Abstract Thoughts #11

WHAT I AM READING

Article: Silicon Valley Is Trying Out a New Mantra: Make a Profit

This is a great read covering some of the thoughts around the failures of WeWork. Silicon Valley’s growth above all else mantra may be running into issues as unicorns are struggling to find a profitable business model. For example, Uber is launching many offshoots to desperately find a way to turn a profit: Uber Eats, Uber Works, and even Uber Money.

WHAT I AM WATCHING

Explained: Billionaires (Netflix)

My friend Dan introduced me to this series on Netflix and I love it. This episode is specifically about the recent growth of billionaires in the world and how that impacts our society. 

Also, the recent episode on Coding is another one to watch.

MISCELLANEOUS MUSING

No one will steal your idea if you share

There is a saying that “ideas are worth a dime a dozen”. I would argue that is a dime overpriced.

When it comes to the next big idea, it’s not about being the first to have the idea, it is about being the first to execute on it.

With over seven and a half billion people on this planet, it is incredibly difficult to be the first to come up with a truly groundbreaking idea. Think about how many times you have seen ideas pitched on Shark Tank and muttered, “I thought of that years ago” under your breath.

The first takeaway is that it truly comes down to executing and actually implementing your idea. The second takeaway is that you need to share your idea to make any progress forward. 

In order to build a team, they will need to know what your idea is and buy into your mission. In order to acquire customers, they will need to know what your product or service is and how it creates value for them. In order to receive investment, you will need to detail your business model to investors.

No one will steal your idea if you share it. What it comes down to ultimately is execution.

Disclaimer: when this conversation moves into the realm of intellectual property, you should never disclose anything that you have not yet protected. Google doesn’t share its search algorithm as it is a trade secret and core to its search business model. 

‘til next week,

Max

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