Fred Wilson Quotes
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Internet and mobile product development cycles are measured in months, not years. And the capital required to get a product built and into the market is less than $1 million. And the returns, when things work out, can be enormous.
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So many folks in the venture capital business are sheep that just want to follow the herd. They are momentum investors purchasing highly illiquid investments. That is a recipe for disaster.
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Profiles aren't journalism.
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It's not easy for an entrepreneur to find the time to blog. But for those who do it, it is a great tool to communicate with the various stakeholders in their business and build a reputation for thought leadership.
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I believe the mobile OS market will play out very similarly to Windows and Macintosh, with Android in the role of Windows. And so, if you want to be in front of the largest number of users, you need to be on Android.
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Blog-based businesses have lower cost structures and are more 'authentic,' and as a result are drawing larger shares of ad budgets.
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When there were not very many Internet companies, the supply of Internet companies to the market was small and the appetite for them was large. Therefore, if you were in the business of creating Internet companies in 1996-98, you had a market that provided massive demand for that.
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Customers are a great way to finance a business for many reasons. First, customer financing is typically non dilutive. They want something from you other than equity in your business. Customers also help you fit your product to the market. And customers will help debug and improve the quality of the product.
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Certainly anything that is news or opinion needs to be free on the Web, because the Web is this very fluid medium that is very much driven by links and the flow of visitors through a discussion via links.
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People already love to play casual games. But when you take a casual game and stick it inside a social network, it becomes way more exciting.
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One of the great things about young entrepreneurs is that they don't know that something can't be done. So they try something that's so audacious and usually end up pulling it off.
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We need new medical approaches to preventing and/or curing disease. We need new scientific approaches to generating, storing, and being more efficient with energy. Maybe we need more space exploration. Maybe we need more undersea exploration.
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Many artists stick to making and hire a manager to focus on their business. Artists that build websites and mobile apps can do that, too.
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Marketing is for companies who have sucky products.
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If you are successful, you will be cloned. That's life. In fact, it's a sign that you've made it when clones of your website, mobile app, and business start cropping up.
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The most common way customer financing is done is you sell the customer on the product before you've built it or before you've finished it. The customer puts up the money to build the product or finish the product and becomes your first customer. Usually the customer simply wants the product and nothing more.