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JohnTranter
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johnnycashflow, post: 245660, member: 79207 wrote:
to me it seems like he had a lot of money (crowdfunding or investors), a lot of luck, good timing

My limited understanding is that it’s mainly hard work that makes these companies happen.
The old saying is that ideas don’t matter, it’s the execution. As such, Angel investors are looking at the person starting the company more than the idea. They want someone driven to succeed who’s happy to put 100+ hours per week into an idea, whilst making no money, for years at a time.

Some of the most successful companies started as something else, before pivoting into their eventual entity.
e.g.
Twitter used to be a podcasting company
Flickr was an online roleplaying game
Instagram was a check-in app with limited photo sharing

Personally I’m happy to be a ‘lifestyle’ company, with spare time to go to the beach and do family functions. I won’t earn billions, but I will still have a wife to come home to ;)