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johnnycashflow
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JohnTranter, post: 245663, member: 20554 wrote:
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 ;)
thats an interesting point, I know many a people who would happily put in 100 hours , I have into my own small business before,

was it worth it, yeah to a certain extent,

I know the twitters and facebooks etc all started small ,but ideas like snap chat and the fad IT things, sseem to have just popped up over night run by some 20s young pimple faced kid who is now worth $200m .

maybe im judging but it seem,s that these kids have the passion but it doesnt seem like they have put in that many 100hour weeks or have any super skills that make them stand out