Most Things Suck. • But, It’s Easy 2 Make Them Better. – Especially Because of Technology. – And Because of Tony Stark. – They Make it Easy To Copy & Improve their Innovations • TIP: DO NOT TRY TO BE TONY STARK. • JUST COPY / USE THEIR STUFF. (and Make It Slightly Better) • 99% of the time -- Copy/Use Other People’s Amazing Stuff. • 1% of the time -- Come Up With Your Own Innovative Stuff. • Improve the Innovation by 1% Every Month.
Over Time, Things Sucks Less. • Fire • Electricity • The Wheel • Cars, Airplanes • Farming • Telephone • Pigs, Cows, Chickens • Radio, TV • Iron, Steel • Cable • Ships • The Internet • Printing Press • Social Networks • Textiles • FB, Twitter, YouTube • Steam Engine • Mobile Phones
Why No Flying Cars Yet? (Teleportation? Sexy Robots?) • Because That Stuff is Real y Hard. • Not So Many Tony Starks / Elon Musks Around. • You Ain’t All That Smart. • Or That Rich. • But, You Might Get To Use Their Stuff.
We Are Mental Midgets Who Stand on Shoulders of Giant Geeks • Da Vinci • Gates • Sir Isaac Newton • Jobs • James Watt • Bezos • Nicola Tesla • Larry & Sergei • Marie Curie • Zuck
You Don’t Have to be Tony Stark • Just Copy/Use the Stuff that Tony Stark Makes. – Tip: Since Most People Suck, They Won’t Notice U Aren’t Tony Stark. • Copy/Use 99% Al The Amazing Stuff Out There. • Innovate on the other 1%. • Innovate 1% More Every Month. • Then Kick Back and Have a Beer.
Most Businesses Suck @ Innovation. • They Don’t Know Technology. • They Don’t Know How to Code. • They Don’t Know SEO or SEM. • They Don’t Know Email Marketing. • They Don’t Know Social, Video, Local, Mobile. • They Don’t Know Good Design or UX. • They Don’t Know How to Cut & Paste. • They Don’t Know How to Use PayPal.
Most Things Are Not Amazing. • But, We Can Easily Make Most Things Better. • Tech + Web = Reduced Overhead Costs. • Search + Social Platforms = Better Marketing. • Copy Existing Business Model = Reduced Risk. • FOCUS = Make ONEthing / SOMEthing Better.
Formula 4 Awesome: Notice Things That Suck. Make Them Suck Less. • Most Brick & Mortar Businesses Are Inefficient. • Lots of Overhead, Shitty UX, Crappy Marketing. • Copy Their Business Model (It Already Works). • Reduce Overhead Cost (Go Online). • Increase Marketing Efficiency (Go Online). • Copy/Integrate 99% Awesome Stuff (aka Tech) • Innovate on the Remaining 1%. • Keep Innovating 1%. Every Month. • Beat Them Like a Drum, Every Day & 2x on Sunday.
Ok, Let’s Try It. • Find an existing, physical-world big dumb business that makes money, but kinda sucks. • Verify they have high overhead costs, inefficient [offline] marketing, crappy service. • Copy the business model, reduce overhead costs, improve marketing. • Add some awesome technology, and then innovate on ONE important thing.
3 Basic Types of Brands: Virgin, Southwest, [Niche] • Virgin = “Mass Luxury” (+ sexy) – High-End Look & Feel, priced just barely within reach of most middle- class customers, who love the “red-carpet” treatment • Southwest = “Convenience & Value” (+ funny) – Shit that just works, not very expensive, great value for everybody. (Who doesn’t like Southwest?) • [Niche] = “Just for You & Me” – Designed for wel -defined customer segments / attributes. – Less competition, higher margins, better retention – Ex: Gay, Old, Black, Short, Female, Moms, Left-Handed, Etc
500 Startups: Global Seed Fund Over 100+ startups outside US, in 35+ countries • Q4/12 added: Germany, Korea, Peru; + Russia, Israel, Turkey in Q1/13 • Priorities in 2012: Brazil, Mexico, India • Priorities In 2013: China, SE Asia, MENA, Eastern Europe