startup dna
DESCRIPTION
Startup DNA: the formula behind successful startups in Silicon Valley. These are my personal observations on a few traits that make startups successful. TRANSCRIPT
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Startup DNA The formula behind successful startups in Silicon Valley
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Startup DNA The formula behind successful startups in Silicon Valley
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About me
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Who I'm not...
● I'm not Paul Graham, Reid Hoffman, Dave McClure, Marc Andreessen (sorry)
● I don't own a company
● I'm a "rank amateur"
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What I offer is a different perspective: "from the trenches"
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Who I am
● Had front row seats at very successful startups: LinkedIn, TripAdvisor
● Wrote a lot of code:Monetization, Platform, Infrastructure, Apps
● Created a few programs:Hackdays, [in]cubator, engineering blog, open source
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These are my personal observations on a few traits that make startups successful.
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Outline
1. Make excellent mistakes
2. Speed wins
3. Boyd's law
4. If you can't measure it, you can't fix it
5. Distribution
6. Sharing
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Outline
1. Make excellent mistakes
2. Speed wins
3. Boyd's law
4. If you can't measure it, you can't fix it
5. Distribution
6. Sharing
![Page 10: Startup DNA](https://reader033.vdocuments.net/reader033/viewer/2022050903/53eae0ae8d7f7289708b525f/html5/thumbnails/10.jpg)
"Make excellent mistakes"
Dan Pink [1]
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The road to startup success is paved with failure
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Failed projects
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● Answers● Events● Tweets● Github● Countless other experiments that never
made it past a "dark launch"
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● Wave● Buzz● Labs● Health● Knol● Catalog● Video● Answers
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The Pivot
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● Started as a way to share images in Game Neverending, a massively multiplayer online game.
● Rewritten to focus on photo sharing
● Acquired by Yahoo for $35m in 2005
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● Started out as burbn, an HTML5 mobile app for location-based social networking with photo sharing as one of many features
● Completely rewritten as a photo sharing focused native app
● Sold to facebook for $1bn in 2012
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● Started out as odeo, a site to create and share podcasts
● Struggling to stay alive, they held a hackathon. Jack Dorsey proposed the microblogging concept (originally, text message only).
● 500m users and $10b valuation in 2012
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"Timing, perseverance, and ten years of trying will eventually make you look like an overnight
success."Biz Stone [2]
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The Failure
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Richard Branson
● Virgin Clothes failed● Virgin Cola failed● Virgin Vision failed● Virgin Vodka failed● Virgin Wine failed● Virgin Jeans failed● Virgin Cars failed● ... and many others failed● ... but several hundred others succeeded
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"I have not failed. I have just found 10,000 ways that won’t work."
Thomas Edison
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"Screw it! Just do it!"
Richard Branson
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Reid Hoffman
● His first startup was Socialnet.com: a social network for dating.
● Never heard of it? Exactly.
● Went on to become COO of Paypal, co-founder of LinkedIn, and one of the most successful angel investors of the last decade.
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"If you're not failing every now and again, it's a sign you're not doing anything very innovative."
Woody Allen
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Outline
1. Make excellent mistakes
2. Speed wins
3. Boyd's law
4. If you can't measure it, you can't fix it
5. Distribution
6. Sharing
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"Speed wins"
Stephen Kaufer
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You will not get it right the first time. Or the 10th.
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Time
Maturity
Mature, stable
Proof of concept
Product development (assumption)
Idea
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Time
Maturity
Mature, stable
Proof of concept
Product development (reality)
Idea
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Time
Maturity
Mature, stable
Proof of concept
Product development (reality)
Idea
A very large portion of development time is trial and error
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In a trial and error world, getting to errors faster is the key to success.
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Time
Maturity
Mature, stable
Proof of concept
Product development (technology comparison)
Dynamic/interpreted languages Static languages
Idea
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Time
Maturity
Mature, stable
Proof of concept
Dynamic/interpreted languages Static languages
Innovation Advantage
Product development (technology comparison)
Idea
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Time
Maturity
Mature, stable
Proof of concept
RoR, PlayServlets, Spring
Innovation Advantage
Product development (framework comparison)
Idea
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Time
Maturity
Mature, stable
Proof of concept
Agile, ScrumWaterfall
Innovation Advantage
Product development (development method comparison)
Idea
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"If you're not embarrassed by your first release, you've launched too late."
Reid Hoffman
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Outline
1. Make excellent mistakes
2. Speed wins
3. Boyd's law
4. If you can't measure it, you can't fix it
5. Distribution
6. Sharing
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Boyd's Law of Iteration: "Speed of iteration beats quality of iteration."
Jeff Atwood [3]
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Brikman corollary: "Speed of iteration improves quality of iteration."
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Change the code See the result
Should be as close to 0 as possible
Rapid Prototyping
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Demo
● jsfiddle● Firebug● Developer tools● apigee● JavaScript API Console● CodeKit
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"A canvas or sketchbook serves as an external imagination."
Bret Victor [4]
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"A programming language is for thinking of programs, not for expressing programs you've
already thought of."Paul Graham [5]
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Leverage
● Always, always, always google first
● "There's an open source library for that"
● Many minds are better than one
● Bonus: learn from the code
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Demo
● node.js modules● ruby toolbox● github● google fonts● lorem ipsum● placekitten
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"You'll be lucky if you have a single original idea your entire life."
Mr. Patch [6]
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Outline
1. Make excellent mistakes
2. Speed wins
3. Boyd's law
4. If you can't measure it, you can't fix it
5. Distribution
6. Sharing
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"If you can't measure it, you can't fix it."
DJ Patil
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You will not get it right the first time. Or the 10th.
Or ever, if you don't know what is right and what is wrong.
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inGraphs
Server metrics
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inGraphs
Database metrics
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inGraphs
Client-side metrics
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Profile metrics
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Activity metrics
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Bug metrics
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Build metrics
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Test metrics
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Measure everything.
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LiXLinkedIn Experimentation Platform
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LiX
● Group members into buckets
● Control feature visibility by bucket
● A/B testing
● Feature ramps: dark launch, 1%, 10%, 100%
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Subscriptions
Bucket A
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Subscriptions
Bucket B
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Subscriptions
Bucket C
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Subscriptions
Bucket D
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Picking the right image for a given user significantly increased CTR
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"Web 3.0 will be about data."Reid Hoffman
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Outline
1. Make excellent mistakes
2. Speed wins
3. Boyd's law
4. If you can't measure it, you can't fix it
5. Distribution
6. Sharing
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Products do NOT sell themselves.
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"Poor distribution - not product - is the number one cause of failure."
Peter Thiel [7]
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All credit goes to Peter Thiel [7] and Adam Nash [8]
Common distribution channels
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Sales
● Dedicated sales team: LinkedIn
● Employees as sales team: Square
● CEO as sales team: Palantir [7]
● Competitions, grants: SpaceX [7]
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● No one likes spam, but email can work: personalized, universal, measurable.
● Direct marketing emails: very low CTR
● Product emails: built into to product interactions. Far better CTRs.
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Year in Review Email
CTRs so high, it was "clicks-per-email"! [8]
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Facebook photo tagging email
My personal CTR on these is 100%.
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SEO
● Free, measurable, effective
● LinkedIn: public profiles, public groups, LinkedIn Today, LinkedIn influencers
● TripAdvisor: the vast majority of TripAdvisor traffic comes from Google
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TripAdvisor SEO
One of the top search results for almost any hotel
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LinkedIn SEO
"Professional profile of record"
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Social
● Put it in the stream
● Social gestures: comments, likes, votes
● Just like email spam, the feed is becoming flooded
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Media
● Blogs, news sites: techcrunch, mashable, huffpost, wired, and many others
● Newspapers, magazines, TV
● Huge reach and a great way to bring in many users in a short time
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Build relationships with the media
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Marketing
● Traditional ads: TV, print ads, billboards. Expensive, hard to measure, and rarely used by startups.
● Online ads: CTR, CPM, SEM. Measure everything!
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Viral Marketing
● Your users attract more users
● Game theory, psychology, sociology
● Free, often measurable (tracking codes)
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Viral loops must be built into the product.
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Key Viral Marketing Concepts
● Viral loops: in my product, where do users interact with non-users?
● Viral factor: how many non-users do they reach per viral interaction?
● Cycle time: how often do these viral interactions occur?
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People You May Know (PYMK)
Invite notification shows up via email, web UI, and mobile. When the other member accepts the invite, we show them PYMK too!
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Twitter @mentions
Notification shows up via email, web UI, and mobile
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Google Analytics & Webmaster Tools
Essential tools for measuring the performance of your distribution channels (measure everything!)
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The best product doesn't always win.
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The best distribution wins
● Betamax vs. VHS [11]
● Apple vs. Microsoft (early 90's) [12]
● TiVo vs. DVR [13]
● Netscape vs. IE [22]
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Outline
1. Make excellent mistakes
2. Speed wins
3. Boyd's law
4. If you can't measure it, you can't fix it
5. Distribution
6. Sharing
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Silicon Valley companies share (almost) everything.
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Share Everything
● Papers: MapReduce [15], Dynamo [16]
● Open Source: Hadoop [17], Voldemort [18]
● Hardware: OpenCompute [19]
● Companies: Red Hat [20], Mozilla [21]
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Open Source
SpeakingWriting
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Why?
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Mastery: the best way to learn, is to teach.
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Better code & products: the house is cleanest just before guests arrive
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Free labor: free QA, free documentation, free bug fixes, ...
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Publicity: recognition for the company and its employees
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Happier employees: something they keep forever
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"If I have seen further it is by standing on the shoulders of giants."
Isaac Newton
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This is why I'm here today.
Please share your feedback and experiences with me!
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Recap
1. Make excellent mistakes
2. Speed wins
3. Boyd's law
4. If you can't measure it, you can't fix it
5. Distribution
6. Sharing
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Questions?
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References1. http://www.amazon.com/Adventures-Johnny-Bunko-Career-Guide/dp/1594482918?ie=UTF8&s=books&qid=1206925356&sr=8-1
2. http://www.bizstone.com/2010/09/timing-lessons.html
3. http://www.codinghorror.com/blog/2007/02/boyds-law-of-iteration.html
4. http://worrydream.com/LearnableProgramming/
5. http://www.paulgraham.com/hp.html
6. Mr. Patch was my 11th grade physics teacher
7. http://blakemasters.com/post/22405055017/peter-thiels-cs183-startup-class-9-notes-essay
8. http://blog.adamnash.com/2012/03/28/user-acquisition-five-sources-of-traffic/
9. http://blog.adamnash.com/2012/04/04/user-acquisition-viral-factor-basics/
10. http://www.linkedin.com/today/post/article/20121002124206-18876785-how-to-model-viral-growth-the-hybrid-model
11. http://en.wikipedia.org/wiki/Videotape_format_war
12. http://www.roughlydrafted.com/RD/Q4.06/9FD12E37-8DC7-4AD1-872F-2021BEDE6D96.html
13. http://www.quora.com/TiVo/Why-did-TiVo-fail
14. http://www.paulgraham.com/growth.html
15. http://research.google.com/archive/mapreduce.html
16. http://www.read.seas.harvard.edu/~kohler/class/cs239-w08/decandia07dynamo.pdf
17. http://hadoop.apache.org/
18. http://www.project-voldemort.com/voldemort/
19. http://www.opencompute.org/
20. http://www.redhat.com/
21. http://www.mozilla.org/en-US/
22. http://en.wikipedia.org/wiki/Browser_wars