crrytheday. Posted on Sep 14, 2020
Came across this and thought it was pretty accurate:
Yeah it would be tough to pull off without start up cash or influencers to promote. My theory behind my formula is one tgat keeps us away from Gambling laws.
That is why I include that pesky little feature of " EVERYONE " is eligible to recieve 100,000 Cash. Sounds dumb but its the easiest way to make it NOT gambling.
Example; if there are 100,000 people inside the App....50,000 people donate 2 bucks each = 100,000 Cash.....and now ANYONE from tge 100,000 People is eligible and 1 person will recieve 100,000 Cash. Then the Crowdfunding resets back to Zero dollars and starts again. If only people who donate are " Eligible " to participate then this would be a little too close to gambling. Even though there is a Vote system the IRS or Laws would be all over this. That is why we would get the Feds off our back by simply making it a Donation based Crowdfunding where all are eligible.
I got this Idea because I absolutely hate the greed based " Luck" games that the Lottery commissions allow.....they are all based on making a person win 300 million...700 million hahahah
I imagine WE THE PEOPLE somehow uniting and instead of example playing the lotto for luck to win the Millions.....why not allow THOUSANDS of Americans to receive 100,000 Cash.....
Think about this for a second....how would society benefit if TODAY we boycott the Lottery and its scams and literally implemented MY formula ....would the USA be better off with the current Lottery of playing until 1 or 3 people split 700 million or would the USA be better with my formula.....
My formula = reach 200,000 Cash = the IRS,LOTTERY take 100,000 Cash .....and 1 American recieves 100,000 Cash.....then resets and starts again....remember if we abolish the Lottery then THEIR 20 Million players would join the NEW formula....so from 20 million people....the FIRST 100,000 People to donate 2 bucks and now 1 of the 100,000 people recieves 100,000 Cash ....and everything resets back to Zero and again.....from the 20 Million the very first 100,000 people that quickly donate 2 bucks each then again we made an American recieve 100,000 Cash....using my formula we could have THOUSANDS of Americans to recieve 100,000....instead we use greed based Lottery formulas of WE THE PEOPLE literally uniting all playing the lotto....so 3 people can split 700 million hahahah .....pretty sad that greed takes away this vision..... a vision that could bring empowerment to sooooo many Americans by allowing thousands to recieve this 100,000 Cash
I tell my idea to ANY and anyone who will listen simply because I cannot afford to bring my idea to life. I share the idea in hopes maybe someday someday does bring it to life with or without me.
My idea is pretty basic and simple.....my idea is to have a team of Developers have an APP developed that will allow all of us future Entrepreneurs to Create a Profile and share a little or any information on their Idea and most importantly the idea can cost ONLY 100,000 Cash....
My idea is to create the vessel/vehicle that will allow all of us to Crowdfund together and actually bring ideas that we VOTE to life.......
Example of how my App idea would operate.....
Lets say that 100,000 people/Entrepreneurs from all over the USA join my Crowdfunding APP..... so lets pretend that 50,000 of those people DID NOT DONATE not even 1 dollar.....but they are still allowed to belong and create a Profile and also details about their personal idea......okay thats them..... so the other 50,000 People/Entrepreneurs they actually believe in the theory & vision so they also create profiles and talk a little about their idea....the difference here is that this 50,000 people all DONATED 2 bucks each for a grand total of 100,000 CASH and now here is where it gets interesting...... once the APP reaches this 100,000 Cash in donations then EVERYONE inside the APP recieves 1 Virtual VOTE and must apply to someone Idea.....the TOP 10 ideas that recieves the most virtual Votes will move to final round where again.....ALLLLL 100,000 People inside the App all have 1 Virtual Vote and from the 10 ideas the one that collects the Most votes now will recieve 100,000 CASH to actually bring their idea to life !!! We reset the Crowdfunding back to Zero and start again and repeat this perpetual.
The theory here is that since its a Majority voting system the ideas we vote for on a majority would be pretty good ideas.....WE THE ENTREPRENEURS of the App would decide collectively via voting and thus our minds would vote majority on ideas that make sense and thus we will avoid many start-up failures.
Its a random idea this that I have....but the logic here is unity in the name of empowering great ideas into existence. The main cool fact here is that you absolutely do not have to donate in order for your idea to be Voted !!! That's what would make the APP special..... there could be 300,000 people inside my Crowdfunding App and example if 100,000 from them donate 1 dollar.....then ALLLLL 300,000 People/Entrepreneurs inside the App are able to introduce their idea in hopes of collecting these Virtual Votes needed to be a TOP 10 FINALIST
Thoughts on my crazy App idea that basically would use Crowdfunding to facilitate and bring other ideas to life ?
I think it would struggle to gain traction. You would need to market the hell out of it or supply early funding into it get those first “big winners”. But then what happens if it fails? Are those same voters going to try again and again? Even winners will take multiple years to come to fruition.
And why would anyone care if they did? I think you overrate the interest random people have in supporting creation without a personal benefit. I pay $60 on Kickstarter not to inspire anyone or support the process, I spend it because I want a pair of shoes.
I also don’t like non-payers being able to vote. Why the hell would I put in $500 when 0 will get me the exact same amount of power?
According to my brother....a few million.
Getting them patents sure has paid off.
Yeah, protecting your IP is important. I actually work in IP, and I have a few trademarks myself. If you have an idea and you patent it and you sell those patents, or you incorporate those properties into a product or service, then you certainly have executed.
Haha these numbers are so close to my experience. I had one great idea with good execution. Could of been 10x if I had done great execution but I was lazy young and a biz noob.
Then 5 years later, I had a great idea with great execution.
These things are often time based, you execute now or in 2-3 years the opportunity is gone. If you spot something go for it full guns. Become an expert in your field and you’ll de risk your whole business too.
According to that my brilliant idea was only good executed. Now I feel sad.
That chart feels totally accurate. Most of my good ideas with good execution make me anywhere from $1000 to $10000. And also quite true that an awful idea with no execution can still make a buck.
I didn't think about it that way. I always have tones of ideas and this idea can be the greatest one but without any action it worth $1. Some of my ideas took me so much time to realize and are not giving what I was expected...
Looks like if your idea is awful, the better you execute, the more into debt you'll go.
Now we just have to get the right half to shut up. Execution Is Everything. ... oh yeah, that has got to go.
Until just days ago I had seen countless postings of "execution is everything" and just now one lone guy seemed interested in quality of execution. Have you EVER read a post about what differs from the thousand dollar execution, the million dollar execution, the billion dollar execution? Ever participate in any discussion on any business forum about how to execute better?
I mean any little detail, any crumb of information about execution that would grant it the important status of everything? Isn't 'execution is everything' pretty grandiose to have not one damn thing to say about it?
Not even a flicker of curiosity about the intricacies, the subtleties, hell -- the vagaries of execution at all?
Doesn't anyone but me want to say "Okay ... and ... do you mean that's fucking it?!" I think we need to describe this as being a success tease. Clickbait is more verbose.
The reason you may not be seeing people discuss execution is because "execution" is just a general word to describe any number of action steps when building a business. So people aren't discussing the general idea of executing - they're discussing specific matters of the best way to source a product, or the right invoicing software for their venture, etc. I have absolutely zero interest in someone's pointless rant about a "million dollar execution" vs. "billion dollar execution" - that doesn't make much sense.
In the context of this post, it makes sense to mention execution because you are talking about merely having an idea vs. taking a series of actions to get the idea off the ground (i.e., executing that idea). But "the best way to execute" would differ greatly depending on the venture, which is why people talk specifics, thus you are not seeing general discussions of "the best way to execute."
There are many, many posts about the best way to do this or that in this sub, which are also facets of execution.
> So people aren't discussing the general idea of executing - they're discussing specific matters of the best way to source a product, or the right invoicing software for their venture, etc.
Sounds fishy. I mean really damn suspect. I know. Let use discuss the zero dollar execution versus the thousand dollar execution.
My Validation Is Completely Different From Real Results
>I have absolutely zero interest in someone's pointless rant about a "million dollar execution" vs. "billion dollar execution" - that doesn't make much sense.
Interesting. Please explain the topic popularity and your post IN IT. Difficulty Level: The Topic Title. THE LINK.
TIL: I have got to get me those cards Olympic Judges have to score the mental gymnastics event in these posts.
This logic is persist, and is garbage.
Startups would operate in stealth mode, if this were true.
VCs wouldn't (understandably) hoard knowledge, about the market and their investments, if this were true.
Ideas are worth far more than this logic gives credence to.
Don't take it too seriously. Nobody is telling you to publish your trade secrets. Some people need to read this because they are afraid of taking any action for fear of someone stealing their "brilliant" idea. They've been sitting on some idea for years without even knowing if its feasible because anyone who is in a position to give advice doesn't care to sign their stupid NDA. They vastly overestimate the likelihood that someone is going to hear their idea and immediately dedicate their life to creating it.
> Don't take it too seriously
Making a claim that a fantastic idea is worth $20 is wrong and misleading, and just as bad as promoting the opposite direction (that you should horde your ideas, because ideas are everything, and not get market feedback).
You are probably the only one here who took it literally that a fantastic idea is worth $20. The idea here can be summed up as, "Great ideas are a dime a dozen" (just to be clear, they are not LITERALLY 10 cents for 12).
Many people hold onto ideas and never execute and think that they are holding onto some golden key. Sometimes they watch as, years later, someone else successfully executes the same idea. The point of the post is to potentially disabuse people of the notion that an idea that remains in one's head indefinitely is very valuable.
1) What you're stating is interesting, but has nothing to do with the twitter post.
2) The claims you continue to make have nothing to do with how the largest startup ideas market in the planet, i.e., Silicon Valley, operates.
> The idea here can be summed up as, "Great ideas are a dime a dozen"
Unless we're being reductionist and counting a great idea as "solve virtual collaboration", virtually no VC (i.e., those that traffic in startup ideas) is going to agree with this statement.
Great ideas are actually quite few.
> The point of the post is to potentially disabuse people of the notion that an idea that remains in one's head indefinitely is very valuable.
Again, Silicon Valley doesn't operate that way, so we need stronger evidence than some bro who doesn't work in startups or early stage VC investing made this claim.
When in doubt, the baseline assumption should always be that the market is correct--given it is pretty efficient.
The market isn't always correct--but strong claims (i.e., the market is wrong) require strong evidence.
But you’ve missed the point of the post. It’s not that a great idea is worth $20. It’s that a great idea with poor execution is $20. So if you can’t execute on a business idea, then no matter how good the idea, you’ll fail.
> But you’ve missed the point of the post.
You have misread the post and are trying to assign it depth that is antithetical to what it actually states.
> It’s not that a great idea is worth $20.
1) The title of the reddit post (yes, yes, dangerous), in fact, says, "Q: How much is your brilliant idea worth? A: $20".
2) More importantly, the Twitter post--quite literally--states that a "brilliant idea" with "no execution" is worth $20 ($20 * 1).
This is, quite literally, nonsense unsupported by how the high-end startup ecosystem functions: virtually no one is sharing their ideas for the equivalent of $20.
> It’s that a great idea with poor execution is $20
This is kind of hear nor there, but, again, you didn't read the Twitter post closely. A "brilliant idea" with "weak execution" is (apparently) worth $20k.
(I'd argue that it is actually possibly worth less with weak execution, because of the resulting confusion about the underlying idea validity, but this side note is neither here nor there.)
I mean, good grief, the guy being linked to isn't even a meaningful angel or VC investor or startup entrepreneur. He's a one-time hedge fund / JPM analyst.
Entrepreneurship takes all types, but this guy's commentary and experience is not terribly relevant to the "classic" notion of the startup ecosystem. (More relevant, I'd argue, if perhaps if you're focused on being an entrepreneur in the capital markets.)
I was just trying to be funny. You're right though your friend would likely just add a new angle
sorry! definitely took it as snarky. I'm still waking up and drinking coffee. cheers friend!
Yeah it drives me crazy when a friend or acquaintance doesn't want to tell me their idea. I have my own business! I have no urge to start something else right now.
99.99% of the time, if you tell someone your idea, they'll have some great input to add or a new angle to look at, but realistically they don't have the bandwidth or passion to try to steal it from you.
A lot of times I don't like to tell people my ideas because they'll just tell me it's a stupid idea that will fail.
oh man that sucks! I'm sorry! all the more reason to surround yourself with supportive people. I remember when I first started with my crazy idea. Most people were really supportive but i had a handful of people who told me it was dumb. I listened to the supportive people and used the naysayers as fuel. Since then, they've apologized and admitted they were wrong. It felt real good
That arithmetic didn't work out for the Winklevoss twins
But, according to the Tweet, they didn't execute it. Therefore, for them, it was worthless.
Sure it did, they did nothing and got $65 million dollars, then invested $11M into bitcoin, did nothing again, and got over $1B.
Cool. That’s 1 out of how many millions? Let’s be honest. You’re not the winklevoss twins and you don’t know any zuckerbergs
It’s easy to find the one example in a mainstream movie, but they don’t make movies about the millions of times someone shares their idea, their friend says “cool!” And then nothing bad happens
it happens to be something that happens to screen writers and song writers all the time. Also products that are brilliant and they can be easily made. If pitched can be stolen.In reality the framing is most ideas (95%) are terrible yet people think are great, but the ones that are good people will steal.
They may have actually been the 0.01%
I have seen several personal instances of people getting ideas or plans ripped off in various ways. It's not clear one way or another.
and wouldn't you know it? I have seen several personal instances of the opposite. Anecdotes are wild, eh?
800k members in this group. I wonder how many lurkers have stolen ideas from this group alone? I’m very hesitant to share my idea even though I desperately need help and feedback.
True, but also how many industries are there that don’t have room for everyone? I’m a pretty specialized event planner and I’ll gladly help someone up and coming who wants to do what I do.
In most cases a rising tide lifts all ships. Not to say it hasn’t happened, but realistically it’s probably extremely rare
I guess one rule of thumb could be:
- If you can execute the idea, share it and receive as much feedback as possible (preferably from MVP).
- If you can't execute it right away or need help, share it with people you can trust.
- If you can't execute it at all and it's doable, keep it or give it away to others
This is a realistic view.
So, you're agreeing that neither way is supported.
I'm saying that when you can argue both sides as anecdotal, you should go with the statistics. And statistically the person you tell your idea to is much more likely to be supportive and then go on with their day than they are to go home and immediately copy the idea, get it off the ground, and undercut you.
But since we're here, i would love to hear about all the times where you've personally known someone who had an idea, shared the idea, and had it stolen.
The statistics are that most ideas aren't very good, but the ones that are good have a much greater likelihood of being ripped off. What i'm getting at is that really well fleshed out ideas with a path to execution are at risk of being implemented without you and you will gain nothing for it.
A great basic example is a private mailbox/PO box place that was looking at either expanding or selling. An investor signed all relevant privacy documents and reviewed their business and the total available market. They decided not to work with them, but instead opened a competing business at the same intersection across the 2 lane street.
A sales team member at a small business had an idea of new markets to target and how to get reasonable results. They discussed it with a colleague who was a competitor at the same business (other salesperson same territory) who ultimately left and joined another business and implemented the strategy successfully before the original person.
Like you said, you don't need anecdotal examples. I am simply of the opinion that walking about seeking feedback has an inherent risk when talking to people who could actually give you good feedback (those who are successful in your market).
I love this! Thank you for turning a small disagreement on Reddit into a great learning lesson. These are fantastic and I think another lesson to learn is there is a middle factor (in how viable the idea is vs how trustworthy the listener is) cheers friend! Happy weekend
I fucking love this. As a wannabe entrepreneur that is pretty close to going on my own this is highly motivating. Execution execution execution