How To Build A Billion-Dollar Startup: Secrets From Early Lyft, Twitch Investor

How to Build a Billion-Dollar Startup: Secrets From an Early Lyft, Twitch Investor

Silicon Valley investor Mike Maples Jr. has invested in some of the biggest names in tech, including Twitter, Lyft, and Twitch. What's his secret? He looks for startups that break patterns and force consumers to make choices, not comparisons.

Breaking the Pattern: The Key to Startup Success

Maples argues that successful startups don't just compete in existing markets, they define new ones. He uses Lyft and Uber as examples, saying that these companies recognized the potential of smartphones to transform transportation.

Airbnb, he says, is another great example. Instead of offering generic hotel stays, Airbnb created a unique experience by focusing on the individuality of each location. This forced consumers to make a choice based on their preferences, not just on price or availability.

Beyond Business: Startups as Social Movements

Maples believes that truly successful startups are more than just businesses; they're social movements. They address a real need or grievance felt by a significant portion of the population and aim to change the status quo.

The Power of the Founders

But it's not just the idea that matters. Maples emphasizes the importance of the founders. He looks for technically excellent individuals with drive and tenacity. He also values their ability to identify groundbreaking ideas and execute them effectively.

Remember, the winning product is often not the one you initially see. The founders' vision and ability to adapt are key.

Key Takeaways:

• Successful startups break patterns and force consumers to make choices.
• They define new markets and create a unique experience.
• They are social movements that address real needs and aim to change the status quo.
• Founders matter - look for technically excellent individuals with drive and tenacity.