TL;DR Weekly - Issue 5
Blog Spotlight - What is -1 to 0? A Philosophy of Ideation
Before you start your 0 to 1 journey, there’s another stage, which is nowadays as important as ever: -1 to 0. This is where you figure out what you want to work on, and how you want to work - a period of ideation before any concrete steps are taken to establish a business. The blog post emphasizes the importance of having a solid idea and a clear founder-market fit before seeking investment, challenging the Silicon Valley notion of pivoting post-funding.
These are the steps to maximize the success of your -1 to 0 journey:
Embrace the Ideation Phase: Dedicate time to understand what you want to work on. Don't rush this foundational stage.
Seek Founder-Market Fit: Reflect on your skills and interests to determine the right market for you.
Discard Good for Great: Be selective with your ideas. Pursue only those with the potential for significant impact.
Build Conviction: Develop a strong belief in your idea through research and iteration.
Prepare for Fundraising: Gather evidence to prove your concept and align with the market before seeking investment.
Value Your Time: Recognize that time spent in ideation is an investment that can prevent wasted effort later on.
News Highlights
1. SpaceX launches Starship for the second time, going farther than ever before
SpaceX flew Starship, the most powerful rocket ever built, for the second time. Even though both the Super Heavy booster and the Starship upper stage had to be blown up in midair, it was still a huge success for the company.
Starship’s ultimate mission is to take humanity to Mars. In the near term, however, its mission is being able to launch many more Starlink satellites and to bring astronauts to the moon for NASA’s Artemis program. That first landing mission, Artemis III, is currently slated for 2025.
2. Amazon will allow auto dealers to sell cars on its site, starting with Hyundai
Amazon is set to expand its e-commerce offerings by allowing auto dealers to sell cars on its platform starting next year. The company has been gradually moving into the car-buying business by providing a digital showroom for customers to research and compare vehicles. With this new initiative, buyers will be able to purchase cars on Amazon, with Hyundai being the first automaker to partner with the e-commerce giant.
3. Valve celebrates Half-Life’s 25th anniversary
Valve released their groundbreaking video game Half-Life in 1998. Now, 25 years later, they are celebrating the anniversary by releasing a brand new update for the game, and the first official documentary.
4. Binance CEO steps down; crypto platform hit with record $4.3 billion in damages
Binance, the world's largest cryptocurrency exchange, fined a record-breaking fine for violations of U.S. anti-money laundering and sanctions laws. Binance founder and CEO Changpeng Zhao pleaded guilty to the charges, stepped down as CEO, and agreed to a $50 million fine.
Guilty pleas were announced shortly after Zhao's rival, Bankman-Fried, was found guilty of fraud. Kraken, a cryptocurrency exchange, also faces federal enforcement action.
The message here should be clear: using new technology to break the law does not make you a disruptor, it makes you a criminal.
Talk of the Week - 2 Hours, 2 Days, 2 Weeks
The talk "2 Hours, 2 Days, 2 Weeks" outlines a method for app development that emphasizes speed and feedback. Here’s a summary of the method:
2 Hours: Create a Minimum Viable Product to test if an idea is feasible - will you be able to build the full scope of the app in two weeks?
2 Days: Spend the next two days to refine the MVP to a state where you can share it with your friends. The aim is to have a workable version that friends can interact with and provide feedback on usability and the app's value proposition.
2 Weeks: Refine the app based on the feedback you get and get it launched in two weeks. This includes a basic marketing website, creating a listing on the app store, and potentially adding a few more features. When the app is live - use real user feedback to inform further app development.