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A THREAD on insightful ideas on startups, remote work, enterprise software++ shared by Aaron Levie ( @levie):
1/
The easiest shortcut to building great products is not to think like your best customer but to be your best customer.
Just build what you’d want built for yourself.
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The easiest shortcut to building great products is not to think like your best customer but to be your best customer.
Just build what you’d want built for yourself.
2/
As a startup, always bias toward simple.
Customers will tell you when your product doesn't do enough, but will never ask for fewer features when they stop using your product because it's too complex.
As a startup, always bias toward simple.
Customers will tell you when your product doesn't do enough, but will never ask for fewer features when they stop using your product because it's too complex.
3/
Anytime someone says “that problem has been solved,” remember Slack and Zoom have created ~$20B in value in categories most wrote off as finished.
Anytime someone says “that problem has been solved,” remember Slack and Zoom have created ~$20B in value in categories most wrote off as finished.
4/
Building a startup is an endless loop of going from one pivot to the next, right about when the last one has finally settled in.
Building a startup is an endless loop of going from one pivot to the next, right about when the last one has finally settled in.
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As a startup, you should find yourself saying “no” to your own and others’ ideas 100X more often than saying “yes.”
As a startup, you should find yourself saying “no” to your own and others’ ideas 100X more often than saying “yes.”
6/
Startups:
1. Make sure your strategy is setup for the world we’ve entered
2. Focus; cut the side projects
3. Control costs
4. Communicate constantly and protect your culture
5. Stay customer obsessed and they’ll remember you for it
Startups:
1. Make sure your strategy is setup for the world we’ve entered
2. Focus; cut the side projects
3. Control costs
4. Communicate constantly and protect your culture
5. Stay customer obsessed and they’ll remember you for it
7/
Almost everything I've learned about startups:
* Aim to get to cash flow positive early
* Don't overly optimize for private market valuations
* Build a great team and culture
* Make sure the business model *works*
* Focus, focus, focus. Dilution of effort will crush you.
Almost everything I've learned about startups:
* Aim to get to cash flow positive early
* Don't overly optimize for private market valuations
* Build a great team and culture
* Make sure the business model *works*
* Focus, focus, focus. Dilution of effort will crush you.
8/
The “best time” to do a startup is when you have a better solution for an important problem, often catalyzed by a big change in the world.
That can be economic change.
The launch of the iPhone.
The growth of the web.
New social norms.
Changes to workstyles.
The “best time” to do a startup is when you have a better solution for an important problem, often catalyzed by a big change in the world.
That can be economic change.
The launch of the iPhone.
The growth of the web.
New social norms.
Changes to workstyles.
9/
When I was your age, to build a startup you had to install servers, build apps for the Blackberry, your communication app was AOL IM, and a 5-figure investment could constitute an angel round.
So it's absolutely possible to build new startups and be innovative right now.
When I was your age, to build a startup you had to install servers, build apps for the Blackberry, your communication app was AOL IM, and a 5-figure investment could constitute an angel round.
So it's absolutely possible to build new startups and be innovative right now.
10/
I suspect there will be vastly more new problems for startups to solve in this “new normal” than we realize.
Now the only question will be how many will be solved by new startups that launch now vs. existing startups that pivot quickly.
I suspect there will be vastly more new problems for startups to solve in this “new normal” than we realize.
Now the only question will be how many will be solved by new startups that launch now vs. existing startups that pivot quickly.
11/
I know founders that work a ton because they love it.
Some that don’t have to work a ton bcz their idea is so damn good.
Some that work a ton bcz their business is operationally intensive.
And some that worked long hours but the idea didn't work.
There is *no* playbook.
I know founders that work a ton because they love it.
Some that don’t have to work a ton bcz their idea is so damn good.
Some that work a ton bcz their business is operationally intensive.
And some that worked long hours but the idea didn't work.
There is *no* playbook.
12/
Starting up is the act of doing as many jobs as possible so your company can survive.
Scaling is the act of shedding as many jobs as possible so your company can survive.
Starting up is the act of doing as many jobs as possible so your company can survive.
Scaling is the act of shedding as many jobs as possible so your company can survive.
13/
The digital age is defined by software, and GitHub has redefined how the world contributes, shares, and manages code.
The digital age is defined by software, and GitHub has redefined how the world contributes, shares, and manages code.
14/
If competitors are catching up to your roadmap, you’re not moving fast enough.
If you’re catching up to your competitor’s roadmap, you’re not differentiated enough.
If competitors are catching up to your roadmap, you’re not moving fast enough.
If you’re catching up to your competitor’s roadmap, you’re not differentiated enough.
15/
1. Solve *one* problem no one has paid attention to in a really big (potential or existing) market. Insanely well.
2. Then, “listen” to customers and address their next biggest problem related to that first problem.
1. Solve *one* problem no one has paid attention to in a really big (potential or existing) market. Insanely well.
2. Then, “listen” to customers and address their next biggest problem related to that first problem.
16/
Value is created in a startup when you solve a really hard problem for a customer in an insanely elegant way.
Scaling is somehow continuing to do this despite the constant threats that get in the way.
Value is created in a startup when you solve a really hard problem for a customer in an insanely elegant way.
Scaling is somehow continuing to do this despite the constant threats that get in the way.
17/
We're seeing an explosion of enterprise software successes because markets are often 10X larger when they move from legacy to the cloud:
global scale instantly, billions of potential users, exponential growth in devices, completely new work styles.
This is just the start.
We're seeing an explosion of enterprise software successes because markets are often 10X larger when they move from legacy to the cloud:
global scale instantly, billions of potential users, exponential growth in devices, completely new work styles.
This is just the start.
18/
The tectonic shift causing a new era of enterprise software is that product development, distribution, adoption, customer service, and design look vastly more like a consumer company than a traditional enterprise company.
The tectonic shift causing a new era of enterprise software is that product development, distribution, adoption, customer service, and design look vastly more like a consumer company than a traditional enterprise company.
19/
Digital transformation is ultimately about getting closer to the value proposition any customer wants:
solving a problem better than before, with greater convenience, at a lower price.
Any digital strategy that doesn’t advance this is just distraction.
Digital transformation is ultimately about getting closer to the value proposition any customer wants:
solving a problem better than before, with greater convenience, at a lower price.
Any digital strategy that doesn’t advance this is just distraction.
20/
10 years ago, the combined public market caps of bottom-up, user-led enterprise software companies was $0.
Today, it’s $100B+.
Amazing how much this industry has changed in under a decade.
10 years ago, the combined public market caps of bottom-up, user-led enterprise software companies was $0.
Today, it’s $100B+.
Amazing how much this industry has changed in under a decade.
21/
Enterprises are beginning to rethink what’s now possible when you move to digital. An event can reach 10,000 customers not 100. Your teams can engage with 3X more customers in a day when it’s over video. Products get updated way faster when you’re agile. Everything changes.
Enterprises are beginning to rethink what’s now possible when you move to digital. An event can reach 10,000 customers not 100. Your teams can engage with 3X more customers in a day when it’s over video. Products get updated way faster when you’re agile. Everything changes.
22/
I suspect if Zoom had a “paywall” feature, there would probably be $100B+ in economic activity overnight.
Cooking lessons, church services, concerts, music lessons, yoga, and more.
Who’s building this?
I suspect if Zoom had a “paywall” feature, there would probably be $100B+ in economic activity overnight.
Cooking lessons, church services, concerts, music lessons, yoga, and more.
Who’s building this?
23/
Enterprises are moving from just enabling near-term remote work to now digitizing business processes for the long-run.
Enterprises are moving from just enabling near-term remote work to now digitizing business processes for the long-run.
24/
A great question is “can you innovate remotely as well as a startup”.
We built Box for the first ~18 months entirely distributed, before video, Slack, real-time documents, & any of today’s other modern tech. Basically the entire company was built over AOL instant messenger.
A great question is “can you innovate remotely as well as a startup”.
We built Box for the first ~18 months entirely distributed, before video, Slack, real-time documents, & any of today’s other modern tech. Basically the entire company was built over AOL instant messenger.
25/
Stages of bringing new technology to market:
1. "Oh hell no."
2. "Politely, no, that technology would never work here."
3. "Neat, but not a priority for us."
4. "Maybe!"
5. "Actually nope, no budget."
6. "Well this is compelling."
7. "Where were you years ago?"
Stages of bringing new technology to market:
1. "Oh hell no."
2. "Politely, no, that technology would never work here."
3. "Neat, but not a priority for us."
4. "Maybe!"
5. "Actually nope, no budget."
6. "Well this is compelling."
7. "Where were you years ago?"
26/
The push happening around remote work is as game-changing for the future of tech as the launch of the iPhone was in 2007.
This is not about real estate; it will change how products will be designed, how teams collaborate, and how companies will be run going forward.
The push happening around remote work is as game-changing for the future of tech as the launch of the iPhone was in 2007.
This is not about real estate; it will change how products will be designed, how teams collaborate, and how companies will be run going forward.
27/
We often equate innovation with in-person collaboration.
Done correctly, the power of digital is you can draw out the best ideas from people beyond who you sit next to.
Across time zones.
And all levels of the organization, not just who got invited to the meeting.
We often equate innovation with in-person collaboration.
Done correctly, the power of digital is you can draw out the best ideas from people beyond who you sit next to.
Across time zones.
And all levels of the organization, not just who got invited to the meeting.
28/
The industries that have resisted going digital —healthcare, banking, legal, retail, government— will do so faster this year than in the last decade combined.
The industries that have resisted going digital —healthcare, banking, legal, retail, government— will do so faster this year than in the last decade combined.
