[manigandham]

Perhaps it isn't now but this whole thread is mostly referring to the start of a company in which case everything is a small business.

Basecamp with 50 people is still small to me, I'd say companies need at least 100 people before they can be called mid-size.

Trying new things means the other spun-out companies are startups. Basecamp itself is nothing new, just different software solving the same problem as hundreds of other project management and collaboration tools.

[zeckalpha]

What about executing an already "proven" idea really well?

[manigandham]

What about it? It's already proven so still nothing new. Just new version.

I think new can be summarized as a new business model, new way to monetize something, new innovation like a product or service that didnt exist before, new industries in general, etc.

There can be multiple startups doing the same problem but most "startups" in SV aren't really doing anything new, just a more modern approach or revamped UX of existing solutions so I wouldn't call them startups. There's nothing wrong just being a small business that grows into a medium and large business.

Not everything has to be brand new and it's not always worth it either.