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by jonas21
2184 days ago
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Moonshots are not an option for most founders because they require a massive amount of capital and many years to find out if they'll work or not. In a best-case scenario, you have something like SpaceX that was founded 18 years ago and raised $3.2B, including the first $100M from Elon Musk himself. Almost a decade in, they came very close to failing after the first three Falcon 1 launches didn't reach orbit. In a less good scenario, Magic Leap spent $3B and 10 years trying to make their technology work, but ultimately failed to deliver on their original technical promise. Most founders don't have $100M lying around or the option of walking into a VC firm and saying, "Hey, there's a market here. I don't know if I can do it, but if you give me a few billion, I'll try." As a result, the vast majority of founders have to take the MVP approach. There's nothing wrong with that. If founders insisted on only taking moonshots, the outcome wouldn't be more moonshots. There would just be fewer incremental improvements. |
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