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by nostrademons
2042 days ago
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The execution part of it is pretty key. I'd founded a startup in 07-08 that did basically the same thing as Roblox - it was a web-based game creation engine where teenagers could make their own games (with custom assets, physics, behavior, etc.) and then share them with their friends. Gave it up in '09 when the bottom fell out of the economy and my cofounder and I got scared. This year I was being heavily recruited by Roblox and on the "meet the executives" part of the process, ended up reminiscing with David about all the competition back then - companies like Sploder, Game Closure, etc. It was a crowded market even back in '06-07. What Roblox had that we didn't was persistence. David Baszucki has been working on this problem since before I had a computer - he started his first company in 1989 with a recognizable predecessor of an idea, and sold it in 1998. It's that willingness to spend 30 years working on a problem that builds a multi-billion dollar company. |
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Yup. This is the investor mindset. I'm guilty of selling out too early in various things, stocks, companies, etc. Sticking things out with your "investments" can have a significant return.
Knowing when to bow out early is also a valuable skill. Skill, experience and luck; sometimes in any order and quantity.