Investing · Entrepreneur memoirs

Paul Graham:Billionaires Build, Excerpt 3

Paul Graham《Billionaires Build》· Billionaires Build · Investing · Action · Decision · Philosophy

Who are your first users going to be, and how do you know they want this? If I had to decide whether to fund startups based on a single question, it would be "How do you know people want this?" The most convincing answer is "Because we and our friends want it." It's even better when this is followed by the news that you've already built a prototype, and even though it's very crude, your friends are using it, and it's spreading by word of mouth. If you can say that and you're not lying, the partners will switch from default no to default yes. Meaning you're in unless there's some other disqualifying flaw. That is a hard standard to meet, though. Airbnb didn't meet it. They had the first part. They had made something they themselves wanted. But it wasn't spreading.

Source: https://paulgraham.com/ace.html
Locator:Essay, additional excerpt 3 · Verified:2026-10-19 · Verification:Short excerpt

Today's question

Does this passage change one judgment about money or risk today?

公开随笔;仅摘录并链接作者官网原文,不托管全文。

This text is still in copyright. Only a short excerpt is shown; read the full text at the official link above. Copyright

← Back to the library