What a terrible point and bad lesson learnt.
Lets look at airbnb. 3 uni bums no money no technical skill. But a conference was running in the city. They needed money to pay next months rent so hearing about the lack of accomodation due to this event bought some airbeds and sold people space in spare rooms they had.
And airbnb is worth how much now?
It doubled its revenue from the current quarter to its one prior!
Gsw is built from a person who had experience as a courier driver (the football player) who was running his own business liquorrun and was experiencing problems with delivery. This guy came up with a solution to fix the problems of his own company first before realising the potential of it globally.
No point having technology background unless you have a problem you are trying to solve
The simplicity and logic behind is so simple most people ask like you why other big companies havent yet solved this problem themselves.
Airbnb is also totally logical and why didnt someone else come up with the idea... i mean there was even couchsurfer.... but hey... its right idea right time and right execution... technology knowledge has very little to do with it , especially when solving a business problem. They just need to hire smart people with it skills....
1PG Price at posting:
16.5¢ Sentiment: None Disclosure: Not Held
