In a country like India, I don't think people care whether their laptop is stolen or not. All they want is to spend as less money as possible to get the best. I'm sure it applies to many other countries where per capita income isn't enough to make good laptops or smartphones affordable to masses.
If ideation were entrepreneurship, I'm sure more than 90% of people in the world were entrepreneurs. Everybody is aware of problems, most of us have half-baked solutions as well. But as you pointed out, the guy who goes all the way to convert these half-baked solutions into concrete actions, at the risk of getting nothing in return, is the one worthy of the title. Entrepreneurship is indeed 1% inspiration and 99% perspiration.
Can't agree more. But instead of saying 'Startups shouldn't hire MBAs', I'd rather say 'MBAs shouldn't join startups'.
Having done my MBA from one of India's most prestigious schools, and after having worked for 4 years in large conglomerates, I've recently joined a startup as a founding member. It takes a month to realize its a different ballgame, and what I did for last 5-6 years, although is helping me here, it could be learnt in a startup in much lesser time. MBA is great to get into I-Bank or Consulting, in fact almost unavoidable. But if one wants to join a startup, he should plunge into it the moment he finishes his undergraduate.
Its fascinating what China is doing. Not only with Baidu, but with Alibaba, Youku, Tudou and so many other ecom and gaming sites. And such huge companies without even venturing out, Imagine if they take it to the world level!
I would add understanding of social media too. It has become a must since past few years to have a substantial online presence. Personal branding is something that will take you a long way ahead. You can crash parties only once in a while, but in social media space, you can have real-time one-on-one interactions with almost anybody anytime!
I'm not sure if it is a problem unique to India, but here Angel investors are extremely risk averse. Other than looking at the competition, objective, market opportunity and potential, they focus on current revenues A LOT! Their decision of whether to invest or not depends almost 80-90% on whether you are making steady income already, and that I think is the biggest dealmaker/breaker than all other criteria.