Getting a potential customer to download an app is the single largest hurdle placed at the beginning of the monetization funnel. You could make the argument that since a lot of the incentivized apps are free, it isn't really a laundering operation. The incentivized app only starts bringing in revenue once it convinces a user to start making in-app purchases.
I do believe this reply has OP's best intentions in mind, but I find it to be a bit fatalistic. OP may very well have "the touch", it just may be that this particular venture wasn't the right opportunity for that to shine through. My point is, noone can tell you how far you will or will not go in life; a single failure is a data point, sure, but only one among many. If OP wants to go on continue being an entrepreneur, he should learn from his mistakes, dust himself off, and go at it again if he can find the opportunity.
Agreed... in essence this is why we're all here. As entrepreneurs we all educated risk takers, and we realize any venture is essentially gambling if there is no edge. At any time, there could be a new idea that pushes any one HFT algorithm (or mobile photo sharing app, or words with friends clone) past the established mindshare into blue ocean territory. When that time comes, do you want to be caught with your pants down, lumbering under the excuse that you thought the oceans were too red for you to bother?
This is the best answer I've seen on here so far as to why Quora isn't ready for prime time, and why sites like Reddit will end up delivering better content over time. Sure, all of the atrocities mentioned (downvoting into oblivion, banning, etc) happen on Reddit too. However, when it happens there, I'll remain butthurt only as long as it takes to switch to any of my other accounts. The concept of karma exists there only to validate one's reputation to self, and not to validate one's reputation to others. By creating a more ephemeral concept of identity, Reddit has solved the 'ego' problem.
In the future, I see social networking sites dividing into one of two camps : sites like facebook, which are about vanity, and sites like Reddit, which are about content. It would be best for future entrepreneus to decide up front which camp they're in, long before they face the pickle Quora is currently suffering from.
Ironic; one could just as very well claim that America's mainstream media is among the most hype-driven in the world. Conversely, one could also make the claim that an app line Drones+ aims to take the hype out of the equation, by offering no-nonsense factual data.
Non-YC founder here as well. Please don't read results like this and think there is no way you will have success as a founder if you do not get into an incubator by this age. Rather, what should be looked at is that YC looks for a very specific profile when grooming their prospective companies. They want young, vibrant, fearless candidates whose idealism allows for a significant chunk of ownership to be forked over in exchange for connections and press. As founders get older, we tend to learn there is more than one way to skin a cat. So you'll see us learning our own ways to network, or get press, or get traction.
What a novel concept: users actually wanting to create and see ads because they are so incredibly targeted and relevant. I wonder at what point facebook lost their grasp around such a tightly coupled ecosystem.
I'm no expert in the going rates for storage space, but it seems kinda far-fetched that customers would be willing to pony up enough cash to sustain a business like this. After all, we have guys like dropbox who set the bar pretty high, allowing 90% of their customers to use the service for free. I'm assuming part of how dropbox is able to maintain sustainable cost is by treating storage and bandwith as an economy of scale, which is the exact opposite of the piecemeal model StorJ is proposing.
Never had a problem letting my brain come up with solutions of its own. The problem lies in that my brain often comes up with solutions that are overly complex, which take a lot of work. The headache comes from trying to distill those raw ideas down into something more manageable.
Could someone explain what motivates Microsoft to try and "completely reimagine" their OS every time they iterate? We're talking about an OS, not a video game. I get that they're trying to innovate, but it comes across as self-deprecating.
I love how Apple has maintained uniformity in their UI across the past few iterations of OSX. It's just one less thing to worry about relearning, allowing me to get my work done easier.
IMO it has to do with the fact that Quora forces you to state your real name and credentials when creating an account. Although certain people will feel this is the way to ensure answers are given by the best possible authority on a subject, it actually hinders the meritocracy of user-driven content. Uneducated but well-informed Quora users may feel it's not worth their time to contribute, because they'll just be overshadowed by someone with better credentials. In essence, it's like paying for a game's DLC instead of putting in the time to earn it on your own, cheapening the experience for all.
I was one of the first appstore millionaires via my app Trism... I wrote it in my offhours before the appstore launched. Story here -> http://bit.ly/psyMBf
Lots to say on the subject. Press is disorienting. Friends do change. Noone can tell you what the value of your idea is. Best thing you can do with your time in the spotlight is make good connections and learn the importance of good relationships.
I'm a single founder who's had success, and am toying around with the idea of starting an incubator. Wouldn't mind a partner this time around -- the single founder way is great for utmost control but sometimes you need someone to help you see the forest for the trees.