I just gave a talk at the University Of Sri Jayawardenapura along with Reeza Zarook of Anything.lk and Rohan Jayaweera of Google. These are my notes.
Devin Jayasundara asked me for a subject for this talk and I told him Internet property. But I talked to my fiancé Shru and she had a better idea. Startups aren’t about creating property at all, not really. They’re about creating territory, about creating land.
Over 500 years ago, explorers left their countries – be it Europe or China – and discovered ‘new’ land. Those explorers didn’t immediately make money, but they created value that repaid their investors with trillions of value, with control of the globe. China, of course, stopped funding their explorers and they’re only recovering just now.
That’s what aggressive startups are doing – they’re creating new virtual land, new territory that (most people) didn’t know existed. That’s why something like Instagram is worth a billion dollars with no revenue. Because they discovered that 100 million people like taking photos of their food and feet, and that’s a big piece of virtual land. Of course, that land could disappear, which you couldn’t say about America. But it’s still an exciting time.
So, doing an interesting startup is like being an explorer. You may not be making money right away, but if you’re discovering new things that can turn into money.
and a bit more. But that’s the gist of it.