Facebook wasn't the first social network. So maybe being first doesn't matter. But, being better, faster, or cheaper? That matters a lot.

Lessons from Airbnb, Amazon, Robinhood, Coinbase, Instacart, Uber, Lyft, Discord, Flexport and Shopify.

I'm getting a lot of questions from founders and future founders. I'm realizing a lot of folks are not thinking about their startups in a way that will convince people to switch to use their products or services... and if that doesn't seem like it will happen, they won't be able to build teams, or raise money either. So the self-fulfilling prophecy cannot work. This video is for those founders. Can you describe what you are doing in classic better, faster, cheaper terms? If not, you need to.

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00:00 Intro
01:23 Why investors like novelty so much
02:30 How to be Better
04:41 How to be Faster
06:30 How to be Cheaper
09:06 You can figure this out

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I’m Garry Tan, venture capitalist and cofounder at Initialized Capital. I was earliest investors in billion dollar startups like Coinbase and Instacart, and I’m a Forbes Midas List Top 100 venture capitalist in the world. We want these videos to be about helping people build world-class teams and startups that touch a billion people. Our startups have gone on to create more than $40 billion in market value so far, and Initialized has over $770M in assets under management. I’m doing my own one man YouTube channel with no staff or crew — we're going for raw and unfiltered, not perfect.

Please like this video and subscribe to my channel if you want to see more videos like this!