Three Startup Ideas That Need to Die

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Here are 3 startup ideas that need to die…

1. An app to find your friends and hang out. This is everyone’s first startup idea.

It’s been tried a million times. Nobody wants it.

When I want to see my friends, I just send them a text. That’s what most people do.

We don’t want to be under surveillance 24/7. I don’t need my friends knowing that I’m sneaking donuts at Dunkin.

Even Sam Altman built a version of this idea, called Loopt. Turns out OpenAI was a better idea.

2. Event tech. I have seen every conceivable permutation. And I’ve passed on all of them.

This is an incredibly crowded space. There are 20 ticketing platforms to choose from.

Worse yet, there are no great outcomes in this area. Eventbrite was recently sold for $500 million.

That’s not an exit that excites investors.

3. Influencer marketing platforms. I’ve seen a ton of startups try to connect brands with influencers. None of them have become major businesses.

One problem: big influencer deals are often done directly, without a platform.

People have tried to crack this market for a decade. No one has succeeded.

I don’t see any reason that’s going to change.

Wrap-Up

I hate all three of these categories.

But feel free to prove me wrong! Maybe you can grow incredibly fast in one of them.

Humility is an important part of investing.

But if you want my advice, pick a market that isn’t littered with the carcasses of dead startups.

Try something different. Something crazy.

And let someone else build the 1000th event tech.