The only reason I watched this past the 2 mins mark is because he didn't wait to the end to tell us what he did wrong and how he could have done it better. He went straight to business. Beautiful, absolutely beautiful.
I've been watching your videos for a while and trying to catch up to your past ones. I have to say thank you. Besides being so insightful and inspiring I appreciate your transparency, humbleness, and no hype or no BS approach. And it's all feels meditative. Thank you.
Watching this after loosing one Hackathon, loved the way you portrayed your learnings, just one request, keep posting , I've completed almost all of your videos because failure doesn't mean no worth no success ..to me it means a great lesson and better way... keep sharing Garry.... would definitely meet you one day.
I found your channel yesterday and I can say this is one of the channels with no beating around the bush going straight to the point. I am a software engineer and your video about being a builder in the modern age and leveraging on it really motivated me. Garry, please continue posting your knowledge bytes here. Thank you for doing this! One of the honest channels here on YT!
I love how sincere and honest this video is! This is serious my first comment on UA-cam haha. Great advice on not trying the best of both worlds and have a laser focus! Would love to bring you a coffee to ask about the future of our platform someday :)
Thank you for this, Garry. As a late seed-stage company building a "market network", we have struggled to answer this question in the past. We came to the understanding that being a "network" and having "network effects" are not the same thing. Different businesses and business models can aim to increase their defensibility and overall company value by identifying what kind of network effects best applies to their model. A network will inherently have personal and/or direct network effects. I think NFX also does a great job of explaining the differences.
The content you're providing us Garry is billion times more better than the ones who's having a "Team". Keep up the Good work man❤️ Your channel & especially you are one of those gems UA-cam community has always needed
Thank you, Garry. This was such a simple and yet powerful video. As an executive, it can sometimes be so easy to show bravado when answering questions, quickly providing an answer that we think is what the other person wants hear without fully evaluating and understanding the question. I've found through experience that people would much rather that you ask follow-up questions rather than assume a solution or answer that doesn't work. I'm not perfect and I definitely still give the wrong answers sometimes, but taking the time to ensure that I understand the question posed has been immensely helpful to maintaining the trust with person who has posed it. My partner and I are starting our own tech startup right now and your videos have been immensely helpful to our own journey to grow in the correct way and build trust with whom we work.
Asking questions and asking them back is the single most important thing in business. People have this natural tendency to show they know it all, especially in corporate environments.
Hi Garry, I have been building my startup on the side while going to school. I am co-founding it with my longtime high school friend and we are expecting to have an MVP come June. It's a scary jump out of college to pursue this, rather than a more traditional path, but we are excited about the learning experience to come. Your videos have not only been a source of information, but also a source of inspiration - so, thank you.
Hey man so glad I found your channel! My small business I started in 2016 went bankrupt this year. I transitioned to self teaching myself computer science and am going back to school to solidify my learning. I guess the "failure" made me shy away from entrepreneur endeavors as I was discouraged and felt bad. But seeing the positivity in your channel and you being successful and interviewing othr successful people is really inspiring! Its a nice change of pace to see people who have sold their companeis and our transparent about the process compared to self help gurus who will hide how they made their money at all cost.
As a founder, I'm going through the same thing right now. Network vs Platform. I was just thinking about a pivot from the former to the latter. Thank you for your videos, Garry, they are very well done, insightful, and very useful!
New videos, old videos don't matter. Each of them applies to a different aspect of a startup. I was just thinking about a similar problem, and now I know what to do. Thanks a lot, Garry! Hope to meet you one day.
Hi Garry, just my 2 cents: with the introduction of technological improvements, both hardware and software (improved SSDs, A/B testing, etc.), that enable/facilitate the collecting & analyzing of the huge amounts of data out there, I can see why a VC would be hesitant to invest in a startup that can not / does not make a choice, if for the simple fact that it shows the founders haven't tried (and/or failed) enough to succeed. IMHO. Thanks for all the great content! We all appreciate it!
Thanks! Well, network vs platform is mainly about monetization, I think. But overall software/hardware is remaking society, and doing it relatively quickly. The entire reason why I ended up becoming a VC is basically that. I'm an engineer who ended up learning how to access and deploy capital.
Yea, for sure, hardware/software is definitely changing everything. I guess what I'm trying to say is that with the decision making process being "powered" by these improvements, any team that doesnt make use of the tools available to them is not a good look, at least if I was an investor, you know what I mean? Question RE: monetization: Is finding a product market fit binary in such a way? In where a product can only be a platform OR network? If no, What are some other "examples" for this "class" ?
I never post comments but I just needed to chime in to boost your engagement. Your insight is much appreciated and I really hope you grow because of it. Thanks
another very inspiring video. I see a lot of startup get frustrated when answering these type of question, and start to challenge the investors. As a mentor and investor myself, I often share with founder that what Garry you have pointed out that investors are fortunate to see these new "vectors" / "elements", there is a overall understanding of how all the new startup fits together in a evolving developing "matrix" as you pointed it out. I love the way how you are describing this investor advantage/privileges. Thus, I often encourage startup founders to ask questions and it is okay not know all the answer. Sometimes instead of being tense and attempting to answer all the question right, why not to have a conversation with clear head of being well prepared, precise, and not always need to be right with mindset of getting all the answer right.
Thanks for sharing your experiences. Sharing mistakes is FAR more useful than sharing successes, since we learn FAR more from the former than the latter. And it takes courage, humility and confidence to share mistakes. Silicon Valley is about it being ok to make mistakes. No one doing anything original gets everything right. By definition, being "at the edge of chaos" means not knowing all the answers.
Thanks for this video and thanks to making it clear because most of the startups they always what to go fo all-inclusive project and they forget that they need to choose and they evolve or take another road! Thanks again. Peace!
“Platform versus network” is a huge distinction. The network are the users (and monetize the users). So being a “platform” means that your technology and solution via your “platform” is something you built and has a competitive advantage, right? For instance, can our company still be a “platform” if we’re using a no code app or template? No, right?
Well if people pay you then you are a platform. In my experience platforms are generally far more viable in 2020 and a lot of the networks have been created for now
@@GarryTan Do you think that fleshing out decentralized networks could be the new networks in the future, just as current networks may be built on top of the mobile revolution?
Awesome stuff as usual Garry. Since you asked, I make UA-cam videos on public speaking, noticed that a lot of technical founders pre-seed couldn't afford speech coaches to refine the way that they explained their ideas to the world, so made free videos for them. This was a great video, keep up the awesome content man.
@@GarryTan for sure, thanks for what you do as well, not many UA-cam channels are going into these concepts as much as you are. Shared this with all the founders I'm working with, excited to follow the journey, be well!
Good job. There are a ton of these types of choices. A mentor once told me, you can’t be all things to all people. Value comes from the choices we make. Doing both is rarely the right answer.
Hi Garry, new to the tech industry as a career changer, and helping start a community called Mentor Mesh with Jae Taylor from Salesforce to help people break into tech and create start-ups. Great content, wonderfully honest presentation style, really inspiring stuff! Definitely hitting that subscribe button, so much value here.
Hey Gary , I'm a startup founder . We're an online esl teaching company. I think we're both a network and a platform, since we sell subscriptions to to language learners who get monthly number of online classes with tutors and also get to use our website to have voice chats with other learners to practice English . Oh wait the latter is not free as well. 😅 I guess we're just a platform. Thanks for the great content
I’m a cofounder of a startup and realizing without passion for what you are doing it is so hard to keep going. We’re raising our seed round and mostly getting No’s while pushing sales but your information has been helping me temper expectations and understanding mistakes this early on is normal. 😓
This video definitely helps many founders/PMs to clear that up. I've made that mistake when I was confused with "marketplace, platform, and network", only if I learned that sooner ....haha
I made a similar mistake in a pitch meeting. In my case it was B2B or B2C. Both is the wrong answer... Excellent video 👍 Reaffirms the belief that its better to focus!
Great video! Only thing is please make the voice volume higher for future vids as it's pretty low right now. Keep going great insights into the mind of someone who's already done it!
If i were asked that question about my business I think I would have said both in the moment as well...... glad I found this channel.... very helpful 👍🏼
Hey Garry, This is great stuff here especially for a first time founder of my own app Evntures ( which helps you find 💩 to do) . There is not a lot of direction or insight especially here in central Texas. But good to here authentic stories to help my company on our journey forward. Thanks and Subscribed to hear more!
Thank you, Garry, for providing so much value on this channel. I am new to Product Management and insights from your videos helping me to develop the product in a very efficient way.
Subbed, cause currently I am GeekSquad remote support, but I am more interested in having a business/start up, after burning my eyes for 9.5 hrs in front of the company provided computer, i burn my eyes for 3 hrs more in front of my personal laptop so i could reach the goal of having my own startup.
Thank you! Yes, pitches are crazy, and you only have one chance at them. Luckily there are lots of investors, and the reality is people are looking for fast growing businesses. If you have growth, you'll have a way forward, regardless of any given conversation.
That vector and matrix analogy was inspiring!!! Now that I am trying to grasp the matrix with a tech analysis internship my old vector seems to be a lost cause...
Thanks for sharing this story Garry, your insights and experiences are really helpful for prepping the mindset when dealing with potential investors. We learn from each other's mistakes, so glad you were humble enough to share.
Thanks Garry! I've got a side hustle I've been running for 23 years now. Your video came to me at a time where I need to think about platform vs network. I think one can live inside the other. That is what I will explore. Also, you might want to look in to the "Value-for-Value" model. I'm leaning towards that. Adam Curry of the No Agenda podcast uses that with some success.
Just found your channel and sent you a LinkedIn request. I’ve shared this channel with a few others and I’m loving your content and one of the most important things is you’re also making me laugh superG 🤣🙏🚀
Your video production quality is phenomenal and constantly improving. It's really cool to see prominent people from the YC/tech/VC sphere move onto this platform and make quality content to help others--it seems to me like you're spearheading the wave!
Hi Garry, good day. Hope it's not to much to ask but i have a couple of questions: 1. Have you talked to Peter if that was the reason why you didn't get funded? - you mentioned you think it was all doing great until that question. 2. What was his response after you answered both? 3. and could there be other reason why you think they didn't fund Posterous? on the comments you mentioned you knew what the question was, the definition between platform and network,and you 3 answered both, and this I think you can confirm, 4. was your answer because you think it could be both? - because you also said in the comments "after product market fit at mass scale you can be whatever you want" 5. What have you learned as an investor now from that experience? - Posterous was two years earlier than Instagram, 6. would it make a great difference if Peter would have just said that either you're a platform or network and go from there? 7. Now as an investor Garry , and a founder before, would you not fund the company because they didn't give you the answer you were expecting them to give? Thank you so much for your time.
I’m a Chef in NYC. Im at the Sous Chef level. My next job was to start on March 23 would have set me up to go to that executive/operator level. I have built an strong resume but more importantly years of experience and wisdom as a cook and kitchen manager. Since COVID and a city shutdown in March jobs are scarce. I wanted to pivot into restaurant venture capital. I was thinking of going back to school to learn restaurant management. I’m 41. Any advice or insight?
I’m not sure if there is a such thing as restaurant venture capital. However it is quite worthwhile to create something like that. I think the hard part is that physical restaurants are very hard to replicate and successes are so rare that it is hard to raise money for them. Even very successful restauranteurs frequently misfire. So it would be hard obviously. There are lots of private equity investors for this though. So maybe you should be thinking PE and at that point you should find people who have your background that have been successful at what you are trying to do.
I love your videos...I'm from NYC and I am really juggling between job prep and startup stuff and your videos and Y-combinators bring some much-needed clarity. Thank you would def like to meet one day
Gary so much useful information man. I m listening and writing it down the notes like Gary’s Principle of business similar to “Ray Dalio’s book call Principle”. Thank u so much. Out of all the info and UA-cam’s on entrepreneurship, yours is like top of the top and truly remarkable. Thank u 🙏🏽
It is actually great to listen to the insights coming from the other side of the table from the experience of the opposite side (pitching for the startup). It actually is helpful and gives better direction on what all can be expected while pithing ! Great content.. Thanks Garry!
Hi Garry. Very insightful information for Enterpreneurs'...Questions - Do you invest in; 1.Block-chain healthcare data management projects in Africa with an estimated population of 1.3 billion people? 2. In firms that have not found a suitable technical co-founder for the team? Regards
I am a new subscriber and I have watched couple of your videos these days, I can feel your emotions in this video :) Thanks for sharing your own experience! "Are you a platform or a network" has been a question I ask for myself for a while, it is really helpful to hear your experience !
I have watched a number of your video and all of them are insightful including this one. This one is just as insightful but I have a different thought on the purpose of the question of "are you a platform or a network?". I think he asked this is because he wanted to find out how well you and your partner know about your own startup. How deep and thorough you have think about the vision and core of the startup and this in term will lead to very different business model and strategy. Growing a network or a platform is very different. Instagram and twitter won because they embrace the smartphone and how users create and consume contents with a smartphone.
Great Video! Clear communication requires a common understanding of terms and concepts. Also important is the ability to understand the perspective, experience, and motivation for the investors you connect with. Sharing your experience certainly helps founders better understand the mindset of the investor and highlight the importance of understanding the positioning of the startup through the eyes of the investor. I found that describing my startup changes based on my audience and is in constant refinement to be clear, succinct, and comprehensive.
This was the best video i ever got on youtube with this type of content. Big respect man. I am 18 and I'm starting a tech company. I submitted my pitch deck yesterday to the investors. Thanks for your video. i didn't find your company's email on your website...mind sharing it here? i wanted to pitch to your comp.
but is it necessary that as entrepreneurs we need to commit them and there. I am thinking a realistic idea is possible only after initial product market fit
I appreciate it, I'm learning so much this past year as I build a SAAS around Internet Browsing Automation and your additions are the cherry on the top, a lot of what you say reaffirm ideas that I already believed in and many others are just "woah, I didn't see it that way". I'll keep watching the videos, thank you for sharing your knowledge and experiences.
Garry, What would you categorize an “App store” type marketplace as ? Is that a platform or network? They are making $ by taking %fees from developers; but also have network effect?
The only reason I watched this past the 2 mins mark is because he didn't wait to the end to tell us what he did wrong and how he could have done it better. He went straight to business. Beautiful, absolutely beautiful.
No tricks over here!
@@GarryTan True. Thank you very much.
@@GarryTan It's the reason why I clicked the bell.
Its inverted pyramid rule of @@GarryTan 😊👏👏👏
Your real life startup experiences are worth more than the 200,000$ MBA.
Thanks Manish!
Investor: “Do you have any revenue?”
Founder: “Both. Wait, actually, I don’t understand the question.”
LOL
This comment is legendary 😂
Lol, this made me laugh out loud.
so true, so true
Investor : Revenue.. R-E-V-E-N-U-E..
Founders : oh it's Network then!
Investor : What!?
Thank you for sharing! I founded a Startup 1,5 years ago and today we are going to sign the contracts with our first investor 👌💯 awesome channel
I've been watching your videos for a while and trying to catch up to your past ones. I have to say thank you. Besides being so insightful and inspiring I appreciate your transparency, humbleness, and no hype or no BS approach. And it's all feels meditative. Thank you.
You are so welcome! Thanks for watching.
Watching this after loosing one Hackathon, loved the way you portrayed your learnings, just one request, keep posting , I've completed almost all of your videos because failure doesn't mean no worth no success ..to me it means a great lesson and better way... keep sharing Garry.... would definitely meet you one day.
Thank you, I will
I found your channel yesterday and I can say this is one of the channels with no beating around the bush going straight to the point. I am a software engineer and your video about being a builder in the modern age and leveraging on it really motivated me. Garry, please continue posting your knowledge bytes here. Thank you for doing this! One of the honest channels here on YT!
Thank you for your encouragement!
I love how sincere and honest this video is! This is serious my first comment on UA-cam haha. Great advice on not trying the best of both worlds and have a laser focus! Would love to bring you a coffee to ask about the future of our platform someday :)
Thank you for this, Garry.
As a late seed-stage company building a "market network", we have struggled to answer this question in the past.
We came to the understanding that being a "network" and having "network effects" are not the same thing. Different businesses and business models can aim to increase their defensibility and overall company value by identifying what kind of network effects best applies to their model.
A network will inherently have personal and/or direct network effects.
I think NFX also does a great job of explaining the differences.
Yes most people are making platforms (charge money / make money directly from customers) these days - or marketplaces (take a cut of transactions)
The content you're providing us Garry is billion times more better than the ones who's having a "Team".
Keep up the Good work man❤️ Your channel & especially you are one of those gems UA-cam community has always needed
Thank you, Garry. This was such a simple and yet powerful video.
As an executive, it can sometimes be so easy to show bravado when answering questions, quickly providing an answer that we think is what the other person wants hear without fully evaluating and understanding the question. I've found through experience that people would much rather that you ask follow-up questions rather than assume a solution or answer that doesn't work. I'm not perfect and I definitely still give the wrong answers sometimes, but taking the time to ensure that I understand the question posed has been immensely helpful to maintaining the trust with person who has posed it.
My partner and I are starting our own tech startup right now and your videos have been immensely helpful to our own journey to grow in the correct way and build trust with whom we work.
I am really grateful that you take the time to put these out, Garry. We can't have enough thoughtful creators with solid backgrounds like this.
Thank you Johan!
Asking questions and asking them back is the single most important thing in business. People have this natural tendency to show they know it all, especially in corporate environments.
Yes I love people who are thoughtful. The ideal type of founder to work with
Hi Garry, I have been building my startup on the side while going to school. I am co-founding it with my longtime high school friend and we are expecting to have an MVP come June. It's a scary jump out of college to pursue this, rather than a more traditional path, but we are excited about the learning experience to come. Your videos have not only been a source of information, but also a source of inspiration - so, thank you.
Good luck Chapin! Be sure to get it in front of users and customers and make it better with their help and feedback.
Garry Tan will do!
I have seen few of your videos, you certainly are giving out wealth in terms of knowledge that many wont have access to. Thanks Gary for doing this!
I appreciate that!
Hey man so glad I found your channel! My small business I started in 2016 went bankrupt this year. I transitioned to self teaching myself computer science and am going back to school to solidify my learning.
I guess the "failure" made me shy away from entrepreneur endeavors as I was discouraged and felt bad. But seeing the positivity in your channel and you being successful and interviewing othr successful people is really inspiring! Its a nice change of pace to see people who have sold their companeis and our transparent about the process compared to self help gurus who will hide how they made their money at all cost.
Fall down 9 times, get up 10 :-)
Coder by trade over 25 years. Continue to learn from your videos. Thanks Gary for sharing
This channel is gold dust. Thank you.
As a founder, I'm going through the same thing right now. Network vs Platform. I was just thinking about a pivot from the former to the latter. Thank you for your videos, Garry, they are very well done, insightful, and very useful!
New videos, old videos don't matter. Each of them applies to a different aspect of a startup. I was just thinking about a similar problem, and now I know what to do. Thanks a lot, Garry! Hope to meet you one day.
For you, I'm so sorry that happened but for me I'm so grateful that you were willing to share your experience with us so that we can learn from it.
You are so welcome!
Hi Garry, just my 2 cents: with the introduction of technological improvements, both hardware and software (improved SSDs, A/B testing, etc.), that enable/facilitate the collecting & analyzing of the huge amounts of data out there, I can see why a VC would be hesitant to invest in a startup that can not / does not make a choice, if for the simple fact that it shows the founders haven't tried (and/or failed) enough to succeed. IMHO.
Thanks for all the great content! We all appreciate it!
Thanks! Well, network vs platform is mainly about monetization, I think. But overall software/hardware is remaking society, and doing it relatively quickly. The entire reason why I ended up becoming a VC is basically that. I'm an engineer who ended up learning how to access and deploy capital.
Yea, for sure, hardware/software is definitely changing everything. I guess what I'm trying to say is that with the decision making process being "powered" by these improvements, any team that doesnt make use of the tools available to them is not a good look, at least if I was an investor, you know what I mean?
Question RE: monetization: Is finding a product market fit binary in such a way? In where a product can only be a platform OR network? If no, What are some other "examples" for this "class" ?
I never post comments but I just needed to chime in to boost your engagement. Your insight is much appreciated and I really hope you grow because of it. Thanks
Many thanks!
Thanks to youtube gods i found your channel, i have started my company, which is not doing so well, the wisdom in your videos keeps me motivated
another very inspiring video. I see a lot of startup get frustrated when answering these type of question, and start to challenge the investors. As a mentor and investor myself, I often share with founder that what Garry you have pointed out that investors are fortunate to see these new "vectors" / "elements", there is a overall understanding of how all the new startup fits together in a evolving developing "matrix" as you pointed it out. I love the way how you are describing this investor advantage/privileges. Thus, I often encourage startup founders to ask questions and it is okay not know all the answer. Sometimes instead of being tense and attempting to answer all the question right, why not to have a conversation with clear head of being well prepared, precise, and not always need to be right with mindset of getting all the answer right.
Thanks for sharing your experiences. Sharing mistakes is FAR more useful than sharing successes, since we learn FAR more from the former than the latter. And it takes courage, humility and confidence to share mistakes.
Silicon Valley is about it being ok to make mistakes. No one doing anything original gets everything right. By definition, being "at the edge of chaos" means not knowing all the answers.
Good points here. Thank you!
I am a retail investor. Probably means nothing to you, but I appreciate your videos. Keep on the great work.
Excellent guidance @Garry. Thank you.
Glad it was helpful!
Thanks for this video and thanks to making it clear because most of the startups they always what to go fo all-inclusive project and they forget that they need to choose and they evolve or take another road! Thanks again. Peace!
“Platform versus network” is a huge distinction. The network are the users (and monetize the users). So being a “platform” means that your technology and solution via your “platform” is something you built and has a competitive advantage, right? For instance, can our company still be a “platform” if we’re using a no code app or template? No, right?
Well if people pay you then you are a platform. In my experience platforms are generally far more viable in 2020 and a lot of the networks have been created for now
@@GarryTan Do you think that fleshing out decentralized networks could be the new networks in the future, just as current networks may be built on top of the mobile revolution?
Wow! I just discovered your channel, and I must say, that you are a genuine guy. Thank you for your stories and advices!
I appreciate that!
Awesome stuff as usual Garry. Since you asked, I make UA-cam videos on public speaking, noticed that a lot of technical founders pre-seed couldn't afford speech coaches to refine the way that they explained their ideas to the world, so made free videos for them. This was a great video, keep up the awesome content man.
Awesome! Thanks for doing that Mastertalk. Being able to communicate clearly is really important for founders.
@@GarryTan for sure, thanks for what you do as well, not many UA-cam channels are going into these concepts as much as you are. Shared this with all the founders I'm working with, excited to follow the journey, be well!
This has been really informative for me...I am currently working on a web3 project and I now have more clarity after watching this.❤
Good job. There are a ton of these types of choices. A mentor once told me, you can’t be all things to all people. Value comes from the choices we make. Doing both is rarely the right answer.
Truth!
I'm glad I found this channel too Garry, as a founder about to embark on the journey, its both thought provoking and inspiring.
Great point. " If you don't fully understand the question -- ask! it's okay "
Thanks for being the spark and helping me realize something I already believed in will now be more profoundly relevant in my future.
Your video helped us build a better relation with our VC. Thanks forever Garry !
Glad to help
Hi Garry, new to the tech industry as a career changer, and helping start a community called Mentor Mesh with Jae Taylor from Salesforce to help people break into tech and create start-ups. Great content, wonderfully honest presentation style, really inspiring stuff! Definitely hitting that subscribe button, so much value here.
Hey Gary , I'm a startup founder . We're an online esl teaching company. I think we're both a network and a platform, since we sell subscriptions to to language learners who get monthly number of online classes with tutors and also get to use our website to have voice chats with other learners to practice English . Oh wait the latter is not free as well. 😅 I guess we're just a platform. Thanks for the great content
Garry Tan, your channel is gold! Thank you for what you do, it helps a lot for my startup. Saying this after watching almost all your videos. :)
Thank you Gary! Precious lesson!
Great lessons Gary! As a biotech entrepreneur the specific question may not relate, but the message definitely resonates!
Thanks for watching!
Hey Gary, love seeing the evolution of these videos! As a young person just getting started, they are really useful.
Great to hear!
Garry, I appreciate you so much. Your videos are truly helping me in a way that I didn’t know UA-cam could. THANK U
I’m a cofounder of a startup and realizing without passion for what you are doing it is so hard to keep going. We’re raising our seed round and mostly getting No’s while pushing sales but your information has been helping me temper expectations and understanding mistakes this early on is normal. 😓
Very few people end up raising money
Awesome. We are starting aStartup in Cancun MX and hopefully pitching next year. Thank you for all videos
Good luck!
This video definitely helps many founders/PMs to clear that up. I've made that mistake when I was confused with "marketplace, platform, and network", only if I learned that sooner ....haha
Oh yes, I didn't even cover marketplaces.
Thank you, Garry. I really appreciate your wisdom.
Thanks for watching Martin!
Glad I found this channel man! These videos are quality and really inspiring
Thank you for watching!
Yes, very inspiring. Hehe
I made a similar mistake in a pitch meeting. In my case it was B2B or B2C. Both is the wrong answer... Excellent video 👍 Reaffirms the belief that its better to focus!
I love your channel Garry. Really educational. Edmond, Founder of Track Your Build Africa.
Thank you Edmond!
Great video! Only thing is please make the voice volume higher for future vids as it's pretty low right now. Keep going great insights into the mind of someone who's already done it!
Thanks, will do!
If i were asked that question about my business I think I would have said both in the moment as well...... glad I found this channel.... very helpful 👍🏼
Well, it's hard to see around corners, but if we tell the stories we can help each other avoid the obvious mistakes.
Hey Garry, This is great stuff here especially for a first time founder of my own app Evntures ( which helps you find 💩 to do) . There is not a lot of direction or insight especially here in central Texas. But good to here authentic stories to help my company on our journey forward. Thanks and Subscribed to hear more!
Thanks for watching!
We are building a healthtech platform in Brazil and I'm glad not learning it by the hard way. Thanks for sharing!
Thank you for sharing your experience. Building a startup is tough but your videos are of great value to new founders like us.
Thanks for watching!
Thank you, Garry, for providing so much value on this channel. I am new to Product Management and insights from your videos helping me to develop the product in a very efficient way.
Este canal es una joya oculta.
Buen video. Es una valiosisima y muy cara lección aprendida. Gracias por compartir!!
Its not only relevant , its great insight. Thanks.
You give value to folks. I respect that. Subscribed.
Thanks for watching! Just genuinely trying to help over here
Thanks Gary. Much appreciated. I'm learning so much as I'm conceptualising my startup.
Excellent!
Subbed, cause currently I am GeekSquad remote support, but I am more interested in having a business/start up, after burning my eyes for 9.5 hrs in front of the company provided computer, i burn my eyes for 3 hrs more in front of my personal laptop so i could reach the goal of having my own startup.
This video quality is on point! Your voice is so soothing. Although the topic is actually quite stressful. As a founder myself, I 100% agree with you.
Thank you! Yes, pitches are crazy, and you only have one chance at them. Luckily there are lots of investors, and the reality is people are looking for fast growing businesses. If you have growth, you'll have a way forward, regardless of any given conversation.
Thank you for sharing, Garry
Thanks for watching Irma!
I love your genuine concern for others Gary. I wish we could pitch Initialized but, you've funded one of our competitors. 😉
That vector and matrix analogy was inspiring!!! Now that I am trying to grasp the matrix with a tech analysis internship my old vector seems to be a lost cause...
There are new vectors all the time
Thanks! It’s really our case right now:) Can we have more advice from you, maybe by e-mail?
Thanks for sharing this story Garry, your insights and experiences are really helpful for prepping the mindset when dealing with potential investors. We learn from each other's mistakes, so glad you were humble enough to share.
Every highlight reel has a much longer blooper reel
My first startup taught me so many lessons. You learn really quickly that you only get one shot at nailing down investment.
Thanks Garry! I've got a side hustle I've been running for 23 years now. Your video came to me at a time where I need to think about platform vs network. I think one can live inside the other. That is what I will explore. Also, you might want to look in to the "Value-for-Value" model. I'm leaning towards that. Adam Curry of the No Agenda podcast uses that with some success.
Well I didn’t cover this in the video but marketplaces are a third thing that is viable
Just found your channel and sent you a LinkedIn request. I’ve shared this channel with a few others and I’m loving your content and one of the most important things is you’re also making me laugh superG 🤣🙏🚀
You're awesome. This channel deserves more subs. Good luck!
"Neither"
galaxy brain answer
Someone give this man a cookie for this great video.
Your video production quality is phenomenal and constantly improving. It's really cool to see prominent people from the YC/tech/VC sphere move onto this platform and make quality content to help others--it seems to me like you're spearheading the wave!
Thanks Roddur
Hello Gary!! Thank you so much for all your video blessings you're a startup guide 101! Please continue creating these videos!
Hi Garry, good day.
Hope it's not to much to ask but i have a couple of questions:
1. Have you talked to Peter if that was the reason why you didn't get funded?
- you mentioned you think it was all doing great until that question.
2. What was his response after you answered both?
3. and could there be other reason why you think they didn't fund Posterous?
on the comments you mentioned you knew what the question was, the definition between platform and network,and you 3 answered both, and this I think you can confirm,
4. was your answer because you think it could be both?
- because you also said in the comments "after product market fit at mass scale you can be whatever you want"
5. What have you learned as an investor now from that experience?
- Posterous was two years earlier than Instagram,
6. would it make a great difference if Peter would have just said that either you're a platform or network and go from there?
7. Now as an investor Garry , and a founder before, would you not fund the company because they didn't give you the answer you were expecting them to give?
Thank you so much for your time.
I’m a Chef in NYC. Im at the Sous Chef level. My next job was to start on March 23 would have set me up to go to that executive/operator level. I have built an strong resume but more importantly years of experience and wisdom as a cook and kitchen manager. Since COVID and a city shutdown in March jobs are scarce. I wanted to pivot into restaurant venture capital. I was thinking of going back to school to learn restaurant management. I’m 41. Any advice or insight?
I’m not sure if there is a such thing as restaurant venture capital. However it is quite worthwhile to create something like that. I think the hard part is that physical restaurants are very hard to replicate and successes are so rare that it is hard to raise money for them. Even very successful restauranteurs frequently misfire. So it would be hard obviously.
There are lots of private equity investors for this though. So maybe you should be thinking PE and at that point you should find people who have your background that have been successful at what you are trying to do.
@@GarryTan Thank you for taking the time to reply. I was thinking about working for company’s like this:
ehi.fund/
I love your videos...I'm from NYC and I am really juggling between job prep and startup stuff and your videos and Y-combinators bring some much-needed clarity. Thank you would def like to meet one day
You got this!
Gary so much useful information man. I m listening and writing it down the notes like Gary’s Principle of business similar to “Ray Dalio’s book call Principle”. Thank u so much. Out of all the info and UA-cam’s on entrepreneurship, yours is like top of the top and truly remarkable. Thank u 🙏🏽
It is actually great to listen to the insights coming from the other side of the table from the experience of the opposite side (pitching for the startup). It actually is helpful and gives better direction on what all can be expected while pithing ! Great content.. Thanks Garry!
Hi Garry.
Very insightful information for Enterpreneurs'...Questions - Do you invest in;
1.Block-chain healthcare data management projects in Africa with an estimated population of 1.3 billion people?
2. In firms that have not found a suitable technical co-founder for the team?
Regards
I am a new subscriber and I have watched couple of your videos these days, I can feel your emotions in this video :) Thanks for sharing your own experience! "Are you a platform or a network" has been a question I ask for myself for a while, it is really helpful to hear your experience !
Thanks for subbing!
I'm a builder, engineer, and a startup founder at the moment, is that the wrong answer?! Lol. Great topic and I'm definitely subscribed
I have watched a number of your video and all of them are insightful including this one. This one is just as insightful but I have a different thought on the purpose of the question of "are you a platform or a network?". I think he asked this is because he wanted to find out how well you and your partner know about your own startup. How deep and thorough you have think about the vision and core of the startup and this in term will lead to very different business model and strategy. Growing a network or a platform is very different. Instagram and twitter won because they embrace the smartphone and how users create and consume contents with a smartphone.
Great points cool thought!
Great Video! Clear communication requires a common understanding of terms and concepts. Also important is the ability to understand the perspective, experience, and motivation for the investors you connect with. Sharing your experience certainly helps founders better understand the mindset of the investor and highlight the importance of understanding the positioning of the startup through the eyes of the investor. I found that describing my startup changes based on my audience and is in constant refinement to be clear, succinct, and comprehensive.
Great points Oliver!
This was the best video i ever got on youtube with this type of content. Big respect man. I am 18 and I'm starting a tech company. I submitted my pitch deck yesterday to the investors. Thanks for your video. i didn't find your company's email on your website...mind sharing it here? i wanted to pitch to your comp.
Thanks, I open my IG DMs.
Great story telling. This opener was such a great book. Keep it up!
Glad you enjoyed it!
"What do you mean by that and why"
Good simple question, doesn't always hurt to admit you don't understand something
Exactly!
but is it necessary that as entrepreneurs we need to commit them and there. I am thinking a realistic idea is possible only after initial product market fit
Thanks man. I'm glad I found this channel today
Glad to hear it
Hi Garry, I'm glad I found this channel too
wow, the UA-cam algorithm is on point! Subscribed.
Thank you!!
Thanks Garry, that was very insightful. Always have something to take away from your video.
Glad it was helpful!
Garry, I am jealous of you , how much you know, so much you know.
Thank you for sharing your amazing background and expertise! this channel is a real treasure and I am happy I have a chance to learn from you here!✨
Welcome aboard!
Bullseye.
Thanks for the hard work you do and sharing the experience.
Thanks for watching!
Awesome video, I am on my journey to grow my startup. Thank You
I appreciate it, I'm learning so much this past year as I build a SAAS around Internet Browsing Automation and your additions are the cherry on the top, a lot of what you say reaffirm ideas that I already believed in and many others are just "woah, I didn't see it that way". I'll keep watching the videos, thank you for sharing your knowledge and experiences.
Thank you for watching Daniel!
Garry, What would you categorize an “App store” type marketplace as ? Is that a platform or network? They are making $ by taking %fees from developers; but also have network effect?
The former means it's a platform. A platform is an informal subset of a network.
In india many founder are against this,some might go on launching
Thanks mate ... Helps us youngsters a lot to hear stories like these