Next Time You’re About To Call A Startup ‘Stupid’ Remember These Two Stories

Next Time You’re About To Call A Startup ‘Stupid’ Remember These Two Stories

Megan Rose Dickey | May 1, 2013, 8:07 AM | 3,707 | 7

When a startup is in its early stages, it’s not always easy to determine if the product will be a hit.

Dustin Curtis, the creator of online magazine platform Svbtle, initially thought two startups that are now extremely successful were stupid when he first saw them.

“For some cruel reason, I keep finding myself in the position of being introduced to things in their infancy (often before they are even launched), dismissing them as stupid, and then watching them become unbelievably popular,” Curtis writes on Svbtle. “This has happened to me at least four times. Each time I vow never to call anything stupid again, and then, invariably, it happens again.”

It happened with Pinterest, the social bookmarking service worth around $2 billion. And then it happened again with Vine, the video app that Twitter acquired last year.

With Pinterest, Curtis wasn’t sold on the idea that middle-aged women would flock to a fashion- and design-oriented site for collecting and sharing products. Especially not one created by a twenty-something guy, Pinterest founder and CEO Ben Silbermann.

When Curtis met with Silbermann, he quickly dismissed the idea, concluding the product was stupid.Now, Pinterest brings in billions of page views per month. The most recent tally: 3.4 billion monthly page views from its 25 million members worldwide.

But Curtis apparently didn’t learn from his mistake right away. Last year, Vine co-founder Dom Hoffman met Curtis for dinner where he showed of his “Instagram for video” app.

“The app was very well designed and engineered, especially for a prototype, but I’ve had a lot of experience with photography and video apps, and I knew the odds were hugely against him,” Curtis writes. “The mobile video space is littered with the dead carcasses of previous attempts. How would this guy overcome all of the hurdles that the plethora of other attempts at mobile video have been unable to address?”

Once again, Curtis dismissed the idea.

Thinking back on those meetings, Curtis says he’s “kind of disgusted” by his reactions.

“Both of those guys are unusually passionate and driven, and you can tell within five seconds of meeting them,” Curtis writes. “They saw the future and they built it. But for some reason, my first reaction to their earliest attempts wasn’t to give them the benefit of the doubt–it was to immediately find problems and then dismiss their ideas.”

Unknown's avatarAbout bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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