Key insights

• ⚡ Good ideas often seem like bad ideas because they are in the sweet spot between already pursued ideas and obviously good ideas.
• 💡 Developing a good idea as an entrepreneur requires knowing a 'secret' that others don't believe.
• 🔧 Knowing the tools better than anyone else, like Dropbox's approach to cloud storage, is essential for developing a good idea.
• 🌐 Combining consumer internet and security perspectives can lead to success, as demonstrated by SiteAdvisor in the security industry.
• 🚀 Innovative ideas may initially look like toys or bad investments and may unbundle functions performed by others.
• 📱 The impact of social media on curatorial functions and the evolving nature of audiences contribute to the emergence of good ideas.
• 🌟 Good ideas often emerge as hobbies among technical enthusiasts and challenge social norms, like GitHub's open-source project origin.
• 🎯 Direct experience with tools, technologies, problems, or perspectives is a strong way to develop startup ideas, better than abstract concepts or conventional wisdom.

Q&A

• What influences the origin of good ideas?

  The origin of good ideas is influenced by hobbies among technical enthusiasts, changing landscapes in media and education, and the impact of social media on curatorial functions and audience evolution. Good ideas often start as dismissed or challenge social norms, as seen in GitHub's open source project origin and Flickr's default public photos.

• How do innovative ideas often disrupt industries?

  Innovative ideas often disrupt industries by challenging the status quo, unbundling functions performed by others, and initially appearing as toys or bad investments. They may be dismissed by powerful players but can lead to significant changes, as seen in the evolution of the telephone, Skype's challenge to the traditional telephone system, and the impact of the internet on the newspaper industry.

• What is the 'secret' of identifying good ideas as an entrepreneur?

  The 'secret' of identifying good ideas as an entrepreneur comes from direct experience and expertise, which are strong predictors for successful startups. Knowing tools, technologies, problems, or perspectives better than anyone else is essential. Challenging social norms and having a unique perspective, like the founders of Dropbox and Kickstarter, is also a characteristic of good ideas.

• Why do good ideas often seem like bad ideas initially?

  Good ideas often seem like bad ideas initially because they are in the sweet spot between already pursued ideas and obviously good ideas. They may challenge social norms, be dismissed by powerful players, or unbundle functions performed by others. Examples include Google's search engine and Airbnb's concept, which were initially met with skepticism but turned out to be successful startups.

• 00:00 Good ideas often seem like bad ideas because they are in the sweet spot between already pursued ideas and obviously good ideas. Examples include Google's search engine and Airbnb's concept, which initially seemed like bad ideas but turned out to be successful startups.
• 03:56 The early days of eBay seemed like a niche and weird behavior, and developing a good idea as an entrepreneur requires knowing a secret, such as having a belief that most other people don't believe. Knowing the tools or problems better than anyone else is essential.
• 07:40 Kickstarter's founder came from an artistic community and drew inspiration from the patronage model for the Arts. Similarly, SiteAdvisor's unconventional approach faced resistance from traditional players in the security industry, yet succeeded by combining consumer internet and security perspectives.
• 11:16 Innovative ideas may initially look like toys or bad investments and may unbundle functions performed by others. Examples include the telephone dismissed as a toy by Western Union and Skype challenging the traditional telephone system and changing the newspaper industry.
• 14:59 The changing landscape of media and education, and the origin of good ideas as hobbies. The impact of social media on curatorial functions and the evolving nature of audiences. The potential transformation of education akin to the evolution of newspapers. Good ideas often emerge as hobbies among technical enthusiasts.
• 18:46 Good ideas often start as dismissed or challenge social norms, like GitHub's open source project origin and Flickr's default public photos. Learning the 'secret' comes from direct experience and expertise, which are strong predictors for successful startups. Direct experience leads to better startup ideas than abstract concepts or conventional wisdom.