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The New New Startup Economics

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The New New Startup Economics, my talk at 10x10 Shanghai 2012 on how the economic model of startups, and investing, has changed.

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The New New Startup Economics

  1. 1. The New New StartupEconomics Stephen Forte Weibo: SteveForte Twitter: @worksonmypc
  2. 2. My Experiences at Startups• Early 1990s – $20m to get from idea to paying customer• That number dropped in my startups: – 1999: $10m – 2002: $350k – 2007: $100k – 2011: $25k
  3. 3. Why?• 1999: 4GL languages, cheaper hardware• 2002: Internet, Outsourcing, recession• 2007: Virtualization, Skype• 2011: Cloud, recession
  4. 4. Pay as you go..• The elasticity of the cloud means that you only pay for the bandwidth/CPU that you need• In 2000, I had to spend $1m on a “server farm” – Today that would be free to start and would pay $100 a month after 6 months or so – You will *still* spend that $1m, but not up front!
  5. 5. What does this mean?• Raise less money!• Delay your raise, don’t waste time looking for $$, instead: – “Get the hell out of the building” (free!) – Build the prototype with sweat equity – Get to beta launch with sweat equity if possible• When you do raise money, spend it differently
  6. 6. 问题 ?