Is Mark Zuckerberg following the correct process with his plans for the Metaverse?
Raising money or in Zuckerberg’s case…having access to billions at his disposal is many times the worst possible scenario when creating and building a new company.
Having a limited amount of money forces your focus on the mission critical aspects of launching your new business. Having a large sum of money can give you a false sense of security especially if you have raised it from a VC firm. “My idea has to be good…look how much money we raised from the VC firm”!!!!
There are countless examples of amazing well funded ideas that never go anywhere because certain things were not understood before going live.
Just because you solve a problem…does NOT mean you will have a successful company.
– It took 70 years for the light bulb to go mainstream because people preferred Gas Lights. – A technology that would have made Radiologists almost irrelevant was never adopted because Doctors refused to adopt the technology that would put many radiologist out of work.
– A new Keyboard that would have sped up typing was never adopted because people are used to the QWERTY keyboard standard.
– At the Turn of the 20th century combustible automobiles beat out electric vehicles
To launch a successful company….you need to understand….
– the buying process
– the end user
– the ecosystem
… and so much more.
Which brings me to Zuckerberg. He unilaterally pledged $10 Billion annually for the next 10 years and changed the name of his business because he was positive the Metaverse is the next thing.
Listen to this segment for more. mergedanalytics.com Thom Stallings MergedAnalytics LLC #mergedanalytics #nailitthenscaleit