Chapter Questions
What are common reasons for startup failure?
Contributing factors often include lack of a business model, poor timing, and situations that are out of our control.
What was the original name of the Instagram app?
Burbn
What was the original app created that resulted in Slack called?
Who created Fortnite?
Epic Games
When was Airbnb founded
2008
What must ventures learn from to be willing to succeed?
Failures and mistakes
What was the original purpose of the app that later became Instagram
A mobile app that allowed people to check in with their friends as well as plan and post pictures of “meet ups”
What was the original purpose of slack?
What was the original game from Fortnite?
Fortnite: Save the World
What were some issues when Air bnb launched?
maxed out credit cards, revenue of only $200/week, no investors, and almost bankruptcy
Failure in a startup is often used as a learning opportunity to improve future ventures. True or False
True
What did users not like about Burbn
It was Complex and confusing to navigate
What useful features resulted from the creation of the game Glitch?
Internal communication software that would change the way corporations can communicate among itself.
What type of gameplay does Fortnite Battle Royale involve?
Player v Player (PVP)
How did Airbnb improve their issues?
Went to NY to personally meet hosts and take professional photos of listing
Pivoting a business means completely giving up and starting over from scratch. True or False
False
What was the feature of Burbn that users loved?
Photo sharing
Why did Glitch fail?
Not enough users to maintain costs and sustaining growth was impossible.
Why did Fortnite: Save the World fail?
It failed to reach a large scale market and the development was chaotic.
How did people feel about the platform
No one trusted it
Why were these companies eventually successful even though they failed at first?
They were able to reevaluate what they were doing well and the marketplace needs and pivot their business.
Who inspired the founders of Instagram to utilize filters
Kevin Systroms wife
How did the creator of glitch deceide to launch Slack?
The team pivoted because the internal communication tool they developed to collaborate remotely during Glitch's development was highly effective.
What type of business model did Fortnite pivot to after the original failure?
What are the names of the Airbnb founders
Brian Chesky, Joe Gebbia, and Nathan Blecharczyk.