Succesful Startups
What is the startup that was founded in 2008 that allowed for users to shortly stay in other peoples homes?
Airbnb
What is social entrepreneurship?
Social Entrepreneurship is a way of entrepreneuring that is used to fix problems arising in social, environmental, and cultural aspects of a community
Entrepreneurs always stick to their original ideas
Myth- if an entrepreneur knows that their business is not going well, they can pivot and start something that will
Why did Airbnb start?
founders were struggling to pay rent on their San Francisco apartment and noticed that a large design conference was coming to town, causing all the hotels to be fully booked so they laid out air mattresses and rented them out for the weekend
Define Startup:
Startups are businesses that want to disrupt industries and change the world—and do it all at scale
What is the startup that was founded in 2009 that is a rideshare app that allows users to call a driver to drive them somewhere similar to a taxi all through their cell phone?
uber
What’s the goal difference between business entrepreneurs and social entrepreneurship?
Business entrepreneurs want to securely capture a market while social entrepreneurs want to change the world and fill in market gaps
Entrepreneurship is all about inventing and innovating
Real- there isn’t much of a point of starting a business that does exactly what another company already does
Why did Uber start?
Uber's success story began with the realization that there was a market opportunity in the taxi industry. Travis Kalanick and Garrett Camp, both experienced entrepreneurs, saw the potential for a ride-hailing service that would allow users to easily hail a ride from their smartphone
Define Bootstrapping
Using very little capital and proving your hypothesis
What does Mailchimp do?
It is a marketing automation platform and email marketing service
What award did Muhammed Yunus from Grameen Bank receive for empowering villagers financially?
The Nobel Peace Prize
Entrepreneurs need to have a lot of money to start a business
Myth- start small and work their way up with the money they make
Why did doordash start?
It was originally named Palo Alto, and was created just to make it easier to finish online orders.
Define Seed Funding
When high-net-worth individuals invest in early stage companies.
When was lyft founded?
2012
Sanjit Roy, an entrepreneur who started up what college that relies completely on solar power?
Barefoot College
Entrepreneurs have a boss
Both- three “bosses”- the investor, the banks, and the customer are the three people that entrepreneurs must answer to, but no concrete boss
Why was Khan academy started?
as a passion project in 2004. Sal's cousin was struggling with math so he tutored her remotely and posted educational videos on YouTube. So many people watched the videos that eventually Sal pursued Khan Academy full time. Today Khan Academy has more than 130 employees in Mountain View, California.
Define Accredited Investor
A natural person who has individual net worth, or joint net worth with the person’s spouse, that exceeds $1 million at the time of the purchase
Who founded Spacex?
Elon Musk
Manish Gupta and his startup Matr Boomie have helped with what?
They have lifted many communities out of extreme poverty
Entrepreneurs don’t need to have the full idea of what they want to do
Real- startups start small for a reason, once the business is started, it will naturally find what it needs to do and what it does best
Why was Rent the Runway started?
After the founder's sister spent 2,000 on a dress she would wear once to a wedding, she thought to herself wouldn't it just be easier if you could rent it?
What does “hockey stick” mean in startups
It is a term used to describe the way they want the value of companies they invest in. Doubling in value and increasing.