The Next $50B Business Won't be a Website
What if the world's best software entrepreneurs used all their abilities and capital to take on big projects beyond the web like schools, hospitals & factories? Software engineers are already making real-world goods & services, from Tesla cars to Nest thermostats, Uber taxi networks & Netflix live-action shows. These aren’t clicks-and-mortar businesses, where a traditional company just puts up a website. These are new, hybrid businesses, born from tech, but with the chutzpah to launch real-world operations. Such businesses take more money & time but attack bigger markets and missions. After all, 30 years into the software revolution, only 12 of the Fortune 500 are pure software businesses. The rest operate in the real world, even as they increasingly look to technology for competitive advantage. Redfin, a real estate website that became a real estate broker, explains its own journey into the real world, and how entrepreneurs can find real-world ideas for the next great companies.
- What are the best opportunities for software entrepreneurs to start real-world companies?
- How are the capital requirements different for scaling hybrid businesses and how can venture investors think about the margins and returns for these businesses?
- Why software entrepreneurs will be better at building real-world businesses than real-world executives have been at building software? Why Tesla will beat Ford and Netflix will beat HBO?
- How software entrepreneurs can address the cultural and operational challenges of running a business that is part Google and part Ford, Boeing or Century 21?
- How having a real-world service helps you to build a better online service, by capturing more real-world customer data?
- Glenn Kelman Redfin
Joel Ballezza Redfin
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