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Get Rich Slow- Apr 20, 2009 |
If you're looking for encouragement to bootstrap your own Internet business, here's a great article to read, Josh Quittner, "Get Rich Slow," Time Magazine, April 20, 2009 issue, pp. 42-45. The author discusses LILO start-ups, "a little in, a lot out." "All that's required is a great idea for a product that will fill a need in the 21st century" -- especially if your idea either makes people money or saves them money. He gives examples from MotorMouths.com, yCombinator.com, and AirBnB.com. The drawbacks to venture-funded start-ups involve dilution of the founders' ownership share and expensive failures. Now, the cost of websites has gone down. He quotes Joi Ito as saying, "The cost of mapping it is almost higher than the cost of trying it." Worth reading, if you're an entrepreneur.
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