Are you a seed-stage founder who’s building a unicorn?
Last month, at TechCrunch Early Stage, I spoke to NFX Founding Partner James Currier about where ideas for billion-dollar companies come from.
Currier, who was an angel investor in Patreon, Lyft and DoorDash, said startups that grow into unicorns have three basic forms of defensibility:
- Network effects: Your product becomes more valuable as more people use it.
- Embedding: Integrate your services so deeply, customers “cannot rip them out.”
- Data loops: Gather, process and act on real-time data.
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“This is really only talking about world-changing, big-ass businesses...
