caso waze_uri levine_tuf colombia 2015
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Entrepreneurship &Disruption
Uri Levine [email protected]
Waze / FeeX / Moovit / Roomer / Zeek / Engie / FairFly / FairSale
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Focus: it is not what we are doin it is what we are not d
Agenda
Waze
Journey
Startup
Tips
Startup
Passion Dis
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Entrepreneurship Love or Hate leads to Dream and Passion
Willing to Sacrifice
Longer Roller Coaster Journey
No doubt whats next
It is like
What is the roblem oure solvin ?
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Venture
Out of tons of ideas
You fall in love with one
It takes time to fall in
love Then you share your
idea to get feedback
And if they dont like it
you disengage
Out of many girl
You fall in love w
It takes time to f
love Then you show u
your girl to getfeedback
And if they dont
Girl
If ou dont LOVE what oure doin then do somethin that
Falling in Love
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The 1styear keys for suc
Fund Raising
DNA
Mission
Focus
The main thin is to kee the main thin the main thin
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The Long Journey
If oure ha with our roduct ou launch wa tooooooo
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Journey realizati
Failures are the best teachers
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Big Ideas
Ask yourself who will be out of business whI succeed?
If you dont know it is not big enough
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Celebration the 1steveryth Good:
Launch, Employee, User, PR, Revenue,Million, Office, Prize, Deal, Fund raising
Better:
Overloading, Patent infringement,Law suit, Fraud
Best:
Thank you letter from users
Ask for hel ou will find man that can and will hel ou
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The Startup Journey
Entre reneur: Passion for a chan e > Fear of failure and loss
ProblemUsers
So
Startup
Find a Solution For many Users With a Pro
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The Waze Journey
Wazer One
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The Story: Livemaps
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The Story: Livemaps
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The Story: Livemaps
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The Story: Livemaps
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The Story: Livemaps
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The Story: Livemaps
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Does it really work
=
http://www.youtube.com/watch?v=VRlwwtAuMiohttp://www.youtube.com/watch?v=VRlwwtAuMio -
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Making a Long Story Sh
0
10.000.000
20.000.000
30.000.000
40.000.000
50.000.000
60.000.000
Jan2009
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WazExcitementof creation
Moving theNeedle
Magic
happens
TotalDisrupt
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Waze was acquired on
And I left the day after to start a new startu
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FeeX Robin Hood of F
Biggest secretin the world - $600Bof fees i People dont know they are paying them
1/3 of retirement will be paid in fees
Lack of transparency
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FeeX Impact
25% of our users change their holdings Saving a $50,000 in average per user
Albert Einstein: compound Interest is the 8
force of the Universe those who understanare earning it, and those who are notare
paying it
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Dont go home without thBuilding a startup tips
You may want to write these down
Make our mistakes fast and if ou hesitate oure wa tooo
B ildi
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Building a startup Quest for 3 elements
Users Problem
Solving that problem for these users
Find something that works
Replicate it
Fall in love with the roblem not the solution
l
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Emotional Engagement Strong emotions
Love
Hate
Sucker
Frustration
Anger
Rage Bad and good
Enemy
Outsmart
EmpoweredIf ou think ou can oure ri ht
Ti
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Tips Who are your USERS and their PROBLEM
Make your MISTAKES FAST
DNA+ MISSIONjourney
Fall in LOVEwith the PROBLEM, not the solu FOCUS it is what we are not doing
Fall in love with the Problem not the solution
F d R i i Ti H F
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Fund Raising Tips How F
Strongest point at the beginning They are users too
Story Telling Big Market
Strongest point at the endThe main thin is to kee the main thin the main thin
Di ti
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Disruption
Waze Uber Self Drivin Car iPhone
Product Price
Knowledge Model
MarketEquilibrium
Di t
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Disruptors
Entrepreneurs or new players Nothing to lose
Driven by Passion or Hate (Palo Alto Network
Existing players can NOT disrupt
Wh I?
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Who am I?I tend to upset a lot of industries
C lli f di
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Calling for disrup
Asymmetric Information Middlemen/Broker
Unclear Value/Price
U i L i
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Uri Levine
Serial Entrepreneur
and disruptor Only consumers
a lot of Good to a lot of People
Money and time loss Empowerment
Real problems
Big Impact
Fall in Love with the Problem not the solution
M St t
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Fall in Love in the PROBLEM oure solvin not the solution
My Startups
Th M d l
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The ModelUser Emotions
How the user feels (about the problem)
Market Size In users or $$$
Disruption How the market will change
The Trick The enabler of the disruptionImpact What would happen to the market
W
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WazeUser Emotions Common Enemy, Hate traffic Jams
Market Size 1B cars
Disruption FREE and actionable traffic
The Trick Crowd Source
Impact Navigation disappeared map maker
Moo it
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MoovitUser Emotions helpless
Market Size 1T trips per year
Disruption Global, zero time to launch
The Trick Crowd Source
Impact Control Public Transportation data
FeeX
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FeeXUser Emotions Helpless, overpaid
Market Size $600B of fees (US)
Disruption Free and tranparency
The Trick Crowd Source
Impact New market equilibrium
Roomer
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RoomerUser Emotions Throwing money out the window
Market Size $9B loss in the USA
Disruption Everyone wins (no disruption)
The Trick Market Place
Impact Increase utilization
Zeek
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ZeekUser Emotions Throwing money out the window
Market Size $100B loss (Global)
Disruption No disruption everyone wins
The Trick Market Place
Impact Branded money
Engie
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EngieUser Emotions Frustration at the mechanic
Market Size $500B mechanic market (Global)
Disruption Transparency and price comparison
The Trick Connect to car computer
Impact $150B gap new equilibrium
FairFly
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FairFlyUser Emotions
Over paid (Sucker)
Market Size $700B airfare
Disruption Price transparency
The Trick Compare after buying
Impact $100B gap new equilibrium
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Find a BIG Problemsolve
Thank [email protected]
The yellow tag lines I
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The yellow tag lines IFocus: it is not what we are doing it is what we are not doingWhat is the problem youre solving?Who are your users?If you dont LOVE what youre doingthen do something that you doFall in love with the problemyoure solving not the solutionThe main thing, is to keep the main thing the main thingNo one was born CEO build a team to support youThe CEO is all aloneThe biggest enemy of good enough is.perfectMy more successful companies built their management teams at theIf youre happy with with your product you launch way tooooooo laSuccess = (A lot of value) X (a lot of people) X (a lot of times)Find a big F problem to solveWhen you started you had a mission prove that you can
Show significant value before you can ask something in return
The yellow tag lines II
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The yellow tag lines IIIf you dont know your usage figures, youre doing something wrongFocus: it is not what we are doing it is what we are not doingA Startup is a continuous quest for product X users until you find itToday is the first day of the rest of your lifeNever forget your long run goal and what you stand forDoes it even worth it what will happen if youre successful?Prepare for rejection do not be afraid to failDont worry that someone will copy you worry if they dont
We have two ears and one mouth so we can listen twice as much aStrategy is very important is can be up to 20% of the success rest isA dog will not jump if you hang the sausage from the ceilingWhy do dogs lick their balls?Ideas are easy making them happen is the hardest partIf you dont measure it it does not exist
You wont be good enough, if you dont know what good enough is
The yellow tag lines III
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The yellow tag lines IIIDont assume askand if it doesnt work, then TRYFunding is like fuel for the car I would rather go without refueling
Who would be out of business if youre successfulThe difference between CEO and CFOBen Horowitz: as a CEO, I slept like a baby, woke up every 2 hours aSchedule Your Priorities and not priority your scheduleThe winning triangle: Users + Problem + SolutionA lot of nickels and dimes is still nickels and dimes
If there is no main dish there is no mealVinod Khosla: 70-80% of the VCs add negative value (so nothing is beSmart Money WTF? Have separate money and separate smartYou dont want to go home with a deal that you dont like Once they invest they get you by the balls, AND you get themFund Raising is an extreme sport
People dont stop dreaming when they get old, they get old as they