Social Engineering and Serial Entrepreneurs
The current economic conditions worldwide are very dynamic. Many charts, whether bonds, stocks, debt, etc. are moving up and down, mostly down because of current circumstances. However, this is nothing new to us. Back in 2000, when the whole economy crashed, it gave birth to social media ~2004, where many startups were created. Twitter and Facebook didn't just show up on the scene, rather there were many predecessors, social networking startups before them. Friendster, myspace, tagged, hi5, bebo, ning, hot or not, are just a few, where Mark Zuckerberg copied many ideas from. Twitter founders initially kept the product simple with updates, however opened up a state-of-the-art API, or application programming interface for third party developers. With the twitter market place of third party applications, 70% of twitter traffic came from the market place. However, the twitter market place was shutdown, because the Twitter as an application wanted all that traffic. Many Twitter children third party applications were shut down or put in spam traps, because they were competing. Twitter should have bought them and turn on their revenue, instead rather now struggling to generate revenue.
Twitter and Facebook created many millionaires and billionaires. Many of the early employees, having to work directly with the founders, became founders themselves. I worked very close with hi5 and bebo founders, and ended up creating my first startup in 2009, mytweetmark. This was my first shot at entrepreneurship, without going to prestigious schools like Stanford and MIT. I created many features, helped social media, farmers markets, yogis and many small businesses with automation, helping sell their brand and product through a software as a service or SAAS model. The customers pay $30/month.
My second startup, as a technical co-founder, took place in 2014. Another stealth startup (keeping name confidential) was looking for a full stack developer that can also manage people and grow the team, to come help two business founders with initial angel investors money and huge ambition. About 33% of the initial money went into engineering and we took a shot at building the next great startup in apparel (clothing) selling with social media. The startup had great advisors and customers. The CEO very charming, and able to generate money from east coast. We build the product out in five months, with analytics so we knew exactly where the startup growth is heading. However, we ran into blocks, both in growth and investor confidence. The initial revenue numbers were possibly rigged, so trust was possibly an issue. The engineering team was dismantled, the startup basically went into a very dark stage. The technology still exists today, and the CEO is working on it with six developers. I moved on to working with banks.
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