In a rapidly changing world, technology may evolve, but human nature remains constant. Andrew Chen, a prominent figure in the startup world, understands this concept well. He believes that by combining modern technology with the fundamental desires of individuals, valuable products can be created. This idea resonates with the core purpose of the Michelin Guide, which initially aimed to provide people with a reason to drive. By packaging destination-worthy restaurants across France, and eventually the world, Michelin gave individuals a reason to get behind the wheel.

Glasp

Glasp

Aug 27, 2023 β€’ 3 min read

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In a rapidly changing world, technology may evolve, but human nature remains constant. Andrew Chen, a prominent figure in the startup world, understands this concept well. He believes that by combining modern technology with the fundamental desires of individuals, valuable products can be created. This idea resonates with the core purpose of the Michelin Guide, which initially aimed to provide people with a reason to drive. By packaging destination-worthy restaurants across France, and eventually the world, Michelin gave individuals a reason to get behind the wheel.

Creating something that is appealing to both friends and family, as well as oneself, can lead to organic word-of-mouth promotion. This principle holds true even today, just as it did a century ago when consumer packaged goods (CPG) companies used advertisements and coupons to stimulate demand and solve the age-old chicken and egg problem. Startups today use innovative mobile apps to generate demand and address the same dilemma. The methods may have evolved, but the underlying principles remain the same.

As new technologies and platforms begin to scale, and products start to tap into existing consumer psychology, there arises an opportunity for rapid and scalable growth through "growth hacking". This approach involves leveraging the slingshot effect to propel a product forward. Among the three components of this strategy, the first and most crucial is the integration of new technologies and platforms. Numerous groundbreaking technologies are on the horizon, presenting definite opportunities in various categories such as marketplaces, B2B, mobile, and more.

Video is a massive medium that extends beyond just music videos. It has the potential to be utilized in various forms of entertainment and media, which can further fuel its growth. One significant opportunity lies in products that automatically generate videos when users engage with them. This can lead to increased video sharing activities, resulting in viral acquisition and higher engagement rates.

When thinking about growth hacking, one idea stands out - creating offline experiences that make people want to use an app. With online channels becoming saturated, the real world becomes incredibly appealing. This is particularly true considering the exorbitant costs of advertising on platforms like Facebook and Google, and the millions of apps competing for attention on app stores. The intersection of new technology, exciting customer behaviors, and growth insights is where the magic happens. By combining these three elements, startups can create truly captivating products.

Technology may change, but people remain the same. By identifying groundbreaking new products at the intersection of technological advancements and human behavior, we can pave the way for the next generation of startups. Now, let's dive into three actionable pieces of advice that can help you navigate this landscape:

  • 1. Embrace New Technologies: Stay up-to-date with emerging technologies and platforms. Look for opportunities to leverage these advancements to create innovative products that cater to fundamental human desires.
  • 2. Tap into Existing Consumer Psychology: Understand the psychology behind consumer behavior and find ways to tap into it. By addressing existing needs and desires, you can create products that resonate with people on a deeper level.
  • 3. Create Offline Experiences: As online channels become saturated, consider how you can create offline experiences that make people want to engage with your app or product. The real world can provide a refreshing and captivating environment for users.

In conclusion, while technology may evolve at a rapid pace, human nature remains constant. By harnessing the power of technology and understanding the fundamental desires of individuals, startups can create valuable and groundbreaking products. By adopting new technologies, tapping into existing consumer psychology, and creating offline experiences, we can unlock the potential for growth and pave the way for the next generation of startups.

Resource:

  1. "をンドγƒͺγƒ₯γƒΌγƒ»γƒγ‚§γƒ³γŒtoCγ‚Ήγ‚ΏγƒΌγƒˆγ‚’γƒƒγƒ—γ«ζ±‚γ‚γ‚‹ζ‘δ»Ά", https://startuptimez.com/767f27e700e7411da28c37f411ee56d0 (Glasp)
  2. "Great Minds Read a Lot", https://kazukinakayashiki.substack.com/p/great-minds-read-a-lot-9a9 (Glasp)

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