The Network Effects Bible Another great Wednesday night material I recommend to read to anyone who is creating a marketplace or a network type business. Below are my key take aways from the read. “Network effects have been responsible for 70% of all the value created in technology since 1994 . Founders who deeply understand how they work will be better positioned to build category-defining companies. 1. Why Network Effects Are Important Network effects are mechanisms in a product and business where every new user makes the product/service/experience more valuable to every other user. 2. How Networks Work The critical mass of a network refers to the point at which the value produced by the network exceeds the value of the product itself and of competing products. This can happen at different times depending on the type of a network. Most products with network effects must ultimately reach critical mass in order to fully take advantage of the defensibility provided by their network effects. Before the size of the network reaches critical mass, the product remains quite vulnerable and may not have much value to users. For such products, the challenge is often to build enough initial value to incentivize early adopters to start using the product even before the network effects value has kicked in. 3. Properties of Networks Many network effect businesses require users to create a profile that’s visible to other nodes in the network. Networks with profiles tied to a node’s real identity, like your real personal name or real company name, are typically more effective at building network effects than networks with pseudonymous profiles (e.g. user-generated handles like “Tiger123”). 4. Building and Maintaining Network Effects We don’t suggest building single-player-only businesses. They tend to grow linearly and get dragged down by competition. 5. Related Concepts” Read the full article on NFX blog: https://www.nfx.com/post/network-effects-bible/
The Network Effects Bible
www.nfx.com

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A nice essay about the evolution of marketplaces by Li Jin and Andrew Chen, both investors @ A16Z. The first thing they say that the next trillion-dollar opportunity lies in services vs. goods. Why? In the past twenty years, we’ve transformed the way people buy goods online, and in the process created Amazon, eBay, JD.com, Alibaba, and other e-commerce giants, accounting for trillions of dollars in market capitalization. The next era will do the same to the $9.7 trillion U.S. consumer service economy, through discontinuous innovations in AI and automation, new marketplace paradigms, and overcoming regulatory capture. The service economy lags: while services make up 69% of national consumer spending, the Bureau of Economic Analysis estimated that just 7% of services were primarily digital, meaning they utilized the internet to conduct transactions. There is a clear trend that software is eating the service economy, but it’s been slow, and they unpack the reasons for that in the article. They also cover how marketplaces were evolving over the last decades, essentially in 4 eras: 1. The Listings Era (1990s). These marketplaces were the digital version of the Yellow Pages, enabling visibility into which service providers existed, but placing the onus on the user to assess providers, contact them, arrange times to meet, and transact. 2. The Unbundled Craigslist Era (2000s). Companies iterated on the horizontal marketplace model by focusing on a specific sub-vertical, enabling them to offer features tailored to a specific industry. 3. The ‘Uber for X’ Era (2009-2015). In the early 2010s, a wave of on-demand marketplaces for simple services arose, including transportation, food delivery, and valet parking. These marketplaces were enabled by widespread mobile adoption, making it possible to book a service or accept a job with the tap of a button. 4. The Managed Marketplace Era (Mid-2010s). Managed marketplaces take on additional work of actually influencing or managing the service experience, and in doing so, create a step-function improvement in the customer experience. Rather than just enabling customers to discover and build trust with the end provider, these marketplaces take on the work of actually creating trust. The big question is, what’s next? My answer is Qoorio. Watch the interview here: https://www.youtube.com/watch?v=zl14Ty5-0Ko Read the article here: https://a16z.com/2018/11/27/services-marketplaces-service-economy-evolution-whats-next/
What’s Next for Marketplace Startups? - Andreessen Horowitz
a16z.com
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How to get first active users to your empty platform? “In any marketplace, you inherently have two sides to solve. Two-sided businesses typically have a producer side and a consumer side. For this to work, both producers and consumers need to be on the platform. Platforms are initially ghost towns. Users (demand-side) see no value unless they see content from the producers (supply-side). Producers don’t contribute unless they see users consuming their content. Because of this, a ghost town continues to remain a ghost town. Since consumers are a carrot for the producers and vice versa, this problem is typically solved by providing an alternate bait to one of the sides. Once one side is seeded, it acts as a bait for the other side to come on board. Having faced this challenge while building their own startup, the aurhor did some digging on how to solve the content creation problem in the initial days, from apps that all of us admire (and secretly envy). Don’t give up because the beginnings are always the hardest. Here are some successful growth hacks of 17 of the world’s largest consumer apps, specifically content marketplaces.” Read more: https://medium.com/better-marketing/how-did-fast-growing-platforms-get-their-users-7412084d5aec Thanks to: Yannick Oswald
How Did Fast-Growing Platforms Get Their Users? | by Mayur Mundada | Better Marketing | Jun, 2020 | Medium
medium.com

Tomas MaksimaviciusStartups
Also here you can find a lot of useful hacks: https://www.dothingsthatdontscale.com/
How to kickstart a marketplace business? A nice piece written by Lenny Rachitsky, ex Growth PM @ Airbnb. He is sharing insights from 17 of today’s biggest marketplaces, including Airbnb, DoorDash, Thumbtack, Etsy, Uber and many more. Sharing some of his learnings: 1. Constraint. With the exception of one company, every single marketplace that he interviewed constrained their initial marketplace to more quickly get to critical mass. To some this may seem counter-intuitive — why limit your growth and opportunities when you are starting out? It turns out that the best way to get big is by first going small. 2. Supply. The vast majority of successful marketplaces focused almost all of their resources on growing supply early-on (80% of the companies I interviewed, 14 out of 17). 3. Direct sales (supply). One-on-one direct sales ended up being a crucial lever for about 60% of the companies, twice as common as the next biggest lever (piggy-backing and referrals). 4. Word of mouth (demand). Word-of-mouth was the most important growth channel for over half of the companies. Though this isn’t actually a growth “lever”, it was an enormous growth driver for these companies, and was a strong early signal of product/market fit.
How to Kickstart and Scale a Marketplace Business – Phase 1: Crack the Chicken-and-Egg Problem 🐣
www.lennyrachitsky.com
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A few months ago, a16z published ‘The a16z Marketplace 100’, a ranking of the largest and fastest-growing consumer-facing marketplace startups and private companies. Here are the key takeaways from the Marketplace 100, which they unpack in the article: 1. A handful of companies dominate. Four marketplaces account for 76% of observed GMV, while there are other 96 marketplaces in the list. 2. Travel, food, and groceries are the largest categories, by a lot. 3. Several emerging categories are intriguing, including local indie brands, celebrity shout-outs, streetwear, fitness memberships, and even car washes. 4. The fastest-growing marketplaces are growing really fast—3x to 5x year-over-year Also, I was happy to see that Lithuanian Vinted is in the 94th position, though, I would have expected it to rank much higher. Read the full article here: https://a16z.com/2020/02/18/marketplace-100/
The a16z Marketplace 100 - Andreessen Horowitz
a16z.com
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Back in 2015 VersionOne VC prepared ‘A Guide to Marketplaces’. They updated it in 2018 and I find it relevant today and recommend to read for any marketplace founder.
Online Marketplaces: types, business models, network effects
versionone.vc
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Recently I watched the documentary I recommend watching to all current or new c2c marketplace founders. It is called 'The Third Industrial Revolution.' Well, the word 'revolution' sounds like something far away from our current lives, however, the author Jeremy Rifkin in simple language explains what triggered industrial revolutions in the past, and how the recent technological advancements are pushing us to a new, unprecedented, revolution. In essence, Rifkin says that two main factors trigger a massive change in all industries: (i) the new source of energy and (ii) the new communication technologies. Revolution is triggered once (i) and (ii) merge. The (i) discovery of coal and (ii) invention of the printing device triggered the first industrial revolution. Coal was a source of cheap energy (heat). It was the main fuel for the invented steam engine, which was put on wheels and in boats. It created the logistics never seen before in the history – massive rail and ship networks. Transportation became cheap and accessible. Printing devices allowed information to be replicated and copied cheaply on a scale – something never seen in history before. The (i) discovery of oil and (ii) invention of the phone triggered the second industrial revolution. Oil was a new, much cheaper energy. It was the main fuel for the internal combustion engine. It was put into cars and allowed the creation of a new kind of logistics – personal, cheap, and agile. The phone allowed people on two different locations to communicate in real-time - something was never seen in history before. I love Rifkin's view on the economy from a thermodynamics point of view. The amount of energy in the closed system is constant, and energy only changes forms. He argues that oil, gas & coal fuel the majority of our current economy. These fossil fuels are the primary sources of electricity production. Oil is the primary source of energy for logistics. The more injection of fossil fuels to the economy leads to more GDP. Well, the oil extraction per day peaked in the '80s, and oil price peaked in 2006, which was a massive shock to the whole economy (will not elaborate in this post). What is happening today? We see an emerging new source of energy - renewables, which Rifkin argues, at scale, will become the much cheaper and primary source energy. Emerging new communication technologies like 5G will allow unprecedented connectivity among not only humans but things (known as the Internet of Things, IoT). Cheap, clean energy merged with IoT will be the foundation for new, fully autonomous networks of logistics. This 21st-century smart digital infrastructure is giving rise to a radical new sharing economy that is transforming the way we manage, power, and move economic life. It is where massive opportunities lie for future c2c networks. I genuinely believe Qoorio is one of them. Watch the film here: https://www.vice.com/en_us/article/bj5zaq/watch-vices-new-documentary-the-third-industrial-revolution-a-radical-new-sharing-economy Read the book here: https://www.amazon.com/Third-Industrial-Revolution-Lateral-Transforming/dp/0230341977 NB. It is one of those rare cases when I found the movie better than the book. The book has too many political stories and other things which I account as sales pitches for Rifkin's consulting firm's services, IMO. Rifkin itself is an impressive person. According to The "European Energy Review," "Perhaps no other author or thinker has had more influence on the EU's ambitious climate and energy policy than the famous American' visionary' Jeremy Rifkin. The Huffington Post reported from Beijing in October 2015 that "Chinese Premier Li Keqiang has not only read Jeremy Rifkin's book, The Third Industrial Revolution, but taken it to heart," he and his colleagues have incorporated ideas from this book into the core of the country's thirteenth Five-Year Plan. According to EurActiv, "Jeremy Rifkin is an American economist and author whose best-selling Third Industrial Revolution arguably provided the blueprint for Germany's transition to a low-carbon economy, and China's strategic acceptance of climate policy." Credit goes to Justinas Mačiulis for the film's recommendation. Happy watching!
Watch VICE’s New Documentary, the Third Industrial Revolution
www.vice.com
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A famous Airbnb growth study. Many things happened behind the scenes. An extreme mental strength is required from any founder, so if you are a founder, I suggest reading the story for inspiration.
Airbnb: The Growth Story You Didn't Know
growthhackers.com
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Your Life is Driven by Network Effects A great article I read this morning by James Currier, a Managing Partner at NFX, a seed-stage venture firm headquartered in San Francisco. Recommend to read it to actually anyone. “What city you live in. Who you date or marry. Which job you choose. What clothes you wear. We all think we make these choices ourselves. It certainly /feels/ like we’re in full control. But it turns out that our choices — both in our startups and in our lives — are more constrained than we think. The unseen hand in them all is the networks that surround us and the powerful math they exert on us. Working with network effects in our 100+ companies makes it impossible not to notice how the same mechanisms and math that create near-destiny for companies also create near-destiny for us as individuals. It’s mind-blowing once you see it. These constraints are highly determinative of how your life will turn out, guiding us inexorably down one path or another in ways that are both quite predictable. Yet these forces are typically unnoticed. This article outlines how we see network effects impacting nearly every aspect of your life. With that lens, it lays out a perspective on how to make the 7 most important decisions of your life. It will hopefully help you make decisions that are more true to the kind of life you want to lead. * Network Force: The Unseen Hand * Seeing the Math at Work in Your Life * Zipf’s Law and You * Your Body and Cities Have Predictable Mathematical Patterns * How do nodes on a human network work? * In Networks, The Rich Nodes Get Richer * The math behind why dinner parties behave the way they do * How Networks Form * What Does Your Network Want from You? * Your Life’s Crossroads * The Network Topology of Your Life * Crossroads of Your Life.” Link is here: https://www.nfx.com/post/your-life-network-effects/
Your Life is Driven by Network Effects
www.nfx.com

Antanas BernatonisHead of Business Development @Montonio |Fintech|POS|B2BSales|BD
Amazing! Justas Janauskas, can you share where to find such articles? Which people/pages do you follow and get the most useful morning readings like this from?
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How the biggest consumer apps got their first 1,000 users Another great essay from Lenny Rachitsky, ex Growth PM @ Airbnb, who collected first-hand accounts of how essentially every major consumer app acquired their earliest users, including lessons from Tinder, Uber, Superhuman, TikTok, Product Hunt, Netflix, and many more. His biggest takeaways from this research: 1. Just seven strategies account for every consumer apps’ early growth. 2. Most startups found their early users from just a single strategy. 3. The most popular strategies involve going to your user directly — online, offline, and through friends. Doing things that don’t scale. 4. To execute on any of these strategies, it’s important to first narrowly define your target user. 5. The tactics that you use to get your first 1,000 users are very different from your next 10,000. Read more in the link below.
How the biggest consumer apps got their first 1,000 users - Issue 25
www.lennyrachitsky.com
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What’s the next big thing for Qoorio? That is the question I was discussing with one of my colleagues yesterday. We initially started with a simple app that allows people to buy & sell their knowledge. It worked partially because only a few people were receiving requests for their knowledge from strangers. Today we are moving to a much more sophisticated product, our current big bet. Instead of being a simple knowledge trading app, we are becoming a human to human learning network. We are adding features so people can express their thoughts and stories through the app and learn from and about each other by reading those stories. And if they want to go deeper, they can do that by arranging a 1:1 talk. I feel this is huge. Recently I tried the old version of Qoorio and then a current one - and, indeed, the current one is more alive, more human, more interesting. Very qoorious to see what will be the impact once we finish the transformation. However, our journey will not be finished, and we will need to keep innovating and to come up with a bet on the next big thing. What is that thing? We don’t know yet. However, we are looking at one particular element of Qoorio experience. As we are creating tools for people to express their stories through insights, we see some people already are engaged in it. However, we feel that many people struggle to create & share their insights. Why? They say they don’t know what to write or think they have nothing to say. On the other hand, every human being is an endless book, and everyone has endless things to say. How to open that book? I can relate to people who don’t know what to write on Qoorio, and I haven’t shared anything meaningful for about a week. Is it true that I have nothing to share? We are building Qoorio, so many things are happening every day, and for sure, there should be something to share. I have a topic ‘Building Qoorio’ on my profile. So far, it has only two insights, nonetheless, we are building it for 1.5+ years. I could use this topic and just document my thoughts every few days. Just like I am doing it now. I also noticed one person has created a topic ‘My startup journey’ and has shared his thoughts on his journey. That was lovely. My colleague said that he will create a topic ‘Boating’ and will document his journey from never boating to having a boat license and boating many times. I would read that with pleasure. Does authentic storytelling, documenting & sharing your thoughts, journey, events can be an answer to the question of what to share on Qoorio? I don’t know yet, qoorious to learn what do you think about it?

Justas JanauskasCEO @ Qoorio
Videos are coming soon. And web is planned after we figure out product on mobile.
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Good morning, dear qooriors! Growing, learning and self-development start with curiosity. Curiosity begins with the right questions. Answers come easier when those questions are asked the right people. 1. If you could ask anyone in this community any question on their experience, who would it be, and what would you ask? Please leave it in the comments below. 2. If you could ask me anything, what your question will be? Happy to share my knowledge on founders’ live, fundraising, building companies, unicorns, and more (see my profile). Please ask in comments, I will try to answer (publicly).

Justas JanauskasCEO @ Qoorio
Thomas, definetely voice tech can remove a lot of friction in many cases when people cannot look at the screen or type (tranzit, gym, etc), and has a big potential for Qoorio as well. On the other hand, not today, as before optimizing interactions we need to figure out the best fundamentals for value add interactions.
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What are the fundamental approaches for building consumer networks from the ground-up? I listen a few times to an interview with Reid Hoffman, founder of LinkedIn. He spoke about many things, but one thing stroke me as an inspiration. I have decided to write down my thoughts so I could re-read them at any time later. Raid spoke about a framework he used to operate the early stage of a social network such as LinkedIn. It is something I was looking for some time. He says that not only VCs should have an investment thesis, but social entrepreneurs as well. So, what is this thesis? 1. A clearly articulated set of believes about the way the world is becoming. 2. Where would the role of your product or service role in that world be? How and why the world will benefit from your product or service? 3. What are you going successfully to do to enable that role? It helps to decide whether to accelerate the growth, step back, do a micro/macro pivot, and make other decisions on the next bets of the company. At Qoorio, we already operate on "the next bet" principle, however, not in that sophisticated way, as he suggests. The elements of this thesis may sound very abstract. And they should be, as the thesis itself is a set of answers to those questions put into a coherent story. For LinkedIn, that was the following on high-level: 1. Every professional should have a public identity. 2. That would make the world much better for everyone. For individuals, because they would be able to find better jobs. For companies, because they will have to become better employers, have more compelling missions, would be able to attract better talent. And for industries, because different companies will compete for talent. 3. LinkedIn had to get people to start establishing profiles and, most important, invent the way so that people would invite other people – the viral mechanism. And this viral mechanism is THE MOST important element of the business. Such an investment thesis is the starting point of the company. Based on that, the company implements the product or service, the viral mechanism (which allows people to invite other people), and onboards the first users. After that, it is usual that things don't work as expected. Based on all learnings, you tweak the thesis, replace false beliefs with what you have learned about the reality, and come up with an updated thesis. Once you have an updated thesis, you tweak the product, viral mechanism, and onboard more new users again. Then repeat the cycle again and again. Each iteration is an iteration of learning. The faster you iterate and learn, the better chances of success you have. That's why Raid argues that being able to learn fast is the key quality of the team of such environments of building social networks. Thank you, Reid Hoffman, very insightful! An open question to readers: what would motivate you to invite other people to Qoorio, and how Qoorio has to change so you will do that? Listen to the full interview here: https://greatness.floodgate.com/episodes/reid-hoffman-the-network-philosopher-king

I had many people contacting me on Qoorio, mostly first-time tech entrepreneurs, and they often struggle with a situation I want to speak about. Founders come up with a great idea, have a lot of enthusiasm, implement the minimal viable product, launch it to the market, and nothing happens. Customers are not using their product or service as much as they initially thought. They start doubting themselves and their vision. Enthusiasm is replaced with a fear of failure. Fear increases levels of stress, decision-making process gets impaired, and focus on quick fixes increases. Time goes by, reality does not change, there is little significant change in traction of their products or services. This sometimes turns to a doom cycle, which leads to a shut down of the business, even if it was the most brilliant idea. I have seen that multiple times as an outsider. I have experienced that as an insider. Well, the thing is that it is very rare to release an MVP and get it to work immediately. I was lucky in my previous company (Vinted) that this happened. However, this is not the case for Qoorio, and it is a huge learning for all of us. We released the first MVP in July 2019, we got some controversial feedback. Apple was rejecting our app because they assumed we are a paid companionship app. It turned out that the first page of the app had profiles of women and prices meeting them for their knowledge. Our principal engineer was freaking out and thought the business is a done deal. We received a lot of attention from local PR as being a paid celebrity dating app. It started as one celebrity announced that they are happy to meet their fans for money. On the other hand, there was a handful number of people who understood our concept and tried it multiple times. And were very happy with the experience. We learned that those were our target people – intellectual individuals, willing to learn from each other. Time was passing by, but the group of people using our app was not increasing as much as we anticipated. Feedback was consistent: service is unique and refreshing. So why is it not growing organically? Something was clearly missing in our understanding, which could unlock the growth. We spoke to different users and looked at the data. We realized that most meetings happened among people who already trusted open humans in advance but did not necessarily know them personally. There was little interest in profiles of people they didn't know earlier, so they could not trust them. How to trust somebody you don't know that you can learn from them something you don't know, yet looking for? We came up with the second iteration of the product. We improved profiles of open humans so they can specify the topics they are happy to share about with the rest of the community. This improved the situation, we noticed that people who didn't know each other in advance started contacting each other. However, the positive impact was far below what we were looking for. How to create a feeling of trust close to somebody you know well of a stranger you find on Qoorio? We realized that having topics is not enough. Often they are quite broad and general and do not necessarily create a feeling we want to create. I would say they solve 2% of what we want to solve. However, they are not enough to create an intellectual and emotional portrait of somebody one can trust. That's why we are not working hard on the third iteration of Qoorio. In addition to having topics in profiles, we are creating new tools to share an unlimited number of insights for any topic. We believe that this will be a better way to open humans to express their portraits of knowledge & personality. Are we done with it? Not at all, we are only halfway. Is this going to be the answer to our vision' human to human learning network'? I don't think so. I believe it is a never-ending journey. However, this journey gives us valuable feedback from our users about what to build and what to not build. Thank you, everyone, who is the part of Qoorio! Please let me know in your comments: - what do you like about Qoorio? - what you don't like about Qoorio? - what do you think is the most critical one thing we should do next? Stay qoorios!
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Egle Dapkeviciutecreator of geriprojektai.lt l seeker of creativity and deeper understanding
I would love Qoorio to have a shadowing feature. I’ve noticed that sometimes I see the whole picture but don’t know all the details and vice versa. Many times I don’t know what are the right questions to ask or I’m not there yet. Shadowing someone's work / project and being able to see the process a person takes from beginning to end would save me so much time putting all puzzle pieces together. Or if I already think that I know, would also give me a new fresh approach how to do it differently.
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Humans learn most effectively from other humans. This has been the only education available for hundreds of thousands of years. This is how children learn from their parents. This is how our society should function, but in the past hundred or so years, we industrialized education with a one-size-fits-all approach. We believe that everyone will have to learn all their lives in the future. It will not be enough to hold a degree. The speed of change will only accelerate in the future, thus increasing the demand for new skills to adapt to ever-changing reality. If someone stops learning, they lose their competitiveness in the market and are pushed out. People are kind beings by nature, and 90% of humans would love to provide 30-60 minutes of their attention and experience to somebody who needs it. Before Qoorio, people were able to learn only from a close circle of people surrounding them – family, friends, colleagues, and their friends. Qoorio's vision is to change that and to enable human-to-human learning from anyone in the world, not only from the close social circle. How? By creating a platform where anyone can join and create their rich profiles with all kinds of topics and insights, they learn over their lives. A platform where anyone can set clear options on how, when, and to whom they can add value. By meeting online or offline, for free, for a donation, or for a monetary reward. That's the Qoorio app. This story is the starting point of Qoorio's long journey, and we are only at its beginning. Let me know what do you think of it?
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Apple is keeping our app "In Review" for 4 weeks already. They don't tell us if there is a problem or what is happening. They do not communicate anything to us, except "please wait". Many great new features are lagging behind to be delivered to our cozy community. We can do nothing, just wait. No issues with Google Play. Years ago, I used to be a huge fan of Apple's brand, believing in their company & what they do. This belief started to fade out a few years gradually, going down from feelings of excitement to hate. It is interesting to observe how my personal relationship with a brand is changing over time. Also, Apple developers are forced to use Apple Pay solutions in many cases (like selling digital goods) in their apps, and Apple does not allow any other payment providers. No issues with Google Play. Oh, by the way, if you use Apple Pay, you pay up to 30% of the commission fee, which is a total rip-off. Recently I read an article that the EU is starting a process to put an end this foully. Of course, it will take years to complete it, but at least someone is taking care of it. Read the article here: https://www.theguardian.com/business/nils-pratley-on-finance/2020/jun/16/the-eus-bite-at-apple-could-prove-to-be-a-game-changer So, what's the moral of the story? The more you abuse your power, the more angry people you will get, and the stronger resistance you will create from the market. Nobody can win against the market, so instead of continuing your abuse, just stop doing that. Agree or disagree?

Miglė Andrulionytė asked: “Justinai, it’s been some time I wanted to ask you about Qoorio. So you had the idea (I believe you must have them all the time), something made you take this one further. Without resources, where or how would you begin?” Me: I believe everyone has all kinds of different ideas, and only some are taken further and converted to companies. Some with me, I have too many ideas, however, bet only on a few. So how to decide? I believe everyone has their own way of deciding, including me. Reflecting on my Qoorio experience, I see that it all starts with a story of how to explain the idea to people around you. Usually to my friends and people I know. To me it is always hard at the beginning to express the concept, storytelling is not my strongest skill, the story rarely ‘flows’, often people don’t understand what I am trying to say. Sometimes they think I am delusional, which I am completely fine with. Every time people think that my story does not make sense, it is a great piece of information to be qoorious about and to understand why they feel so, realize your own blind spots, and slightly adjust the story, in a way you think it would make more sense to more people. Then I repeat this exercise many times. Like for a year. And then, on a very rare occasion somebody will react to your story like ‘wow, this is a brilliant idea’. Those people are the first believers of your idea. Those people might become your founding team. Once you have a group of people who are so sold on the idea that they are ready to quit their jobs and start working on it, then it is “THE MOMENT” you were asking in your question. Exciting?! Not necessary, because you need to get financial resources to start with. I got them from my own savings, my friends, and my network. The same way, as with your first believers, you need to find people with money and make them your believers, so they can invest in your team with their own cash. Oh, and don’t forget to pay yourself and your founding team as little as possible (or nothing), so you can have a longer runway of your new business with the cash you have. Having trouble achieving that? Iterate on your story, meet different people, tell your improved story, and look for your co-founders, core employees, and future investors. And repeat. The better relationships you have created with more people in your past, the better chances of fundraising you have. So, don’t be a smart-ass and be kind and respectful when interacting with every single one. N.B. This is an experimental insight. What is the experiment? Instead of broadcasting insights based on what you think is interesting, broadcast them based on what people want to learn from you. Do you think it is a good idea? Let me know in the comments. Also, if you like to ask me more questions, do that from my profile. If you like the experiment and would like to be asked, let us know! Photo below: the first three believers:)

Justas JanauskasCEO @ Qoorio
Miglė Andrulionytė tell it to Qoorio community, and get more views on it:)
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Next Wednesday, 7pm GMT+3, join Giedrė Rajuncė and me for a live stream on Qoorio Facebook. We’ll speak about personal brand, what it is, that you are a brand, and how to make money out of it. See you soon! 💪🤘🦀

Stephen BrooksEntrepreneur & Acapella Singer
Exciting 😊
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Andrius Janauskas on Building QoorioLead Software Engineer @ Qoorio3 months ago
Qoorio app uses a lot of open source libraries. One of the great things about open source is the ability to collaborate with the rest of the community on common problems facing us. One of the open source libraries Qoorio uses extensively is react-navigation which is primarily responsible for screen presentation, animation and history management. Few months ago we migrated to newest version of react navigation, however we soon found out it contained a bug that could potentially affect our customers. Since react-navigation library is an open source we were able to track down the root cause of the issue and fix it - not only for ourselves but for other developers using the same library. https://github.com/react-navigation/react-navigation/pull/7898
fix: finish stack animation on CANCELLED event by ajanauskas · Pull Request #7898 · react-navigation/react-navigation
github.com
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Lina Linkeviciute on Building Your StoryTheatre Director [email protected] Paintings/Luxury Business Professionalabout 1 month ago
Is STORYTELLING really the most powerful tool of all?  In 2009, a journalist by the name Rob Walker began an epic journey of discovery. He wanted to find out for himself if it is really true. He started his experiments by buying 200 objects from eBay. On average, each item cost just $1 ! Then he called 200 authors and he asked them, “Would you like to be part of a study on significant objects? Will you participate by writing a story about something I bought on eBay?” Each of the 200 authors said “YES!” So he had 200 objects and 200 stories. He then put each of the items back on eBay. One of them was a beautiful horsehead- yes- the head of a real horse. He bought it for 99 cents. With the story added, he resold the item for $62.95! …just a small increase of more than 6000% So the journalist who bought 200 objects for a total of $129, sold all objects with their stories for $8000!!!   I can do the job of 200 authors by creating your book’s, your company’s, your product’s or your Qoorio profile's story structure plan.     How I do it?    In order to create effective stories, you have to be surrounded by people and their stories, have a great capacity for empathy and understand human emotions, motivations, and psychology, and shape them into a logical sequence of events to create a story arc.   It might sound difficult, but for me it’s like 2 times 2 😊 I’ve used stories to create value for my own commercial practice and now I’d like to share this special talent with you. With The Right Story, The Sky Is The Limit!!!  

Thomas DesimpelAngel Investor, Polyglot, Real Estate Investor
Lina Linkeviciute let's start exchange virtual things into knowledge. I will post a new insight "qoorio's red paper clip" and I invite you to "trade" this red clip for any picture/foto/object you like and then invite somebody else on Qoorio and to trade this with their personal favourite/object etc...the idea is not to sell (I will call the currency Qoorio red paper clips) but to share brief insights, i propose one/two sentences of life learnings max, to each other... Let's make the longest insight post on Qoorio ever.:)) What do you think?
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Lina Linkeviciute on Building Your StoryTheatre Director [email protected] Paintings/Luxury Business Professional16 days ago
The Story About The Old and Creative Man Once upon a time, there was a young man, who couldn’t believe in his creative capacities. One day he met an old man and asked him “Can I become more creative, if I am not gifted?” The old man explained, “If you have a brain, you are creative. Anyone can choose to develop this skill. “ The young man asked again, but "I understand your point, many people have some small inspirations but so few make something big enough to change the world. Why do so many people choose the same life day after day, doing their tasks if they have creativity within them? The old man smiled: "Creativity is the ability to perceive the world in new ways, to find hidden patterns, to make connections between seemingly unrelated phenomena, and to generate solutions. Creativity involves two processes: THINKING, then PRODUCING. If you have ideas but don’t act on them, you are imaginative but not creative. The young man got very interested and continued asking, "But in so many parts of life we have no freedom and have to follow orders and produce results as expected. For example, if we are not technology geniuses, how can we be creative in business? The old man whispered: You are creative in business when you connect dots which are meaningful to people. For example: Looking for friends + Sharing life experiences + Social media = you get Facebook Cheap + Clothes + Social media = you get Vinted Knowledge + Sharing + Social media = you get Qoorio The young man was absolutely inspired and shouted excitedly, "How can I become more creative?" The old man answered: You should spent a lifetime exploring new and unrelated things. You should collect as many new experiences and knowledge as you can in order to master association. You can’t connect the dots looking forward, you can only connect them looking backwards. So you have to trust that the dots will somehow connect in your future. You have to trust in something - your gut, destiny, life, karma, whatever…. What did the old man have in his mind?

Andrew Lim Mao TungWindows System Admin with a passion to motivate and likes Technology.
The old man think of creating a better generation of people who are better then before, by collecting all data, in one place and let them learning from there. We may not have the expertise, but others do have, So we just have to connect the dots, have problem, solve problem, and not create it. Life is short, by the time you know it's already few years.
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