Somani: 90% to 95% of 100x startups address express demand, not new widgets
Amit Somani · 100x Entrepreneur | Episode 15 | Amit Somani, Managing Partner, Prime Venture Partners · Sep 17, 2019 · at 23:40
Amit Somani, Managing Partner at Prime Venture Partners, discusses whether successful startups invent unarticulated needs or solve existing customer pain points.
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“All that said, 90, 95% of New startups, even the ones that are successful and go scale up a hundred X are often even an express demand, which is not identified early enough, right? So you don't need a proxy. I mean, you have that thing that people are trying to use this and this is not working. And if you, if I build a better solution here, which is 10 X better or differentiated or cheaper or faster, people will adopt it much faster than trying to you know, peddle a new widget.”
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