A repost from very early in the covid crisis, January 9, 2020:
Some people do, some people think.
First up, Stripe's Patrick Collison:
Some examples of people quickly accomplishing ambitious things together.
- BankAmericard. Dee Hock was given 90 days to launch the BankAmericard card (which became the Visa card), starting from scratch. He did. In that period, he signed up more than 100,000 customers. Source: Electronic Value Exchange.
- P-80 Shooting Star. Kelly Johnson and his team designed and delivered the P-80 Shooting Star, the first jet fighter used by the USAF, in 143 days. Source: Skunk Works.
- Marinship. "Shipyard construction was begun promptly after a telegram from the United States Maritime Commission was received by the W. A. Bechtel Company. The telegram was received on 2 March 1942, the Sausalito site selected on 3 March, and a proposal to build the shipyard presented in Washington DC was made on 9 March. Ten minutes into the presentation U. S. Maritime Commission administrators told the W.A. Bechtel Company to build the shipyard. Physical construction began on 28 March. Construction start was delayed two weeks to allow the 42 families living on Pine Point, which was scheduled to be demolished to build the shipyard, to move." The first ship was completed on September 15 of that year, 197 days after receiving the telegram. Source: Marinship on the Fast Track.
- The Spirit of St. Louis. In 1927, Donald Hall and Charles Lindbergh designed and built Spirit in 60 days. "To determine the amount of fuel the plane would need, Lindbergh and Hall drove to the San Diego Public Library at 820 E St. Using a globe and a piece of string, Lindbergh estimated the distance from New York to Paris. It came out to 3,600 statute miles, which Hall calculated would require 400 gallons of gas." Source: Ryan Airlines gave Lindbergh wings.
- The Eiffel Tower. The Eiffel Tower was built in 2 years and 2 months; that is, in 793 days. When completed in 1889, it became the tallest building in the world, a record it held for more than 40 years. It cost about $40 million in 2019 dollars. Source: Eiffel's Tower.
- Treasure Island. In 1935, San Francisco decided to commemorate the completion of the Golden Gate and Bay Bridges by building a new island as a home for the Golden Gate International Exposition. Treasure Island, a 400 acre man-made island in the middle of the San Francisco Bay, was the result. Construction started in 1935 and was complete by March 1937. Source: San Francisco Fair: Treasure Island.
- Apollo 8. On August 9 1968, NASA decided that Apollo 8 should go to the moon. It launched on December 21 1968, 134 days later. Source: Apollo Spacecraft Chronology.
- The Alaska Highway. Starting in 1942, 1,700 miles of military roadway were built over the course of 234 days, connecting eastern British Columbia with Fairbanks, Alaska. Source: The Alaska Highway.
Stripe is one of the very few fintechs—or even unicorns in general—that might be worth its valuation, $35 billion as of the last $250 million from General Catalyst, Sequoia, and Andreessen Horowitz.
And then there are the people who think. A repost from September 2017:
The Phoniness of the Thoughtpreneur
Thoughtrepreneurs: The Poison of the Student Startup Scene
What I’m about to say isn’t new. I’m not a thought leader, a visionary, or an original thinker. None of my ideas are innovative. In fact, that’s the whole point of this article.
I came to Penn because of my love for startups and my dreams of becoming an entrepreneur. Ever since working my first ever job at NorthPage, a digital marketing startup back home in Connecticut, I knew that I wasn’t meant for the 9 to 5, suit and tie, cut and dried lifestyle. The fast-paced, high energy, collaborative work involved in growing something from the ground is cumbersome and frustrating, yet highly rewarding. Entrepreneurship is more than just small businesses to me. Entrepreneurship is a vehicle for both social and technological progress, as well as the epitome of the American Dream and free-spirited pioneering. This passion for creating is what attracted me to YouthHack Philly, Penn’s branch of an international community passionate about encouraging entrepreneurship, scaling startups, and fostering new founders. Through the Ventures Accelerator, YH’s startup incubator, as well as all the entrepreneurship panels I’ve listened to at Penn, I’ve come to a troubling conclusion.
Penn has very, very few entrepreneurs. What we do have is an overabundance of thoughtrepreneurs. Thoughtrepreneurs are people who think about potential businesses, instead of creating them. Oh they may have patents pending, an S corporation filing, and a website, but what they do not have is a business. Here at Penn, and especially Wharton, everyone focuses on the idea. That one brilliant, magical thought that rockets Bill Gates, Mark Zuckerberg and Evan Spiegel from college students to billionaires in the blink of an eye. That’s just patently false: ideas don’t make great companies, great people with with greater products and the greatest implementation strategies make great companies. I’m probably the millionth person to say this; there are some great articles about echoing these thoughts here, here, here, and here. If you can’t execute, prepare to have your business become executed. Each week I see a Wharton student talk about his great new fintech startup without having written a line of code, a college student talking about her biotech startup before she’s even taken cell biology, and an engineer talking about another goddamn social media app. The same buzzwords get thrown around anywhere you go: analytics, machine learning, blockchain, crowdfunding,
biotechnology; the list goes on. Instead of having a real product, kids submit their BS brainstorm sketches of ideas as patent applications then go ahead and start pitching. Suddenly Berry Stern is the CEO of Fake-AF Metrics, a cutting-edge industry leader in consumer analytics utilizing proprietary deep learning algorithms to collect, coalesce, and distribute data via a blockchain infrastructure for Fortune 100 clients. The saddest thing here is that he knows as much about this technology and business as I do stringing together random phrases!
Me? Sometimes I sits and thinks, sometimes I just sits.The fault in our system lies not in our founders but the entire entrepreneurship ecosystem. Those who act as entrepreneurial support staff, such as myself, help fuel these issues by making teams create marketing campaigns and meet with Venture Capitalists before they even have an initial prototype, and by failing to vet the technology behind a single startup. The issue also lies both with the business and engineering schools for failing to educate and equip students with the knowledge and tools necessary to build actual companies where it seems like the only kids who know how to do anything before senior year are the programmers. That’s why every hot startup starts interviewing “developers” for “coveted internship positions” and a chance to be a part of the next big “disruptive technology” because they can’t build it themselves. Even better is when the freshmen and sophomore biology students create their companies that are about to cure cancer, end AIDS, and reverse Alzheimer’s. It’s all talk....MUCH MORE
(okay, it was actually A.A .Milne in one of the Pooh books or Satchel Paige or Thoreau or...who knows?)
