• 00:00    |    
    Initial credits
  • 00:06    |    
    How to create a unicorn?
    • Goals matter
    • Luck matters, but choices do too
  • 05:04    |    
    Unicorns vs. great companies
  • 06:27    |    
    How to create a good company?
    • Importance of moat
    • Minimal viable effort vs. minimal viable product
    • Scientists and patents
    • Profitless macros
    • The small buyer approach
    • Being early
    • On manufacturing scale
    • Leveraging companies
    • On networks
  • 30:47    |    
    Summary
  • 31:11    |    
    Questions and comments section
    • At the beginning of business creation, how do you square the existence of limited resources with the need to do many things well?
    • How do you suggest businesses pivot out of being selective to big buyers?
  • 37:31    |    
    Final credits


MIT GSW 2015: How to Create a Unicorn

Creating a unicorn, or a company that is valued in more than one billion dollars, is likely the goal of many startup businessmen. Is this what we really want? Martin Roschelsen argues in favor of an alternate, entrepreneurial view - what truly matters is creating a great, durable company. So how should we set out to achieve this?

Roschelsen walks us through the essential go-to’s of early business creation. He encourages businessmen to have clarity in goal definition, and to learn to adequately moat around profits. He also conjectures that spending too much time on patents is not very useful, as is investing in macro companies that are good for mankind, but profitless. He believes entrepreneurs should always seek to be early and sell to several small buyers. Finally, Roschelsen teaches that manufacturing scale is not a great moat, and that networks are.

Many choices are available to the early entrepreneur. According to Roschelsen, the correct choices made early on, will lead to greater long-term success.





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Universidad Francisco Marroquín