Three kinds of startups

Note: Yes I use em-dashes when I write, and no this is not AI. There are three kinds of startups. I have worked at all three — feel free to guess which is which. First, hype-driven startups. It may sound bad, but this is the kind VCs like the most. You have something many people want — or at least the vision for it. Traction is obvious, for competitors too. You must chase growth at all cost to stay relevant. Your goal is to raise ever-larger rounds. Second, customer-driven startups. You have found people who have a real problem; usually problems, plural. The market is underserved, and you know how to help. You start selling them things they need; they like it, give you feedback and help spread the word. Your goal is to be profitable. Third, value-driven startups. You bet that something will become very valuable in the mid-term future. To be honest, you don’t know exactly in what form or to whom. It requires real tech that nobody has yet. Your goal is to learn, hire a few specialists,…