If I could build Instagram and sell it for $1b I sure as hell would. Might not be saving the world but people appear enjoy using it so who cares. They did manage to sell a company for $1b, a feat which practically all of us never will achieve.
That said, they probably should try to get some cash flow some time soon.
Sometimes there are no "lessons that can be learned from success stories like this". Believe it or not, for every Instagram, there's a hundred startups with founders that are just as smart and try just as hard, but don't make the cut. Do the founders of Instagram deserve their success? Sure! Should we pat them on the back and "celebrate the entrepreneurial spirit"? Absolutely. But let's not fall over ourselves praying to the success gods while we forget to work on our own products.
> If I could build Instagram and sell it for $1b I sure as hell would
Bullshit. Maybe you could! All you need is hard work, the skills to get there, and yes, a good amount of luck. But let's not pretend you, or the founders of Instagram, are destined for success because you're special or you "knew" your ideas would kick off. Look up hindsight bias in the dictionary.
>> I sure as hell would
> Bullshit. Maybe you could!
You need to read up on how the word "if" works.
no! good for them - but I don't see any way they 'deserved' it
That said, you are very right: Most startups fail, or barely break even. But without the inspirational properties of the likes of Instagram, would SV be the same? Would so many flock to Silicon Valley to try their luck? Probably not.
There are many many hard working entrepreneurs who never make it, that is fact. I do not, at least not yet, count myself among the hard working entrepreneurs. I am under no illusion that I will succeed in my future ventures nor that I am special and will automatically succeed where others have failed.
Of course there is always hindsight bias and the iOS market is more unreliable than the bitcoin price. My comment regarding building Instagram is meant as: If I had the right circumstances to take advantage of my 'unfair' advantage as a white, privileged male I would. The Instagram founders did and got lucky.
Lastly, I hope that your own startup venture is successful in the future. You seem to have done more good for the world, via volunteer work, than I ever have. I hope that you are not too disillusioned by the future to stop being an entrepreneur. Sometimes we just get that bit of extra luck that we need and hopefully that will turn out true for you as well as for me. (My apologies for kinda stalking you, I could not resist checking out your profile)
That's not what the other poster said at all. They were making a remark about their potential attitude towards "cashing out", not about their perceived likelihood of being offered $1bn.
I think the wording you are looking for is "I did not find this interesting or worthy of my time", which is fine, but I wish people would let other members of the community decide if they think a link is vote-worthy or not rather than arguing the merits of an upvote in the comments.