By Larry Chiang
Yesss!
I love After Parties. Have you been to one I’ve hosted? This afterparty I’m hosting on a WordPress via 5 embedded tweets and two pictures with one jaw dropping video.
If you’re a lazy student taking CS 183B online for zero cost, let me cut to Peter Thiel’s lecture’s chase and conclusion:
“A business creates X dollars of value and captures Y% of X”
That is exactly EUBM (more on “Engineer Up a Business Model” #EUBM later! Down below.
Peter Thiel at the 44:10 mark reveals: “Often times for scientists & engineers, Y equals zero”
That’s a problem.
Problem: We engineers get screwed when a douchie pays us zero
Solution: Delve into a different class at Stanford. “Technology Entrepreneurship” is Engr 145. It’s all free at “#ENGR145”
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Larry Chiang (@LarryChiang) |
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Peter Thiel during #CS183B Lec3, said capture Y% of X value
How to start? How to do?! #CS183Do recommends #EUBM pic.twitter.com/g6lQpAqkRl |
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Problem: “Y” = Zero
Solution: Make Y > 0.
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Larry Chiang (@LarryChiang) |
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As a student of “Business Model Generation”, I simplify p44 and 45 to #EUBM (CS VP C CR R$ KR KA KP CS
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Problem: Engineers can’t believe alpha male problems
For example, in this business model canvas, area number one can be “I’m a big dumb HTB and as a Huge Takeover Bank I can’t tell what cellphone numbers are google voice. Lol most google voice numbers scream fraud when you’re doing bill collection from deadbeats who “charged off”. Credit code 9 is ChargeOff when a bank gives up on a loan
Problems in the real world are super basic but tough for CS majors to identity
Thus, the value (X) in the above case is helping banks lose less cash by screening out credit applicants that have google voice and no legit cellphone service
Now, lets get our “Y”, bitchezz
The “Y” corresponds to “2”
Remember the “X” is region “1”
the “X” is region “1”. It’s the value to a company
“Y” corresponds to “2” aka REVENUE STREAMS
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Larry Chiang (@LarryChiang) |
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My mentor taught me to #EUBM which is cuts the lean startup methodology in to 3 specific, non-random, signature moves
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For example
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Larry Chiang (@LarryChiang) |
Testimonial #7 of 9
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Nick Tippmann (@ntippmann) |
Download
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Larry Chiang (@LarryChiang) |
Practice entrepreneurship on something already dead like #99dresses, #Plancast or this…
(it died after sxsw)
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Larry Chiang (@LarryChiang) |
It died after SXSW
SO just like a Doctor practices on cadavers, practice on a startup that’s written a postmortem
Disclosure: I sold Plancast and financially benefitted after the postmortem
(Think of it as “last board of director doing” versus the opposite VC douche which is First Investor Signalling)
Or if resuscitating something dead creeps you out… Do something “LCMCC” and new
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Larry Chiang (@LarryChiang) |
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U in @UTexasMSTC ?! Id take 3 days in SF to “#EUBM up an #LCMCC” at Marc @Benioff‘s #DF13
He’s CEO. And founder. |
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More on EUBM in the two ENGR145 videos
(Remember, hashtags used to be snarkie. Now, they’re signature business subroutines)
#GuaGuaGuacamole
Conclusion: That was quite the fun afterparty. You’re welcome.
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