Number
90% of VC profits come from companies that started out as something else
Maples argues a startup isn't a company but the founders' insight and talent, citing that 90% of his fund's profits came from companies that started as something different: Lyft began as Zimride, Twitch as Justin.tv, Okta as Saasure, and Twitter nearly launched as Voicemail 2.0.
$90
Share of VC profits from companies that pivoted from their original idea · percent
“But like Lyft started as Zimride, and Twitter, they couldn't decide whether to call it Voicemail 2.0 or TWTTR. Uh, uh, Twitch started as Justin.tv. Okta started as Sasher. And so like, what do you do with the fact that 90% of your profits come from things that started out different?”
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