Naval Ravikant - Lessons learned
What used to cost $1M-$2M to set up, now costs $10K. What used to cost $5M to build, now costs $250K. What used to cost $20M to go to market now costs $1M.
But the upside hasn’t gone down. It has gone up. The 3 billionth person will be online shortly. They can all use the product. Network effects are stronger than ever, and some businesses become natural monopolies very quickly. Most web products have no marginal cost of replication, so adding a new customer is pure profit.
Less labor required. Less capital required. Less cost to scale. Larger markets. Cheaper marketing. No cost to ship more product.
— Naval Ravikant