Nikita Bier sold his startup for $100M to Facebook

The entrepreneur of the day is Nikita Bier. He sold his consumer IOS app TBH to Facebook for $100 million dollars in 2017.

Below are top Nikita Bier quotes for entrepreneurs.

1. The number of people I dismissed as incompetent but then went on to build tech giants has cost me millions of dollars. The mistake I made was not accounting for their relentless energy to compensate for everything else. Don’t underestimate a fighter—they always get the last laugh. (source)

2. If your app idea feels like a dud, go through every interaction & consider about what would happen if you inverted it. Take a broadcast app: instead of making a post to reach many people, users send a message. It’s a heuristic that can often surface explosive engagement loops. (source)

3. When I got into consumer apps, I was confused why so many landing pages were mysterious. After testing, it was clear that the less you say, the more downloads you get. Why? Nearly all apps look stupid from a distance. You can’t internalize the value until you use it yourself. (source)

4. Social app founders spend months tweaking features, hoping there will be the one decision that makes their app blow up. In reality, 99% of an app’s value is the people on it. Perhaps they should spend that time innovating on marketing, the friendfinder, and the invite system. (source)

5. A common mistake that new social app founders make is innovating too much on design. A blockbuster app does ONE thing totally different & wins because of that. Everything else—like invites & friendfinding? Copy what the old companies did 10 years ago. Don’t reinvent the wheel. (source)

6. Build products that give people dopamine. Don’t build products based on the flaws of a competitor’s roadmap. (source)

7. Consumers don’t adopt a product because it addresses a gap in an existing product’s features. They adopt a product because of the way it makes them feel. (source)

8. After building social apps for a decade, my biggest learning has been that when you’re launching a rocketship and you’re off by 1mm, you’ll miss the moon & land in space. Details and timing matters. (source)

9. My biggest mistake during the founding of my company was having a Google engineer as a co-founder. He wrote a net total of 17 lines of code, cost over $150,000 in cash & equity, and was fired in 2 months. (source)

10. As a founder, your most destructive trait is your ego. This often manifests as founders wanting to launch their app globally on Day 1—instead of targeting one city & making it hyper-relevant for those people. The best founders feel no shame about the dirty work to go from 0-to-1. (source)

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