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NFX’s James Currier: Where unicorn ideas come from and why founders ‘have to keep pivoting’


Are you a seed-stage founder who’s building a unicorn?
NFX Founding Partner James Currier would like to save you some time: Startups that grow into billion-dollar companies have three basic forms of defensibility.

Network effects: Your product becomes more valuable as more people use it.
Embedding: Integrate your services so deeply, customers “cannot rip them out.”
Data loops: Gather, process and act on real-time data.

“This is really only talking about world-changing, big-ass businesses with a lot of impact that could be a billion dollars or more in value,” he said at TechCrunch Early Stage last month. “That’s what we’re investing in. And what I’m talking about today is only for the people who want to build those types of businesses …

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