What to do when someone steals your idea
ฝัง
- เผยแพร่เมื่อ 4 ก.พ. 2020
- Someone stole your idea. What do you do next? if you execute faster, you go to market faster, you're innovating and running out ahead of everyone else, then even the people who are trying to copy you can only copy the version of you from six or nine months ago. That's what it takes. You can beat the copycats, but you've got to outrun them.
Full transcript here: blog.garrytan.com/what-to-do-...
Hi, I'm Garry Tan and I do this TH-cam channel for fun in my spare time. By day, I am a venture capitalist who started Initialized Capital, an early stage investor with over $500M in assets under management. We were the earliest investors in Coinbase, Instacart and 100+ more startups now worth over $36B in startup market cap so far.
Forbes Midas List 2019 #21 🚀
You can follow me on Twitter here: / garrytan
Love the lightning in this video, Garry.
I used to be very afraid of people possibly “stealing” my idea.
I would hide it from the world
Nurse it like it was oh so unique, Soooo precious.
(insert Gollum voice ___here)
Then I realized that the only way to fight copycat is to just outrun them
All-day,
Everyday.
Now, I am proud to share my “idea” with anybody I meet.
Because in my heart I know they’ll never be able to keep up the pace.
As always, great insights and great value Garry!
Thanks for watching Nam!
i share and try to motivate others to get into the same movement and involved somehow lol there’s so much wealth energy companies are going to lose
NO!
DON'T SHARE YOUR IDEAS WITH PEOPLE UNTIL YOU HAVE EXECUTED IT AND BECOME SUCCESSFUL AT IT
OR ELSE YOU WILL LOSE THE MOTIVATION
@@iExplorer64 thanks you
I have accessed so much knowledge through 5 minutes this should be a crime. Keep showering us with gems Garry 🚀
Thanks Martin!
For real
The "why now" question is worth a trillion dollars. IG wouldn't have been possible without the iPhone, & 4 that matter, many apps we use today.
I am thankful I found this channel, I've never been more confident to get out of my head and build. I'm looking at the news so no one builds my idea. 😁
An idea as a multiplier for excecution ... I agree! you don't need to be afraid of copycats
The fact that someone is trying to copy you shows you're really on to something and should actually motivate you to move faster and keep innovating
They that to the CANA!😬
I'm not even an entrepreneur. But I follow your tips as an employee. So many copycats out there.
Great video, I don't know where I read this but someone compares an idea to a "brain fart" XD.
Jokes apart, it is good to have competitors, it means that someone thinks that you're solving a real problem and there is a market for it.
While havings someone copying your idea still suck it also gives you that incentive to work harder especially if your competitor it's an established company.
It can become very tricky and sometimes it makes you obsessed with competition while you should be obsessed with delivering more value to your customer, something that we tend to forget even if we don't have competitors.
Yeah there is almost always competition. Some find the idea on their own. Some steal. The antidote is the same.
Lots of people need to hear this. This is an easy trap to fall into. Founders don't realize how much drag fear creates.
The winners learn how to eliminate fear.
Hi Garry, I came across your channel today and I've been binging your videos. Just wanna drop by to say that you're a great storyteller and appreciate your videos.
Welcome aboard!
And again, I am grateful for your the most valuable advices in the internet. Keep going! You rock!
Incredible video Garry!
It just came in the right moment, thanks.
This is awesome - thanks Garry!
Thank you, Garry. My co-founder once asked me this question very often.
I’m so glad you shared this aspect because it doesn’t matter if you have the smartest idea in the world if you don’t execute on it and you don’t share the vision with other people it’s going to go nowhere
This is exactly what I needed to hear. Thanks again Garry
Thanks for sharing this. I really needed this today.
Excellent video! Thank you for this! 🔥
You might not realize how much these videos help. So I just wanted to say thanks for putting out such great content.
I like to come back to this video every once in a while. Put together eloquently 🙏
Thanks Garry
Thank you for this. I needed to hear it. I appreciate your voicing it out.
Glad it was helpful!
Amazing video Gary, thanks for including the transcript as well, that was a smart move.
Glad it was helpful!
Thank you
I love listening to you man. You have much invaluable wisdom..
Great stuff Garry! I feel like I can't thank you enough for these! Thanks a lot for sharing
My pleasure!
Actions speak much more than ideas.
I usually say that few people are going to steal your idea because:
1. Most entrepreneurs have stuff they're already passionate about, and they can't easily feel passion for your idea.
2. Most people are generally committed to something or the other at any given point, and thus shifting over to "an as yet untested and unproven idea" is rarely going to happen... There are countless details to getting any product to work, and you likely can't see them if you hear an idea at a high level... They'd have to legit commit to your space, to be able to start seeing the nuances of it, and its true potential.
3. Everyone prioritizes and executes differently. So even if they kinda want to build your own idea, they will prioritize different aspects than you do - and then you have a competition on your hands where you get to see who is right.
-
I think there's a definite point of other people being able to come up with the same idea - usually looking at a given problem definition will produce similar solutions.
Sometimes, someone who apparently copied you, might have in reality decided to take action on something they'd already thought about, but for which they had as yet lacked the confidence and social proof to be willing to go after it... And you became their social proof that the idea they wanted to pursue, is worth pursuing - you showed that it is an idea and goal that other people also consider worth aspiring towards :)
(Obviously, this assumes passionate people. There may be some really practical, money oriented executors out there - but I don't think that most of those are going to go after immature and unproven ideas because the profit tends to be more unpredictable even if you execute well - there are as yet too many unknowns to resolve before you are fully sure what opportunity really exists)
Leto2ndAtreides interesting.
Really insightful video. Thanks Garry 🙌
Thanks for watching!
Just subscribed. You're legit the entrepreneurship/startup TH-camr I've been looking for since day 1.
🙏🙏👌
Really insightful information. Great video Gary!
Glad it was helpful!
Thanks 😍😍😍😘😘😘😘😘😘
i prepared a great and best speech on addiction for giving on stage for speech competition...my friend asked me to show the speech..i showed him mine speech and he completely copied it..in front of me he said mine speech and next was mine turn...but me as a intelligent gave the speech and changed some words....I gave speech far better then him..and I won...I got 1st prize and now i learnt a new lesson..
" keep your ideas private, execute it and then let people see "
Hi Gary Tan! I am a big fan of yours and I have been researching selfmade billionaires for 10 years! Yes, all 3 factors are equally important but execution is king. Yes, the right things to do are so counter-intuitive! #SecretsSelfmadeBillionaires
Yes! I am aware! Of those idea thief’s !
what should I do if there is a great idea that someone else patented, but couldn't get it to work, but you have the idea that can stack on it and make it work?
This was sooooooo good. Thank you! My co-founder and I just recently finished Startup School and are currently raising seed money for app development and a 12 month runway for our SAAS. I just watched a few of your videos and you’re really inspiring. Please let me know if there’s any way of pitching our idea to you.
Thanks. You can find me on Instagram DM
What school did you go to if I may ask?
Very insightful information, i'm glad i watched your videos.
I spoke too much at work about my life and I fee l shouldn’t have. I’ve learnt it’s probably not the best. But I feel there stealing ideas from me
I Love your Videos 😍
Very sound advice ... 💖it
Glad you think so!
This video was useful for me, thank you
Glad to hear that!
Hi Garry, you are past YC alumni. Would you have some time to review YC application. I am applying for summer 2020. Thanks!
Wow.
Eating to plant is the perfect idea to steal. it's not even stealing it's loving
Hey Garry a friend of mine stole my idea we both discuss together....what should I do to stop him.....
Execute faster
How do you avoid being an idea thief when the market already has competition? Did Box steal from Dropbox? They both seem like valid businesses because they hit different market segments
Yeah no way to really avoid.
All your videos click on me really well. Thanks G
Thanks for watching Nat!
This did happen with Justin Khan's Calendar.
Jump for joy! That's why it's important to ONLY THINK ABOUT AND WORK ON IDEAS THAT WILL POSITIVELY IMPACT THE WORLD!
We're approaching an economy of unprecedented idea-abundance, and like water, worrying about holding onto an idea is as silly as holding onto water.
Someone can probably implement the idea better than you can, but they need the idea first.
Absolutely - ideas are a multiplier on execution.
It hurts sometimes 😪 but you just do a better idea 💡
Golden
This video is useful for me. I have another doubt too. What if someone takes ownership of your project(in prototype stage) and declares himself as the creator/developer/owner of it in social media? Also what if he uses my prototype as a demo to get app funding online? How can i stop this theft? Please reply...
You should talk to a startup lawyer.
What movie is the clip taken from?? I wanna watch it.
Thanks in advance!
Silicon valley
Hi Garry, how can CS students get in touch with initialized capital with their startup idea?
Hey I get a ton of email and it's kind of overwhelming but try me at garry at initialized dot com
Idea is the field where everyone can play
But it depends on the skills of the player/founder who will win the match
What if u were sold out to a manufacturer. And put it together word for word as u did on how it works. I feel like going to the media for help.
So.... Should I share this idea in my Hackathon competition that is Made by this big company when I just a college student who can make app ?
What's the name of the movie on 0:18
HBO show Silicon Valley
Thank you
Name of movie/series in thumbnail?
Silicon Valley
@@nkosinathintuli thanks 👍🏻
In the midst of this routine battle,
The employee melts in an institutional combustion stove, just as a candle melts in a stove through
slow combustion process,
Which leads the candle to its inevitable end.
What does it mean to join the profession you love without making a cultural, literary, scientific and societal difference at all levels?
Career success does not mean reaching the ultimate peak of consciousness that humanity will benefit from.
For example, how many of those insidious techies stole the ideas?
who use their experience to satisfy their damned arrogance,
For the purpose of obtaining analytical, cultural, commercial and political information,
Selling those intellectual loot on the black market for good sums,
And all this in the name of greed and greater hypocrisy?!
But today, fortunately, most geniuses and thinkers understand this complex issue.
And this was recently due to the spread of the virtual world, which exposed the falsehood and lies of those who claim reform and righteousness, and exposed them before the worlds, in order to warn people against them and their malice
and the wise mind places them in a system of precautionary strategies in its priorities to confront them with the right plans and precautions.
ALI SUROOR
I have an idea, but not sure how to implement and start...
Learn to code
@@GarryTan my man
when ur mom calls it “our money” instead of “your money” vibes
name of the movie?
Silicon Valley
One of the best examples of stealing somebody’s idea. Facebook.
Story of my life..
Ganstalkers steal your ideas and put it in your face this can go on for years.
I wish I watched this video earlier... I didn't see the value of my startup being getting "brain *"
Did FB steal from the social networks before it then? Did Facebook steal from Snapchat? Are you a stealer if you choose a market, research competitors, talk to users, come up with a similar idea but a different insight? Seeing this video made me feel bad. I'm questioning if I'm a copy cat now. I don't want to be one.
The reality is it doesn’t matter. If anything if you can do something better and customers pick you, the right thing happened.
@@GarryTan got it. Can you tell how founders can find secrets? Peter thiel talks about this. How do we know when we have a secret?
When you say something and people really resonate with it. But you only know for sure when you can grow it fast.
I’ve my invention ideas stolen and brought to production. SMH
You can also go beat them up 😜
Haha I don’t recommend it
"From that time Jesus began to preach, and to say, Repent: for the kingdom of heaven is at hand." Matthew 4:17
"Ye have heard that it hath been said, An eye for an eye, and a tooth for a tooth: But I say unto you, That ye resist not evil: but whosoever shall smite thee on thy right cheek, turn to him the other also." Matthew 5:38-39:
They did it to the bible ! So they will do it to you !!