The world is so much more convenient today than it was at the turn of the century. No need to leave the house to shop for groceries, or step off the curb to hail a cab. There’s an app for that.
Running out of paper towels? Place an Instacart order.
Need a ride to the airport at 4am? Call an Uber.
In the last few decades, startups have turned age-old industries on their heads, solved big problems with the click of a button, and have managed to cash in big on their products and services – if they’re successful. As do the lucky investors who took a risky bet on fledgling company that happened to land on an idea that worked.
A startup is traditionally defined as a newly established private company (< 5 – 10 yrs old), that is designed to scale very quickly. Most startups kick off as very small operations while they develop their initial idea, and then seek additional funding from venture capitalists and angel investors as they build out their businesses.