Caso Waze_Uri Levine_TUF Colombia 2015

7/23/2019 Caso Waze_Uri Levine_TUF Colombia 2015

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Entrepreneurship &Disruption

Uri Levine [email protected]

Waze / FeeX / Moovit / Roomer / Zeek / Engie / FairFly / FairSale


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Focus: it is not what we are doin it is what we are not d

Agenda

Waze

Journey

Startup

Tips

Startup

Passion Dis


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Entrepreneurship Love or Hate leads to Dream and Passion

Willing to Sacrifice

Longer Roller Coaster Journey

No doubt whats next

It is like

What is the roblem oure solvin ?


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Venture

Out of tons of ideas

You fall in love with one

It takes time to fall in

love Then you share your

idea to get feedback

And if they dont like it

you disengage

Out of many girl

You fall in love w

It takes time to f

love Then you show u

your girl to getfeedback

And if they dont

Girl

If ou dont LOVE what oure doin then do somethin that

Falling in Love


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The 1styear keys for suc

Fund Raising

DNA

Mission

Focus

The main thin is to kee the main thin the main thin


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The Long Journey

If oure ha with our roduct ou launch wa tooooooo


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Journey realizati

Failures are the best teachers


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Big Ideas

Ask yourself who will be out of business whI succeed?

If you dont know it is not big enough


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Celebration the 1steveryth Good:

Launch, Employee, User, PR, Revenue,Million, Office, Prize, Deal, Fund raising

Better:

Overloading, Patent infringement,Law suit, Fraud

Best:

Thank you letter from users

Ask for hel ou will find man that can and will hel ou


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The Startup Journey

Entre reneur: Passion for a chan e > Fear of failure and loss

ProblemUsers

So

Startup

Find a Solution For many Users With a Pro


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The Waze Journey

Wazer One


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The Story: Livemaps


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The Story: Livemaps


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The Story: Livemaps


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The Story: Livemaps


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The Story: Livemaps


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The Story: Livemaps


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Does it really work

=
http://www.youtube.com/watch?v=VRlwwtAuMiohttp://www.youtube.com/watch?v=VRlwwtAuMio


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Making a Long Story Sh

0

10.000.000

20.000.000

30.000.000

40.000.000

50.000.000

60.000.000

Jan2009

Feb2009

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Jan2012

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Nov2012

WazExcitementof creation

Moving theNeedle

Magic

happens

TotalDisrupt


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Waze was acquired on

And I left the day after to start a new startu


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FeeX Robin Hood of F

Biggest secretin the world - $600Bof fees i People dont know they are paying them

1/3 of retirement will be paid in fees

Lack of transparency


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FeeX Impact

25% of our users change their holdings Saving a $50,000 in average per user

Albert Einstein: compound Interest is the 8

force of the Universe those who understanare earning it, and those who are notare

paying it


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Dont go home without thBuilding a startup tips

You may want to write these down

Make our mistakes fast and if ou hesitate oure wa tooo

B ildi


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Building a startup Quest for 3 elements

Users Problem

Solving that problem for these users

Find something that works

Replicate it

Fall in love with the roblem not the solution

l


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Emotional Engagement Strong emotions

Love

Hate

Sucker

Frustration

Anger

Rage Bad and good

Enemy

Outsmart

EmpoweredIf ou think ou can oure ri ht

Ti


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Tips Who are your USERS and their PROBLEM

Make your MISTAKES FAST

DNA+ MISSIONjourney

Fall in LOVEwith the PROBLEM, not the solu FOCUS it is what we are not doing

Fall in love with the Problem not the solution

F d R i i Ti H F


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Fund Raising Tips How F

Strongest point at the beginning They are users too

Story Telling Big Market

Strongest point at the endThe main thin is to kee the main thin the main thin

Di ti


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Disruption

Waze Uber Self Drivin Car iPhone

Product Price

Knowledge Model

MarketEquilibrium

Di t


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Disruptors

Entrepreneurs or new players Nothing to lose

Driven by Passion or Hate (Palo Alto Network

Existing players can NOT disrupt

Wh I?


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Who am I?I tend to upset a lot of industries

C lli f di


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Calling for disrup

Asymmetric Information Middlemen/Broker

Unclear Value/Price

U i L i


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Uri Levine

Serial Entrepreneur

and disruptor Only consumers

a lot of Good to a lot of People

Money and time loss Empowerment

Real problems

Big Impact

Fall in Love with the Problem not the solution

M St t


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Fall in Love in the PROBLEM oure solvin not the solution

My Startups

Th M d l


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The ModelUser Emotions

How the user feels (about the problem)

Market Size In users or $$$

Disruption How the market will change

The Trick The enabler of the disruptionImpact What would happen to the market

W


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WazeUser Emotions Common Enemy, Hate traffic Jams

Market Size 1B cars

Disruption FREE and actionable traffic

The Trick Crowd Source

Impact Navigation disappeared map maker

Moo it


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MoovitUser Emotions helpless

Market Size 1T trips per year

Disruption Global, zero time to launch


Impact Control Public Transportation data

FeeX


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FeeXUser Emotions Helpless, overpaid

Market Size $600B of fees (US)

Disruption Free and tranparency


Impact New market equilibrium

Roomer


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RoomerUser Emotions Throwing money out the window

Market Size $9B loss in the USA

Disruption Everyone wins (no disruption)

The Trick Market Place

Impact Increase utilization

Zeek


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ZeekUser Emotions Throwing money out the window

Market Size $100B loss (Global)

Disruption No disruption everyone wins

The Trick Market Place

Impact Branded money

Engie


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EngieUser Emotions Frustration at the mechanic

Market Size $500B mechanic market (Global)

Disruption Transparency and price comparison

The Trick Connect to car computer

Impact $150B gap new equilibrium

FairFly


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FairFlyUser Emotions

Over paid (Sucker)

Market Size $700B airfare

Disruption Price transparency

The Trick Compare after buying

Impact $100B gap new equilibrium


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Find a BIG Problemsolve

Thank [email protected]

The yellow tag lines I


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The yellow tag lines IFocus: it is not what we are doing it is what we are not doingWhat is the problem youre solving?Who are your users?If you dont LOVE what youre doingthen do something that you doFall in love with the problemyoure solving not the solutionThe main thing, is to keep the main thing the main thingNo one was born CEO build a team to support youThe CEO is all aloneThe biggest enemy of good enough is.perfectMy more successful companies built their management teams at theIf youre happy with with your product you launch way tooooooo laSuccess = (A lot of value) X (a lot of people) X (a lot of times)Find a big F problem to solveWhen you started you had a mission prove that you can

Show significant value before you can ask something in return

The yellow tag lines II


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The yellow tag lines IIIf you dont know your usage figures, youre doing something wrongFocus: it is not what we are doing it is what we are not doingA Startup is a continuous quest for product X users until you find itToday is the first day of the rest of your lifeNever forget your long run goal and what you stand forDoes it even worth it what will happen if youre successful?Prepare for rejection do not be afraid to failDont worry that someone will copy you worry if they dont

We have two ears and one mouth so we can listen twice as much aStrategy is very important is can be up to 20% of the success rest isA dog will not jump if you hang the sausage from the ceilingWhy do dogs lick their balls?Ideas are easy making them happen is the hardest partIf you dont measure it it does not exist

You wont be good enough, if you dont know what good enough is

The yellow tag lines III


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The yellow tag lines IIIDont assume askand if it doesnt work, then TRYFunding is like fuel for the car I would rather go without refueling

Who would be out of business if youre successfulThe difference between CEO and CFOBen Horowitz: as a CEO, I slept like a baby, woke up every 2 hours aSchedule Your Priorities and not priority your scheduleThe winning triangle: Users + Problem + SolutionA lot of nickels and dimes is still nickels and dimes

If there is no main dish there is no mealVinod Khosla: 70-80% of the VCs add negative value (so nothing is beSmart Money WTF? Have separate money and separate smartYou dont want to go home with a deal that you dont like Once they invest they get you by the balls, AND you get themFund Raising is an extreme sport

People dont stop dreaming when they get old, they get old as they

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Caso Waze_Uri Levine_TUF Colombia 2015