Are you a solution in search of a problem?
(With regards to the consumer internet website Hunch)
Start ups that let you learn about yourself and help you make decisions are solving problems. Personalized social bookmarking is something that users can get engaged about. People want to organize the web in a way thats important to them and helps them identify like minded people.
I don’t see how:
1) 500,000 in monthly traffic
2) $80 million exit
Is a solution in search of a problem.
I think a lot of consumer facing start ups might look like that….but they are solving a real problem (ie Facebook). They are solving yearnings of the heart, mind, and soul. And thats almost priceless.
They aren’t actively telling people they want to discover things about themselves….but they do. They aren’t actively telling other people they want to connect with like minded people….but they do.
In a technological age people are isolated, and theoretically Hunch, Facebook, and Youtube allow them to connect. And in a down economy they need low cost entertainment….Hunch delivers there too.
No one was saying they wanted a mobile phone like the iPhone, a design-centric Apple, or Facebook.
I’m confused. Health data tracking is a huge market and a huge problem. There are both consumer facing and B2B options in that space. Helping people cut down health errors or save time and money in the heath care process is a high potential area. By your definition or criteria, Whole Foods or work out gyms shouldn’t be launched….because people aren’t crying out for them 24/7. There is a societal trend and collective unconcious around these issues….as well as economic models in the health care space. People don’t want to die…they don’t like wasting time or money. That probably will never change (like death and taxes).