David Chung Park

November 3, 2013

Startup Academy

Filed under: Startup Philosophy — davidchungpark @ 7:31 AM

I wonder if it’s possible to have a Google Ventures like infrastructure but at a university. By infrastructure, I mean the incredible support (and enabling) people they have around their portfolio companies, such as web designers, UX/UI and data viz designers, engineers, statisticians, accountants, lawyers (or soon to be), marketers, product managers, project managers, etc. Obviously, they wouldn’t be on the GV level, but we have those elements in place at universities, both at the undergraduate and graduate levels. This would be an opportunity for everyone to get tons of experience, and maybe incubate something magical. The one thing I think new entrepreneurs don’t appreciate enough in their first venture is the long leap, and the number of diverse help you need, to go from product to company. Who knows if we can get enough hits, then maybe we can start hiring a full-time staff to support these entrepreneurs.

November 1, 2013

If you could only have one core value, what would it be?

Filed under: Startup Philosophy — davidchungpark @ 9:09 AM

If I could pick only one core value for HiTCH it would be our singular focus on the “pursuit of customer amazement.”  The one value that both Jobs and Bezos shared was this relentless and singular focus for their companies. For us, the amazing experience has two dimensions:

(1) Are customers finding what they’re looking for faster than anywhere else? and
(2) Are they discovering new relationships?
 
We recognize that amazing customer experience does not equal feature creep. We need to be as relentless about what features we don’t pursue as we pursue. The criteria before adding new features is to ask, “With the current features have, have we done everything to give our customers an amazing experience?” If the answer is no, then NO new features. 

Big Data…Big Deal?

Filed under: Startup Philosophy — davidchungpark @ 3:20 AM

Every time I hear someone touting how “big data” will cure all of society’s ills, I always ask them this question, “We’ve always had data, we’ve always  faced challenges ingesting, storing, and analyzing and making sense of that data. So what’s the big deal now?” The response usually is, “But we have so much more of it now. ” Just because we have more s*&t doesn’t mean it smells any better.

I’ll go into some more detail of why I do think there’s some interesting things this time around, but I do want to emphasize there is NO shortcut to thinking hard about a problem, figuring out the process, ie mechanism, so you can really understand the problem and ultimately figure out the solution. As a friend at MSR always says, “There’s no free lunch.” And it’s especially true in this “big data” world we live in.

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