Basically every VC, PE or Global Firm will create some sort of an Incubator and periodically invite all entrepreneurs to participate.
The idea of such events is very simple and two folds…
- To make sure they are NOT missing out on any opportunities, and are aware of the best the ecosystem has to offer. “We want to be at the top of things. Please keep us in the loop” (Management jargon)
- And secondly to grab the best ideas, solutions and innovations and scoot without giving anything in return. Which is outright theft.
Such people always bullshit you – that an idea or a solution or any innovation for that matter has no value, the only thing that matters is execution.
Lets see why that is bullshit.
Basically every successful business ONLY succeeds IF AND ONLY IF it solves a valuable problem for its prospective customers. That is the entire purpose of businesses.
This doesn’t include websites, mobile apps and other ponzi schemes like online kirana stores etc. Because they have no technologically feasible, economically viable value proposition. And are retrograde to the ecosystem and the economy. For the purposes of this argument we are focusing on prospective real businesses only.
So to solve a problem…
You need to develop a solution and its basic concept. And creating the conceptual solution takes months if not years. And is at the core of every successful business.
So by saying that an idea or a solution is worth nothing. They are absolving themselves of all legal liabilities atleast psychologically in your mind and they also know it will be phenomenally prohibitive and legally impossible for someone to sue them successfully. So they will beg, borrow, steal and scoot with everything the ecosystem comes up with.
The truth is that if you have a technologically feasible and economically viable solution to a valuable business problem. Someone can throw money at it and hire qualified idiots aka MBA’s or seasoned managers to execute it for you. No offences to MBA’s.
If ideas were worth nothing then howcome these same a$$holes spend $1bn-$20bn patenting concepts and ideas and buying companies with such patents? Next time ask them. No really.
This is just one example. Almost every Firm and VC literally does this.
I love Amazon but this is a shame. Its an epidemic across the world. And everyone is partying for free. Everyone else is giving them “Free Lunch’s”