@msfaithyeo: Their biggest mistake wasn’t building proptech. It was assuming everyone wanted to get rid of their realtor. Consumers aren’t stupid. If millions still choose to pay for a service despite having alternatives, maybe they see value that the startup didn’t. #realtortiktok #startupfail #realestateagent #ivorytower #proptech Sources: sg.pe.teacher | @investingiguana | @coachjameslong | @davidkychuaofficial | ohmyhome

mitchi :

many entrepreneurial business models focused too much on the initial sprint to IPO. once IPO has been achieved, the initial owners cash out some parts and make their $$. After that happens, many lose focus and hunger. The post IPO focus becomes "driving shareholders value", which is really a very short-termed goal. Coupled with the fact that entrepreneurial businesses are by design very ownership lead businesses, the original owners now find themselves in a situation where their original control is diluted and they are being told by shareholders "what to do". The two facts kills the drive and distracts the focus. When the driver of a car no longer has a control over the destination and the route, they have no choice but to surrender to the invincible force that controls. Route control and destination becomes less important, but compliance becomes the new focus. Same psychology applies when a driver switches to be a ride-hailing driver. He/she no longer care about the destination or the route, as long as he/she gets paid. Management becomes a "job". You will experience the same too, if you move as an "agent" to attempting to corporatize "your business".