From charterworks: Former Uber exec Andrew Chen explains how to tackle the 'cold start problem' in his new book
Chen’s book has been eagerly anticipated in startup and venture capital circles, given his prominence as a general partner at Andreessen Horowitz and board membership at startups including Substack and Clubhouse—and the book’s promise to explain how to start, grow, and defend successful businesses.
Check out Charter’s Reset Work package of tools, resources, and services to help your team navigate this next phase. As he acknowledges, network effects are sometimes touted as a semi-magical business dynamic, but they’re poorly understood. And they are particularly vulnerable to the cold start problem, since even good products can fail if there’s no one else to message with, or rent a room or get a ride from, or share photos or videos with, for example.is that many dominant businesses got their early start by serving niche markets—what Chen calls “atomic networks.
Making the product compelling for the “hard side” is thus a critical early priority, which in the case of Uber involved extensive bonuses and financial incentives for drivers. Tinder’s founders threw big parties for college fraternity and sorority members to get them to use the app. Chen suggests looking at hobbies and side hustles to find ways that people can be engaged to participate in the “hard side.
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