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Sabeer Bhatia, co-founder of Hotmail, emphasizes the importance of embracing failure and trying crazy ideas in startup success.
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Bhatia criticizes Indian venture capitalists (VCs) for having a private equity mindset, focusing on short-term gains rather than long-term growth.
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He advocates for a startup-friendly ecosystem in India, citing the US as an example where governments support innovative ideas
Sabeer Bhatia, co-founder of Hotmail, shared his insights on startup success and the importance of embracing failure. Bhatia recalled how he was rejected by 18 VCs before securing $300,000 from the 19th VC to launch Hotmail. Despite initial setbacks, Hotmail became a massive success, gaining 3 million subscribers within the first year.
Bhatia criticized Indian VCs for having a private equity mindset, focusing on short-term gains rather than long-term growth. He contrasted this with VCs in Silicon Valley, who work on instinct and are willing to take risks on innovative ideas. Citing Elon Musk as an example, Bhatia emphasized that trying crazy ideas is essential to startup success.
Bhatia also highlighted the need for a startup-friendly ecosystem in India. He pointed out that most Indian startups are not first movers, instead operating on someone else’s original idea. Bhatia advocated for a mindset shift, encouraging entrepreneurs to innovate and take risks.
The Hotmail co-founder praised the US government’s supportive attitude towards startups, citing Uber as an example. He urged Indian policymakers to create a similar environment, allowing innovative ideas to flourish. By embracing failure and encouraging crazy ideas, Bhatia believes India can foster a thriving startup ecosystem.
