Hacks for network businesses - Deepstash
Hacks for network businesses

Hacks for network businesses

As a network business, you need specific hacks to get to scale. This usually means piggybacking on other platforms. Whatever hack you choose, you need to do it well and aggressively.

Examples:

  • LinkedIn and Facebook hacked the e-mail platform: They asked users to upload their address book and then sent e-mails to their contacts.
  • DoSomething hacked memes: they took funny pictures aligned with their mission, turned them into memes and released them into social media with a message at the end "... and here's what we're doing at DoSomething". It worked because the memes were shared a lot.

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RELATED IDEA

  • Understand the different outcomes that could happen (both positive and negative)
  • Calculate the expected return or loss of each outcome
  • Attach a probability to each outcome
  • Understanding the magnitude of the return or loss
  • Multiply the probability by the magnitude (probability of winning * value of win) — (probability of losing * cost of the loss)
  • Add up and subtract all of the expected returns and losses
  • To get started you don’t need to know the exact probabilities. Just following the process will give you unique insights you wouldn’t have had otherwise.

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Fiat money

Fiat money is a government-issued currency that is not backed by a commodity such as gold. Most paper notes started as being backed by a reserve of valuable commodities, usually gold (the "Gold Standard"). Tying a currency to gold limits inflation and money supply.

But politicians hate the gold standard, so since Nixon's presidency, the US dollar was no longer tied to gold and money had value just because the government says so.

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Buridan’s Ass

A thirsty donkey is placed exactly midway between two pails of water. It dies because it can’t make a rational decision about which one to choose. A form of decision paralysis.

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