LARGE MARKETS
Address existing markets poised for rapid growth or change. A market on the path to a $1B potential allows for error and time for real margins to develop.
RICH CUSTOMERS
Target customers who will move fast and pay a premium for a unique offering.
Sure, I too would love to invest only on huge markets composed only by the world's 1%.
INFERNO
Start with only a little money. It forces discipline and focus. A huge market with customers yearning for a product developed by great engineers requires very little firepower.
Majority of Sequoia companies become billion dollar businesses and sequoia invests few million in them. In fact for companies like Yahoo it started with few hundred thousands. So what they are saying is not wrong.
RICH CUSTOMERS Target customers who will move fast and pay a premium for a unique offering.
Sure, I too would love to invest only on huge markets composed only by the world's 1%.