There is no denying that most startups begin with absurd ideas. According to statistics, about 80 to 90% of such startup ideas fail. But not always. Sometimes even a crazy idea can work so well that it can bring a revolution around the globe.
In the past few decades, there have been few such startup ideas that were not only absurd but also too cranky to be taken seriously. But over time, they blossomed into massive companies that are irreversible today. Ideas that not only made huge money but changed the dynamics of the digital world around the globe.
Yes, sometimes the best results come out of the kookiest ideas.
Facebook is undoubtedly one of the craziest ideas Mark Zuckerberg put forward and believed that it could work when many of the people didn’t. Zuckerberg launched his idea as an exclusive virtual yearbook, and nobody believed in him about the success of this idea.
But the idea became a sensation like no other. Today, Facebook is one of the most powerful companies all the world.
What do you think: What’s the point of a virtual yearbook when there’s already a giant, well-loved social network called MySpace?
The idea not only worked instead blossomed into the never-seen-before success story. The idea’s exclusivity and mature layout to the software worked really well.
Much ahead of its time, Amazon, too, sounded crazy to investors. The idea was too boring to be successful, as people believed who wants a virtual bookstore when they can go to Barnes & Noble?
But guess what it turned out to be a huge success.
The Idea started just as an online bookstore expanded to sell electronics, software, video games, apparel, furniture, food, toys, and jewelry.
Today, Amazon is one of the five biggest companies in the U.S. information technology industry, along with Google, Apple, Microsoft, and Facebook.
An absurd idea is now referred to as “one of the most influential economic and cultural forces in the world”, as well as the world’s most valuable brand.
PayPal is an online payment system that supports online money transfers and serves as an electronic alternative to traditional paper methods like checks and money orders in most countries.
It was certainly absurd, and if I may say so ‘too crazy to think, people will actually trust some digital method and share their bank details and other confidential information with them.
But the idea not only worked, but it changed the dynamics of the money market forever. The growing height of PayPal even tempted Peter Thiel and Elon Musk like great investors and entrepreneurs.
Another such kooky idea was sharing a home with people you do not know. If you have a big space in your house, and are you open to letting random travelers from all around the globe stay with you? List your property with Airbnb!
That’s how Airbnb works.
Yes, Airbnb was too absurd to be taken seriously. But it eventually became a popular digital marketplace for lodging, primarily homestays for vacation rentals and tourism activities. It started in San Francisco and California, but it has captured many other countries. One can simply look for space via the Airbnb website or mobile application.
Byju’s unforeseen success in the last few years brought this Indian startup to our list. In March 2020, Byju’s claimed Rs 2,800 Cr revenue and 3.5 Mn paid users, and these digits are expected to be much higher in the coming year.
It is safe to say that no one would have thought an Indian EdTech Company would make this big in the future; rather, it was criticized to be a less developed idea.
Last year, Byju’s won the sponsorship rights for the Indian cricket team jersey, replacing its former sponsor Oppo.
Isn’t it interesting to know how these crazy ideas proved all the speculations and assumptions wrong?
“The world has always gone forward when people have dared to have crazy ideas.” – Gioconda Belli