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A Summary of

The Recursive Product Strategy That Musk Used To Build An Empire  

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First Round Review
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Recursive product strategy can be the first step in building for a long term success.

Civic as an example:

  • End goal: To enable a delegated democracy at scale. But there is no legal ability or cultural familiarity to do that now.
  • Stage 4: To fix the "person-not-present" challenge of those not voting in-person. It needs government endorsement. Agencies can't verify identities of people on the other end.
  • Stage 3: To build a product that securely verifies the identities. But no one has successfully built this yet.
  • Stage 2: To create the largest network of personal identification data. The time is now!
  • Stage 1: To offer a free product to protect personal identification information.

Four step framework to apply the recursive product strategy:

  1. Find a big market to dent. Yola was a failure since the market is crowded with only $1bn in total size. Gyft competes in $125bn industry.
  2. Swing a wedge to make a ding before a dent: The wedge helps to break in and maintain the edge.
  3. Look to adjacent markets to place your first swing: Gyft designed digital wallet to be integrated online or at every POS to let more customers swing the wedge for them.
  4. Each swing must reward customers and partners.
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