Many college students and adults want to start their own company as they think they have the next million dollar idea. However, only a few of those entrepreneurs actually succeed while many others go bankrupt. In this article, I will discuss what I believe to be the most important characteristics of a successful startup.
Enrico Moretti, Professor of Economics, here at UC Berkeley, starts off his book ‘The New Geography of Jobs’ contrasting California’s two cities, Menlo Park and Visalia. Back in 1969, they had comparable income levels and high-paying jobs. But since then, these cities have diverged. Visalia has one of the lowest average salaries in America, while Menlo Park, and the broader Silicon Valley, has the second-highest average salary in the US with its high paying tech employers.
As one of the most anticipated IPO’s of the year, DoorDash is set to go public in an exceptionally volatile market. The online food delivery platform has grown into a $12.6 billion dollar company in just seven years, with a dramatic increase from its $1.4 billion valuation in 2018. However, the success of its IPO stands in question due to changing investor sentiments concerning current market trends and recent struggles among competitors.