Nicholas Hinrichsen co-founded a company called Carlypso after graduating from Stanford Business School in 2013. They went through YCombinator (same startup accelerator as AirBnb, DoorDash, Stripe, Reddit etc) in 2014, raised a total of $10M in venture funding by 2015 and sold the business to Carvana.com in 2017. They joined Carvana pre-IPO, went public at a $2.5bn valuation and are now worth $40bn. Carvana is the most valuable used car retailer in the U.S. Nicholas and other the co-founder stayed with Carvana for 3 years and left in June 2020 to start a digital auto loan refinancing platform. Their new business is all around helping Americans save money on their auto expenses and insurance and is a great angle to realize savings.
“the most important thing in entrepreneurship is get started. It’s so easy to think about the business and an idea and how to provide value and find reasons not to do it. It’s so easy to talk yourself out of doing something versus into doing something. So, my advice would be to just get started, do something. The most important thing is to get to a no quickly. You need to find out quickly why the idea that you have in your mind doesn’t work. And when you do that you will experience surprises by talking to customers from which you can learn and develop new hypotheses until you find a business that works”…[Listen for More]
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