If You Were to Launch a Business/Startup, What Industry/Sector Would It Be In?
Earlier this year, Inc.com released a list of sectors to consider going into if you were to start a business. The list included some pretty interesting ideas: Disaster Relief, Alternative-Protein Food Products, eSports, Influencer Agents, Beauty Tech, Women’s Reproductive Health Care, Canned Wine, Elderly Care.
Any sector to add to the list?
Link to article: https://www.inc.com/ss/best-industries-for-starting-a-business
Marijuana
Cool list
As someone who is nearly 7 years into a healthcare technology startup - don't do it. It's exploding, but the market moves so incredibly slow that you constantly face a war of attrition to keep enough funding to get enough proof points to keep it going. We are doing well, but it's been an incredibly painful uphill battle.
There are also some decent vendors that are already well funded, like Redox and the Sequoia Project (.org). The main problem is that the legacy EMR vendors (Epic, Cerner) have no desire to open their closed gates, and their tech is so dated that it is painfully slow to make headway, even when a major mutual customer says to do it.
It will happen, but the pace of change in healthcare is so slow that it's hard to offset the risk profile of that with sufficient early revenue growth. I was naive on how painful it would be when we started.
Brothel
Cannabis, hands down.
If there was an industry I'd be ok DYING POOR in, it's this one. I still have every intention to enter but having the right network is so crucial to starting right (which is actually why I moved to VC out of ER). If I died poor but helped make consuming cannabis equivalent to drinking wine/beer for working professionals I'd be happy with that.
Also, if anyone has connections to the industry or want to connect just to chat about it, please PM me. Would love to connect with more working professionals that are into the space.
Sorry not sure which news you're referring to but I'll share thoughts about the big ones...
1. Talks between Coke and Aurora: If you saw the most recent update, Coke said they're mainly focused on the wellness aspect and have no interest in psychoactive components. This makes sense since Coke doesn't dive into alcohol either and they're looking to expand their better-for-you portfolio. Cannabis beverage distribution and regulation is also likely to go the way towards alcohol so supply chain dynamics favor the alcohol players. I am SUPER bullish about cannabis beverages because it's such a familiar medium to consume but given the potentially tight distribution channels and capital-intensity to scale beverages, I think this category is meant for a big company to win in.
2. Tilray's stock price: Tilray's stock has been on fire and market cap is now at $20B. Recently, the USDA ok-ed Tilray importing cannabis to the US for medical research. TBH, I think the stock is really priced to perfect perfection right now. It's mostly retail money driving it and private investors in the company will be able to sell the stock in Jan 2019 so I'm incredibly wary. FYI it's a $20B valuation for a company that reported $20M in revenue?
3. South Africa legalizing recreation: TBH can't speak much for this but glad to see the headline