Why Smart People Have Bad Ideas

Paul Graham and Robert Morris's first startup around the age of 30, which involved putting art exhibitions online, ultimately turned out to be a bad idea, let alone for those in their 20s.

Why do smart people come up with bad business ideas?

1. Bad ideas are products of intuition.
   1. People often think of what to do based on what they see; however, if you plan to work on something for several years, you should weigh several different ideas beforehand.
   2. The most tragic part is the subsequent IKEA effect: despite being a bad idea, because you invested effort into it, you will grow fond of the idea.
   3. What to do? Getting started quickly is good, but you must recognize that ==spending time does not necessarily improve the situation.== Keep asking yourself: Would anyone be willing to pay for it?
2. Bad ideas prioritize being impressive over making money.
   1. If you want to make money, don’t shy away from dirty work: the dirtier and more laborious the work, the fewer people are willing to do it, leading to a tighter supply-demand relationship; if you take it on, your bargaining power increases.
   2. Since making money is hard, your primary goal should be to make money; otherwise, you won't make any.
3. Bad ideas yield to fear of competition.
   1. Competition may not be as fierce as the media portrays; they often lack technical knowledge and coding skills.
   2. Why do we fear? Understanding programming but not business? In reality, the term "business" is too broad and abstract, obscuring the concrete issues below: selling products, promotions, understanding what customers want, pricing, customer support, billing, etc. Once you tackle these details, you have resolved "business."
4. Bad ideas are too superficial.
   1. Most ideas are hybrids of blogs, calendars, dating sites, and social networks. Meanwhile, there are better, unsolved problems in the distance with high demand, yet no one is addressing them.
   2. Why is it difficult for people to research what customers truly want? The existing education system teaches people how to solve problems but fails to teach them how to ask questions.

Understanding what users want is challenging, as it requires recognizing that you need to invest time and effort into this task. Unsure how to start? The answer lies in Carnegie's classic "How to Win Friends and Influence People" — the answer is empathy, or putting yourself in others' shoes.

Fortunately, the ability to conduct user research can be learned; "smart creators" and "user research" are a perfect match that can unleash endless potential.

In a nutshell: Create products and services that the public loves and enjoys.