The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch cover image

20VC: The Chess.com Memo: The Most Untold Story in Startups; Scaling to $100M Revenue, 150M Members and 700 People, All with Zero Venture Funding | Erik Allebest, CEO @ Chess.com

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

NOTE

The Importance of Early Wins in Activities

Early wins in activities can be crucial for success, as winning early can significantly increase the likelihood of continued engagement. This is evident in the example of creating a product called puzzle rush, which starts with easy puzzles and progressively increases difficulty, providing a sense of success before presenting a challenge. Research shows that individuals who win their first game of chess are more likely to continue playing, highlighting the importance of early wins in retaining participants. However, ensuring early wins can pose ethical challenges, such as deciding whether to allow players to win against a bot.

00:00
Transcript
Play full episode

Remember Everything You Learn from Podcasts

Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.
App store bannerPlay store banner