Venture Capitalist Fred Wilson had a great post a while back titled, “Bootstrap Your Network With A High Value Use Case.” He points out that the initial value proposition for Waze (the community-based traffic and navigation app acquired by Google) was simply to help drivers that like to drive too fast identify speed traps. But it of course quickly expanded way beyond that and now provides a lot more value …

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Many people used to believe that Facebook was an extremely defensible business and that it would be almost impossible for another social network to compete.

It has grown to an enormous scale with massive troves of data and more than 1.5 billion monthly users. The thinking around their defensibility was that because all of your friends and photos and updates are already stored on Facebook, it …

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