What start-ups need is proof, not passion

Johnny Ryan Business Strategy

I wrote this article for The Irish Times. Full story is at http://www.irishtimes.com/business/what-start-ups-need-is-proof-not-passion-1.1949565. After the dotcom bust, entrepreneurs came to realise the untested hunch was no longer adequate. In 1999, the start-up Webvan launched in the US with the intention of becoming the grocery service for online shoppers. It climbed to a multibillion dollar valuation at its IPO in late 1999, …