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The Cold Start Problem, as described by Andrew Chen, refers to the initial challenge faced by networked products when they launch. These products need users to provide value, but attracting these users without an existing network or basis to work from can be difficult. To overcome this problem, products must primarily attract the 'hard side' of a given network. This could be sellers on a marketplace, content creators on a video platform, or attractive women in the case of Tinder. For example, Tinder launched on the University of Southern California campus and leveraged popular friends to promote the app at parties, leading to its initial user base.
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When a networked product launches, it faces a chicken-and-egg problem: people need to use it for it to be worth anything. So how do you start the very...
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Chen also distinguishes between the easy and hard sides of a given network. To solve the Cold Start Problem, products must, above all else, attract the hard side—sellers on a marketplace, content creators on a video platform, or in the case of Tinder, attractive women. Tinder launched on the University of Southern California campus. The founders leveraged their popular friends to promote the app at parties. Students had to download Tinder to allow party access. The next day, hundreds of hungover, like-minded students had a second chance at love via Tinder.
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