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Someone has to prove the market. Why would they care if you take all the risk of getting initial traction and they can just buy you for 30M-1B. As fast as facebook is they usually offered to by people out. if your not already on their road map you've got a long way to go before you have to worry about it.

http://mashable.com/2014/01/06/snapchat-facebook-acquisition...

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Agreed. Basically we could grow up upto a value of $3 billion, and then Facebook would show interest. Ok.

But I think this is true for products that are somewhat orthogonal to their base product and not in direct competition, like a radically new innovative full-blown social network could be.

What if mine was such a ground breaking idea?

What if, at stage 1 of funding, FB takes over the idea and improves with the same resources that I would only have at "stage 100" funding?

Oh and guys, please, I am just reasoning by making hypothesis, no need to remember me how hard is to build such a thing. :)

besides you have a much bigger problem building something enough users care about to be worth stealing.

Also, If your business has network effects it's hard to start from scratch and compete.

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