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I don't think that getting 1 million users is something to scoff at.

It demonstrates that 1M people think that the service is valuable. Deciding how to extract money from them is a first world problem.

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I could give our free hamburgers and get 1M users tomorrow.

Deciding how to extract money from them is not a "first world problem". It's the entire problem.

I agree with you -- who's scoffing? What I'm saying is that without the revenue model, the million users gets you something that's impressive, but not quite yet a business. And without it being a business, it's hard to see how to sustain that million user base. Isn't that the whole idea of the Underpants Gnomes? Yes, you can get the users, and yes you can get profit... but exactly how? Many times you can make it work if you can figure out Step 2, but if you don't have enough capital, you can't.

Underpants Gnomes ?!

http://en.wikipedia.org/wiki/Gnomes_(South_Park)

Thank you, I think this is one of those times you need to see the episode to understand.

I'll live :-)

check out the video on this page: http://onstartups.com/tabid/3339/bid/8608/Startup-Lessons-Fr...

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