Silicon Valley lessons on business ideas, 9GAG

Wealth


Ideas are a dime a dozen, or so they say; it’s all in the execution. However, there’s a big difference between an idea that’s capable of going the distance and one that, try as you might, is destined to fall flat.

So how can you tell if you’re onto a winner?

Well, according to the co-founder of viral website 9GAG, with so many would-be entrepreneurs out there chasing the next big trend, it’s all about moving against the tide and being contrarian.

“A good idea usually is not the idea that people love, because if it is that good, a lot of people will do it already,” CEO Ray Chan told CNBC’s Uptin Saiidi during an episode of “Life Hack’s Live” at the RISE tech conference in Hong Kong.

“So the best idea is probably a good idea that seems bad so that most people don’t agree and don’t do it,” he continued.

Ray Chan, whose Hong Kong-based social media site now boasts more than 100 million fans across Facebook and Instagram, said the ability to go against the status quo is one of his greatest takeaways from his time spent building the business with start-up accelerators in Silicon Valley.



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