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Reddit And How It Came To Be

Smruthi Kishore

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Reddit And How It Came To Be,Startup Stories,Startup News India,Best Motivational Stories,Inspirational Stories 2018,Reddit History,How Came to Reddit,Reddit Community,Reddit Founder,Most Generic Content Platforms,Reddit User Interface

For the uninitiated, Reddit looks like a mess filled with text links, comment threads, points, upvotes and downvotes. At best, the posts seem countless, large, unruly and totally random. To explain how Reddit works, think of the platform like your Universe: a single place where all your information can be collated onto a single and easily accessible platform.

If your  next question is what makes it different from Twitter, then it is the basic fact that unlike Twitter, the stream of content is curated by the Reddit community. Items of value are “upvoted” and those deemed unworthy are “downvoted.” This determines a post’s position on the site and items that hit the front page are seen by hundreds of thousands of people (consequently, sending boatloads of traffic to the linked website.) Reddit was founded back in June 2005, when co founders Steve Huffman and Alexis Ohanian decided to create something truly unique.

Huffman and Ohanian first began Reddit by creating various fake links and submitting content from those links. Before the days of social media dominance, 22 year old Ohanian wanted to accomplish a simple task: to unify people through original and quirky content. Started in a two bedroom apartment, the first version of Reddit went live on 23 June, 2005!

What attracted users to Reddit as a user interface was the simplicity of the platform. The more tools given to users, the more the platform took shape. The staple of Reddit, the up and down voting arrows that control the fate of story, were hand coded out of brute force simplicity and a dash of intuition. From being created as a very random platform, Reddit has grown to become one of the most widely used generic content platforms.

Started in the year 2005, Reddit was taken over by Conde Nast in 2006 for an estimated $ 20 million, receiving 500,000 daily unique views. With the growth being so quick and instantaneous, users spend 16 minutes on an average and is one of the most widely used sites by both men and women world over.

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Entrepreneur Stories

Vijay Mallya’s And Kingfisher’s Rise And Fall From Success

Smruthi Kishore

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Vijay Mallya, the self titled King of Good Times, saw nothing but wealth and opulence the moment he took over from Papa Mallya. When Junior Mallya inherited the Kingfisher empire at 28 years old, little did he know that the company was going to be valued at a whopping Rs. 350 crores (a heck of a lot of money at the time.) He had the throne, he had the money and he had the looks. All he needed now was to create a name for himself and voila! The business was set to take off like never before!

The creation of Kingfisher Airlines 

Kingfisher’s history dates all the way back to Papa Mallya’s life. Mirroring the principles of the Grinch, Papa Mallya counted his money down to every last paisa. When he passed away at the not so ripe age of 56, Mallya’s family business was an umbrella to a hoard of businesses that included industries like liquor, beer, pharmaceuticals, chemicals, paints and agriculture. When Junior Mallya took over the reigns, he took over very little from Papa Mallya (except for the money of course.)

Back then, Rs. 350 crores was almost equivalent to  three times its current value, leaving the young Mallya with money and no real spending direction. The man behind Kingfisher very soon realised the money lay with the distilleries and brewery business. His first step as CEO was as flamboyant as him: to change the colours of the Kingfisher logo from black and white to extravagant colours. Slowly moving towards the skies, Mallya started the Kingfisher Airlines and even acquired his very own cricket team (which Indian man worth his salt has never harboured that particular dream?)

The dream turns sour 

However, despite all his acquisitions, Junior Mallya slowly saw his dream turn into a horrible nightmare. Kingfisher Airlines was not doing as well as he wanted it to and people were starting to notice. For several years after its launch, Kingfisher Airlines continued to function normally, despite never breaking even or even earning profits. Despite the airlines never doing well, KFA received investment on a daily basis. Mallya’s endearing charm got him the much needed investors. Moving from one banker to another, Mallya ensured the valuation of KFA grew to a whopping Rs. 4,100 crores. While the bankers kept lending KFA money they did not really have means of paying back, Mallya’s debt kept rising with each day.

Trouble started brewing when the bankers finally opened their eyes to the problem KFA was slowly turning into. Months after its over the top launch, customers started complaining about the poor quality of the service. From the on ground staff to the crew on board, no one seemed to really care about the airlines they were working for. Management intervention was minimal, flight timings overlapped the competitors schedules, the frills overran the need, cost control was not enforced and maintenance repairs were excruciatingly high. All in all, Kingfisher Airlines (KFA) pushed itself toward a very obvious downfall.

When our very ignorant money lenders finally opened their eyes, KFA’s total debt was valued at a solid Rs. 9,041 crores! Looking back, people soon realised one of the major reasons for KFA’s downfall was glamour, the airline’s primary USP. Now living in debt, sin and poverty (according to the rich man anyway,) Mallya breeds the tale of every heir who squandered his father’s hard gotten wealth. Despite its quick fall to failure, KFA’s story was quite a cautionary tale, letting people know there was much more to success than just having access to money!

 

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Howard Schultz Founding Story

Smruthi Kishore

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Best Motivational Stories 2018, Founding Story of Starbucks CEO, Howard Schultz Biography, Howard Schultz Founding Story, Howard Schultz Story, Howard Schultz Success Story, Latest Startup News India, Starbucks CEO Howard Schultz, Starbucks First Coffee Cafe, startup stories

Born in the housing sector of Brooklyn, New York, Howard Schultz never dreamt of becoming the founder of one of the largest coffee chains in the world. Growing up, Schultz lived a life where people were used to being poor, with lack of money being a constant nagging issue! With three kids, the parents worked two jobs each to make ends meet, scraping their savings on a daily basis. This would have been Schultz’s life on a daily basis, if his father had not broken his foot. The day that happened was the day the family realized their income was reduced by half. With no savings in hand, Howard and his parents experienced poverty like never before.

The day he watched his father lie on the couch, with a cast and defeated completely, was the day Howard made the decision to change his life. At the age of 7, a young Schultz made the choice of taking his life into his hands. At school, he worked and played hard, a decision which helped him earn an athletic scholarship to Northern Michigan University. After graduation, his first job was working in the sales training program at Xerox, where he learned how to cold call ad pitch word processors. A few years down the line, he took a job at a housewares business owned by a Swedish company called Perstop! With the previous experience he had, Schultz grew quickly and became the Vice President of the company in a few months! Despite reaching success early in life, something seemed to be missing for Schultz.

A couple of months after being the Vice President, he realized the one thing lacking for him in this job was passion. Schultz first came across a Starbucks when he was walking around, looking for his dreams to come true. Back when Schultz came across the very first coffee shop, the franchise had only four stores in operation. When he met the then owners of Starbucks, Howard realized there was a lot of potential in these coffee shops. However, joining Starbucks meant moving across the country with a pay cut and for Howard that was a huge move to make. Schultz’s future and Starbuck’s future changed when the management sent him to Milan for an international housewares event.

When he saw the way espressos were served in Italy, Schutz realized the way the future of Starbucks could change was by serving coffee the Italian way! Balwin and Bowker, however, did not appreciate Schultz’s idea and said no to the proposal. Soon after, in the year 1985, Schultz opened his own coffee chain, II Giornale (Italian for daily.) Two years later, Schultz’s coffee chain did so well, they had enough money to take over Starbucks! In 1987, II Giornale went and did the impossible by buying over Starbucks. Schultz became the Chief Operating Officer and the rest, as they say, is history! With a valuation of over $ 80 million and 25,000 stores across 65 countries, Starbucks has definitely changed the way people drink coffee!

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Life Lessons From Jeff Bezos

Smruthi Kishore

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Life Lessons From Jeff Bezos,Best Motivational Stories 2018,Latest Startup News India,startup stories,Jeff Bezos Success Story,Amazon CEO Jeff Bezos Life Lessons,Jeff Bezos Business Lessons,Richest Man Jeff Bezos,Amazon CEO Success Story

Jeff Bezos is rich, wild, free and bald. When he drops his pearls of wisdom, we collect and store them like they are diamonds, right? The CEO of Amazon always has something unique to offer, with a touch of insanity to his brilliance. here is taking a look at some major takeaways from the amazingly successful life of this great man!

1. Try, but you just cannot get taller 

“If you take me on your basketball team, you can teach me many things, but you cannot teach me to be taller.” Why? Because you can learn new things but never change who you are meant to be!

2. Always have people around who can help you grow

“Life is too short to hang out with people who are not resourceful.” This line made an impact on me for reasons unknown. If you do not spend time with people who are not resourceful, by the end of the day you will find yourself filled with optimism and plenty of ideas for your own betterment.

3. Work through the regret 

Bezos works with a simple formula. He always thinks of himself at the age of 80 and wonders about what he could have done differently. The lesson here is to think of how the choices you make in life affect the rest of your future and what you can do to map your life the way you want. Pick a number, think backwards and make sure you have your goals set!

4. Earn your reputation by doing the tough things well 

A brand earns its reputation by doing even the hardest things well. Amazon lived by this policy from the very beginning and as a result, has become one of the most valued e commerce platfroms to date all over the world. Earn your reputation by trying to do hard things well and more often than not, you create a niche for yourself!

5. The customer is always the king

You know when they say the customer is always the king, it is a true statement. One of the major reasons Amazon is such a success today is that Bezos realised this fact early on. He built the entire platform to suit his customers and look at where he stands today! Quite an achievement, right?

Nothing in life is easy and nothing in life comes without its fair share of risks. Work toward them and make every moment count! Just like Jeff Bezos. If  you think we missed out on any lessons from this great man, comment and let us know!

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