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Most startups that fail do it because they fail at one of these.A startup that does all three will probably succeed.And I got a message from someone named Reihan, R-E-I-H-A-N, who was just a message like—hey we’re homonyms! LISA: Based on the spelling, they thought their names were pronounced the same way. CHARLIE ROSE: Friendster has quickly grown to become one of the top 100 highest trafficked sites on the network, with more than 8 million users.REYHAN: And then I was like you know looked him up and we had lots of mutual friends then I googled him and he’s like like a political writer and I was like cool like my homonym is a political writer for Slate. LISA: The idea of an online social network was so new at this time that Friendster was able to patent it. “System, method and apparatus for connecting users in an online computer system based on their relationships within social networks.” REID HOFFMAN: Before even Myspace started, before Facebook started was oh yeah Friendster is the interesting social place…“Ten years of ethical practices, a commitment to privacy, and a guarantee that when we say you can find a relationship on your terms, we mean it. Well, startups need capital to start, but both venture capitalists and angel investors really prefer to fund companies which already have traction (i.e., sales). Anything still at the concept stage is perceived as being simply too risky by investors.And then we actually though stayed in touch and then became friends in real life. you should go check it out LISA: Reid Hoffman was an early investor in Friendster…

Simply meet them for coffee or something stronger after work to see if there's any chemistry.

REID: There was a bunch of kind of social discovery that Friendster was the first thing that had done that…and there was enormous interest in that….

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There were all these connections you could explore, and people started reaching out to each other on Friendster for all sorts of reasons. LISA: So What compelled you to reach out to Reyhan? ROBERT KRULWICH: We’ve all heard that everybody on earth is connected, but now there’s a website called Friendster.

REYHAN: At some point I got a message from somebody I didn’t know whose name my name is Reyhan and that’s spelled R-E-Y-H-A-N. Hold on I’m going to put you on speaker if that’s OK. REIHAN: So she was friends with a bunch of my friends but also she was friends with a lot of my cool friends. LISA: It was the hot new internet thing, the first site to really take off after the dot com bubble had burst.

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In the early 1990s, an associate at the technology consulting firm where I was working suggested that I compile them into a book.

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