Vaibhav asked this difficult question on VentureWoods. When I speak to people, I often ask a slightly different one: “What is a startup about?“.
Anand came up with a very witty reply to Vaibhav’s question:
Startup is till the time you feel “up” when you “start”… v0.0, v1.0, v1.1… v2.0 (products/services) – thereafter, either you dont start (if you are fortunate enough to get invested, the investor “starts” and you implement!) or you dont feel “up” (read: was this what you (originally) wanted to “start”) [:)]