Pinterest provides entertainment, product discovery, and community.
Snapchat enabled a new type of communication by removing self consciousness.
Airbnb provides quality lodging at low prices.
Facebook provided authenticity, exclusivity, and increased information density through timeline.
Google provided far better search results.
This is kind of a non-statement. You could say that just about any internet based social network startup provides "community" and "entertainment" -- and yet many completely fail. This is quintessential grasping at straws and a posteriori reasoning.
> Snapchat enabled a new type of communication by removing self consciousness.
So did Yik Yak, so does IRC, so do anonymous forums, so does Kik. Again, this is kind of a ultra-general non-value value proposition. Why Snapchat got funded has nothing to do with the idea -- and everything to do with traction.
> Airbnb provides quality lodging at low prices.
So does hotels.com or (if you haggle a little) Craigslist.
> Facebook provided authenticity, exclusivity, and increased information density through timeline.
The timeline wasn't around when FB launched (back then we had the wall). I'm not even sure what "information density" means (or if it's even a good thing), it seems like 20-20 rear-view justification for FB's success. MySpace probably provided more authenticity, anyway (I could customize my page way more).
hotels.com doesn't work as well as airbnb for rural areas and even in cities, you don't get to see anything about how flats are set up in the local area. The idea of trying to book accommodation for an anniversary weekend seems utterly mad. How do you comb through results? How do you pay? How do you view the reputation of the place? How do you know there aren't going to be animal bones all over the walls?
Yes, you can ask all those things and go back-and-forth. Yes, you can set up a separate paypal payment, but all of that is time spent and additional worries.
Who are you to judge "wantapreneurs"? Of course, there is something such as "value"!
I'm going to contend that they are two fundamentally different things. Inventing the internal combustion engine and working at Honda on their 2019 model are two very different things.
Value is a misnomer. There's no inherent value in 90% of the stuff that blows up. What's the "value" in Facebook? It's even hard to see today, think about how hard it was to see in 2006.
"Value" is the same nonsense idea as "solving a problem" that startup wantapreneurs are so obsessed with -- what problem did Snapchat really solve? What problem did FB solve that Myspace didn't? What problem did Google solve that Yahoo didn't?
Sometimes it's just about being different (Pinterest), being controversial (Snapchat), being novel (AirBnB), and having fun (reddit). Sometimes it's about cleaning up UX (Facebook), or making things just a bit easier to find (Google). But above all, it's about the right place, right time, and right execution. Fortune favors the bold.