ABSTRACT
The new idea may be based on pre-existing technology or products. Netflix began as a DVD subscription and postal service. The new tech at the time was DVDs, but the new idea was to use the funding model used for gym membership and a delivery mechanism of posting DVDs to customers, rather than expect them to trek out to your store to choose and return movies. The Oxford Dictionary describes an entrepreneur as someone who sets up a business or businesses, taking on financial risks in the hope of profit. The Cambridge Dictionary similarly defines the entrepreneur as someone who starts their own business, especially when this involves seeing a new opportunity. BuzzFeed took the concept of cross-platform publishing but, instead of building lots of platforms or content "verticals" to carry their content, as traditional news companies were doing, the BuzzFeed model concentrates on pushing its stories out across social platforms built by others.
