The expectation of immediate perfection often overshadows the reality of building something new, and criticism frequently precedes any tangible success.

Last year witnessed a multitude of investments and decisions within the technology sector. These ranged from formal venture capital funding to individual choices regarding location – weighing the prospects of San Francisco against emerging startup centers. Similarly, companies constantly evaluate whether to introduce novel features or refine existing ones, and individuals contemplate career moves, choosing between stability and new opportunities.

Despite this extensive activity, three specific ventures have captured significant attention and sparked considerable debate as the year concludes: a reimagining of the media landscape, a transformation of audio media, and a revitalization of a prominent American city.

Substack, Clubhouse, and Miami’s emergence as a tech center represent ambitious undertakings. They are all in their initial phases, meaning substantial development is still required to fully realize their potential. Each embodies a spirit of optimism: Substack aims to redefine journalism, Clubhouse seeks to innovate radio through interactive features and a distinct social experience, and Miami aspires to attract the talent and resources necessary to rival established tech hubs like San Francisco, New York, and Boston.

However, this optimism isn't universally shared within the tech community, as many observers highlight potential challenges and obstacles.

It would be ideal to attribute this skepticism solely to the uncertainty brought about by the pandemic and the constant stream of negative news this year. However, this cynicism has been growing for several years, even as startup funding and valuations have increased, and successful exits have become more frequent and substantial.

A sense of insecurity underlies much of this pessimistic analysis. This is particularly evident in the discourse surrounding Substack, which touches upon anxieties within both the technology and media industries. Concerns from those in tech often center on the perceived simplicity of the platform – the idea that anyone could have created a similar service at any time in the past decade.

In fact, Substack’s initial concept was straightforward, a characteristic it shares with many other successful consumer-focused startups. It essentially combines email functionality with a content management system and delivery service. A basic version could be developed relatively quickly by experienced engineers. Nevertheless, no one else brought Substack to fruition, and this fact fuels insecurity within the startup world.

From the perspective of the media industry, the past few years have been challenging for news organizations and publishers, leading to a naturally high level of cynicism. Much of the criticism directed at Substack questions why it hasn’t fully resolved the issues facing the industry in its relatively short existence.

Allowing these ventures time to develop is crucial. The mere possibility that a young startup could potentially reshape an entire industry is what makes Substack – and similar companies – so compelling. While Substack cannot immediately rehire tens of thousands of journalists, address inequalities in news coverage, or combat misinformation, its future potential, with continued growth and focus, is significant.

The demand for instant perfection is a notable trend in the startup world of 2020. There’s an expectation that a new company, often with a small team, should launch a flawless product that anticipates and resolves all potential issues. Perhaps these startups are gaining attention too early, and the perspectives of those who understand the iterative nature of product development are being overshadowed by those who don’t.

This dynamic is clearly visible with Clubhouse, a platform that has largely avoided significant controversy at TechCrunch. It represents a new form of social interaction, and its ultimate evolution remains uncertain – even for its founder, investors, and users. The recent live performance of “The Lion King” musical, involving thousands of participants, exemplifies the unpredictable nature of the platform.

Are there challenges with Substack and Clubhouse? Certainly. However, as emerging companies, they must explore their potential, identify compelling features, and discover their growth strategies. Problems are inevitable in any startup journey, with trust and safety being particularly important given the reliance on user-generated content. The critical question is whether these companies possess the leadership to address these challenges as they continue to build. The indication is that they do.

This brings us to Francis Suarez, the mayor of Miami, whose simple offer of assistance sparked a considerable debate among supporters of San Francisco and vocal skeptics.

Keith Rabois and other venture capitalists and founders are establishing a pathway from San Francisco to Miami, collaborating with the local industry to create something innovative and superior. This represents a belief in the potential for startups and technology to flourish outside of traditional hubs.

The skepticism surrounding Miami seems less justified now than it did a decade ago. While San Francisco, New York, and Boston remain dominant tech centers, cities like Salt Lake City, Seattle, Portland, Chicago, Austin, Denver, and Philadelphia are gaining prominence. Is it unreasonable to believe that Miami, a metropolitan area of 5.5 million people with a substantial regional economy, could also succeed? Perhaps the arrival of key venture capitalists is all that was needed to initiate this transformation.

Cynicism never fosters innovation. The phrase “You can’t do it!” has never been the foundation of a successful company, but rather a catalyst for those determined to prove otherwise.

Building takes time – time to develop an initial product, to nurture a startup ecosystem, and to create something sustainable. Ultimately, success requires extraordinary effort and collaboration from a dedicated team and community. The future is not predetermined, and investments can yield positive results. Therefore, instead of focusing on problems and flaws, we should ask ourselves what future we are striving to create and what ventures we are willing to support.