Ch. Raynaud - ISAI sur Twitter : "'@paulg, @ycombinator, about adversity and ... Be Nice Or Leave. A Dozen Things I’ve Learned From Marc Andreessen. Marc Andreessen is able to explain himself so well that I should have less commentary to add to the quotations in this post than usual.
But where is the fun in that? My primary task with this blog post has been assembling the quotations and placing them in an order which flows well, since understanding the earlier topics helps the reader understand ideas which come later in the list. Each set of quotations is a mash up from sources like the links identified in the notes at the bottom of this post. My transcription of video interviews may not be perfect and the text is sometimes edited to reflect the brevity required in a blog format. 1/ “The key characteristic of venture capital is that returns are a power-law distribution. Justin Mares. You’ve decided you want to do something in this world.
You’ve internalized the fact that you can do anything you want. How do you succeed? Let’s say your goal is to be a millionaire by age 30. What do you do? Focus on becoming the type of person that can become a millionaire at 30. Optimization hidden costs - Xkcd. Life lesson. Willful Delusion - Startups and the Stockdale Paradox – Correlated Causation. Rate-of-learning: the most valuable startup compensation. The frothiness of today’s environment in Silicon Valley makes it easy to get sucked into a warped sense of reality.
A DOZEN THINGS I’VE LEARNED ABOUT BUSINESS. Ruthlessness and Grit in Startups. Startups are in a state of perpetual change.
During a startup's first few years of establishing product market and winning the first set of customers, this state of change is obvious. But as a startup scales, the company must adapt by learning and reinventing. Whether it's building the processes to grow the team, creating new sales and marketing initiatives to pursue adjacent customers, developing customer success teams or handling an unforseen crisis, this process of reacting to the market and evolving the company happens at every level in each function.
How does a startup team steel itself to persevere through the ups and downs? The Sure Thing. How entrepreneurs really succeed.
In 1969, Ted Turner wanted to buy a television station. Fail Fail Win: Never Give Up. On a Mission. One of the interesting things I have seen, especially in the last 10 years, is that many of the big winners in technology have been what I call “mission-driven” versus “mercenary-driven” companies.
There are a lot of companies that cut corners. A Dozen Things I’ve Learned about Business from Bill Gates. 1.
“Business isn’t that complicated” and “Take sales, take costs, and try to get this big positive number at the bottom.” Many people make a living trying to make “business” sufficiently complex that you feel the need to pay for their services. Their business is to make business complex, when it is actually simple. 2. “Of my mental cycles, I devote maybe ten percent to business thinking.” and [John Malone] and I are damn similar. 3. The Two Key Skill Sets Startups Must Develop To Grow. In "Why Winning Streaks End", Rosabeth Kantar, a professor at HBS, explains the key to maintaining momentum in any company is maintaining the discipline of every day processes.
Similarly, Atul Gawande's book Better echoes this idea. Dustin Curtis. Despite being the cheapest usable tablet on the market, and although the Kindle is already one of its best selling items, Amazon cut the price of the Kindle Fire HD today from $199 to $169.
At that price, it’s almost impossible to imagine any profit at all; when it was released in late 2012, some speculated that the cost of materials and manufacturing alone amounted to more than $185. It’s easy to imagine the strategy here–that Amazon expects to make money on digital content sales–but, historically, the numbers behind that strategy haven’t panned out. With billions of dollars in content sales, Apple still claims to run the iTunes store at “practically break even.”
What makes Amazon think it can pull a profit when even Apple can’t? While trying to figure out what Jeff Bezos is thinking, I remembered something he told the New York Times in 2011: Startups Are Hard. So Work More, Cry Less, And Quit All The Whining. I slept at work again last night; two and a half hours curled up in a quilt underneath my desk, from 11am to 1:30pm or so.
That was when I woke up with a start, realizing that I was late for a meeting…But it was no big deal, we just had the meeting later. Willing to be misunderstood. Jeff Bezos appeared on Charlie rose two weeks ago and spoke about Amazon’s history, future and best of all, its culture. In the interview, Bezos discussed Amazon’s core values: We are willing to be misunderstoodWe are obsessed with customers, not competitors.We are long term thinkers While all of them are critical to Amazon’s success, my favorite is the first because it combines three critical concepts for startups. First, it requires knowing a secret, in the Peter Thiel sense of the word, seeing something in the market that very few others understand.
Second, it requires systems thinking, understanding where a new product fits into the market place and how to leverage a company’s assets to best deliver the product to customers. Third, it requires conviction, belief in the product and market even when others are deriding the notion and investors are pushing the company to achieve quarterly targets. Can-Do vs. Can’t-Do Culture. “God, body and mind, food for the soul When you feeding on hate, you empty, my n! *$a, it shows.” — Rick Ross “The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore, all progress depends on the unreasonable man.” – George Bernard Shaw Lately, it has become in vogue to write articles, comments and tweets about everything that’s wrong with young technology companies. Believers vs non-believers. Is it Time for You to Earn or to Learn?
This is part of my Startup Advice series I often have career discussions with entrepreneurs – both young and more mature – whether they should join company “X” or not. I usually pull the old trick of answering a question with a question. Are You A Pirate? I read blog posts by Don Dodge and Glenn Kelman today about people jumping from Google to Facebook and it got me thinking about entrepreneurs. Most people have an aversion to risk, my college economics professor told me. The credentials trap. I talk a lot to people who are deciding between startups and established companies. They’re usually early in their careers and have been exclusively affiliated with well-known schools and companies. Are you in a startup career path or are you one and done? Sometimes peoples' first startups are successful. Why I am long on French Tech Board Observers. Generalists. The Depressing Day After You Get TechCrunched.
Vinicius Vacanti is co-founder and CEO of Yipit. How Well Do You Take A Punch? Program Or Be Programmed. On Thursday night I gave a talk at NYU Poly and in the Q&A a young man asked me for advice for "those who aren't technical". Working smarter. The Harder I Work, The Luckier I Get. Ideas have a 2 week shelf life.
Occam's razor. Tenacity. The Wisest Entrepreneurs Know How to Preserve Equity. The Startup Curve. The Hardest Lessons for Startups to Learn. Why Do Harvard Kids Head to Wall Street? How I Graduated from Harvard, Turned Down Google, Got a Job On T. The VC And Startup Industries Must Do A Better Job Seeding A Sta. Risk and Reward Are Not Obvious. Startable - Healy Jones' & Pras. The Career Path to Becoming a Venture Capitalist or an Entrepren. The best companies are analytical. Gamers make faster decisions than nongamers, just as accurate. 'StarCraft' Gameplay Boosts Mental Flexibility, Says Study - Digits.
You need to use social services to understand them. Long Live the Web. Why Your Startup Should Be Involved in Open Source. Technology generation gap.