Zero to One: Notes on Startups
reference
- Aim for 0 to 1 improvements
- The dot-com bubble made people cautious of innovation and big thinking
- Competition is usually bad for a business
- Monopolies exaggerate their competition, competitive businesses exaggerate themselves
- The value of a business today is the sum of all the money it will make in the future
- Characteristics-of-a-monopoly
- A business should always start with a very niche market
- People from 15th to 20th century believed that luck was to be mastered and dominated
- Definite and optimistic outlooks of life
- Diversification doesn’t work well in investing because great success follows a power law distribution
- Why do so many people today believe there are no secrets left to be discovered?
- Founding decisions and initial alignment in startups should be done very carefully
- Compensation in startups should align employee and company interests
- Create a strong culture by choosing people who work well together and love the company mission
- Why should the 20th employee join your company?
- Everyone underestimates sales because no one likes to be sold and sales tries hard to stay hidden
- You need a great distribution plan or your company will fail
- The seven questions every company must answer in order to succeed
- Great founders are usually extreme figures and odd people