The grim reality is that most start-ups fail. Most new products are not successful. Yet the story of perseverance, creative genius, and hard work persists.

Every startup has a chance to change the world, by bringing not just a new product, but an entirely new institution into existence.

A pivot is a change in strategy without a change in vision.

If you don't know who your customer is, you don't know what quality is.

Entrepreneurs always pitch their idea as 'the X of Y,' so this is going to be 'the Microsoft of food.' And yet disruptive innovations usually don't have that character. Most of the time, if something seems like a good idea, it probably isn't.

At IMVU, the cost of customer acquisition through our five-dollar-a-day AdWords campaign was less than twenty-five cents. Our revenue from those same customers was more than a dollar.

The goal of every startup experiment is to discover how to build a sustainable business around that vision.