Nowadays people talk about PayPal's founders as prescient geniuses who would inevitably change the world. It was, however, not so obvious that PayPal would taste its first major success by helping people sell Beanie Babies on eBay. But they had a vision, a hope, and the perseverance to try multiple iterations until they got it right.

Using the Lean Startup approach, companies can create order not chaos by providing tools to test a vision continuously.

Most start-up companies fail and it is smart public policy to help entrepreneurs increase their odds of succeeding. But, the biggest loss to our economy is not all the start-ups that didn't make it: It's the ones that might have been created but weren't.

When Steve Jobs and Steve Wozniak created Apple computer in a garage in Palo Alto, it heralded the beginning of the PC revolution that ultimately dealt a death-blow to dozens of older companies.

Most phenomenal startup teams create businesses that ultimately fail. Why? They built something that nobody wanted.

All innovation begins with vision. It’s what happens next that is critical.

If you can’t out iterate someone who is trying to copy you, you’re toast anyway.