Innovation is a bottoms-up, decentralized, and unpredictable thing, but that doesn’t mean it cannot be managed.

Except in very narrow cases, where there's breakthrough science that needs patent production, worrying about competitors is a waste of time. If you can't out iterate someone who is trying to copy you, you're toast anyway.

A startup is a human institution designed to deliver a new product or service under conditions of extreme uncertainty.

Start-ups make so many mistakes that the challenge to identify the root cause of a failure is tough. But believing in your own plan is probably the worst.

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.

At IMVU, we opened up our board meetings to the whole company.

Most companies are busy making their products worse, not better. Updating is almost always a disaster.