New Customers come from the action of past customers

The goal of a startup is to figure out the right thing to build-the thing customers want and will pay for-as quickly as possible. In other words, the Lean Startup is a new way of looking at the development of innovative new products that emphasizes fast iteration and customer insight, a huge vision, and great ambition, all at the same time.

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.

The big question of our time is not Can it be built? but Should it be built? This places us in an unusual historical moment: our future prosperity depends on the quality of our collective imaginations.

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

It doesn't matter if you call it a boom or a bubble. The startup business moves in cycles, and what goes up will eventually come down.