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

Meritocracy is a good thing. Whenever possibly, people should be judged based on their work and results, not superficial qualities.

There is no greater country on Earth for entrepreneurship than America. In every category, from the high-tech world of Silicon Valley, where I live, to University R&D labs, to countless Main Street small business owners, Americans are taking risks, embracing new ideas and - most importantly - creating jobs.

A solid process lays the foundation for a healthy culture, one where ideas are evaluated by merit and not by job title.

Learning is the essential unit of progress for startups.

In my first start-up, I had an initial advertising budget of $5 per day total. That would buy us 100 clicks per day. At $5 per day, marketing people scoffed and said that is too small to matter. But if you think about it, to an engineer, 100 real humans everyday giving your product a try means you can really start improving.

Entrepreneurs can't forecast accurately, because they are trying something fundamentally new. So they will often be laughably behind plan - and on the brink of success.