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

Products a start-up builds are really experiments…Learning about how to build a sustainable business is the outcome of those experiments [which follow] a three-step process: Build, measure, learn.” “[A startup is] … an organization dedicated to creating something new under conditions of extreme uncertainty.

When blame inevitably arises, the most senior people in the room should repeat this mantra: if a mistake happens, shame on us for making it so easy to make that mistake.

If you cannot fail, you cannot learn.

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

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.

A Start Up is an institution designed to thrive in the soil of extreme uncertainty