Leadership requires creating conditions that enable employees to do the kinds of experimentation that entrepreneurship requires.

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

The way forward is to learn to see every startup in any industry as a grand experiment.

The mistake isn't releasing something bad. The mistake is to launch it and get PR people involved. You don't want people to start amping up expectations for an early version of your product. The best entrepreneurship happens in low-stakes environments where no one is paying attention, like Mark Zuckerberg's dorm room at Harvard.

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.

The goal of every startup experiment is to discover how to build a sustainable business around that vision.

Lean thinking defines value as providing benefit to the customer; anything else is waste.