Original visions are often wrong. Companies have to morph as they learn what customers don't want.

Unfortunately, they develop a fixed mindset that they're the most talented, and they think that continued success is a right. Problems arise because pure talent only works as long as the going is easy. Furthermore, they don't take risks because failure would harm their image of being the best, brightest, and most talented. When they do fail, they deny it or attribute it to anything but their shortcomings.

Try stuff. I also used to believe that it's better to be smart than lucky because if you're smart you can out-think the competition. I don't believe that anymore-this is not to say that you should strive for a high level of stupidity. My point is that luck is a big part of many successes, so (a) don't get too bummed out when you see a bozo succeed; and (b) luck favors the people who try stuff, not simply think and analyze. As the Chinese say, "One must wait for a long time with your mouth open before a Peking duck flies in your mouth."

Skillful pitching... is a necessary, but not sufficient, part of raising capital. More important are the realities of your organization: Are you building something meaningful, long lasting, and valuable to society?

Sales fixes everything.

It's just as valuable to curate content as it is to create it.

Doing, not learning to do, is the essence of entrepreneurship.