You want an idea that turns into a monopoly. But you can't get a monopoly, in a big market right away; too much competition for that.

Great execution is at least 10 times more important and a 100 times harder than a good idea.

Mediocre founders spend a lot of time talking about grand plans, but they never quite make a decision.

Losing focus is another way that founders get off track.

You should always know how you're doing against your metrics. You should always have a weekly review meeting every week.

It takes years and years, usually a decade, to create a great startup.

If you have several ideas that all seem pretty good, work on the one that you think about, when you're not trying to think about work.