You want to think about what is the path for my first 10 or 15 employees going to be as the company grows.

AirBnB happened because Brian Chesky couldn't pay his rent, but did have some space.

You can win with the best product, the best price, or the best experience.

One thing I tell startups all the time is that the best way to grow is to make their product better.

Even though plans themselves are worthless, the exercise of planning is very valuable and totally missing in most startups today.

There are 3 things I look for when I hire people. Are they smart? Do they get things done? Do I want to spend a lot of time around them?

In general though, if you look at the track record of pivots, they don't become big companies.