We talk to a team they've gotten new things done, that's the best predictor we have that a company will be successful.

You'll get more support on a hard, important, project than a derivative one.

It's better to have no cofounder than to have a bad cofounder, but it's still bad to be a solo founder.

Later, you should learn to hire fast and scale up the company, but in the early days the goal should be not to hire. Not to hire.

So it's worth some real up front time to think through the long term value and the defensibility of the business.

Wait to start a startup until you come up with an idea that you feel compelled to explore.

You have to save the vision speeches for when the company is winning. When you're not winning, you just have to get momentum back.