Execution gets divided into two key questions: 1) can you figure out what to do and 2) can you get it done.

Losing focus is another way that founders get off track.

The most common post YC failure case for the companies we fund, is they're incredibly focussed during YC on their company... and after they start doing a lot of other things. They advise companies, they go to conferences, whatever.

Facebook has this famous poster that says move fast and break things. But at the same time they manage to be obsessed with quality.

Be suspicious of any work that is not building product or getting customers. It's easy to get sucked into an infrastructure rewrite death spiral.

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

The role of the board is advice and consent. If the CEO does not lay out a clear strategy and tries to get the board to set one, it will usually end in disaster.