If you pivot, do it fully and with conviction. The worst thing is to try to do a bit of the old and the new-it's hard to kill your babies.

Move fast. Speed is one of your main advantages over large companies.

You also really want to take the time to think about how the market is going to evolve.You need a market that's going to be big in 10 years.

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

If someone is getting every decision wrong, that's when you need to act, and at that point it'll be painfully aware to everyone.

Here's a good rule of thumb: don't worry about a competitor at all, until they're actually beating you with a real shipped product.

The best ideas often look terrible at the beginning the truly good ideas, don't seem like they're worth stealing.