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.

Good startups usually take 10 years.

To get the very best people- they have a lot of great options, and so it can easily take a year to recruit someone.

You're either not hiring at all or it's probably your single biggest block of time.

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.

The tenth social network, and limited only to college students with no money, also terrible. Myspace had won.

Stay focused and don't try to do too many things at once. Care about execution quality.