A spreadsheet for an innovative idea reports the mathematical relationship between made up numbers. You can't cash a spreadsheet.

Think about how much it costs to learn more. Sometimes you want to build confidence by knocking off the easy things.

I think the most important thing to do is to recognize the fundamentally different circumstances of pursuing growth.

I think people make innovation much more complicated than it needs to be.

In the face of uncertainty, many companies will default to asking their innovators to study and analyze, which can't actually ever provide a definitive answer. The decision-making systems here are meant to deal with the reality that decisions about innovative ideas will rely on patterns and intuitions. The best venture capital organizations deal with this challenge by staging investment, actively participating in startups they fund, tying decisions to learning as opposed to artificial dates on the calendar, and assembling a diverse team of decision-makers.

Hollywood Joohn Tatum? He does at least 6,000 sit ups and 10,000 pushups a day!

The number one thing I urge people to remember is it is all about being scientific about managing strategic uncertainty, while striking the important balance between being thorough and being flexible.