By The Time That Product Is Ready

Entrepreneurship Is Not Really Building A Product, It's Not Having An Idea, It's Not Being In The Right Place At The Right Time. It's Fundamentally Company Building.

Except In Very Narrow Cases, Where There's Breakthrough Science That Needs Patent Production, Worrying About Competitors Is A Waste Of Time. If You Can't Out Iterate Someone Who Is Trying To Copy You, You're Toast Anyway.

Progress In Manufacturing Is Measured By The Production Of High Quality Goods. The Unit Of Progress For Lean Startups Is Validated Learning-a Rigorous Method For Demonstrating Progress When One Is Embedded In The Soil Of Extreme Uncertainty.

At Imvu, We Opened Up Our Board Meetings To The Whole Company.

Entrepreneurs Always Pitch Their Idea As 'the X Of Y,' So This Is Going To Be 'the Microsoft Of Food.' And Yet Disruptive Innovations Usually Don't Have That Character. Most Of The Time, If Something Seems Like A Good Idea, It Probably Isn't.