perseverance

Bilingual

Luck is a harsh mistress
2 months ago
- Luck is unreliable and often leads to exhaustion if pursued as the primary path to success.
- Determination is a more sustainable strategy than luck, offering deep rewards even without excitement.
- The 'muck' of life's hardships cannot be overcome by luck alone; determination and faith are necessary.
- Skill can develop over time through persistent determination, leading to long-term success.
- Even with determination, challenges and disappointment recur, requiring continued perseverance.
- Personal experience shows that faith, family, and determination help navigate the darkest times.
How Not to Die
2 months ago
- About half of startups fail, but if you avoid dying, you can get rich.
- Startups often die silently; a key warning sign is when founders stop communicating with Y Combinator.
- Regular contact with YC and other founders creates deadlines and peer pressure that keep you working.
- The main cause of startup death is demoralization, not running out of money or losing a founder.
- Startups rarely die in mid-keystroke; keep working and iterating even when things feel hopeless.
- Launching something that fails to gain traction is normal; tweak your product until you find a core of users who love it.
- Do not take on other activities like grad school or side projects—distraction is fatal.
- Fear of public humiliation can be a powerful motivator to keep going.
- Success often comes from not giving up, even when disasters strike.
The Airbnbs
2 months ago
- Airbnb founders were exceptionally earnest and energetic, taking notes and implementing ideas immediately.
- Despite being on the verge of failure with maxed-out credit cards, they persisted because they believed in the value of their concept.
- They discovered a new way for hosts to earn money and guests to travel, which was better than hotels in many ways.
- During Y Combinator, they focused on ramen profitability of $4000/month, achieved by concentrating on the hottest market: New York City.
- They personally visited hosts in New York, took professional photos, and learned hosts needed the money during the recession.
- Their growth started in early 2009, leading to ramen profitability by February, with a commitment to keep pushing forward.

perseverance

Luck is a harsh mistress

How Not to Die

The Airbnbs