a day ago
- Startups compress a working life into a few years by working extremely hard on hard technical problems.
- Wealth is not money; it's the stuff people want. Money is just a medium of exchange.
- The pie fallacy is wrong: wealth can be created, not just redistributed.
- Startups succeed by combining measurement (small groups) and leverage (new technology).
- The catch is high risk: most startups fail, and payoff is all-or-nothing.
- Focus on users as the measure of success; getting acquired often depends on user numbers.
- Historical rule of law enabled wealth creation, leading to industrialization and global power.