These are my highlights from 3 Pillars of the Most Successful Tech Products
"Smart people tend to try to predict future markets by reading industry reports, designing models, and running numbers. However, with access to similar information, people tend to come to similar conclusions. That’s why being right isn’t enough."
"Paradoxically, if you are right and everyone agrees with you, competitors will see the opportunity too, enter the market, and eat away at your profits.
Therefore, when it comes to monetization over the long term, there’s only one way to achieve it: you’ve go to see a future market others don’t. Next, if you can spot the big untapped market on the horizon, you’ve got to, as Warren Buffett advises, protect it with “unbreachable ‘moats.’”"
When it comes to startup success, there’s never a magic bullet. Yet as the British statistician George Box once wrote, “All models are wrong, but some are useful.”
Perhaps the hardest part about running a new business is knowing what to prioritize. There are hundreds of decisions to make, and keeping sight of what’s important and what’s not is a constant challenge."