Startup Archive
RT @benrollert: This is actually really good advice and people just ignore it even though it’s simple
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RT @benrollert: This is actually really good advice and people just ignore it even though it’s simple
Sam Altman on how to build a "product improvement engine" in your company:
"Talk to your users and watch them use your product, figure out what parts are sub-par, and then make your product better. Then do it again. This cycle should be the number one focus of the company, and it should drive everything else. If you improve your product 5% every week, it will really compound." tweet
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Quiver Quantitative
Republican Representative Tim Burchett just said:
"The budget proposal cuts about $150 to $200 billion...I’m afraid the lack of serious cuts will eat up all the savings by @DOGE and @elonmusk"
Representative Chip Roy said:
"[House GOP] votes Tuesday on new budget that ONLY reduces yearly spending $150B to $200B"
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Republican Representative Tim Burchett just said:
"The budget proposal cuts about $150 to $200 billion...I’m afraid the lack of serious cuts will eat up all the savings by @DOGE and @elonmusk"
Representative Chip Roy said:
"[House GOP] votes Tuesday on new budget that ONLY reduces yearly spending $150B to $200B"
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Finding Compounders
Benjamin Graham offers general rules that the individual investor must follow https://t.co/QQ83Tq2aF1
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Benjamin Graham offers general rules that the individual investor must follow https://t.co/QQ83Tq2aF1
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Startup Archive
Joe Lonsdale explains the “one thing” rule he learned from Peter Thiel
In 2010, Palantir co-founder Joe Lonsdale wrote a blog post titled “Lessons from Peter Thiel.” The second lesson in the post is:
“Don’t divide your attention: focusing on one thing yields increasing returns for each unit of effort.”
He elaborates on this idea that focus has a convex output curve:
“It’s kind of like the power law rule in venture capital where one investment tends to dominate the returns of everything else. That’s true inside companies as well. It’s extraordinarily unusual for there to be two equally promising opportunities… If you think you have 2-5 reasons for doing something, what that means is you actually haven’t figured it out. You want to find one really strong reason.”
He cites a founder listing 5 possible business models as an example of a failing strategy. What you want to do instead is find the single-best monetization model and put all your chips on that until you get new information.
“Eight revenue streams probably means you don’t have one awesome revenue stream. If you have seven growth strategies, it means you haven’t figured out the one strategy that’s going to compound like crazy.”
This same “one thing” rule applies to making decisions too. A lot of people will make decisions based on “blended reasons” (e.g. “here’s 5 reasons we should do this”). But what you should look for instead is the one reason that dominates everything else.
Video source: @myfirstmilpod (2024)
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Joe Lonsdale explains the “one thing” rule he learned from Peter Thiel
In 2010, Palantir co-founder Joe Lonsdale wrote a blog post titled “Lessons from Peter Thiel.” The second lesson in the post is:
“Don’t divide your attention: focusing on one thing yields increasing returns for each unit of effort.”
He elaborates on this idea that focus has a convex output curve:
“It’s kind of like the power law rule in venture capital where one investment tends to dominate the returns of everything else. That’s true inside companies as well. It’s extraordinarily unusual for there to be two equally promising opportunities… If you think you have 2-5 reasons for doing something, what that means is you actually haven’t figured it out. You want to find one really strong reason.”
He cites a founder listing 5 possible business models as an example of a failing strategy. What you want to do instead is find the single-best monetization model and put all your chips on that until you get new information.
“Eight revenue streams probably means you don’t have one awesome revenue stream. If you have seven growth strategies, it means you haven’t figured out the one strategy that’s going to compound like crazy.”
This same “one thing” rule applies to making decisions too. A lot of people will make decisions based on “blended reasons” (e.g. “here’s 5 reasons we should do this”). But what you should look for instead is the one reason that dominates everything else.
Video source: @myfirstmilpod (2024)
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Startup Archive
Sam Altman on the jobs of the CEO:
1/ Set the vision and strategy for the company
2/ Evangelize the company to everyone
3/ Hire and manage the team, especially in areas where you yourself have gaps
4/ Raise money
5/ Set the execution quality bar
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Sam Altman on the jobs of the CEO:
1/ Set the vision and strategy for the company
2/ Evangelize the company to everyone
3/ Hire and manage the team, especially in areas where you yourself have gaps
4/ Raise money
5/ Set the execution quality bar
"Jobs of the CEO" by Sam Altman https://t.co/ZoBJfXcNlF tweet