In this 45 second PAREable, learn more insights that Peter dispensed in this Launch Festival interview.
- The key to think about competition is to not compete at all. Aim to be a monopoly.
- We are too prone to think what’s valuable is what the other person is doing. Do think in terms of this better question: what can your company do that nobody else is going to do.
- Future is not fixed. The better way to think about future for entrepreneurs is, what is the future you want to build.
- Absolute rules are dangerous.
- There are good short cuts, but too many short cuts will go wrong.
- One of the things that led to Peter’s investment in fb at that time was intensity of usage and network effect.
- Sometimes investors over-value things they use and under-value things they don’t use.
- Learn how to identify what is core. iOS is core to Apple, Android is not core to Google.
- The best idea is contrarian and true. Intellectually true and business sense true.
- Three forms of innovation: continuous improvement, big breakthrough, and complex coordination (pulls various parts together in an innovative way).
- Three essentials for any great company: talented team that works well together with its internal dynamic, product or technology is based on a kernal of a really good idea, and good business strategy. If you have all three, most other details won’t matter.
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Don’t just take my words, watch this chat.
Until the next PAREable..