How to go from being a super hot company to lucky to get acquired in less than 24 months

I tell a lot of entrepreneurs who don’t have traction, I miss those times. Yes, it’s exciting to have traction, to have a company that has huge scale. But the biggest leaps you ever get are when you’re small. Another way of saying it is: Your product changes less the bigger you get because there’s more customers, more blowback, more systems, more

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 One thing I'm always on the lookout for with people. Are they moving quickly? Are they evolving quickly? In my view, at the end of the day, when you're betting on a founder, especially if the market's not super clear, what you're trying to do is, you're trying to predict that, that particular person will have as many shots on goal as possible

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Ironically, once a startup is successful, and you ask the founders what made it successful, they will usually cite all kinds of things that had nothing to do with it. People are terrible at understanding causation. But in almost every case, the cause was actually product/market fit.

The reality of startup life is that you're in a race to achieve product/market fit before you run out of money.