Startup Advice

Reaching the frontier of a field, you will stumble upon something that hasn’t been solved yet, which will make all the difference. Society will reward you for offering something it wants but hasn’t been able to obtain so far.

The way to that point is through trial and error, iterating, and uncovering different truths.

I’ve come to learn through first-hand experience that monopolies often serve as the ideal competitor to take on. There are four main reasons why:

1. Monopolies have already proven the industry is viable and lucrative


2. Monopolies refuse to cannibalize their own dominance


3. Monopolies have institutionalized their inefficiencies


4. Monopolies have the most to

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1. The 7 sources of power:
   
   
   1. Brand: Your unique brand identity attracts and retains a significant number of customers.
   
   
   2. Process power: You can produce something more efficiently than competitors, and the competitors can’t easily copy the method.
   
   
   3. Cornered resource: You have exclusive access to a vital resource, such as the only rights to a patent.
   
   

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When you’re anxious, there is no quicker relief than checking things. Checking your Substack subscriber stats, refreshing your inbox and order confirmations.

Scott Belsky coined the term insecurity work to describe work that does not move the ball forward, but is quick enough that you can do it multiple times a day without realizing.

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Fantastic startup advice from Marc Andreessen 15 years ago. https://t.co/slnUkIGB5j