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Saturday, 19 February 2011

many distilled wisdom particularly one sentence, A VC: MBA Tuesday

A VC: MBA Tuesday:

Brilliant highlights .. I can see why Fred is like a rock star in the VC/startup world..

I particularly like:
- Ideas that most people derided as ridiculous have produced the best outcomes. Don't do the obvious thing.

gives me great power to push on..

"- There is a very high correlation between lean startup approach and the top performing companies in our two funds.

- Lean startup methology is great, but it is really a lean startup culture you want.

- Lean startup is a machine, garbage in will give you garbage out.

- Early in a startup, product decisions should be hunch driven. Later on, product decisions should be data driven.

- Hunches come from being a power user of the products in your category and from having a long standing obsession about the problem you are solving.

- Domain expertise to the point of obsession is highly correlated with the most successful entrepeneurs in our portfolio.

- Ideas that most people derided as ridiculous have produced the best outcomes. Don't do the obvious thing.

- Monetization should be native and improve the experience for users.

- If you have an idea that you can't get out of your head, do a startup. Otherwise join a startup.

- If you are not technical, get product experience. Get your hands dirty and work with engineers.

- Take risks when you get out of business school. If you don't take risks, you won't find yourself in an interesting job and career."

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