Recognize that success in ventures is overwhelmingly (98%) driven by the quality and capabilities of the people involved, more so than the initial idea.
Develop extreme tenacity and resilience, as almost all ventures will face moments of near-failure, and your ability to overcome adversity is crucial.
Thoroughly think through all possible scenarios, adaptations, dead ends, and opportunities for your product or business idea, anticipating how the world might respond to changes.
Prioritize long-term planning and thinking in your endeavors, as it is beneficial for industries, countries, and the world.
Seek optionality in investments or projects, focusing on scenarios where people or ideas could be disproportionately rewarded, rather than trying to predict an unpredictable future.
Ensure that you (as a founder) are uniquely suited, through deep technical or domain expertise, to address the specific market you’re entering.
Prioritize developing deep technical expertise, as it is generally easier to learn business skills on the job than to acquire technical skills later.
Use years of experience and deep expertise within a specific industry to identify outdated practices and generate innovative ideas for improvement.
Develop the ability to adapt and pivot your approach when initial hypotheses about the product or market prove wrong, as this is a hallmark of successful entrepreneurs.
Structure compensation and operations so that your success is directly tied to the success of those you support, rather than short-term gains or fees.
Understand and accept that high-impact success often comes with a high failure rate; focus on the magnitude of wins rather than just the frequency of success.
Avoid entering the startup world solely for quick money or trendiness, as success requires a deep appreciation for the inherent difficulty and sustained effort.
Curate your social media feeds (e.g., Twitter) with a carefully selected list of experts to leverage them as a primary tool for filtering information and identifying important content.
Actively engage with diverse groups of experts, academics, open-source communities, and industry events to stay in the flow of new ideas and developments.
Explore and develop applications for virtual reality beyond gaming, recognizing its potential to become a predominant way people interact with computers and each other, impacting communication, health, and tourism.
When developing AI or automated systems, recognize that achieving the final 10-20% of accuracy is exponentially harder and requires significantly more effort than reaching initial functional levels.
Recognize industries like food and healthcare as ‘backwards’ sectors ripe for innovation, particularly in researching and developing healthier, more accessible options.
Explore investment and innovation opportunities at the intersection of healthcare and computer science, as this area holds significant potential to address systemic inefficiencies and rising costs.
Be mindful of excessive sugar consumption, viewing it as a significant health concern comparable to smoking, and anticipate a future where current dietary practices are seen as alarming.
Prioritize reading physical books over digital screens to minimize distractions and enhance the reading experience, especially if you find digital devices too tempting for multitasking.
Read ‘Gödel, Escher, Bach’ by Douglas Hofstadter to broaden your horizons and explore the connections between computers, philosophy, and music.
Explore works by authors like Daniel Dennett and Oliver Sacks to delve into topics like consciousness and the human mind.
Read ‘Sapiens: A Brief History of Humankind’ for a panoramic ‘big history’ view of homo sapiens, as it is highly recommended and insightful.
Read ‘The Three-Body Problem,’ a science fiction novel by a Chinese author, which recently won the Hugo award.
Read ‘The Martian,’ a popular book that has been adapted into a movie.
Read the biography of Elon Musk to gain insights into his life and work.