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Okay that’s great, but does it prove out in life? It does in my own. All the money I’ve ever made can be traced back to three different ideas I had. One in 2011, one in 2014, and one in 2016. Once I had the idea, it didn’t actually take much work for it to start raining money.
Execution on new ideas that avoid competition is way easier than execution in a competitive old space. So maybe that saying is wrong. Success is more inspiration than perspiration.
I met with Don Valentine once as a young pup. He told he (paraphrased): “I invest in opportunities more than teams. You can put the best team in the world up against a crappy market. You’ll get a crappy result. But put that team in a great opportunity, you get magic.”
I’ve always believed the opposite with the idea that the best teams knew when to switch markets but perhaps the best teams are too stubborn for that?
Can you expand on these? Certainly your current toy biz is not one of them?
This is going to be underwhelming, so sorry in advance for that: 1. We launched a bunch of products that were completely new to the United States and paired them with good branding. 2. Toy biz is. Every good business starts out as novel. The idea was "factory to Amazon".
The body is a temple. Perspiration is the framework that supports your capacity for moments of insightful inspiration.
Agreed.
I was kinda 50/50 on Thiel’s view here - plenty of people become successful reexecuting current ideas in a more efficient way / different angle. Are you able to expand on your own examples you refer to?
Really? What are some examples besides moving operations to lower cost countries?https://twitter.com/Molson_Hart/status/1258054826400907264 …
Persperation might work if you can can do something better, faster, cheaper, etc. But it's got to be good on several levels. Just one improvement is incremental and quickly copied. New ideas in underserved markets are the home runs.
Hmmmm.
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