The biggest interesting tension at the early stage seems to me to be
- not lying to yourself (always a deadly thing in business)
- having conviction that there’s something in your current idea (which is terrible and thus requires lying to yourself)
Conversation
The biggest interesting tension during the mid stage seems to me to be
- focus (excellent execution comes from nothing else)
- making secondary bets (because shit happens and you don’t want everything in one basket)
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Sadly I never got to the late stage, where there seem to be more interesting capital allocation tensions. Ehhh … give me a decade.