Hard part is when you can see value and no one else does. Is it a vision thing or are you truly wrong?
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You're probably wrong right now which is what matters for your business. Having a vision of the future where you'll create value doesn't pay bills. The hard part is being early enough to catch the wave but not too early that you don't have the funding to see the market arrive.
- Još 2 druga odgovora
Novi razgovor -
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How hard something is to build can increase the value by acting as a barrier to competition duplicating the effort. Just remember it's a multiplier and 0*hard is still 0.
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Sometimes you can only tell after you have worked hard enough on it
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This is also similar to what I think about how/why people underutilize resources - either you don't know it exists, or you do and don't see the value. Those are the 2 reasons, period.
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Corollary to your statement (which i agree with). From is from Steve Schwarzman (founder of blackstone)pic.twitter.com/9rtKuMvV9U
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Agree entirely that value driven by utility. Would argue that difficulty can be, at least in some cases, positively correlated with defensible moats.
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Not question on point 1 — knowing the difference between effort and utility is a must. On point 2 — what do you make of the now famous “toy” thesis? This implies the value may not be obvious at first, or in the least not apparent to most.https://cdixon.org/2010/01/03/the-next-big-thing-will-start-out-looking-like-a-toy …
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Some of the best lessons learned come from doing the exact opposite. Key is to learn them early and quickly.
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