The critical aspect of a monopoly is not just achieving it but maintaining it over time; being the last mover in a category is often more valuable than being the first.

In a startup, the only advantage you have is time, so you must move quickly to capitalize on your ideas before established competitors.

In chess, the first mover has a slight advantage, but the goal is to be the last mover who wins the game.

I emphasize the importance of moving quickly to avoid missing significant opportunities in the market, as the pace of innovation is accelerating.

It's essential to not only achieve a technological breakthrough but also to ensure that your innovation remains the last significant advancement for a long time.

Once you've found product market fit, scale aggressively to capture market opportunities before competitors do, as advantages always accrue to the number one player in a competitive market, allowing for faster product development and increased revenue.

Founders sometimes believe that just because a trend is popular, their startup will succeed in that space. They fail to recognize that entering a market at its peak can be detrimental, as they are competing against established players who have already gained significant advantages.

The first-mover advantage is mostly a myth; Warby Parker spent time figuring out how to make customers comfortable ordering glasses online, which was crucial for their success. To be original, you don't have to be first; you just have to be different and better.

Founders who move the fastest tend to create the most luck by maximizing their opportunities.