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GT

Garry Tan

04/22/20

@ Garry Tan

Founders fail when they don't try enough things, often getting stuck doing the same thing repeatedly without abandoning proven false hypotheses.

Video

GT

Timebox your way to startup product market fit

@ Garry Tan

Timebox your way to startup product market fit

04/22/20

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Many founders work on the wrong thing before discovering the right one, often internalizing a fear of failure.

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Founders often lose hope when they feel like they're failing, which can lead to giving up too soon.

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Startups often fail because they pursue markets that have been tried many times before without understanding why they failed previously.

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The most successful founders often have a high batting average, meaning they try many ideas and learn from failures without being precious about them.

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Many founders believe their company will succeed, but those whose companies don't often iterate tirelessly until they find success, becoming unsung heroes.

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Elizabeth Iorns

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Biotech founders often make the mistake of not conducting the essential experiments needed to validate their ideas, fearing that failure could jeopardize their startups.

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It's crucial for founders to understand the 'idea maze'—the history of what has been tried before them—to avoid repeating past mistakes.

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Founders may avoid researching their ideas because they fear that learning about past failures will dampen their enthusiasm for their own projects.