The idea of opportunity cost is crucial for founders; it reminds them that choosing one path means forgoing another, which is essential in decision-making.

Opportunity cost is the value of the optimal option minus the value of the chosen option, and minimizing it leads to better prioritization.

In high leverage roles, focus on minimizing opportunity cost rather than just achieving positive ROI, as this leads to better long-term outcomes.

We encourage our team to invest in opportunities that show promise, even if they come with risks, as this can lead to significant breakthroughs. In venture capital, the key to success is identifying the next big thing early and investing heavily, rather than focusing on win rates or percentage returns.

Entrepreneurs are often seen as risk-takers, but it's crucial to make coherent bets on risks, as significant opportunities come with associated risks.

In a competitive environment, teams that are fully committed and not hedging their bets will always outperform those that are divided in focus.

Understanding comparative advantage helps founders decide when to hire others for tasks that are too costly for them to do themselves, which is a common challenge.

The main reason to pivot is opportunity cost; if you're working on something that's not working and you have evidence of it, you're missing out on the potential gains from pursuing other alternatives.

Time is not free; every decision we make has an opportunity cost. We need to be mindful of how we spend our time and ensure it aligns with our strategic goals.