Understanding the game you're playing is crucial; selling to startups can be beneficial if you aim to grow with them, but it can be detrimental if your goal is to sell to large companies.

Your startup's unfair advantage is essential for attracting investors. It should explain why your company will grow faster than competitors, and it must be related to growth potential.

In the early stages, focus on clearly defining the problem you're solving and your vision, as this narrative is vital for both investors and your team.

Solving a hard problem and making it your core competency is crucial for success in business.

Understanding the essence of your business is crucial for survival, especially in a fast-moving technology industry.

As a venture capitalist, I often qualify deals as being a 'feature', a 'product', or a 'company'. It's crucial to identify which one you have and how to evolve it into what you want to achieve.

The third task is to create a defensible business model, ensuring that if you win, you can stay the winner in your market.

When pitching to investors, it's important to focus on the potential for significant growth rather than hedging against failure; confidence in your vision is key.

Focusing on the right problems is crucial for startup success, and it's important to identify what truly matters for your business.