Every startup needs at least one miracle to succeed, as they often operate in non-obvious markets that require overcoming significant obstacles.

Magical thinking in startups refers to unrealistic expectations about success without a grounded plan, making it harder for founders to face reality. It is when you believe in unrealistic causes and effects, thinking that things not rooted in reality are true for you. For example, some founders think that if they pitch their startup to a prominent investor, they will instantly recognize its brilliance and offer support, which is a flawed mindset.

The internal belief, determination, and spirit of optimism within a startup's team are vital; they must be committed to overcoming challenges and finding solutions despite external skepticism, especially when facing difficulties.

The story of your startup must be interesting and believable, representing a large opportunity that investors can envision as successful.

Making a startup work is a miracle, and achieving product-market fit is a significant accomplishment that should be the primary focus, rather than spreading innovation too thin across multiple areas.

The threshold belief is the basic requirement for a startup to succeed, such as whether the founders can even build the product.

The belief is that as you reach a critical mass, more people will see it as viable to work for a startup, which can take time.

Every startup company is unlikely to work, and it's helpful to be in reality about that, but that doesn't mean you can't be optimistic.

Accepting setbacks and moving forward, believing that whatever happened is for the best, is a strong predictor of success among startups.