Investors often overlook the potential of existing large markets, thinking they are too crowded, but if you can create a significantly better product, there's room for many winners.

The size of new markets is often underestimated; LinkedIn and Twitter were initially dismissed as features but became significant companies.

Scaling your startup before achieving product-market fit can be dangerous; it's better to spend as little as possible while figuring out what your product should be. If you have product market fit, customers will actively seek your product, and even a basic version can solve a significant problem for them.

If you're solving a real problem in a large market, there's likely a lot of latent demand, which can lead to fast initial growth for your startup.

The tech choices you make early on matter less if you can build a product that gains traction; successful companies often adapt their technology as they grow.

Successful companies often start with small markets and expand over time; going after a large market from the beginning usually indicates a lack of proper market definition.

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.

When evaluating new technologies, it's important to consider their long-term viability rather than just their initial hype.

We learned that using traditional VC thinking to gauge market size can be misleading; instead, we focused on user needs and market trends.