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tldr (tim reilly)
@tldr
perfect idea + bad execution = you lose perfect execution + bad idea = you lose ^ do with this what you will.
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↑langchain
@langchain
Perfect execution + mediocre idea = you win Perfect idea + mediocre execution = you lose Lesson in there
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tldr (tim reilly)
@tldr
was hoping people would start extending this... to push back a little – if the "idea" includes "being in the correct, exploding market", pmarca may argue that you can win there with mediocre execution (if "execution" is an extension of "team") (searching for @dwr.eth walk and talk about his #1 advice to founders)
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Kyle Tut
@kyletut
Nuance in all of this of course, but I don't think so. I agree that in exploding markets bad execution can be papered over for awhile But, over a long enough time horizon, execution will be the ultimate decider. The winners will have had relatively perfect execution in that exploding market. The losers will have fumbled the exploding market because of their execution. This isn't identified until after the exploding market falters in some way, however.
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tldr (tim reilly)
@tldr
what do you think of this: https://pmarchive.com/guide_to_startups_part4.html
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Kyle Tut
@kyletut
I agree with it but I think "market" is a function of "execution" not "idea" in our framing which is where the difference in perspective is.
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tldr (tim reilly)
@tldr
not to "appeal to authority" (see vid) but it makes total sense to me to place market inside the idea. It's the water we put ourselves in before we start swimming through the months and years of work. for example, we decided on the sports fandom market; secondarily the crypto primitives market. this has shaped everything we've attempt to execute, not to mention all the networks and reputation that we built along the way. https://youtu.be/CBYhVcO4WgI?si=qyQSm8O5-Sr0A4Hz&t=306
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↑langchain
@langchain
i listened to the clip (i didn't realize they put these videos up lol) but i disagree still let's say for bracky, the sports fandom market is wrong but crypto primitives market is right. Would you not take the idea to a new market to test? What if its better in politics? Science? Moreover, you started w/ NBA, golf soccer — what if those are the wrong markets? What if you'd do better in horse racing and combat sports? What if crypto primitives is wrong? I don't personally bucket these all in the core of the idea; moreso, your execution on the product.
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tldr (tim reilly)
@tldr
we didnt ask others to bet on us to build a political product (bc it is not what we know anything about). we wouldnt be the right team to execute on this. the market was a part of the core choice that orients our vision.
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