Garry Tan

Garry Tan quotes on focus

Founder Initialized. PM/designer/eng turned Forbes Midas List Top 100 VC in startups worth over $40B, before product-market fit.

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1

Why is every startup a 10 year overnight success? 80% of new businesses fail in the first 5 years. Another 80% fail in the next 5 years. If you can last 10 years your business is in the top 4% of cos that are still kicking. If you start, be ready to commit for 10 years.

2

When there is a lot of competition you have basically one tool: specialization Pick off a smaller set of customers and solve their problems completely and in a deeper way. Focus on one city or locality and drive network effects. Then expand. Do what the competition won’t.

3

Beware work that feels good but has no tangible result.

4

Do a few things really well. Apple spends $2B in R&D on a product line that could fit on top of one normal sized desk.

5

Founders need to be convinced of a thing themselves before they can possibly convince others. People join rocket ships, not question marks.

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