10x and good enough

A startup, and for that matter all organisations, have limited resources. To get customers to adopt a new behavior or a new product you need to be a lot better on a few things (let’s say 10x). To achieve that requires an intense focus. This means there is limited time to do everything else, so it should be done but not more (let’s call it good enough).

A startup should try to do some things 10x better and most things just good enough. Figuring out which areas needs to be 10x:d and doing them really well is very difficult.

(This was inspired by a lunch discussion with Stockholm-based entrepreneur.)

Four ways to build a monopoly in technology

Peter Thiel on four ways to “build a monopoly“:

  • Super fast distribution on a very thin product (e.g. Twitter)
  • A technological advantage that is continually built upon: you come up with something new and steadily improve (e.g. enterprise SaaS software)
  • A truly brilliant breakthrough (e.g. Bitcoin)
  • Complex coordination—where you take a lot of little pieces and coordinate them into something new

Breakit on the Stockholm startup ecosystem

Breakit has made a list of 55 individuals that they believe are key players in the Stockholm startup ecosystem (Swedish, paywall). It’s a good initial sketch, but doesn’t give the complete picture as Stockholm is a large ecosystem and there’s a bunch of helpful people that are not really in the media.

But the fact that Alliance VC’s analyst Robin Wänlund made the list is good journalism.