if the fires at your start-up are burning money but not touching the customer, and if you’re able to afford the waste, you might be able to literally… - Reid Hoffman

Years later, Steve Blank and Eric Ries would dub this a “minimum viable product” (MVP). For LinkedIn, the MVP included a user’s professional profile, the ability to connect to other users, a search function to find other users, and a mechanism for sending messages to friends.

Peter doesn’t believe in beating the competition, he believes in escaping it altogether — either by entering an emerging field with no natural competitors or by moving so quickly and decisively that competitors have no hope of catching up.

entrepreneurs don’t think what they’re doing is crazy — though other people do, because it’s threatening to the status quo.