Did I even need to be here (during the last six months) given that all my work was thrown away?’ Why was it worth having done all this work in the first place?

‘Because you learned something.’ A learning experience is always the last excuse in the book. The more important question is ‘If your goal for the last six months was to learn something about your customers, why did it take six months?’

If you don’t know who your customer is, how do you build the project? Which customer should you sit down with next to the engineer or designer and tell them what to do? Entrepreneurs are working on products where nobody knows what the customer wants.

At best, you have a theory, a hypothesis, a plan.

We all know that when big companies buy startups, at least half the time, they die afterwards. So big companies buy something for hundreds of millions of dollars, and then wind up selling it years later for tens of millions of dollars. In general management, when you buy an asset, it depreciates in a predictable way. But when big companies buy startups, it doesn’t happen exactly like it’s supposed to.

If you can get the real story about what actually happened at the early stages of a company, you will find out that successful startups do no have better ideas than the failed ones. Contrary to what you see in the movies, most startup founders of successful companies had ludicrously bad ideas at the beginning.

Software companies can build anything they can imagine. The dominant question of our time is not can it be built, but should it. And the issue is can we build a sustainable business around a particular product?