Entrepreneur Struggle Quotes

We love being mentally strong, but we hate situations that allow us to put our mental strength to good use.

Any entrepreneur who wants to stay sane needs to let go of the silly notion that challenges are scary. Challenges never stop coming, so you’d better learn to love them and thrive on them. Every struggle is an opportunity to grow and improve.

Valuing freedom above all else; entrepreneurs work harder to create future freedom, which directly takes away from their freedom in the present.

What of all the entrepreneurs that fail? Well, many do, particularly the successful ones; often several times. And if you ask them the secret of their success, they’ll tell you it’s all that they learned in their struggles along the way; yes, it’s what they learned from failing.

As a mutant form of capitalism, neoliberalism transforms workers into entrepreneurs. It is not communist revolution that is now abolishing the allo-exploited working class - instead, neoliberalism is in the course of doing so. Today, everyone is an auto-exploiting labourer in his or her own enterprise. People are now master and slave in one. Even class struggle has transformed into an inner struggle against oneself.

While other entrepreneurs struggled to develop a worldview, he developed a cosmic view.

one of our greatest struggles is the fear of being wrong, making mistakes, and failing.

Struggle is not a bad word.  Accomplishment is impossible without it.

Often what we struggle with becomes the foundation of our greatest success.

I'm slowly learning how to straddle the tension that comes with understanding I am tough and tender, brave and afraid, strong and struggling - all of these things, all of the time. I'm working on letting go of having to be one or the other and embracing the wholeness of wholeheartedness. The roles in my life - partner, mother, teacher, researcher, leader, entrepreneur - all require me to bring my whole self to the table. We can't be "all in" if only parts of us show up. If we're not living, loving, parenting, or leading with our whole, integrated hearts, we're doing it halfheartedly.

Most of us still struggle to realize that our potential in serving God in the workplace is not determined by how sacred or well-suited the work environment becomes to our faith, but rather how well our faith in God becomes integrated into what we do at work.

Don't be the person who misses out on opportunities in life because you take too long to accomplish your work tasks. Be the kind of person other people marvel at. Be the kind of person other people see and say, "I don't know how they do it." Be the kind of person who takes action and does so immediately.

As an entrepreneur, here are a few things that are easy to document: Why did we want to work on this project? How did we get our first beta testers? How did we get our first customers? Why did we decide to work on that specific project? What do we want to accomplish in the next X years? What struggles did we face working in the X industry? What are our learnings after X months of being entrepreneurs?

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The Struggle is when you wonder why you started the company in the first place. The Struggle is when people ask you why you don’t quit and you don’t know the answer. The Struggle is when your employees think you are lying and you think they may be right. The Struggle is when food loses its taste. The Struggle is when you don’t believe you should be CEO of your company. The Struggle is when you know that you are in over your head and you know that you cannot be replaced. The Struggle is when everybody thinks you are an idiot, but nobody will fire you. The Struggle is where self-doubt becomes self-hatred. The Struggle is when you are having a conversation with someone and you can’t hear a word that they are saying because all you can hear is The Struggle. The Struggle is when you want the pain to stop. The Struggle is unhappiness. The Struggle is when you go on vacation to feel better and you feel worse. The Struggle is when you are surrounded by people and you are all alone. The Struggle has no mercy. The Struggle is the land of broken promises and crushed dreams. The Struggle is a cold sweat. The Struggle is where your guts boil so much that you feel like you are going to spit blood. The Struggle is not failure, but it causes failure. Especially if you are weak. Always if you are weak. Most people are not strong enough. Every great entrepreneur from Steve Jobs to Mark Zuckerberg went through The Struggle and struggle they did, so you are not alone. But that does not mean that you will make it. You may not make it. That is why it is The Struggle. The Struggle is where greatness comes from.

The essence of the neo-classical argument is that competition for productive factors — land, labour and capital — forces entrepreneurs to pay an amount equal to the value that the marginal (last employed) unit of each factor creates. Given a particular technological state and relative factor supplies (scarcities), then competition ensures that each factor 'gets what it creates', that 'exploitation of a factor cannot occur.' It is then a short step to infer that the distributive shares of rent, wages, interest, etc., are socially just fair shares. The political implication is that there is no point in, or call for, class struggle, and that government intervention should be confined largely to ensuring that perfect competition prevails. In the lexicons of many Marxist writers, this qualifies as 'vulgar political economy' with a vengeance.

Ohio hadn’t gone through the same real estate boom as the Sun Belt, but the vultures had circled the carcasses of dying industrial towns––Dayton, Toledo, Mansfield, Youngstown, Akron––peddling home equity loans and refinancing. All the garbage that blew up in people’s faces the same way subprime mortgages had. A fleet of nouveau riche snake oil salesmen scoured the state, moving from minority hoods where widowed, churchgoing black ladies on fixed incomes made for easy marks to the white working-class enclaves and then the first-ring suburbs. The foreclosures began to crop up and then turn into fields of fast-moving weeds, reducing whole neighborhoods to abandoned husks or drug pens. Ameriquest, Countrywide, CitiFinancial––all those devious motherfuckers watching the state’s job losses, plant closings, its struggles, its heartache, and figuring out a way to make a buck on people’s desperation. Every city or town in the state had big gangrenous swaths that looked like New Canaan, the same cancer-patient-looking strip mall geography with brightly lit outposts hawking variations on usurious consumer credit. Those entrepreneurs saw the state breaking down like Bill’s truck, and they moved in, looking to sell the last working parts for scrap.

Those who govern on behalf of the rich have an incentive to persuade us we are alone in our struggle for survival, and that any attempts to solve our problems collectively – through trade unions, protest movements or even the mutual obligations of society – are illegitimate or even immoral. The strategy of political leaders such as Thatcher and Reagan was to atomize and rule. Neoliberalism leads us to believe that relying on others is a sign of weakness, that we all are, or should be, ‘self-made’ men and women. But even the briefest glance at social outcomes shows that this cannot possibly be true. If wealth were the inevitable result of hard work and enterprise, every woman in Africa would be a millionaire. The claims that the ultra-rich make for themselves – that they are possessed of unique intelligence or creativity or drive – are examples of the ‘self-attribution fallacy’.10 This means crediting yourself with outcomes for which you were not responsible. The same applies to the belief in personal failure that assails all too many at the bottom of the economic hierarchy today. From birth, this system of belief has been drummed into our heads: by government propaganda, by the billionaire media, through our educational system, by the boastful claims of the oligarchs and entrepreneurs we’re induced to worship. The doctrine has religious, quasi-Calvinist qualities: in the Kingdom of the Invisible Hand, the deserving and the undeserving are revealed through the grace bestowed upon them by the god of money. Any policy or protest that seeks to disrupt the formation of a ‘natural order’ of rich and poor is an unwarranted stay upon the divine will of the market. In school we’re taught to compete and are rewarded accordingly, yet our great social and environmental predicaments demand the opposite – the skill we most urgently need to learn is cooperation. We are set apart, and we suffer for it. A series of scientific papers suggest that social pain is processed11 by the same neural circuits as physical pain.12 This might explain why, in many languages, it is hard to describe the impact of breaking social bonds without the terms we use to denote physical pain and injury: ‘I was stung by his words’; ‘It was a massive blow’; ‘I was cut to the quick’; ‘It broke my heart’; ‘I was mortified’. In both humans and other social mammals, social contact reduces physical pain.13 This is why we hug our children when they hurt themselves: affection is a powerful analgesic.14 Opioids relieve both physical agony and the distress of separation. Perhaps this explains the link between social isolation and drug addiction.

a young Goldman Sachs banker named Joseph Park was sitting in his apartment, frustrated at the effort required to get access to entertainment. Why should he trek all the way to Blockbuster to rent a movie? He should just be able to open a website, pick out a movie, and have it delivered to his door. Despite raising around $250 million, Kozmo, the company Park founded, went bankrupt in 2001. His biggest mistake was making a brash promise for one-hour delivery of virtually anything, and investing in building national operations to support growth that never happened. One study of over three thousand startups indicates that roughly three out of every four fail because of premature scaling—making investments that the market isn’t yet ready to support. Had Park proceeded more slowly, he might have noticed that with the current technology available, one-hour delivery was an impractical and low-margin business. There was, however, a tremendous demand for online movie rentals. Netflix was just then getting off the ground, and Kozmo might have been able to compete in the area of mail-order rentals and then online movie streaming. Later, he might have been able to capitalize on technological changes that made it possible for Instacart to build a logistics operation that made one-hour grocery delivery scalable and profitable. Since the market is more defined when settlers enter, they can focus on providing superior quality instead of deliberating about what to offer in the first place. “Wouldn’t you rather be second or third and see how the guy in first did, and then . . . improve it?” Malcolm Gladwell asked in an interview. “When ideas get really complicated, and when the world gets complicated, it’s foolish to think the person who’s first can work it all out,” Gladwell remarked. “Most good things, it takes a long time to figure them out.”* Second, there’s reason to believe that the kinds of people who choose to be late movers may be better suited to succeed. Risk seekers are drawn to being first, and they’re prone to making impulsive decisions. Meanwhile, more risk-averse entrepreneurs watch from the sidelines, waiting for the right opportunity and balancing their risk portfolios before entering. In a study of software startups, strategy researchers Elizabeth Pontikes and William Barnett find that when entrepreneurs rush to follow the crowd into hyped markets, their startups are less likely to survive and grow. When entrepreneurs wait for the market to cool down, they have higher odds of success: “Nonconformists . . . that buck the trend are most likely to stay in the market, receive funding, and ultimately go public.” Third, along with being less recklessly ambitious, settlers can improve upon competitors’ technology to make products better. When you’re the first to market, you have to make all the mistakes yourself. Meanwhile, settlers can watch and learn from your errors. “Moving first is a tactic, not a goal,” Peter Thiel writes in Zero to One; “being the first mover doesn’t do you any good if someone else comes along and unseats you.” Fourth, whereas pioneers tend to get stuck in their early offerings, settlers can observe market changes and shifting consumer tastes and adjust accordingly. In a study of the U.S. automobile industry over nearly a century, pioneers had lower survival rates because they struggled to establish legitimacy, developed routines that didn’t fit the market, and became obsolete as consumer needs clarified. Settlers also have the luxury of waiting for the market to be ready. When Warby Parker launched, e-commerce companies had been thriving for more than a decade, though other companies had tried selling glasses online with little success. “There’s no way it would have worked before,” Neil Blumenthal tells me. “We had to wait for Amazon, Zappos, and Blue Nile to get people comfortable buying products they typically wouldn’t order online.

Believe me, you will never achieve national reconciliation on the basis of the present parties. This reconciliation is what National Socialism seeks to achieve. Our national ideal is identical with our social ideal. We are National Socialists, that is to say what we understand by the word nation is not one class, nor one economic group; the nation is for us the collective term for all people who speak our language and possess our blood. We see no possibility for pride in the nation if there is a well-fed group of entrepreneurs and behind them the starving and exhausted working people of our nation. National pride is possible only if intellectual and manual laborers, well fed and with a decent standard of living, can live side by side in harmony. We want to build the foundation for a new view of the world (Weltanschauung) in which greatness attaches only to the person who sacrifices himself out of passionate devotion to his entire People. We are convinced that no one in the world will give us anything for nothing. No one else is furthering our cause, we alone must forge our own future. Within our nation lies the source of our entire strength. If our nation falls we shall all fall with it. We cannot prosper if our nation is destroyed. Our nation and our state shall prosper so that each individual in it can live. We are not pacifists, for we know that the father of all things is combat and struggle. We see that race is of supreme importance to the life of our nation as well as character, the basis of which must be responsibility toward our People. We are absolutely convinced that every decision requires responsibility. That is why we are at odds with the entire world, that is why we are considered subversive and why we are prohibited from speaking, and why we are silenced, because we want to restore the health of our entire German nation and to cure it from this cursed sickness of fragmentation. Speech in Schleiz, Thuringia - January 18, 1927

But employee ownership is not just about sharing. It is also, in practice, often about giving. Such schemes depend on someone, usually the proprietor, deciding at some point to transfer ownership of some or all of a company to its employees. And it is this aspect of the ideal, I think, that has the greatest significance for my story. Of all the things I have given, it is arguable that the shares in my company that I gave away had the greatest financial value. In fact, I have rarely thought of this transfer of ownership as a gift, and I would be wrong if I did. The staff had a right to share in the company. Without them, the company would not have been so prosperous (and I am certain that Xansa would never have reached anything like the financial heights it eventually did if it hadn’t been powered by the fuel of staff ownership). But while I never doubted that aspect of the transfer, I did sometimes struggle with a more abstract issue: the fact that transferring ownership also means, ultimately, transferring control. That was the real challenge: surrendering power. Anyone can adjust to having a bit less money; ceding control of an enterprise that really matters to you is, by contrast, painfully counterintuitive. Who in their right mind would entrust an organisation that they have built up against all the odds, through years of tears, toil and sweat, to someone else? What if they mess it up? What if they don’t really understand what it is that you have created? What if they take it in some dangerous new direction, or manage it in a less idealistic way? Yet without that surrender, the most important part of the transaction is lost. A feudal grandee can be as generous as he likes with his wealth and property, but as long as he remains the grandee then his dependants are not empowered: they are merely well-fed. Empowering them means letting go: in other words, ceasing to be the grandee. I have struggled all my life with an instinct to hang on to the things that matter most to me, to control and protect them myself. Yet the art of surrender is, I am convinced, a key to many kinds of success - and fulfilment. And many lives are limited by a failure to master it.

With every challenge comes hidden treasure of opportunity.

Life is tough, but you are tougher.

If you only think about products based on what’s hot right now, you’ll eventually be threatened by a mass of competitors, and that’s when profit margins get squeezed. Amazon can be the best place to get started selling products, but if you just look at what’s selling on Amazon and try to sell that, you’ll struggle to build a real business. Why? Well, if someone else sells the same product for $30, you have to sell yours for $28. Then the next person will price his or her product at $26. Now there’s a race to the bottom on profit margin.

This tendency is one of the reasons established companies struggle to find creative managers to foster innovation in the first place. Every new innovation competes for resources with established projects, and one of the scarcest resources is talent.

The Innovator’s Dilemma: they are very good at creating incremental improvements to existing products and serving existing customers, which Christensen called sustaining innovation, but struggle to create breakthrough new products—disruptive innovation—that can create new sustainable sources of growth.

Many serial entrepreneurs don’t struggle with coming up with ideas—they struggle with picking one and sticking with it. Even within a company, entrepreneurs often make the mistake of launching too many initiatives when, in reality, they should launch fewer and be more focused. It’s easy to want to jump on the bandwagon of whatever the new, shiny thing is, so sometimes the best thing you can do to cut through the noise is to ask yourself, “Which idea do I truly love?

To successfully scale, part of that strategic plan has to include transforming into a sales organization. Some startups do this really successfully in Start, as we’ve already discussed, and it’s important to lay a sales foundation as early as you can. But one thing is for certain: no matter where you are in your business, you’ll struggle to scale until you can transform into a sales-driven organization.

The Struggle is when you wonder why you started the company in the first place. The Struggle is when people ask you why you don’t quit and you don’t know the answer. The Struggle is when your employees think you are lying and you think they may be right. The Struggle is when food loses its taste. The Struggle is when you don’t believe you should be CEO of your company. The Struggle is when you know that you are in over your head and you know that you cannot be replaced. The Struggle is when everybody thinks you are an idiot, but nobody will fire you. The Struggle is where self-doubt becomes self-hatred. The Struggle is when you are having a conversation with someone and you can’t hear a word that they are saying because all you can hear is the Struggle. The Struggle is when you want the pain to stop. The Struggle is unhappiness. The Struggle is when you go on vacation to feel better and you feel worse. The Struggle is when you are surrounded by people and you are all alone. The Struggle has no mercy. The Struggle is the land of broken promises and crushed dreams. The Struggle is a cold sweat. The Struggle is where your guts boil so much that you feel like you are going to spit blood. The Struggle is not failure, but it causes failure. Especially if you are weak. Always if you are weak. Most people are not strong enough. Every great entrepreneur from Steve Jobs to Mark Zuckerberg went through the Struggle and struggle they did, so you are not alone. But that does not mean that you will make it. You may not make it. That is why it is the Struggle. The Struggle is where greatness comes from.

I’ve come face-to-face with these two questions countless times as a writer, an entrepreneur, a painter, a musician, and even a lawyer. On a more immediate level, the questions relate to the project you’re working on. If you’re a painter creating a collection of work, you may start to feel the questions arise as you explore whether a canvas or the collection is taking shape as you have envisioned it. On a more expansive level, the question emerges in the context of whether you should even be a painter or a writer, a coder, an entrepreneur, a CEO. I’ve seen actors struggle to build careers for decades, never coming close to earning enough to cover their bills. Yet they keep on keeping on, because their big break could be one audition away. And this is what they feel called to do. These are some of the most difficult and defining moments every creator faces. I’ve been told by legendary entrepreneurs, “If you have to ask, assume it’s resistance and soldier on.” They claim that you just know whether or not a project is meant to be. But I’ve witnessed countless people commit to perpetually unsuccessful projects or careers or, on the other side of the spectrum, come a breath away from what would’ve been breakthrough success had they just held on a bit longer. So I began to explore a more systematic process, a set of benchmarks, tests, and questions that might better guide these moments and help people decide whether to keep leaning into the journey, alter their course, or walk away and do something entirely different. We start by asking, “What was your inciting motivation?” What made you undertake this endeavor to begin with. Was it, in some form, the expression of a calling? Was it something to keep you busy? Was it about serving a group of people, solving a problem, or serving up a delight? Was it about money or doing anything you could to get your parents off your back and avoid grad school? Begin by going back to the time surrounding your decision to create whatever it is you’re creating and answer this question. Then move on to the next question. In light of the information and experiences you’ve had along the journey to date, does that original motive still hold true? Are you still equally or even more determined to make it happen? And given what you now know, do you believe you can make it happen?

Don’t do equal partnerships. Even with a board to act as a tie breaker, power struggles between partners seem to arise from the best of relationships and can do irreparable damage to companies.

the immigrants who secure rights thanks to the anti-racist anti-colonial struggle might be securing the right to free capitalist enterprise, refusing to see, refusing to ‘open your eyes’, as the angry black yelled at the post-colonial immigrant. This right to free enterprise is another way to capital accumulation powered by the post-colonial entrepreneur: it produces ‘unfree labour’ and racialized class relations in the name of challenging the colonial rule of difference […] There is a closet Ayn Randian class position underpinning the anti-racism of hyperbolic anti-colonialists – it is then not difficult to see that the non-modern, radical alterity upon which the anti-colonial is premised now stands for the capitalist universal.

Not every astronaut struggled postspace like Buzz Aldrin did. Several parlayed sideways rather than stopping their momentum. Earth orbiter John Glenn went into politics. Alan Shepard, America’s first man in space and the fifth to stand on the moon, became a successful businessman. Alan Bean, who moonwalked in the Apollo 12 mission, became a painter. And Apollo 15 spaceman James Irwin found fulfillment in helping others as a minister. Each parlayed his momentum into something that kept the wheels of life turning. Happy astronauts catch waves that lead to the moon, and then use the momentum to switch ladders to fulfilling careers on earth. Depression-avoidant entrepreneurs use levers to get massively rich, then parlay the momentum to build more things. But when Bear Vasquez tried to parlay his momentum for more, he got nowhere. What did he do wrong?

A Bombshell’s constant struggle is living up to her God given potential while also battling in her mind the difference between her expectations and the world’s expectations.

escalation of commitment to a losing course of action. Over the past four decades, extensive research led by Staw shows that once people make an initial investment of time, energy, or resources, when it goes sour, they’re at risk for increasing their investment. Gamblers in the hole believe that if they just play one more hand of poker, they’ll be able to recover their losses or even win big. Struggling entrepreneurs think that if they just give their start-ups a little more sweat, they can turn it around. When an investment doesn’t pay off, even if the expected value is negative, we invest more. Economists explain this behavior using a concept known as the “sunk cost fallacy”: when estimating the value of a future investment, we have trouble ignoring what we’ve already invested in the past.

When I talk about kindness in business, a few people scoff. They say, “Steve Jobs and the leaders at Apple created a pressure-cooker environment but it produced category-defining products that people love and obsess over.” That is the point — the results are not worth the cost, because there is an alternative. The goal of TRM is to create a kind, sustainable, and fulfilling experience for everyone. Caring and a sense of purpose evoke better performance than pressure and fear. The idea that only obsessive egomaniacs can produce breakthroughs is nonsense. People are the most important resource for any business, and people — whether they are employees, vendors, or customers — respond best to kindness, respect, humility, and empathy. You never know what other people are going through in their lives. Many of us are under great stress, especially when business cycles shift and economic pressures build. Others are struggling in relationships. When everyone feels valued and heard, they are more likely to show up fully and bring their best each day. Kindness is the alternative to the unnecessary “business is war” analogies that are not only tiresome but borderline offensive. It is the opposite of the “outcome justified the means” mentality that drives many entrepreneurs to consider sacrificing everything (including their morals) to build $100 million businesses in seven years. It’s success without the collateral damage. This aspect of TRM creates a healthy framework for daily interactions and long-term goals and helps people avoid burnout even when they put in heavy hours over long periods of time. We are all naturally optimistic, motivated to be better tomorrow than we are today. A kind organization understands that and leverages it. Your goal is to build a product that lasts, but to do that, you must also build an organization, a work environment, and a fabric of relationships that last too. People will remain engaged and focused on achievements when they are doing something meaningful that they care about in an organization that lets them live the way they want to live. “Caring and a sense of purpose evoke better performance than pressure and fear. The idea that only egomaniacs can produce breakthroughs is nonsense.

But the struggle made them more frugal and creative.

In the coming years, there will be a great struggle between entrepreneurs and innovators, on the one hand, who will attempt to keep Bitcoin free of regulatory control, and the banking industry and central banks, on the other, who will use their influence to promote Bitcoin regulations in order to prevent disruption of their industry and money-issuing powers.

escalation of commitment to a losing course of action. Over the past four decades, extensive research led by Staw shows that once people make an initial investment of time, energy, or resources, when it goes sour, they’re at risk for increasing their investment. Gamblers in the hole believe that if they just play one more hand of poker, they’ll be able to recover their losses or even win big. Struggling entrepreneurs think that if they just give their start-ups a little more sweat, they can turn it around. When an investment doesn’t pay off, even if the expected value is negative, we invest more.

Most people want to have great sex and an awesome relationship, but not everyone is willing to go through the tough conversations, the awkward silences, the hurt feelings, and the emotional psychodrama to get there. And so they settle. They settle and wonder, “What if?” for years and years, until the question morphs from “What if?” into “What else?” And when the lawyers go home and the alimony check is in the mail, they say, “What for?” If not for their lowered standards and expectations twenty years prior, then what for? Because happiness requires struggle. It grows from problems. Joy doesn’t just sprout out of the ground like daisies and rainbows. Real, serious, lifelong fulfillment and meaning have to be earned through the choosing and managing of our struggles. Whether you suffer from anxiety or loneliness or obsessive-compulsive disorder or a dickhead boss who ruins half of your waking hours every day, the solution lies in the acceptance and active engagement of that negative experience—not the avoidance of it, not the salvation from it. People want an amazing physique. But you don’t end up with one unless you legitimately appreciate the pain and physical stress that come with living inside a gym for hour upon hour, unless you love calculating and calibrating the food you eat, planning your life out in tiny plate–sized portions. People want to start their own business. But you don’t end up a successful entrepreneur unless you find a way to appreciate the risk, the uncertainty, the repeated failures, the insane hours devoted to something that may earn absolutely nothing. People want a partner, a spouse. But you don’t end up attracting someone amazing without appreciating the emotional turbulence

He [Steve Ross] said he used to have the same prejudices against the game as most Americans: It was too slow, too "foreign," too difficult to understand what was really going on. But once he started watching the game, and had some friends explain it to him, he realized how fascinating soccer could be. He believed that it just needed the right conditions to thrive. In other words, he saw soccer like an entrepreneur, which of course was exactly what he was, and an excellent one at that. He spotted an unmet need, an undervalued asset, and made it his personal mission to make it succeed, come hell or high water. After the Cosmos struggled through its first few seasons, switching stadiums every so often and failing to generate much buzz, Steve purchased the team from its original investors for the grand price of one dollar. And then, for no good reason other than his own passion and drive, Steve decided to throw the entire commercial and marketing weight of Warner Communications behind the team. He would not only make the Cosmos a winner, but bring a "new" spectator sport to the American public.

It turns out that these two responses are related: The time spent wrestling with the intense emotions engendered by a struggling startup—or avoiding these emotions—leads some entrepreneurs to delay shutting down longer than they should. They are Running on Empty—to the detriment of all concerned. The longer this goes on, the longer employees are wasting time on a lost cause, when they could be moving on to their next act. And the longer a founder hopes in vain that new investors or an attractive acquisition will save the day, the longer he is burning through capital that could be returned to investors.

To be clear, I have the utmost reverence for entrepreneurs. I’m an inveterate techie who worships at the altar of innovation. But I’d also watched too many start-ups struggle with growth and scale and getting the right things done. So I’d come to a philosophy, my mantra: Ideas are easy. Execution is everything.

SnapTax competes directly with one of Intuit’s flagship products: the fully featured TurboTax desktop software. Usually, companies like Intuit fall into the trap described in Clayton Christensten’s The Innovator’s Dilemma: they are very good at creating incremental improvements to existing products and serving existing customers, which Christensen called sustaining innovation, but struggle to create breakthrough new products—disruptive innovation—that can create new sustainable sources of growth.

Startups struggle to see their work-in-progress inventory. When factories have excess WIP, it literally piles up on the factory floor. Because most startup work is intangible, it’s not nearly as visible. For example, all the work that goes into designing the minimum viable product is—until the moment that product is shipped—just WIP inventory. Incomplete designs, not-yet-validated assumptions, and most business plans are WIP. Almost every Lean Startup technique we’ve discussed so far works its magic in two ways: by converting push methods to pull and reducing batch size. Both have the net effect of reducing WIP.

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If you’re struggling here (many do), some Economics 101 may help. There are only four different types of utility: place utility, form utility, time utility, and possession utility. What can you make easier to understand, faster to get, cheaper to buy, or more accessible to others? Place utility: Make something inaccessible accessible Form utility: Make something more valuable by rearranging existing parts Time utility: Make something slow go fast Possession utility: Remove a middleman

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This study is a classic case of what Staw calls escalation of commitment to a losing course of action. Over the past four decades, extensive research led by Staw shows that once people make an initial investment of time, energy, or resources, when it goes sour, they’re at risk for increasing their investment. Gamblers in the hole believe that if they just play one more hand of poker, they’ll be able to recover their losses or even win big. Struggling entrepreneurs think that if they just give their start-ups a little more sweat, they can turn it around. When an investment doesn’t pay off, even if the expected value is negative, we invest more.

The Struggle is not failure, but it causes failure. Especially if you are weak. Always if you are weak. Most people are not strong enough. Every great entrepreneur from Steve Jobs to Mark Zuckerberg went through the Struggle and struggle they did, so you are not alone. But that does not mean that you will make it. You may not make it. That is why it is the Struggle. The Struggle is where greatness comes from.

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LSC is also the answer I give to the most anguished question I often hear from entrepreneurs, or any champion of any kind of loonshot. The question usually comes up only late at night, after a few drinks, after a discussion of daily struggles winds down and the conversation turns existential, when the weariness from years of blows to the body seeps out. “How do I know when to give up?” How does one tell the difference between persistence and stubbornness? LSC, for me, is a signal.

The lonely entrepreneur will struggle all his long-life career to barely make it, but the one who belongs to a network of friends will uplift each other all the way to the top ladder of success

We respect the intense struggle of the entrepreneurial process and we know that without the entrepreneurs we have no business. When dealing with entrepreneurs, we always show up on time and we always get back to them timely and with substantive feedback, even if it’s bad news (like a rejection). We have an optimistic view of the future and believe that entrepreneurs, whether they succeed or fail, are working to help us achieve a better future. As a result, we never publicly criticize any entrepreneur or startup (doing so is a fireable offense).

Ocasio-Cortez calls herself a democratic socialist. What she seems to mean by the name is that we have in common the things we choose to share together, and these common things—good schools, good transport, public parks, good housing, and medical care for everyone—make a shared world. We should make them everyone’s. The name is also a way of claiming a long tradition of politics that asks not whether the world is good enough or getting better, but instead what is the gap between the world we have now and the better world that is within our power to make. It is a tradition that recognizes that economies do not just produce wealth: they produce human lives and relationships, which can be dignified or humiliating, mutual or exploitative, solidaristic or fragmenting, more frightening or safer. And economies, in turn, do not arise naturally, whether from the self-interest of “rational man” or from the disruptive imagination of entrepreneurs and the benignity of philanthropists. Political decisions give economies their shape, from labor laws and tax rates and public investments to questions of almost metaphysical significance. The journalist Kate Aronoff has observed that climate politics addresses the question of who will survive the twenty-first century. Environmental politics, like the politics of work and health care, answers in very concrete terms the ultimate question: What is the value of life? And whose life, which lives, will be valued? As I write, a hopeful, even heroic response to these questions is gathering under the heading of the Green New Deal. Maybe it will find another banner soon, or maybe it will succeed in transforming the meaning of the New Deal from the industrial, racially exclusionary, male-centered program of solidarity that it was to a truly universal reworking of its potential into a commonwealth of shared dignity and mutual care.

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