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I wish I had asked myself when I was younger. My path was so tracked that in my 8th-grade yearbook, one of my friends predicted— accurately— that four years later I would enter Stanford as a sophomore. And after a conventionally successful undergraduate career, I enrolled at Stanford Law School, where I competed even harder for the standard badges of success. The highest prize in a law student’s world is unambiguous: out of tens of thousands of graduates each year, only a few dozen get a Supreme Court clerkship. After clerking on a federal appeals court for a year, I was invited to interview for clerkships with Justices Kennedy and Scalia. My meetings with the Justices went well. I was so close to winning this last competition. If only I got the clerkship, I thought, I would be set for life. But I didn’t. At the time, I was devastated. In 2004, after I had built and sold PayPal, I ran into an old friend from law school who had helped me prepare my failed clerkship applications. We hadn’t spoken in nearly a decade. His first question wasn’t “How are you doing?” or “Can you believe it’s been so long?” Instead, he grinned and asked: “So, Peter, aren’t you glad you didn’t get that clerkship?” With the benefit of hindsight, we both knew that winning that ultimate competition would have changed my life for the worse. Had I actually clerked on the Supreme Court, I probably would have spent my entire career taking depositions or drafting other people’s business deals instead of creating anything new. It’s hard to say how much would be different, but the opportunity costs were enormous. All Rhodes Scholars had a great future in their past. the best paths are new and untried. will this business still be around a decade from now? business is like chess. Grandmaster José Raúl Capablanca put it well: to succeed, “you must study the endgame before everything else. The few who knew what might be learned, Foolish enough to put their whole heart on show, And reveal their feelings to the crowd below, Mankind has always crucified and burned. Above all, don’t overestimate your own power as an individual. Founders are important not because they are the only ones whose work has value, but rather because a great founder can bring out the best work from everybody at his company. That we need individual founders in all their peculiarity does not mean that we are called to worship Ayn Randian “prime movers” who claim to be independent of everybody around them. In this respect, Rand was a merely half-great writer: her villains were real, but her heroes were fake. There is no Galt’s Gulch. There is no secession from society. To believe yourself invested with divine self-sufficiency is not the mark of a strong individual, but of a person who has mistaken the crowd’s worship—or jeering—for the truth. The single greatest danger for a founder is to become so certain of his own myth that he loses his mind. But an equally insidious danger for every business is to lose all sense of myth and mistake disenchantment for wisdom.
Peter Thiel (Zero to One: Notes on Startups, or How to Build the Future)
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Hikmat Singh
But the first-mover advantage is greatly overstated. In a watershed study, researchers compared the fates of “pioneer” companies that had been the first to exploit a market and “settlers” that had followed the pioneers into the market. Drawing on data from five hundred brands in fifty product categories, they found that almost half of pioneers failed, compared to 8 percent of settlers. The surviving pioneers took 10 percent of their market, on average, compared to 28 percent for settlers. Getting into the market early was indeed important—“early market leaders have much greater long-term success,” the researchers noted—but those “early” market leaders “enter an average of 13 years after pioneers.”7 The consensus of researchers today is that, yes, being first to market can confer advantages in certain specific circumstances, but it comes at the terrible cost of an inability to learn from the experience of others.
Bent Flyvbjerg (How Big Things Get Done: The Surprising Factors Behind Every Successful Project, from Home Renovations to Space Exploration)
The consensus of researchers today is that, yes, being first to market can confer advantages in certain specific circumstances, but it comes at the terrible cost of an inability to learn from the experience of others. Better to be—like Apple following Blackberry into smartphones—a “fast follower” and learn from the first mover.
Bent Flyvbjerg (How Big Things Get Done: The Surprising Factors Behind Every Successful Project, from Home Renovations to Space Exploration)
Best Cost Movers Palm Beach is a reliable moving and storage service provider.
Best Cost Movers
Relocating internationally can be a thrilling adventure, but it’s not without its challenges. The logistics involved in international moving are more complex than domestic moves, requiring careful planning and execution. To ensure a smooth transition to your new home, here are ten essential tips for international moving. 1. Start Early Begin the planning process well in advance. International moves involve extensive paperwork, visa applications, and scheduling with international moving companies. Start at least six months before your intended move date. 2. Declutter and Organize Before packing, declutter your belongings. Dispose of items you no longer need or use. This not only reduces the cost of moving but also helps you start fresh in your new home. 3. Research International Moving Companies Select a reputable international moving company with experience in your destination country. Read reviews, ask for referrals, and obtain quotes from multiple companies. Choose one that offers comprehensive services and competitive rates. 4. Understand Customs Regulations Familiarize yourself with the customs regulations of your destination country. Different countries have varying rules about what you can bring with you. Be prepared to fill out detailed customs forms. 5. Documentation Ensure all your important documents are in order. This includes passports, visas, medical records, and any necessary permits. Keep physical copies as well as digital backups. 6. Packing Strategy Use sturdy, high-quality packing materials to protect your belongings during transit. Label boxes clearly and create an inventory list. Pack essential items separately for easy access upon arrival. 7. Insurance Consider purchasing international moving insurance to protect your possessions during the move. Verify what is covered and ensure it meets your needs. 8. Currency and Banking Set up a bank account in your new country before you move. Also, consider having some local currency on hand for immediate expenses upon arrival. 9. Learn About Your New Home Research your destination thoroughly. Understand the local culture, language, and basic laws. Knowing what to expect can ease the transition. 10. Stay Organized Keep all your moving-related paperwork, receipts, and contact information in one place. This will be invaluable if any issues arise during your international move. Bonus Tip: Stay Positive! Moving internationally can be stressful, but maintaining a positive attitude can make a world of difference. Embrace the adventure and view it as an opportunity for personal growth and exploration. Conclusion International moving is a significant undertaking that requires careful planning and thorough research.
Transonmovers
first-mover advantages can be especially strong in new markets where customers face high switching costs. The first mover in a new product category has a chance to acquire first-time buyers before any rivals enter the market. But this advantage disappears once the second entrant arrives; then, the race is on.
Tom Eisenmann (Why Startups Fail: A New Roadmap for Entrepreneurial Success)
In the past, part of the problem was that this concept was applied to businesses that didn’t have any real network effects and very little sustainable advantage, even if they were to succeed. Pets.com and Kozmo.com are both examples from the dot-com era. But another problem with the emphasis on first-mover advantage is that it gives you the wrong ideas on how you should go about scaling a network. The growth-at-any-cost mind-set is a big reason why platforms that get initial traction often fail to reach scale. Both Friendster and Myspace got big fast. But they did so largely by ignoring the effect this growth had on the quality of their platforms.
Alex Moazed (Modern Monopolies: What It Takes to Dominate the 21st Century Economy)