“Except in very narrow cases, where there's breakthrough science that needs patent production, worrying about competitors is a waste of time. If you can't out iterate someone who is trying to copy you, you're toast anyway.”
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Here in Silicon Valley, I have taken part in hundreds of conversations trying to convince people to dive in and become entrepreneurs. All too often, innovators with good, safe, jobs are unwilling to put their family's access to health care at risk by walking away from company-backed medical insurance.
Start-ups make so many mistakes that the challenge to identify the root cause of a failure is tough. But believing in your own plan is probably the worst.
The attributes for entrepreneurs cut both ways. You need the ability to ignore inconvenient facts and see the world as it should be and not as it is. This inspires people to take huge leaps of faith. But this blindness to facts can be a liability, too. The characteristics that help entrepreneurs succeed can also lead to their failure.
The United States is locked in a new arms race for that most precious resource - the future entrepreneurs upon whom economic growth depends. Substantial research shows that immigrants play a key role in American job creation.
