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A batch of the best highlights from what Louis's read, .
Most startups lack a process for discovering their markets, locating their first customers, validating their assumptions, and growing their business.
The Four Steps to the Epiphany Success
Steven Gary Blank
But wealth had another advantage, too. Not only could it buy wives directly, it could also buy "power." It is noteworthy that it is hard to distinguish between wealth and power before the time of the Renaissance. Until then there was no such thing as an power economic sector independent of the power structure. A man's livelihood and his allegiance were owed to the same social superior. Power is, roughly speaking, the ability to call do your bidding, and that depended strictly on wealth (with a little help from violence).
The Red Queen
Matt Ridley
The power of planning explains the difficulty of valu ing private companies. When a big company makes an offer to acquire a successful startup, it almost always offers too much or too little: founders only sell when they have no more concrete visions for the company, in which case the ac quirer probably overpaid; definite founders with robust plans don't sell, which means the offer wasn't high enough.
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