• Ideas: it's the core concept, he used to think it was everything.
• Team: execution, adaptability, ability to get punched in the face by customers.
• Business Model: having a clear path to generating customer revenues.
• Funding: receiving intense amount of funding.
• Timing: is it way too early? Does the world need to get educated? Is the world ready for it? Is the right timing? Is it too late? Are there too many competitors?

After analyzing 100 IdeaLab companies and 100 Non IdeaLab companies which succeeded and failed he concluded:

• Timing accounted for 42% of the difference between success and failure.
• Team/Execution in 32%.
• Idea "Truth" Outlier in 28%.
• Business Model in 24%.
• Funding in 14%.

Airbnb f.e. was passed on by many smart investors because they thought: "No one's going to rent out a space in their home to a stranger."

This company came out right during the height of the recession when people really needed extra money.

That compensated the rejection to host strangers in exchange of a necessary money hence why it succeeded.

Other examples of right timing can be Uber & YouTube.