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Mark began his journey with a strong emphasis on creating something they themselves would want and care about.
He stresses the importance of addressing problems you're passionate about and want to solve for the world before thinking about starting a company. The focus is on believing in the mission rather than starting with a company in mind.
For example, Facebook formalized itself as a company only after six months when it secured investments.
Building a company is likened to the scientific method. It's about testing hypotheses and making data-driven decisions to learn as quickly as possible.
To support this approach, they've developed a vast testing framework with tens of thousands of versions running. Engineers have the autonomy to experiment with ideas and gather performance data.
In a fast-evolving world, the greatest risk is not taking any risks. Profitability is important for a company, but the primary focus should remain on adapting to change and continuous learning - Peter Thiel
Generalist. Great minds discuss ideas, average minds discuss events, small minds discuss people.
These insights from Mark on building successful companies make for a great coffee companion.
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