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Amazing podcast episode on frameworks for evaluating startup ideas with Mike Maples, Jr (Founding Partner at Floodgate, ex-Product at Silicon Graphics) on Lenny's Podcast. 🎧 Here are some fun takeaways: 📈 Pivoting to Success: ● 85% of the successes in Mike's portfolio come from startups that had a fundamental pivot in their journey. This highlights that our initial validation is only a minor chapter in a venture's lifecycle. 🔍 Breakout Concepts: ● Startups need to be radically different from incumbents to succeed. ● Inflections are external changes that promote radical change. Incremental improvements, like Moore’s Law, are not inflections. AI itself isn't an inflection, but some models, like LLMs, are. 💡 Earned Insight: ● Startups need to be both non-consensus and right. ● Insights allow startups to escape comparison traps with incumbents. ● "Live in the future & build what’s missing." 👥 Founder/Future Fit: ● Founders need to be obsessed with the future of the problem. ● Sometimes, a team lacking experience is better suited for the future, seeing new possibilities. Other times, seasoned expertise and a proven track record are crucial for building customer trust. ● Greatness hinges on how authentically a team aligns with the future they aim to create.

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