A Quote by David Cohen
Quality and a great product matters, in startups, and in accelerators.
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A great product will survive all abuse. Google Glass is a great product. How do I know? Every person I put it on (I did it dozens of times at 500 Startups yesterday) smiles. No other product has done that since the iPod.
One thing matters more than anything else for a dating product, and that is the quantity and quality of the people who use the product. It's really freaking hard to get critical mass.
Before product/market fit, your only job that matters is to build a great product.
Startups have finite time and resources to find product/market fit before they run out of money. Therefore startups trade off certainty for speed, adopting 'good enough decision making' and iterating and pivoting as they fail, learn, and discover their business model.
It can't be that difficult to build a great thermostat. So I decided to figure out: What would the thermostat for the iPhone generation look like? I got this bug. It really infected my brain. I kept thinking about it. This could be a cool product that matters and a cool product that has a great business.
Speed is one of the great curses of modern civilization, obsession with speed leads to quantitative approach; we come to believe that more is better. This is very materialistic, we have to realize that it is the quality of life, quality of relationships, quality of food, medicine, education and everything else which matters.
Quality in a product or service is not what the supplier puts in. It is what the customer gets out and is willing to pay for. A product is not quality because it is hard to make and costs a lot of money, as manufacturers typically believe. This is incompetence. Customers pay only for what is of use to them and gives them value. Nothing else constitutes quality.
Great product trumps all. You can have the biggest marketing budget, the biggest show, a perfect merchandising plan, but at the end of the day, it doesn't mean anything if the design and quality of the product you are offering is not compelling.
Companies that acquire startups for their intellectual property, teams, or product lines are acquiring startups that are searching for a business model. If they acquire later stage companies who already have users/customers and/or a predictable revenue stream, they are acquiring companies that are executing.
My interest in matters more directly concerned with the handling of particles was growing, in the meantime, stimulated by many contacts with people understanding accelerators.
I think co-working spaces, incubators, and accelerators outside of the Bay Area do a lot to foster a local startup scene - which is really important for early founders, but I also think that exposure to the Bay Area is extremely valuable for startups.
I think the rise of A.I. is bigger than the rise of mobile. Large companies are sometimes as worried about startups as startups are about large companies. Ultimately, it will be about who delivers the best service or product.
The biggest misconception people have is that quality is all that matters. The truth is that quality helps, but there’s a ton of high-quality things that don’t go anywhere.
The biggest misconception people have is that quality is all that matters. The truth is that quality helps, but there's a ton of high-quality things that don't go anywhere.
We never pull down the quality of the product, and I think that pays in the long term. People come up to me and say, 'I'm still wearing a Missoni sweater from 30 years ago, and it still looks great.' So quality, specificity and passion.
We're going to create a portable handheld environment, and you should expect the same things you've always expected from Playstation - a great quality product, versatility, great value to the consumer.
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