A Quote by Sam Altman
Momentum and growth are the lifeblood of startups. This is probably in the top three secrets of executing well.
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Startups are companies that are still in the process of searching for a business model. Ventures that are further along and executing their business models are no longer startups; they are early-stage companies.
For the three decades after WWII, incomes grew at about 3 percent a year for people up and down the income ladder, but since then most income growth has occurred among the top quintile. And among that group, most of the income growth has occurred among the top 5 percent. The pattern repeats itself all the way up. Most of the growth among the top 5 percent has been among the top 1 percent, and most of the growth among that group has been among the top one-tenth of one percent.
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.
One of the great drivers of the alienation that has made Donald Trump possible is that the growth in the American economy has been weak. In the decade from 2005 to 2015, there was not one year when the US hit three per cent growth. And to the extent there's been growth, virtually all of it has been collected by the top 10 per cent of the population. Obviously, if we knew how to make growth faster, we would. We don't. And it's very difficult to make growth more broadly shared. Because it's not just the US that has this problem.
India is one of the youngest startup nations in the world, and so far, various technology startups have witnessed phenomenal growth. It's amazing how these startups are thriving solely based on domestic demands. It speaks volumes about India's economy and its rich talent pool.
Startups are the engines of exponential growth, manifesting the power of innovation. Several big companies today are startups of yesterday. They were born with a spirit of enterprise and adventure kept alive due to hardwork and perseverance and today have become shining beacons of innovation.
When you look at a company that's already succeeded or is at the very top of its game, it isn't necessarily when it's executing well. It tends to be peacetime - you've defeated the competition, you have the highest margins, the highest multiple.
There are many more secrets in the world that are waiting to be found. The question of how many secrets exist in our world is roughly equivalent to how many startups people should start.
The momentum of my creative life and intellectual growth is still the momentum of breaking out of fundamentalism. Because of that, I'm very grateful for it. But I'm also grateful that at the center of it was something that I still believe to be true - those fundamentals of faith.
Let me remind you that credit is the lifeblood of business, the lifeblood of prices and jobs.
I don't sleep. All night long I'm wide awake, thinking, Secrets, secrets, secrets. There are secrets in my past no one needs to know. Secrets in my present that might kill Kim and Chip. I don't want to take my secrets with me when I go. When I pass through the light, i want to be free of everything and everyone.
Secrets have power. And that power diminishes when they are shared, so they are best kept and kept well. Sharing secrets, real secrets, important ones, with even one other person, will change them. Writing them down is worse, because who can tell how many eyes might see them inscribed on paper, no matter how careful you might be with it. So it's really best to keep your secrets when you have them, for their own good, as well as yours.
I've never been in the top three of Sports Personality. And I won't be in the top three again. You have just got to accept what it is.
Secrets have power, and that power diminishes when they are shared, so they are best kept and kept well. Sharing secrets, real secrets, important ones, with even one other person, will change them.
If one has good faith, you can unlock the secrets of scripture, and in unlocking the secrets of scripture, you have access to everything God wants you to have. Ministers of megachurches become examples of the truth of that claim, because they're well paid, living in wonderful homes, driving very nice cars, dressed well. They are doing well, so if you do this, you too can have success.
When high-growth companies slow down, growth and momentum junkies often sell indiscriminately, which can create great opportunities for value investors. Just be careful not to anchor on the stock's previous price or earnings multiple, which are no longer relevant.
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