PG Essays Why Smart People Have Bad Ideas
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Nov 3, 2023 The podcast delves into why smart people often come up with bad ideas, discussing the still life effect, ambivalence about business, and fear of competition. It also explores the importance of understanding what people want and emphasizes the need to solve valuable unsolved problems. The hosts use examples such as Firefox to highlight the success of creating something people want and encourage startups to prioritize product creation.
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Artics To VIA Web Pivot
- Paul Graham recounts starting Artics to put art galleries on the web and how it failed.
- He explains they pivoted to VIA Web to build software for online stores, which succeeded.
The Still Life Effect
- The biggest cause of bad ideas is the "still life effect": grabbing the first idea and committing to it.
- You must later re-evaluate investments of time and ask whether the idea will actually make money.
Do Work Customers Will Pay For
- People tend to choose work they find enjoyable, but enjoyable work often doesn't pay well due to supply.
- The startup's aim must be to make money first, and maybe be cool second.