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Brainstorming Ideas with The $200M Man
My First Million
Navigating Between Cash Flowing and Innovation Type Businesses
The speaker reflects on the decision between cash flowing businesses and innovation-driven businesses, leaning towards the latter due to big trends and building a sizable enterprise. They emphasize the significance of the 'Bezos number' concept for pursuing substantial business growth. However, the speaker acknowledges the challenges in achieving true innovation in the current business landscape, suggesting that most individuals should focus on refining existing product ideas for different customer segments instead of striving for a 10X innovation. They highlight the diminished defensibility of features in the market today and suggest that unless there is unique scientific breakthrough or regulatory protection, aiming for a two or three times better product might be more achievable than a revolutionary leap.
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