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166: Daniel Vassallo — Building a Portfolio of Small Bets
The Bootstrapped Founder
Validating a Business Like a Poker Hand
Attempting to validate a business is akin to trying to validate a poker hand, as both have inherent uncertainties and complexities. The speaker regrets investing a large sum in a business that only generates minimal revenue annually and emphasizes the need to avoid such mistakes. They highlight the fallacy of assuming that a business is validated based on initial positive signs like user engagement and enthusiasm. Instead, they argue that the business landscape is intricate, with numerous unpredictable variables at play. The speaker stresses the importance of being critical in one's thinking and avoiding the misconception that a business can be definitively validated.
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