Sometimes, early pivots expose cracks. Other times, they’re the reason a company survives.

The difference is intent. Are you pivoting because you’ve learned something or because you’re afraid to keep going?
Knowing that answer gives you the clarity you need to move forward.

They weren’t thrashing. They were learning fast and implementing feedback. Those pivots kept them alive long enough to discover what actually worked. And today, that same team is growing faster than any of us imagined.

The lesson here is nuance.

At one point, I remember thinking, they’re going to spin themselves into the ground.

But every change they made came from something real. There was a failed pilot, a user interview that went sideways, and a metric that didn’t move as expected.

Some of the best outcomes I’ve seen came from teams that didn’t get it right the first time. A few years ago, I backed a team that couldn’t seem to find its footing. In their first six months, they changed their product, their customer, and even their pricing model three times.

Some of the best outcomes I’ve seen came from teams that didn’t get it right the first time.

A few years ago, I backed a team that couldn’t seem to find its footing. In their first six months, they changed their product, their customer, and even their pricing model three times.

Yes, growth required investment. But the mindset was never to chase scale with abandon.
Investors also bet on constraint, and if you can endure volatility.

If you’re building or raising, it’s worth asking whether you're planning for survival or the next check.

How I think about it:

• Sustainable growth = agency. If you’re not dependent on infusions, you control the timeline.

• Capital is leverage. Outside money should tilt risk, not keep the lights on.

• Scalable > big bets. Growth that costs more than it returns isn’t growth.

People assume WhatsApp scaled by burning VC money. In reality, we were cash-flow positive from Day 1.

I don’t share this to brag. I share it because the startup myth that “you can’t grow without burning” is still everywhere. And I’ve seen it sink good companies.

Robotics feels like the next layer. First tele-operated systems that extend reach, then true autonomy for routine failures without humans.

Speculative “sci-fi” robotics are what we often think of, but this is a very typical bottleneck with practical solutions available.

Data centers are where the AI magic happens. But operations inside them are still surprisingly analog.

If a server fails today, someone walks an aisle with a clipboard, locates the correct rack, swaps the part and continues moving. It works, but it doesn’t scale with the demand.

There needs to be something that compounds value rather than rents it from another ecosystem.

Don’t think momentum gives you stability.
You need to have more than one way to grow if you want to last.

If your growth depends on one channel, you’re at the mercy of someone else’s platform.

I learned that lesson the hard way.

Since then, I’ve avoided backing companies without some kind of software-enabled moat.

When Apple rolled out its “do not track” change, two of the CPG startups I’d invested in went from strong traction to stalled growth almost overnight.

Their Facebook ads stopped converting. And without another engine for acquisition, the business models couldn’t keep up.

I think about that a lot when founders talk about “changing user behavior.”
The best product-market fits build on existing habits.

We didn’t have to convince anyone why they wanted WhatsApp. It just worked with everyone, not just other BBM users.

That’s why adoption took off so quickly. We never had to invent a new behavior. We focused on making it feel like an extension of one that already existed.

Back when we were developing WhatsApp, one of the biggest unlocks came from something few people still think about: BlackBerry. Yes, that BlackBerry.

BBM (BlackBerry Messenger) was the standard, and it had already taught users what “always-on messaging” felt like.

Sometimes the right move is to spend less time polishing the perfect pitch and more time networking. Playing the game might not seem like you're moving towards your goal, but the people you work with today are the ones who’ll open doors later.

When that person says, “You should meet this founder,” I pay attention. That type of trust is difficult to establish any other way.

Referrals are a kind of currency in early-stage investing.

The best introductions I've gotten come from people I’ve worked with before. Someone who’s seen how a founder operates day to day carries weight a cold call or email never could.

Startup Week at @cmu.edu was a blast. Old friends, new founders, and good conversations. We ended up at the Mexican restaurant Duolingo’s CEO insisted on putting in because Pittsburgh “didn’t have a good one.” That’s how problems get solved... and startups get built.

Startup Week at @cmu.edu was a blast. Old friends, new founders, and good conversations.

We ended up at the Mexican restaurant Duolingo’s CEO insisted on putting in because Pittsburgh “didn’t have a good one.” That’s how problems get solved... and startups get built.

Everyone can sell the vision. Fewer bring the numbers to back it up. Even early revenue, even if small, tells a story about who’s willing to pay, why the problem matters, and how the model might scale. Sharing those figures shows discipline and judgment. That’s how founders earn trust.

Everyone can sell the vision. Fewer bring the numbers to back it up.

Even early revenue, even if small, tells a story about who’s willing to pay, why the problem matters, and how the model might scale.

Sharing those figures shows discipline and judgment. That’s how founders earn trust.

It’s a reminder that every project, every collaboration, every late-night shipping code is also building a track record someone else might carry forward.

Who knows your work well enough to bet on you when it counts?

At the earliest stages, there isn’t always a formal process or polished resume. What matters is who has worked with you, who knows you can deliver, and who’s willing to bet their own reputation on you.

I never interviewed at WhatsApp. A founder I’d met years earlier vouched for me, and that trust opened the door.

I was privileged, but that experience taught me something I’ve seen repeatedly in startups. Referrals are the currency of early-stage ecosystems, not just hiring shortcuts.

Six months later, he returned with an AI idea that had traction. He’d listened, turned down bad investor deals, found strong partners, and built revenue. Now he’s closed a $2.5M seed.

The ability to listen and adapt is rare, and it changes everything.

One of the most rewarding founder journeys I’ve been a part of began with a pitch I initially turned down.

A CMU grad pitched astronaut helmet displays. Interesting tech, but not a market I’d invest in.

One mistake I see early #Founders make is cluttering the #CapTable with dozens of small checks.

It feels like momentum, but it can add friction in future rounds.

Clean cap tables make life easier for everyone. It means more flexibility and fewer headaches when it matters most.

Just because you own 60% of your startup doesn’t mean you’re in control.

Control = voting rights, not just equity.

Super-voting shares help, but you have to ask for them early. Your lawyer won’t assume.

Small detail. Big leverage.

Friends + family are great for support, but not for feedback. If they’re your first “customers,” you’re not testing. You’re getting affirmation. Real insight starts when someone can say no. #startups #earlystage #feedbackloop

Friends + family are great for support, but not for feedback.

If they’re your first “customers,” you’re not testing. You’re getting affirmation.

Real insight starts when someone can say no. #startups #earlystage #feedbackloop

What's the purpose of these blacklists? The article doesn't explain how these lawsuits represent a risk to insurers. It says they don't like legal issues, but these lawsuits seem to have no downside for the condo owners, so why won't insurers cover them?

If you’re still working full-time and say, “I’ll quit once I raise,” that’s a red flag for investors.

Startups are hard. If you’re not ready to take the first risk, don’t expect others to.

Believe enough to go all-in, or wait until you do.

#Startups #Fundraising