4 ms·
Pivots are a redefinition of a failed attempt. The part about how most of the companies are made by 30+ people who have worked together and most of them having
by KaoruAoiShiho 13y ago
Pivots are a redefinition of a failed attempt. The part about how most of the companies are made by 30+ people who have worked together and most of them having had founder experience seems to indicate that they've had had failures in their past. It seems mostly a semantical issue to me.
The impression I get is that pivots are neither a positive nor a negative indicator. It is neutral.
- jacques_chester 13y agoPivots are an attempt to internalise the market-fitting function inside the firm. Instead of failing at a company-bankruptcy level, the idea is to fail at a business-model level. However, company-bankruptcy is a much stronger signal, including to other companies and investors. Either way, the overall market-fitting function still resembles a kind of optimisation by simulated annealing -- local hill-climbing with a moderate degree of randomisation.