Startup Pivots

“How do you know if it's time to pivot? If what you're doing is not working for long enough that it's just not working? And that's it. It's when you're out of ideas or out of motivation on the current product.”

“As soon as you change the target market and the problem, the product actually often needs a much more radical rethink than you would have initially imagined. But that's not where you need to stop. Then people sort of forget they need to change their business m…”

“If you have an insight, you have a first mover advantage into the future. And even if your initial implementation is wrong, it's a reference implementation of your insight. You can pivot the implementation by changing the implementation itself or by focusing o…”

“Things that work tend to work really fast. You know, it was kind of this anti-pattern. Most people would say, well, you got to stick it out and be perseverance and, you know, keep, you know, banging your head against an idea and you have to keep executing it. …”

“And so, if you think, like, a pivot in many people's minds is just like a moment. It's like the singular decision, and it's like a lightning strikes you, and you know. In reality, what happened with Lyft was that Zimride went through hundreds of iterations.”

“So now a successful pivot is impossible to predict and, you know, be a lousy investment strategy.”

“The decision isn't actually that hard. It's the courage to actually make the decision that's nearly impossible and why nobody ever does it, because you're basically, if you continue going on your current route, you know, particularly if the company has got som…”

“Very rarely at least in my experience, are you pivoting into something That you know is going to work or that you've got super high confidence in. You're mostly pivoting away from, you know, near certain disaster.”