Lore: Founders must ignore sunk costs and pivot toward superior opportunities
Marc Lore · Advice Line with Serial Entrepreneur Marc Lore · Dec 26, 2024 · at 6:50
Serial entrepreneur Marc Lore describes his operating philosophy on business model pivots while discussing Wonder's strategy shift.
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“You have to have the mentality that you start off a startup, and you're sort of digging for silver, but you gotta be on the lookout for gold all the time, and you might just see gold, and when you see it, you gotta go for it, and it doesn't matter what egg on your face, it doesn't matter money you lost, everything's a sunk cost, it doesn't matter what you told the board, what you told the press, what you told employees, you have to go after the gold.”
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