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One Up On Wall Street SUMMARY Conclusion Chapter 20 – 50,000 Frenchmen Can Be Wrong

The market, like individual stocks, can move in the opposite direction of the fundamentals over the short term Be optimistic about America and investing in general Market declines are great opportunities to buy stocks in companies that you like You can never predict the market It takes years, not months to produce big results You can make serious money by compounding a series of 20-30 percent gains in Stalwarts Stock prices often move in opposite direction but the long term, the direct and sustainability of profits will prevail Buying a company just because its cheap is a losing strategy Selling an outstanding fast grower because its stock slights overpriced is a losing technique You don’t lose anything by not owning a successful stock Stock doesn’t know that you own it Don’t be attached to a winner Don’t stop monitoring the story If you don’t think you can beat the market then buy a mutual fund Keep an open mind to new ideas Read One Up On Wall Street by Peter Lynch Chapter 19 full su...
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The Lean Startup by Eric Ries SUMMARY Part Two: Steer Chapter 5 Leap

How Vision Leads to Steering

Customer interaction with products leads to feedback and data

Build product > Measure Data > Learn Ideas

How Facebook was able to raise so much of money when the actual usage was so small?

The amount of time users spent on Facebook and the rate it has taken over college campuses

Strategy is Based on Assumptions

Test the assumptions as quickly as possible

Build an organization that can test assumptions systematically and perform the rigorous testing without losing sight of the company’s overall vision

Analogs and Antilogs

Walkman solved critical question of whether people would use earphone to listen to songs in public which is analog and Steve Jobs took leap of faith that people would pay for music which is an inspiration from Napster who was an antilog

Beyond “The Right Place at The Right Time”
Successful entrepreneurs had the foresight, tools to discover which parts of their plan is working and which were misguided, and adapt their strategies accordingly

Value and Growth
Identify if a product or service is value-creating or value-destroying

Genchi Gembutsu
Translated as go and see for yourself. A term used by Toyota in lean manufacturing extensively 
Do not simply rely on reports

Get Out Of The Building

Startups need extensive contact with potential customers to understand them and get to know them

Conversations with the mainstream customers will yield a fundamental insight

Design and the Customer Archetype

Goal of early contact is to clarify that we understand our potential customers and what kind of problems they have

With that can craft a customer archetype: an essential guide for product development

Analysis Paralysis

Some entrepreneurs can’t wait and start immediately without analyzing their strategy

Others fall into analysis paralysis, endlessly refining their plans

A minimum viable product can help entrepreneurs to know when to stop analyzing and start building

Watch The Lean Startup by Eric Ries Chapter 4 full summary here 👇:
https://youtu.be/YfciX4gpujA

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