# Business notes

## Processes

- All the niceties in language is bullshit (4-paragraph email expression) -> professional managerial class is over - we got GPT's for that.
- How to solve technical challenges? Just do it.
- How to handle errors? a great error detection/handler -> set up alerts -> measure failure rates -> iterate and improve. Use fingerprinting to identify your users.
- Avoid regressions. Make slow and continuous improvements. Make a few steps every day, and try not to slide back at night.
- Cash injection doesn't help you climb out of a well.
- Keep idiots far away.
- Set the bar really high. Make your employees ship things. Change the world.
- Don't hire people to make up fake statistics.

## Product

- Build companies that change the future, not the ones that change the distribution of wealth.
- How to build a great product? iterate, build and ship versions of it (iPhone example).
- Be honest. Remove communication/sales people, e.g. "professional liars", don't make numbers "look good", if you don't lie - you don't have to remember anything. Open-source and transparency.
- Ship. Sell something and see if someone buys it
- Iterate. How to build something good? Build something bad three times. The only thing you are in control of is the iteration speed.
- Be humble.
- There is no exit. No get-rich-fast schemes. We are here for a long time. Now work with it.
- A lot of "value creation" is a scam. Value destruction: if you can destroy a number of competitors, you succeed.
- The only narrative: "BUY NOW".

## Metrics

- Lifetime revenue vs Amount raised. Make back your initial investment (at least in revenue, not profit, just revenue).
- Twitter followers.
- Employee retention (total people quit).
- Use forward looking statements for future projections.
- Calculate the amount of FLOPS working at your company. Use it wisely.
- Items ready to ship. Total shipped. Items currently in use. Track over month.
- Failure rates. Return rates. Track over month.