To succeed as an entrepreneur, you need to believe in a secret idea and know the tools better than anyone else.
To develop a good idea as an entrepreneur, you need to know a secret, which is something you believe that most other people don't believe, and one way to do this is to know the tools better than anyone else.
Cloud storage was a crowded market with many venture-funded companies, making it a risky venture to enter.
The speaker realized that to create reliable cloud storage that feels like a local hard drive, it requires solving non-trivial technical problems such as nat hole punching and syncing.
Kickstarter's founder, Perry Chen, drew from his own experience in the artistic community to create a platform that connects project creators with backers, despite many doubting the idea's potential.
The rise of the internet and social media has unbundled the functions of newspapers and curatorial news, allowing individual reporters to build their own audiences.
Good ideas often look like bad ideas because they unbundle the functions done by others, as seen with the example of newspapers and how each function was picked off one by one with the rise of the internet and Craigslist.
Social media has made the curatorial function of news less important, with individual reporters now able to build their own audiences through Twitter and Facebook.
A university serves multiple functions such as social experience, credentialing service, coursework, tests, and job recruiting.
Education will follow the same pattern as newspapers, with good ideas originating as hobbies and being dismissed by mainstream pundits.
The same pattern that happened with newspapers over the last 20 years will happen in education over the next 10 to 20 years, with good ideas often originating as hobbies and being dismissed as bad ideas by mainstream pundits.
In the startup world, businesspeople and technical people vote on what they think is interesting in the future business by allocating money or time, respectively, and this heuristic has been predictive in the past.
Good ideas often start as hobbies and can challenge social norms, leading to successful platforms and innovations.
Open-source projects like Bitcoin, 3D printing, drones, and big data frameworks often get dismissed as bad ideas by the mainstream, but they actually start as hobbyist projects and can lead to successful platforms like Github.
Good ideas that challenge social norms often start as hobbyist tools and processes and can be applied to large organizations to coordinate work processes.
Flickr's innovation of defaulting photos to public challenged social norms and became a standard UI device in modern social software.
Learn the secret through direct experience.
The best predictor for startup success is whether the founder has technical or problem domain expertise, and the best ideas come from direct experience rather than abstract concepts.