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Lenny: Maybe a final question on the other end of the spectrum, from an Nokia, from a startup founder's perspective, what is a strategy and what should a strategy look like if you're just a founder, pre-product market fit, just trying to figure out where you want to go? What should a strategy look like there? Do you even need a strategy? Richard Rumelt: Well, you're dealing with a lot of uncertainty When you're a founder in a startup, you're making a bet. You're making a bet like an oil well [inaudible 01:21:09] say, "I bet there's oil under this ground. We're going to drill, we're going to find it." There's a certain amount of bet that's going on, and you should be clear about the nature of the bet. The reality is going to be revealed to you in bits and pieces as time passes, whether a certain approach is going to work or not. What we find doing research on startups, Silicon Valley startups, is they start out typically aiming at a particular product market solution. And the idea that you have in your head is, "There's a set of customers who want A, would like to have A, are being denied A, but we have a way of giving them A," something, a product or a service.

You're making a bet like an oil well [inaudible 01:21:09] say, "I bet there's oil under this ground.

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