Lenny's Podcast · Oct 29Reflections on a movement | Eric Ries (creator of the Lean Startup methodology)
It took 10 years to reach its MVP. A partnership took almost two years and hundreds of pages of documents, then collapsed when the SEC withdrew approval. The pivot that followed won approval, and the team that lived through it moved much faster.
Tips
- Learn from failure fast by treating learning as the goal▶ 48:00Every bit of work on the partnership agreement for almost two years was wasted, and LTSE took 10 years to get its MVP approved.
- Ask your lawyer about hostile-buyer scenarios before it is too late▶ 1:43:50Founders told it is too early repeatedly find it is too late when the IPO is 18 months away and bankers are involved.
