What makes a good software product work is the ability to build a business around a compelling idea. And while this seems obvious in America and especially in Silicon Valley, in almost any other place, people say “Well if you wanna build a business, how are you going to make money tomorrow?”
In the Valley, businesses are built around an idea and then they’re figuring our how they’re going to make money. And this is really important, because if you want to make something work, something that’s really complicated, you cannot hire people that are motivated by a paycheck. They have to live it and breath it and they have to do it over a long period of time.
And it’s not a problem of venture capital. Risk capital exists everywhere. But the companies that have been the best at using that capital, exist in the Valley, and that’s about it. And it’s not because they’re smarter. It’s because they work better together. They’re more likely to be compelled by a big idea and put monetization second.