How To Progress Way Faster Than Anyone Else (Answering Your Questions Live)
In a Nutshell
Focus beats intelligence, consistency beats intensity, and action beats intention—success comes from believing in yourself enough to go all in rather than hedging across multiple initiatives. Growth happens through subtraction, not addition: regularly cull projects, people, and distractions so limited resources concentrate on the highest-return activities instead of spreading thin. The gap between knowing what to cut and actually doing it determines outcomes; making the hard calls—firing, canceling, admitting mistakes—before the market forces them is what separates those who scale from those who stall.
These notes were generated by AI and may contain inaccuracies.
A focused fool can accomplish more than a distracted genius. Lack of focus is a form of cowardice because it means you do not believe in yourself enough to go all in. The world rewards you in proportion to your courage, not your intellect.
In the early days, the amount of work was so massive it could only be measured by weighing it, not counting it. Stopping to think about how unfinishable it was created the urge to quit, so the only viable approach was taking the first thing off the stack and starting without dwelling on how shitty or alone it felt. Race horses wear blinders for the same reason: focus only on what is in front of you and you will get through it.
Focus beats intelligence. Consistency beats intensity. Action beats intention. Losing does not make you a loser; quitting does. You will be rewarded far more for your determination than your intelligence. Determination looks like a long string of failures before it works.
The hardest lesson in business is learning to grow through subtraction. Cutting hurts far more in the short term than adding, yet adding new things, new people, new initiatives, and new projects hurts far more in the long term. It is easy today and hard tomorrow.
Humans default to solving through addition because it feels easier. When a business is not growing as fast as desired, it is almost always because too much is being done. Limited resources are spread across too many objectives.
David Senra of the Founders Podcast stated that if 400 episodes and every biography read could be consolidated into one word, it would be focus. Most people are not nearly violent enough in the quality and quantity of ways they say no to things they desperately want to do.
The result is insufficient surface area of thinking. Competing against people who have ten times the resources focused on one-tenth the number of problems is impossible. They blow through smaller doors because all effort is concentrated on single points. That is how leverage is gained.
Subtraction is required for many circumstances. Because the human tendency is to add rather than subtract, the job of the boss is to regularly cull. The tree must be kept healthy. The garden must be weeded. Cutting that no one else will do must be performed, otherwise bloat occurs.
The business and the tribe must be protected. If it is not done in the short term, the market will force it in the long term. It will happen either way; the only variable is whether it occurs from a healthy business moving in the desired direction or an unhealthy business that gets corrected or dies.
Before COVID, pruning occurred after a hyper-growth phase revealed bloat. Offshoots draining resources without delivering proportional return were removed. These took many forms: talent that was decent but not good enough, departments where work had decreased due to automation but headcount remained unchanged, vendors or subscriptions with excess seats or service levels no longer needed, meetings with too many attendees, Slack threads adding people for unnecessary visibility, and too many different revenue streams.
Seven streams of income for millionaires is a line used to sell things by people who sell things; it is not reality. People do not get rich with seven income streams. They get rich and then diversify. That is how millionaires end up with seven income streams.
Focus is subtraction. Jack Dorsey's quote captures it: perfect every detail, limit the number of details.
Unrestrained growth has another name: cancer. Unrestrained allocation of resources must be cut out or it will kill the business. When resources are limited, how they are allocated determines reward. This is the essence of strategy: the curation and prioritization of resources.
Good strategy is the curation and prioritization of resources to achieve the highest return for the business. People moving faster are not actually moving faster; they are doing fewer things better. They direct the same resources toward the main trunk of the tree to grow it fastest upward instead of in multiple directions.
Growth is not from activity; it is from vector. It is directional. Pruning the tree, cutting off outgrowth, is how the tree is actually grown. Resources are directed toward the direction of growth with the highest return.
Cutting requires piercing the surface, cutting through skin and bark, and actively inflicting pain. Something that was helped to grow must be sawed off. This requires admitting a mistake was made and hurting someone else, whether a vendor or employee, to make it right.
On top of the personal and ego pain, there is the sunk cost fallacy. Resources have already been invested in money, time, and effort. Continuing throws good resources after bad and misallocates them.
Compensation will occur either way: a slow-growing business, a no-growth business, or a going-out-of-business outcome. The delay is longest for the entrepreneur, but it comes. The job is making the hard calls and the cuts. That is what compensation is for: taking risk and responsibility and doing jobs no one else is willing to do because they are too complex or emotionally difficult.
Entrepreneurship is like chewing glass and staring into the abyss: uncertainty and hopelessness in the future paired with intense pain in the present with no promise of relief. If a motivational speech is needed, entrepreneurship might not be for you.
A fitness business owner has a school group, in-person location, high-ticket coaching, an app, and offers peptides and HRT, all with a 30-person team. A 30-person team of that size should generate roughly $10 million per year if poorly optimized and $30 million-plus if well optimized, yet revenue is generated without significant volume, growth is stop-start, and profitability is unsatisfactory.
The owner already knows the reason. The hard part is doing something about it. Power is the distance between information and action. A powerless person can receive all the information in the world and nothing happens. The ideal is zero gap between thought and reality.
Justification for keeping projects or people despite knowing they are wrong for the business is common. The honest answer is that it is not fair for others to suffer for mistakes, yet the owner cannot get fired. The call must still be made. Other people will suffer for incompetence and mistakes, and that must be carried.
The complex decisions in entrepreneurship are romanticized, but the actual hard parts are not intellectually engaging; they are emotionally draining. The things that sink the ship are the vines that wrap around the trunk and strangle growth, the outgrowths that take resources, and the weeds that prevent anything else from growing. If weeds are not pulled, branches are not cut, and vines are not killed, nothing else grows. If nothing grows long enough, the business begins to die.
Most humans are unwilling to delay short-term hardship for long-term payoff, which is why most humans are not successful. No one holds the entrepreneur accountable to making hard calls. The team will accept it as long as paychecks arrive and some vision exists. Accountability must come from within, ideally before the market enforces it, out of respect for customers, the business, and the team.
In the real world, side quests do not add up to main quests and will kill the business without any chance of recovery, unlike video games.
Focus is the single-word lesson from hundreds of biographies of entrepreneurs who built companies that fed thousands or millions and created enormous wealth. Utility cannot be created when trying to solve all problems. Constraint must be accepted. Many businesses seeking tactics have cancer throughout them. When someone has three businesses and there is only one of them, it does not work.
The common response references Elon Musk having multiple businesses. The distinctions are that most people are not Elon, he is the only one who has done it at that scale, and he is not the CEO of multiple companies; he is the owner. CEO and owner are conflated, especially by small business owners, because both hats are worn at the start. There is a reason for the slash: they are different jobs. An owner holds stock; a CEO runs the company. One person cannot be CEO of multiple companies.
The obvious and difficult things in front of people, not the non-obvious and tactically irrelevant, are what matter. A restaurant does not grow because the food sucks; it is not because of marketing tactics or staff training. The obvious truth is painful, so egos hide it and distract with something else that seems achievable. Starting another business spreads resources even thinner.
With limited peanut butter, it is better to put it all on one corner for one good bite than to spread it across too much bread. Business works the same way.
The conversation with the fitness business owner made the problem clear. The question is not what to do; the question is whether it will be done. Everyone listening has an employee, teammate, pet project, or investment where cutting the loss raises fear of looking dumb, admitting a mistake, causing whiplash, or building a bridge to nowhere. The alternative is continuing to water weeds and letting vines strangle remaining growth potential.
Running a business is already hard. Growing requires taking whatever excess capacity exists and putting it into growth. Constant new activity leaves no extra resources. The regular business then suffers, and the main thing cannot grow because basics are not being done.
These are obvious truths that anyone running a business knows, but they are psychologically and emotionally challenging because they hurt the ego. Hard conversations must be had, mistakes must be admitted, and one must look stupid in front of people who trust their livelihoods to the decisions being made.
If growth is not occurring, there are always fires, whack-a-mole situations, inability to get ahead, barely staying above water, suffering profitability, and the feeling of spinning plates with multiple initiatives, it is likely a big obvious problem is being chosen not to be confronted.
Growth occurs through subtraction, not addition. It is counterintuitive. Resources must be put in one place rather than spread. Bets must be concentrated. This requires courage. Lack of focus is lack of courage because of unwillingness to go all in and insufficient belief in oneself.
The message is to believe in yourself enough to make the hard call, knowing that it will be figured out.
You will survive making difficult decisions including having conversations, cutting off vendors, right-sizing teams, cutting projects, or abandoning investments that have become distractions. You do not have the team to execute certain initiatives or make certain calls. Make the decision you know needs to be made by putting it on your calendar and executing it. This demonstrates in a tactical way that you are more powerful than you think because you have shrunk the gap between your thoughts and reality.
The fear that employees will take secrets and become competition depends on the nature of the business and how many keys are in the castle. If you give one person all six keys, they still have to take risk which many people are unwilling to do to start a business. Employees often think they have the whole playbook when they really have three keys, then go off and don't do any better.
In service businesses doing one-on-one services, the only missing part is the acquisition side. Even then, barriers exist including needing a salon, materials, gym, or equipment. Employees can steal your book of business, but until they know how to generate more business themselves, it doesn't matter. Learn to promote, sell, market, and generate leads as a small business owner because that gives you something you can control.
Prevent competition by not giving all the keys of the castle away or having a business that prevents it. Complex businesses with high capital requirements and compounding assets make creating competitors less likely. The fear is justified but avoidable, largely for one-on-one service businesses.
Struggling to juggle everything means you are doing too much. Look at everything and cut what is too complicated. Business follows a cycle of growth, bloat, cutting, efficiency, and growth, acting more like biology than a machine. Be willing to make cuts in the form of focus to save the whole.
It is acceptable to take a step back and recover before taking another bet. Knowing how to sell is the most important skill because if you cannot get people to give you money, there is no business. First businesses are rarely the last business. Businesses spawn from other businesses where one dies and the next comes in its place.
Do not run multiple businesses concurrently. If you realize there is a better version of your business, shut one down and go all in on the next one. Lack of focus is a sign of cowardice because you are unwilling to go all in.
Advertise salary ranges depending on experience and pay above market. A players cost one and a half times more than B players but are worth three to five times as much, with the gap increasing at higher levels. Spending a million dollars a year for an employee might yield a higher return than a hundred thousand dollar a year employee.
Track revenue per headcount and profit per headcount as leading indicators. A 30-person business making six million dollars annually equals two hundred thousand dollars per employee. Paying seventy thousand dollars on average leaves one hundred thirty thousand dollars after payroll before other costs.
Once you learn delayed gratification, you keep doing it until you die and whatever you were delaying never happens. The third marshmallow fallacy is that waiting so long eventually makes the marshmallow worth it, but two marshmallows after thirty minutes versus three marshmallows after two years may not justify the wait.
Entrepreneurs in the top ten percent fight the opposite problem of always delaying gratification indefinitely and never experiencing what they are delaying. Learn when to take, cash in, take chips off the table, and eat the marshmallow because collecting marshmallows indefinitely can still result in starvation.
If clients are getting bigger than you, their opportunity vehicle is superior to yours. If you are good at e-commerce marketing, start an e-commerce brand similar to your most successful customer. If you are good at HVAC lead generation and sales, partner with someone who has delivery capability for a fifty-fifty split.
Good business vehicles are unique, expensive, sticky, and have air. Unique means things only you can do. Expensive means high gross margins. Sticky means people keep paying. Air means high operational scale.
Multiple revenue streams are acceptable if they do not require multiple workflows to create them. If promoting or endorsing something does not change day-to-day behavior or team actions, it is acceptable. If it requires another cycle of actions for potential future reward, decline it.
If you have one revenue stream doing well, keep others only if they can be delivered as leanly as possible. If another stream requires whole new workflows, talent flows, or more difficult customer acquisition, double down on the existing revenue stream.
- Think someone else winning means you losing
- Only learn from people who look like you
- Start many projects, finish none
- Get married to someone who spends more than you make
- Keep starting new things rather than getting good at one thing
- Do what your poor friends do and expect to get rich
- Follow advice from people behind you in life on how to get ahead
- Blame anything besides yourself for your problems
- Prioritize looking smart over being smart
- Tolerate mediocre people
- Quit
Age is thirty-seven. Work about twelve hours a day normally, sixteen hours during extended periods. Heavy thinking work happens before lunch from five to noon, with meetings, touch bases, and decisions in the afternoon. Make decisions in the mornings.
Acquisition.com requires making content and advertising to promote the business. The goal is staying cutting edge and in the dirt rather than getting too removed. The business more or less runs itself now, but it did not start that way.
Early business required so much work it could not be counted, only weighed. Alternate between rest and work when output decreases past a certain point. The rocky cut scene lasts sixty seconds in movies but could be six years in real life. Self-funded bootstrapped entrepreneurship takes almost everyone five years to figure out.
Without perspective to make judgments, everything seems confusing. Learn through trial and error with high error rates. Find sources with high signal as in high tactics per second, closely related to what changes your current life, from someone who has achieved what you are looking for and helped others like you.
Take everything from one person for a period, go all in, replicate before you iterate, duplicate before you iterate. Do exactly what they do, get the same result, then experiment after going through the reps.
Pricing at sixty to seventy-nine euros with a single feature competitor at ninety-nine and eighty-three percent margin outside the Shopify network is testable. Test rather than guess because being wrong about price tests is common. Use common sense because your model of reality allows moving faster than people who rely on data for every decision.
If you need a test for every decision, you will never succeed because you rely too much on data and not enough on prediction ability. If you have a bad model of reality, business will be hard because you learn everything the hard way. Founders with accurate models of reality make gut-based decisions using history with reality to project into the future.
Test multiple list brokers and sources by buying five different lists and comparing connect rates and percentage of ideal customers answering the phone. Optimize for truth by getting more leads from places with the best quality. Be willing to spend money on lists and scraping processes that are not effective.
AI now enables enrichment that previously required manual work. Being in the same position a year from now should be more frightening than making the scary decision or conversation right now.
When asked about grooming habits, the response clarifies that the only consistent activities are working out and eating properly. Foundation, makeup, and eyeliner are applied daily as part of the routine. The beard requires improvement as it becomes scraggly and the hairs grow wild.
When cash is low, decisions happen fast and execution follows immediately. When feeling safe, overthinking occurs, best moves get delayed, and reps decrease. The question addresses how to maintain execution regardless of urgency and certainty levels.
The best entrepreneurs maintain a maniacal sense of urgency at all times. This urgency stems from having a mission to frame decisions against. Mission-driven approaches create urgency because customers are waiting for growth, people are getting ripped off or underserved, and suffering continues because growth hasn't happened fast enough.
Urgency originates from the top. The speed of the boss determines the speed of the team. Speed of decision-making depends on the quality and quantity of data available plus the number of accurate models of reality that can make predictions. Good data combined with multiple accurate models enables quick, accurate decisions that cascade down to teams.
Most organizational slowness originates from the top through delayed decisions. The key test is whether more information will become available to make the decision. If no additional information will arrive, the decision should be made immediately unless emotions are involved.
When emotions are heightened, wait until they subside. For anger, wait at least 20 minutes. For stronger emotions, wait 24 hours. This approach ensures decisions come from data and projection models rather than emotional states.
When replaying a video game level after beating it once, completion happens much faster despite the character moving at the same speed. The difference comes from pre-made decisions with zero contemplation required. People moving orders of magnitude faster have superior decision-making ability, typically from superior data and superior models of how the world works.
Someone who built a $100 million business can build second and third businesses quickly because they already know the levels and what must happen. The challenge is transferring these models of reality to others, as people often know what to do but don't execute due to difficulty, ego protection, and unwillingness to admit mistakes.
No knowledge exists about seaweed extraction and algae production for cosmetic products in the Red Sea. The topic is completely unfamiliar.
Making $300,000 per month profit from flipping vacant Florida land at 99% profit margins presents a choice between moving to a Caribbean tax haven with 0% tax or staying in Florida paying 40% tax but remaining local.
The answer depends on optimization goals. Maximizing income means choosing the no-tax location. Optimizing for lifestyle means choosing the preferred living location. Living location correlates strongly with subjective well-being. Making money to enjoy life becomes pointless if the money requires giving up the freedom to live where desired.
A Michelin and New York Times-rated restaurant lost six locations during rapid expansion. The advice is to make the food good again by retracing steps that originally built the brand. Understanding failure reasons is equally important.
Overexpansion typically indicates undertalented teams rather than expansion itself being problematic. Insufficient skill in hired people means either not purchasing good enough skill or inadequate training in transferring successful methods to new locations. Brand dilution occurs when core products no longer match original quality levels.
Rebuilding requires returning to elements everyone loved and maintaining militant standards. The experience of failure provides knowledge of what improper execution looks like.
In competitive bidding situations where everyone tries to outbid, two strategies are essential. First, develop proprietary deal flow through unique customer acquisition methods rather than competing on public deal sites with multiple RFPs. Second, create a unique offer beyond the core service.
Beyond basic cleaning, examine ancillary benefits and costs: speed of service, quality level, English-speaking staff, guarantees, and degree of cleaning. Win through nuance rather than being cheapest. In service businesses with US labor, avoid competing on price. Instead, demonstrate that cheaper competitors cost more over the long term. Sell this story through addressing all cost and value elements beyond the core service.
Focus on content quality while caring less about editing and production elements. People care about what content can do for them, not appearance during delivery. The brand was built initially with just a webcam and poor microphone in a closet, proving value matters more than production quality.
Good educational content represents a bargain where time invested yields saved time through avoided mistakes or accelerated progress. Content succeeds when it delivers positive returns, creating repeat consumption. This differentiates education from entertainment.
Higher standards than customers combined with charging premium prices creates wealth. Customer standards only increase, making previous exceptional delivery the new baseline expectation. Consistently raising the bar above customer expectations requires perpetual dissatisfaction with current offerings and constant improvement efforts.
This obsession over content, products, and services represents the primary factor, combined with charging enough money, for generating exceptional wealth.
A 25-year-old hemp business owner making $2 million annually wants to raise $4 million for transitioning to recreational markets. Classic investors are difficult in this industry.
Success depends on the same factors as normal offers: return potential, risk level, and timeline. If an opportunity is good enough, unlimited capital will appear. When money doesn't appear, the opportunity itself isn't good enough. People with money excel at finding money-making opportunities.
Mental models develop through mental shorthand from excessive volume, then discovering shortcuts through that volume. Talking to one business owner yields no model. Talking to a hundred creates a handful of models. Talking to a thousand reveals patterns where solutions fall into categories A, B, C, or D, with specific responses for each.
Models emerge from repetition and volume. Clarity of thinking develops from solving problems repeatedly until shorthand solutions become obvious. These solutions work because they've been tested through actual experience.
Don't get bored. Be violent. Create your own enemies. Break your own records. Leave no doubt. At life's end, regret comes from giving up early rather than from effort expended.
Many people are close to achieving goals but need more unreasonable effort and volume. Apply more violence to current opportunities with ruthless prioritization and willingness to sacrifice other things temporarily. Without defining what matters most, sacrifices become impossible. Pursuing everything results in achieving nothing.
Family members can work together in business if treated like strangers with proper communication. Bad deals shouldn't be made with anyone, including family. Expecting family to work indefinitely for nothing won't succeed any more than expecting strangers to do so.
Treating family like strangers enables long-term business relationships because the arrangement must work independently of personal connections. When dating, a job offer was structured to make sense even if the relationship ended, ensuring the arrangement remained viable regardless of personal dynamics.
Family relationships make confronting hard truths more difficult due to higher stakes and fear of relationship damage. However, fear of losing relationships requires complete honesty about everything, including difficult topics. Inability to confront hard truths before entering business indicates unreadiness for the partnership.
For new service businesses, select an attraction offer such as buy X get Y free, grand opening giveaways, or win your money back. Wrap the service in one of these money models. Record the service being performed for free on 5-10 people in exchange for testimonial usage.
Use these recordings as initial creative content with different angles, cuts, and copy variations. Upload to Facebook targeting instant forms without requiring landing pages. Call leads within 15 seconds to 5 minutes maximum.
Set up Facebook ads with meta lead forms connected to Google Sheets via Zapier, with phone notifications for new leads enabling tap-to-dial functionality. The automation should trigger on a minute basis to ensure speed.
Business fundamentals remain constant across industries including game studios. Supply and demand, pricing, and gross margins all apply. The return profile differs in terms of upfront time and capital investment, functioning more like software businesses.
AI and development tools reduce capital requirements and increase leverage, allowing greater equity retention. The core requirement remains building products and informing people about them. Game studios typically require more initial capital for product development, necessitating longer runway calculations and consideration of equity versus cash compensation for team members.
Addiction risks exist independently of wealth levels. People achieve stardom and riches then experience burnout, but many without stardom or riches also burn out and struggle with addiction. The pattern isn't necessarily connected to wealth achievement.
Rich and famous individuals have no additional protections against addiction compared to poor and unknown people. The danger requires the same level of respect regardless of financial status.
Being naturally good at finding value everywhere but saying yes too often costs focus. The skill of finding opportunities needs pairing with equally strong skills in saying no and determining what's not good enough.
Many opportunities appear attractive because goals are too small. Larger goals raise the bar, making fewer opportunities acceptable and simplifying the decision to decline. Early-stage poverty makes not being poor the goal, causing many opportunities to seem worthwhile that wouldn't qualify with bigger objectives.
Having much bigger goals creates a much stronger forcing factor on what to say yes to. When you're making $100,000 or $1 million a year, there are still plenty of opportunities that seem attractive. But when you set a goal of $100 million a year, the number of opportunities that are actually worth pursuing shrinks dramatically.
Video campaigns show that image ads can outperform bad video, while good video will outperform image ads. Running both video and image ads works effectively. If someone struggles with video creation, they'll likely perform better with images. If someone is skilled at video editing and scripting, video ads will work well too. There's no one-size-fits-all approach.
You can identify hiring mistakes through several indicators: creating rules you can't believe you're making, doing the work for employees, experiencing team slowdown rather than acceleration, seeing revenue per headcount declining, and liking the people you work with less over time. These five signs indicate hiring people who lack the necessary competence. The issue may be that employees were competent for needs from five years ago but aren't positioned to reach goals five years from now.
Starting a freelancer marketplace as a first business isn't recommended. Upwork and Fiverr appear to be performing adequately without significant disruption. For any new marketplace to succeed, it would need to focus on niches with high specialization that are difficult to find. Marketplaces are challenging because they require both supply and demand, as evidenced by direct experience owning a marketplace.
When consuming content about unregulated AI and the singularity, the key question is what any answer would change about what you're going to do. When differentiating signal from noise in content consumption, ask yourself while consuming: "What will this change about what I do?" If you cannot answer that question, stop consuming it.
Entertainment has a purpose for rest, which doesn't increase unit output per time in the moment but increases total output over the next day. For education, the question is what will be done as a result. If consuming doom and gloom AI content doesn't change day-to-day actions or business operations, move on. The only point of consuming such content is if it will change what you do.
To ensure listeners understand and retain what you say, speak in observable terms about what will affect their lives day-to-day, including how it affects their bodies, brains, and mouths. Reinforce the same point from multiple directions using multiple different narratives—statistical examples, narrative examples, analogies, and personal examples.
The approach involves making one point with 10 different examples rather than 10 points with one thing each. Give one point and then 10 reasons why it's right. Content and teaching are fundamentally selling, which means maximizing the likelihood that someone changes their behavior in a specific direction. Selling and education are the same thing.
When communicating expectations, be extremely specific. "Be on time" means nothing, but "be 2 minutes early" is clear. "Respond promptly" means nothing, but "respond within 15 minutes during work hours on Slack and pick up immediately during work hours if called" defines the expectation precisely.
The point of communication is to change behavior. When giving feedback about working directly, instead of saying "you have to deal with me being direct," use if-then conditional statements: if you hear this, then you need to do this. Conditional statements create conditioned behavior.
There's a woman in the 1800s who birthed eight kids naturally, before the invention of weekends, and was considered soft. People 100, 500, or 1,000 years ago worked 100 times harder because they didn't know it was considered hard work—it was just life.
The vast majority of people are incredibly soft, so don't compare yourself to their standards of hard effort because you'll beat their standards and still fall below your potential. Humans are physically capable of 10 times more than currently demonstrated. Societal rules about what's "good enough" or "hard enough" have limited our ability to push forward.
For businesses with long lead times like custom car parts (three weeks or more), adopt the airline delay method. Instead of announcing a 10-hour delay upfront, provide incremental updates: "It's delayed an hour. Here's an update." Even when there's no update, communicate that fact to show attention to their order. Increase communication cycles, state the facts, and tell the truth. This approach is automatable and costs nothing beyond one-time setup work.
You can start ads whenever. If getting customers through the current model and not wanting to do more podcasts than currently doing, evaluate based on highest return on incremental effort. Compare the cost of getting 10 additional clients through existing methods versus through ads. Take the certain way first and exhaust every means possible before trying uncertain approaches. The first time developing a new acquisition channel costs significantly more—it's like developing a pharmaceutical drug where the first pill costs $10 billion and the second costs 10 cents.
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