STRATEGY

Penny stocks are mostly garbage companies. But garbage companies spike on hype all the time. My job is to trade the hype, not believe in the company.

Implied volatility is almost always higher than realized volatility. That is not a theory. That is an empirical fact. Sell premium. Let the math work.

Bitcoin is digital gold. Altcoins are digital venture capital. Know which game you are playing.

Dollar cost averaging is boring. It is also one of the best strategies for most people.

We are stubborn on vision. We are flexible on details.

Startups are not about working hard. They are about working on the right things.

Work ethic without a good offer is just suffering.

The difference between a good entrepreneur and a great one is that great ones know their next five moves.

Business is a sprint and a marathon. You have to pace yourself but also know when to run.

Here's how I think of my money — as soldiers. I send them out to war every day. I want them to take prisoners and come home, so there's more of them.

A wonderful company on sale is the only thing worth buying.

Heads I win, tails I don't lose much. That's the Dhandho framework.

Cloning is a very powerful idea. Find someone who's already figured it out and just copy them.

I'm a shameless cloner. I have no original ideas. And that's perfectly fine.

Don't diversify for the sake of it. If you have conviction, concentrate.

SEO is not about gaming Google. It's about creating the best result for the person searching.

Give away everything you know for free. Then sell the implementation.

The most powerful financial tool you have is your income. Everything else is secondary.

Most financial advice addresses 10% of the picture. The other 90% is taxes, income, insurance, and legal structures.

The value of financial planning isn't stock picking. It's tax planning, behavioral coaching, and coordination.

Great fundamentals plus great timing equals great returns. You need both, not one or the other.

We are running a political campaign and the candidate is Uber.

We chose to be the regulated exchange when it was the hard path. Now it's the only path.

We gave away the hardware for free. Everyone thought we were crazy. But the transactions are where the money is.

We don't compete with Amex on perks. We compete on making finance teams' lives easier. That's a fight we win every time.

Open source is not charity. It's the most effective go-to-market strategy ever invented for enterprise software.

Free viewers was the most important product decision we ever made. When everyone can see the work, everyone cares about design.

We're not building a medical device. We're building a general-purpose brain interface that starts with medical applications.

Everyone was fighting over New York and LA. We went to the suburbs. Turns out, that's where most of America actually lives.

We work with grocers, not against them. Amazon wants to replace your grocery store. We want to make your grocery store better.

Advertising at the moment of purchase intent is the most valuable real estate in marketing. We own that moment for groceries.

We stayed in the US and Canada while Uber went to 70 countries. Focus isn't glamorous, but it's how you survive.

In Southeast Asia, the motorbike is the car. If your ride-sharing app doesn't work for motorbikes, you don't understand the market.

Uber came to Southeast Asia with the Silicon Valley playbook. We came with local knowledge. Local knowledge won.

We left Google because we realized the fastest path to autonomous driving wasn't the one with people in the car.

We're not competing with DoorDash or Instacart. We're their future delivery infrastructure. We replace the driver, not the app.

Eighty percent of our traffic comes from Google searches. We're the only social platform that actually benefits from search engines instead of competing with them.

We didn't solve piracy by fighting it. We solved it by making the legal option better than the illegal one.

We went from Funko Pops to Pokémon to sports cards to sneakers to fashion. Each community pulls in the next one. Collectors collect more than one thing.

The free plan isn't a marketing gimmick. Every free user makes the paid product better because they add data, traffic patterns, and threat intelligence to the network.

Payroll is just the door. Once we're running payroll, we can offer benefits, retirement plans, financial wellness — everything an employee needs in one place.

The compound startup thesis is simple: when all your systems share the same data, automation becomes trivial. When they're separate, it's impossible.

Every SaaS company thinks they need to be the best at one thing. We think integration IS the thing. Good enough across ten categories beats best-in-class in one.

We're not a therapy company. We're a business infrastructure company for therapists. The distinction matters because we're not competing with therapists — we're serving them.

We're not trying to eliminate prior authorization. Health plans need cost controls. We're trying to make it instant so it stops being a barrier to care.

We published our clinical research in peer-reviewed journals before we had a sales team. That was deliberate. In healthcare, credibility is the product.

We give away the scanner because the real business is every crown, bridge, and veneer that flows through our platform for the next decade. The scanner is the door. The lab is the house.

A $15 billion market with no dominant technology platform. No venture-backed competition. No one from Silicon Valley had even looked at it. That's exactly where we wanted to be.

Being online-only was great for year one. But 95% of glasses are still bought in stores. We had to meet customers where they are, which meant building stores.

Lululemon proved women would pay $100 for leggings. Nobody had done the same thing for men. We just asked: what if men's athletic clothing was actually good?

The tallboy can is the whole strategy. It looks like a beer. You can hold it at a party and nobody asks why you're not drinking. We made water socially acceptable for people who think water is lame.

At Annie's we proved that organic could go mainstream. At Once Upon a Farm we're proving that fresh can go mainstream. Same playbook, higher degree of difficulty.

Free returns on first orders sound expensive. But the data shows that retailers who try a brand risk-free reorder 80% of the time. The free return isn't a cost — it's the best customer acquisition tool we have.