But, I think the "Be relentless, never give up!" approach is becoming just as bad. A bad idea is a bad idea and you have to know when to move on or pivot big.
One is poor planning. The other is myopia. Both should be avoided.
[1] http://www.amazon.com/Ready-Fire-Aim-Million-Agora/dp/047018...
How many of the angel-backed startups these days are really looking to be long-term players? How many are looking to IPO in 10 years, vs get acquired in 2-3? How many founders envision themselves as the CEO of their company in 20 years? The fail fast mentality seems, on the surface, to be a reflection on an underlying current in the founder mindset: that entrepreneurship is a way to make enough money that you won't have to get a "real job". Just slug it out fo a few years, then become an angel yourself.
From http://paulgraham.com/wealth.html
"Economically, you can think of a startup as a way to compress your whole working life into a few years. Instead of working at a low intensity for forty years, you work as hard as you possibly can for four. This pays especially well in technology, where you earn a premium for working fast."
It's a motivation for a startup. Solve the "money problem" early in life, and do more important things later.
I don't have a problem with people launching websites with the intention of selling them in a couple years, but I do dislike the notion that that is what constitutes successful entrepreneurship. The tech world needs its Googles and Facebooks, which means we need entrepreneurs with vision who are willing to stick with it for the long haul.
Also known as “kill ideas fast”, this advice is saying that your idea is probably not worth the pixels it’s displayed on. Ideas are a dime a dozen, execution matters. You’d be better off with a dumb idea in a large, expanding market!
Trust Your Guts
Also known as resilience or tenacity: when everyone else tells you to give up, when there is no hope in sight, what separates the successsful entrepreneur from the wanna-be: perseverance. Don’t give up.
Here’s my take on the contradiction: both your guts and everyone else are right — partially. It takes a very smart person (you) to figure out the gem that your guts detect and remove the junk that everyone else sees.
(source http://blog.fairsoftware.net/2009/12/18/startup-advice-contr...)
I never saw it that way, or at least at that scale. I see it as a way to move fast by validating assumptions with evidence and being unemotional about sunk costs. Rather than spending many hours of meetings and design sessions and approvals to try a feature or change, just do it, measure it, and if it's not working, kill it. If it is working, keep it, and nurture it. If you just spent 3 months on an idea that is getting no traction, don't spend another 3 months trying to fix it when you've got other promising things in the pipeline.
Fail Fast can also be seen as: Perform, get feedback, perform slightly better, get more feedback, iterate until perfect.