Pick a good market. [email protected]
Adam Rifkin stashed this in Founders
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"Pick a good market. The idea for approaching that market may change, but find a meaty problem to solve. You can try to attack it a bunch of different ways. Don't be too narrow."
Don't be afraid to think big. Go after a big market. Find a big problem to solve.
One other piece of advice from Caterina? "Build a great product... The real world is a bottomless source of inspiration for what you can build."