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Paul Graham, one of the founders of Y Combinator and a well-known venture capitalist, has given a lot of useful advice for startups. However, one of his tips that has been taken critically concerns the idea of finding the ‘perfect’ market.
In one of his articles, Graham said: ‘The idea is usually more important than the team.’ This may be unfortunate advice, because in practice the team often plays a key role in the success of a startup. Even if the idea seems brilliant, a bad team can make it fail. On the contrary, even if the idea is not the most brilliant, a team with high qualifications and good experience can adapt and develop the idea to success.
This advice may have given the impression that the idea is paramount, but in reality success often depends on many factors, including the team's ability to realise the idea and adapt to market changes.
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