1. Turn phones on #leanstartup
2. Entrepreneurial Renaissance 2
   1. Entrepreneurship is the discipline of changing the world through the invention of new things
   2. How many entrepreneurs in the room?
3. Entrepreneurs are everywhere 3
   1. More entrepreneurs in the world today as in any time in history
   2. Not about eating ramen
   3. Definition: A human institution designed to deliver a new product or service under conditions of extreme uncertainty.
      1. Exciting that it excludes: size of company, sector of economy, industry.
         1. We're learning that entrepreneurs are in board rooms, government orgs LG and small, even in garages.
4. Startup = experiment 4
   1. Not ad hoc , use scientific method
   2. No longer asking can it be built, but should it be built?
   3. Human institution means not a product.
   4. We're wasting people's time on an industrial scale
      1. Stop wasting people's time
   5. Most startups fail
      1. Web 2.0 report card?
      2. Not a fait accompli ,we can do better
5. Who's fault is it?
   1. Fred Winslow Taylor
      1. Invented ("scientific") management as we know it today
      2. Work should be done as efficiently as possible
      3. Management by exception
      4. Standardized work into tasks
         1. Task plus bonus
            1. Break down projects into tasks
            2. Assign tasks to workers
            3. Pay bonus to workers who do it better, rather than penalizing
      5. Compensate workers based on performance
6. Did this really need to be invented ?
   1. Piece work is over even in the worst companies
   2. If you did something better than previously, you must have been sand bagging
   3. Was wildly successful
7. Entrepreneurship is management
   1. Sorry for the bait and switch
8. Entrepreneurial movies
   1. Social network? No.
   2. Ghostbusters
      1. 3 acts
         1. Act 1 invent thing and character origin
         2. Act 2 photo montage
         3. Act 3 divide the spoils
9. The pivot 5
   1. What do successful startups have in common?
      1. Stated doing something basic and pivoted to something better
   2. Change directions but stay grounded in what we've learned.
   3. The ideas great entrepreneurs had are just as outlandish as the ones had by the failed entrepreneur.
      1. Difference is they don't just give up but also don't persevere into the ground
      2. While keeping one foot rooted in the lessons of the past, they chip away at the bad while retaining the brilliant
10. Lean startup its about teaching startups to speed up their learning. 6
11. Achieving failure 7
    1. Definition: successfully executing a bad plan
    2. If we're building something nobody wants, what does it matter if we accomplish it
       1. On time
       2. On budget
       3. With high quality
       4. With beautiful design
    3. The method of accountability in traditional management is about projecting into the future and measuring success by how they do compared to the forecast.
       1. "Lean" comes from manufacturing. Manufacturing doesn't do not waterfall anymore.
       2. Deming: The customer is the most important part of the production line.
          1. How do we handle this when we don't know who the customer is?
12. IMVU story 8
    1. Six months 25k lines of code
    2. Buggy, bad product
    3. Relieved nobody found out
    4. Did everything "right" e.g. agile