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When I was 26, two mates and I opened and ran a handmade business - we made creative craft kits 🎨 It didn't take us long to notice one thing: buyers almost always reorder from the suppliers they've already worked with. Not because the product was better, but because it felt safer and more familiar. Whoever got in first had already become "their guy" - and competing with that turned out to be harder than just making a great product. Yes, part of it is about reliability and proven relationships. But honestly, a lot of it just came down to inertia. Nobody wants to change what already works.

We usually see the best part, but not the journey behind it Any investor can find themselves in this situation Yesterday I had a call with a VC investor, and they were one of the first to invest in ByteDance. "It's probably our best investment," he said Sounds impressive - and yeah, it's the kind of story everyone wants to hear, the kind that inspires people But as we kept talking, I realized that behind that one bet were many other attempts that usually stay behind the curtain - and those aren't nearly as interesting to the public His fund has invested in over 150 companies, but everyone