Here's what I took away:
- Can't decouple risk from return and risk from impact. Risk takers must be ready to lose.
- Entrepreneurship might not be for you. Do you love what you're doing even in a terrible climate?
- Good people mandatory, smart people who have done real things. Not "smart-asses."
- Build on revenue.
- Act instead of talking.
- Frugality and focus on value, not cash in the bank, is healthy.
See also: http://en.wikipedia.org/wiki/Morten_Lund
Unfortunately the press releases spent more time discussing Morten Lund than Live Stub.
A few months ago he apparently lost the whole thing in an investment in a Danish newspaper, and is now broke.
I never could figure this guy out - his achievements say he is smart as hell, but his blog (http://lundxy.com/) is full of spelling mistakes and errors, and he is totally inconsistent with no coherent message when he speaks.
One thing is for sure - he is a character...
No disrespect to Mr. Buffet - I hold him in the highest regard in terms of character. However, his goal is to make a lot of money and have his companies achieve this as well. He does an amazing job at this.
My slow/inarticulate point is that Lund seems to have separate goals so you can't hold him to this same standard. It isn't foolish for Lund to lose all his money with a risky venture. From my perspective, Lund wants to grow companies and create the next big thing. I commend him for going after that 100% regardless of the risks involved.
edit: OK, watching that video showed Buffets point a little differently. He was meaning never risk more than you can afford to lose regardless of the return, which is true.
maybe english is not his first language?
Most people who are getting things done judge you by what you are getting done, not by whether you can spell the word clientele without looking it up on Google.
imho it's as relevant as predicting an asian engineering student success based on english SAT
One common symptom of dyslexia in an adult is difficulty spelling. http://www.interdys.org/ResourcesCommonSignsAdults.htm
In my experience working with dyslexics they are more persevering: some tasks that are easy for many require more diligence and practice. It's a habit they develop in childhood to survive. I think this habit may be one source of their entrepreneurial success.
See also http://money.cnn.com/magazines/fortune/fortune_archive/2002/...
so i guess it's only natural more spelling errors lead to more achievements ... maybe because s/he doesn't waste time being a grammar/spelling nazi