http://labs.is.co.za/justinspratt/2008/09/internet-entrepreneurship-talk-gibs
Summary:
From my experience with Vottle and IS Labs, I think the five most important things in a web startup are:
1. Money cannot be your prime motivator
2. Work with smart people (that should be your reward - everything else should be a bonus)
3. Get it out quick and iterate continuously based on user feedback and metrics
4. Don't be shy to copy good ideas - Vottle.com looked to Craigslist for inspiration and ISLabs looked to Paul Graham's Y-Combinator
5. The smaller innovations have been the bigger winners (eBucks & Skype were ground breaking for Vottle, but are perhaps still a little too early)
