CHOOSING THE RIGHT LADDER

Summary from the TLDR Founders newsletter

The path to startup success isn't just about execution – it's about choosing the right game to play. While you can build a good business anywhere, building a category-defining company usually means competing in the markets and networks where the stakes are highest. For founders, this means making an early strategic choice: either commit to climbing the most challenging ladder (usually meaning the US market and primary innovation hubs) or risk winning in a smaller pond only to be eventually outcompeted by companies that compounded their learning in tougher environments.