The most successful founders, like Koenigsegg, say the same things on day one as they do 20 years later. Their success comes not from pivoting, but from the relentless, decades-long execution of a single, powerful vision. This unwavering consistency compounds into a massive competitive advantage and defines the company's character.

When faced with a life-changing $500M acquisition offer, Ryan Smith's wife provided the clarifying perspective: "if it's going good, just keep it rolling." This, combined with a mentor's advice against selling, empowered him to turn it down and aim for a much larger outcome.

A founder's deep, intrinsic passion for their company's mission is critical for long-term success. Even with a sound business model, a lack of genuine care leads to burnout and failure when challenges arise. Leaders cannot sustain success in areas they consider a distraction from their "real" passion, like AGI research versus product monetization.

Instead of optimizing for a quick win, founders should be "greedy" and select a problem so compelling they can envision working on it for 10-20 years. This long-term alignment is critical for avoiding the burnout and cynicism that comes from building a business you're not passionate about. The problem itself must be the primary source of motivation.

Ryan Smith credits Qualtrics' success to his co-founder brother. Their sibling bond allowed for brutally honest debates that would break a typical executive team. This ability to "go 15 rounds" without lasting drama enabled better, harder-fought decisions.

Instead of chasing trends or pivoting every few weeks, founders should focus on a singular mission that stems from their unique expertise and conviction. This approach builds durable, meaningful companies rather than simply chasing valuations.

While assessed during diligence, the true caliber of a founder—their passion, authenticity, and ability to "run through walls"—becomes starkly clear after the deal closes. This distinction is not subtle; the impact of a truly exceptional founder versus an average one is immediately evident in the business's trajectory.

Ryan Smith's brother, a Google exec, would hang up on him if he discussed customers outside their target of 250 universities. This strict external accountability served as a powerful "forcing function," embedding a culture of extreme focus in the early team.

In an era defined by notifications and multitasking, a founder's ability to block out all distractions for extended periods is a profound competitive advantage. This deep, rigorous focus allows them to solve complex problems at a level that is increasingly rare and valuable.