Don't Commit Until It's Working
Zuckerberg: The most important thing entrepreneurs should do is pick something they care about, work on it, but don't actually commit to turning it into a company until it's working.
If you look at the data of the very best companies — a tremendous number of them have been built that way. Not from people who decided upfront they wanted to start a company. Because you just get locked into some local maximum a lot of the time.
Don't commit to a company until it's working. The best companies were built by people who didn't decide upfront.
Facebook Became a Company 6 Months In
Interviewer: How far into Facebook did it actually become a company?
Zuckerberg: It became a formal Delaware company when Peter Thiel invested, about 6 months in. When we were first talking to Peter, Dustin and I were very clear — we were planning on going back to school. Peter was just kind of like — all right, sure you are.
We told Peter Thiel we were going back to school. He was like — all right, sure you are.
One Semester Off. Then Another. Then a Year.
Zuckerberg: We didn't drop out immediately. We told Harvard we were taking one semester off. Then another semester off. Then a year off. After that, we kind of decided we weren't going back.
The amount of work was just growing so quickly. Peter probably knew we weren't going back — or believed he could talk us out of it. But he didn't have to.
We told Harvard one semester off. Then another. Then a year. Then we decided we weren't going back.