the most important skill of billion-dollar founders

become a tastemaker, building a financial fortune teller, and hiring 10x talent.

An entrepreneur’s only defensible skill is their taste.

I’ll double down: it’s the only skill that matters.

Why? Because nobody is special:

• Elon Musk did not invent the electric car - but his taste made Tesla’s cool to the mass market.
• Mark Zuckerberg did not invent social media - but his taste in picking the right platform (mobile) and acquisitions (Instagram, WhatsApp) is how he won.
• Blundstones aren't dress shoes—but the godawful taste of people in the PNW has gaslighted you into believing they're business casual.

Okay, that last one is personal, but you get the point.

If you need the point bludgeoned over your head - here you go:

I wrote about how AI is a once-in-a-lifetime opportunity for entrepreneurs. However, this is only true if you have good taste—because the competitive advantage of being the "smartest person in the room" has vanished.

Because now anyone—even people who need the ‘do not iron while wearing’ warning labels on their clothes—can access Einstein-level intelligence at their fingertips. All they need to do is type a few prompts into their magic box and AI will spit out an idiot-proof business plan.

The good news? These Blundstone-wearing competitors often miss a good idea even if it tap-dances on their desk. You, on the other hand, can jump ahead with taste. Here’s the key components:

• Talent: Recognizing exceptional talent requires great taste not just in people, but in identifying 10x performers. This is the most important component—if you have poor taste in other areas of your business (i.e. branding), you simply need good taste in hiring someone better than you.
• Product: As AI increasingly automates product creation, the modern product-led founder must act more like an art curator than an artist. The ability to distinguish good products from bad ones is crucial.
• Customer Experience: AI will struggle to understand the human experience for years to come. Take Coachella: people spend thousands to stand in a sweaty crowd—listening to music they could stream for free at home—just to post on Instagram and boost their social status. What makes it successful? The organizers' taste in crafting a social event that feels both exclusive and unforgettable.
• Business Model: You can have the world's greatest product, but it's worthless if you get the pricing or distribution strategy wrong.

What's the takeaway here? Now, more than ever, it's time to become a tastemaker ??

P.S.

If you haven't visited my website yet ?? - check out my latest series on building your own micro private equity (PE) firm. I managed to write 4,000 words on this thrilling topic (especially for finance bros in Patagonia fleece vests). Even better, it's totally FREE—here are the first two pieces in the series:

1. playbook: micro private equity
2. deal sourcing in micro PE: building your pipeline

idea of the week ??

• Problem: Many small business owners struggle with financial forecasting and budgeting, often relying on gut feelings or their over-worked bookkeeper/accountant (who are often months behind on their books). This creates a "leaky bucket" where redundant expenses slip through the cracks—or worse, owners miss the metaphorical financial asteroid heading straight for their business.
• Idea: Create an AI-powered "Financial Fortune Teller" that combines historical business data, local market trends, and seasonal patterns to provide simple, actionable financial forecasts, alerts, and recommendations.
• How it makes money: Selling direct to business owners is challenging. A better approach is to make your app compatible with QuickBooks & Xero and offer it to accountants for a monthly add-on. As AI takes over number crunching, modern CPAs need to strengthen their worst skill - human relationships ??. Jokes aside—they'll need to provide more strategic advice to their clients, and your fortune teller can help them deliver this value.
• Why it might fail: Accountants are notoriously difficult to sell services to - you will need to show them how you can deliver value for their clients.

friday fitness*

*yes, this email was sent late (sue me). It just means you have to do one of these workouts TODAY:

at-home workout

Complete 3 rounds:

• 25 jumping jacks
• 12 chair dips
• 20 alternating lunges
• 45-second high plank hold

gym workout

5 sets of:

• Bench press: 8 reps
• Barbell rows: 10 reps
• Goblet squats: 12 reps
• Core rotations: 15 each side

outdoor workout

For time:

• Run 600m
• 25 walking lunges (each leg)
• 20 park bench step-ups (each leg)
• Run 600m

tweet of the week

the price vs. value equation is especially important when it comes to talent

my plugs

• Schedule a 15-minute consultation call to discuss buying or selling your business.
• Subscribe to my newsletter for weekly insights on business and founder fitness.
• Subscribe to Main Street Memo for the best tips on buying small businesses.
• Follow me on socials - X + insta + linkedin

every second counts