Tim Doyle

And Juniper is a phenomenal business, has like all of the characteristics of a great business.

We have to really work hard to build retention into that.

Then I guess like then our problem has been, we've had lots of good ideas, but they have all looked like poor businesses in relation to Juniper.

So Compound, which was kind of built up this idea of like that you would do preventative diagnostics and then treatments off the back of that, which I think like Evalab has become a good example of.

We kind of fucked around with that for too long and didn't really commit.

And that was a problem.

And then we had this other business which we started, which was essentially a

under the thesis of like, uh, vitamins are very confusing and the TikTokification of wellness, wellness has really like made it difficult to verify, um, and, and understand quality.

So we were going to do, um, this business, which essentially like verified vitamins and supplements, like third party verification of stuff.

And again, like it was a good, it was a good business, really promising.

And basically the trade that we have to do is more markets in Juniper versus more stuff and more markets in Juniper always looks better than more stuff in a capital constrained world.

And so in the context of advice for people thinking about starting a business, I really come back to like, what are these things that you know will be true about the world in the future?

or that you really strongly believe will be true.

And then you create margin of safety that way, right?

So like we made a lot of mistakes, but our initial beliefs about the world have proven to be very true.

And so really the, like the tail of the tape on this one is just like,

We were able to create enough margin of safety to find things that worked and then scale them.

And then our core insights were what drove enormous scale when we hit winners.

But failure, I think like getting in and doing it and making mistakes is like kind of half the fun.

Yeah, I had another view, which was essentially that targeted advertising would create like nichification in the internet.