.@jmj on why most pivots don’t go far enough: "There's a lot of companies who do a similar thing. They'll do a soft pivot, or an adjacent pivot that's one deviation away from what they're currently doing. When actually, probably the right thing if you're going to pivot, is to actually re-found the company. And that might mean doing something radically different from what you're doing today. The mistake people make when they're pivoting, whether it's their company, their venture firm, their careers, is not being bold enough about what that new direction might be. It's primarily because it's almost like an admission that what you were doing before is wrong. Which might not be the case. It might just be that what you were doing before is no longer the right strategy going forward. You're not underwriting your historical decision-making. You're taking a forward-looking view on what is happening in the world and how you should position your firm or your company. That's what I think people get wrong."