This fantastic exchange between Jason Calacanis and a VC just helps prove what we were just talking about on this site. Execution matters. Or, as Jason puts it, business is about hustle, passion, and resiliency. Very well said.
It's weird how this theme keeps coming back. When I reviewed Naked In the Boardroom last month, the primary things I said I took from it were 1)be open and honest in business 2)you can learn as much (or more) from failures as you can mistakes. The month before, when I reviewed Starting Something, author Wayne McVicker told me the #1 thing an entrepreneur needs is persistence. I've really started to question whether or not you need a brilliant idea to start a successful business. Hardwork. Execution. Honesty. Embrace Failure. Be Persistent. These things keep coming up as I talk to entrepreneurs. So far I've yet to talk to anyone who said "well I had a great idea and it just took off." Maybe books on entrepreneurship are often celebrating the wrong things.