Thrashing n. To expend a disproportionately high amount of energy relative to the quality of output you receive
When I was younger and looked at successful companies, I simply could not for the life of me understand how they ever went from NOTHING to what they were today. The modern equivalent would be like asking “How did Jamba Juice launch hundreds of stores across the country? How did that start?” It made sense to me that if you raised a massive amount of money and then immediately bought all the capital equipment and hired all the people you needed then you’d at least be capable of serving all the customers, and that the massive revenue from the customers would balance out your massive expenses…but how did it all come to be from NOTHING? It seemed like magic to me.
And from this line of thought I embarked on what I believe is the fundamental fallacy of entrepreneurial thinking: asking the question “what does a company need to do to succeed?”