[ajhit406]

Entrepreneurship is more about conviction, determination, and will than ideas and market opportunities.

To me, this letter is basically saying you're just not up for the challenge. That's fine -- it's certainly better to admit it now, and it's likely a rational decision.

But the best companies usually aren't created by rational thinkers. The best entrepreneurs can take a horribly broken system and contort it in ways that nobody else even thought of, and then execute on a vision to make it the new reality.

You're not telling your investors "this market is too tough, let's not go here", you're basically just saying "This market really needs to be un-fucked, but I'm not the guy to do it".

Nothing wrong with that, let's tell it how it is.

[alexdevkar]

I believe your generalizations go too far. The "crazy" founder who succeeds despite all odds is only one archetype. There are others. Many outliers are successful by creating new markets.

This guy (T.A. McCann) has successfully built and sold a startup, so he doesn't lack the will -- he just lacks the will for this business.

Markets can be so tough that the time/cash/energy to succeed in them means the opportunity is not as attractive as others.

[rokhayakebe]

Actually entrepreneurship is ALL about market opportunities and ideas. All you do is maximize all the odds and leverage everything you have for a win. Winning is all that matters, and winning as big as you can.

Now if you want to take on a big challenge, change the world, and build something magical, you can and you should. However none of these are required, and each of these is more likely to be a problem.