Determination is great for investors because it increases the chance that they'll get a return. But the number of great ideas is x, and having a bunch of companies bound and determined to do something with x * 100 is relegating them to living under a horrible opportunity cost -- eating ramen for a subsistence profitability level when they could be doing something more interesting and profitable.
A company needs to eventually have an idea that's both unique and compelling. It should optimize on having a sustainable competitive advantage. Determination is incredibly important because few companies start out with the right mix and usually have to experiment to get it right, but let's not over-idealize it. All the determination in the world won't let you make a cake with sand and olive oil. A founder has to know "when to hold 'em and when to fold 'em."
A company needs to eventually have an idea that's both unique and compelling. It should optimize on having a sustainable competitive advantage. Determination is incredibly important because few companies start out with the right mix and usually have to experiment to get it right, but let's not over-idealize it. All the determination in the world won't let you make a cake with sand and olive oil. A founder has to know "when to hold 'em and when to fold 'em."