Facts which were new for me:
- Dotcom - company main idea of which is based on operating only via internet
- Horizontal advancement - scaling existing technology, or globalization
- Vertical advancement - introducing new technology
- IPO - first time that the stock of private company is offered for selling to public

Main ideas:

- Horizontal advancement can not be done all the time without vertical advancement. You will get catastrophe if you scale American to India

- Investors focused on horizontal advancement after collapse of dotcoms:
    - grow slowly
    - stay thrifty
    - focus on businesses with high competition level. Low competition level might mean absence of clients
    - focus on product, not on sales

- Correct conclusions from dotcoms collapse:
    - high risk is better then low risk, I am not sure about this conclusion
    - bad plan is better then no plan
    - competition destroys revenue
    - sales are as important as product quality

- Capitalism and competition are different things, capitalism means collecting money, and competition burns money

- Cost of production of every next sample of product is going to zero in case of monopolistic company. This is especially valid for software monopolies.

- network businesses should start from limited focus groups

- Overall revenue from each attracted client should be larger then total marketing expanses for this client.

- Small and medium size businesses are located in dead zone of marketing. If your clients belong to small and medium businesses you will need sales department to work with them, but the revenue generated during client lifecycle will be lower then you marketing expanses. And common advertisement will not work for them at all.

- You have to give answers to following questions before starting a new company:
    - Are you able to create a new technology instead of adding new improvements to existing one? Author believes in idea that it is not possible to build a great company based on old technologies. In this case you will have to compete with other companies in market. Your technology has to be at least 10x times more effective then existing technologies. Sales managers from other companies usually give 20% more advantagies to their technologies. So your technology has to be obviously better to avoid competition with existing companies.
    - Is it a good time to start your business?
    - Are you going to start with building monopoly inside a small market?
    - Do you have a good team?
    - Do you have a possibility to sell product which you have created?
    - Will your company still be alive in 10 or 20 years?
    - Do you know anything what other people do not know?