 We've been constantly fed this misconception that ideas do not matter, and execution is actually everything. Entrepreneurs, investors, billionaires, they each come and serve some variation of the same dish. And they say that people can come up with good ideas and great ideas every single day, but execution is the part where you people usually get stuck. And while I do agree to some degree, execution is not actually everything. And that is because execution is tied to having good ideas. It is quite easy for a billionaire to say that execution is everything, as the billionaire will have the means to swiftly build a team that can bring the idea to life. And the billionaire will always hunt for good ideas. And this is why it is much easier to say that ideas don't matter and that you people should get to work. But getting to work having a bad idea as a basis will usually lead to failure, which will also feed back into the execution is everything that matters part, which again is not entirely true and oftentimes is misleading and a vicious circle. So let's use a quick example. I want to talk to you today about toilets. A few years back, the Bill and Melinda Gates Foundation organized a contest called The Reinvent the Toilet Challenge, where researchers had to come up with innovative approaches which is based on fundamental engineering processes for the safe and sustainable management of human waste. And the challenge was building a toilet that removes germs from human waste and recovers valuable resources such as energy, clean water and nutrients, operates off the grid without connections to water, sewer or electrical lines, costs less than 0.0 cents per user per day, promotes sustainable and financially profitable sanitation services and businesses that operate in poor urban settings, and finally is a truly aspirational next-generation product that everyone will want to use in developed as well as developing nations. Okay, so if I have to follow the execution is everything advice, I have everything I need, right? I have my task list, I have my list of constraints, and what I can do next is essentially get to work. Actually, the constraints were here long before the contest, but no one took the initiative, the global initiative to put them on paper. And the fact that one now has an incentive and an important figure leading the movement, a figure having the means to take the execution to the next level, people will start facing problems with the idea generation part. Because again, it's much easier to say that I don't have the capacity to execute, but I do have a lot of ideas. Now, if you have more teams working on the same problem where solution variations are constantly being tested, this is when the execution matters part comes to life with new elements such as context, random events, and why not luck constantly being added into the mix. And here we do indeed have the big problem we need to solve, but we need good ideas on how to solve the micro problems, the constraints, good ideas serving a solid basis for potential success and then you can add the speed of execution into the mix. And good ideas are kind of hard to come by mostly because they actually need to pass through a lot of doors. One cannot simply have a great idea just by simply looking at the sky all day. To generate good ideas, one needs to engage in some capacity with the world. One needs to ingest, digest, absorb, listen, and accept criticism, and one also needs time to think. So the next time someone starts regurgitating this over concentrated pop culture sort of platitude, simply remember that good ideas and solutions to problems are only obvious in retrospect and that execution is and will always be dependent and linked on having great ideas.