Transcript for accessibility purposes:
"If you are not embarrassed by the first version of your product, you've launched too late."
Reid Hoffman, co-founder of LinkedIn
I'm a very "light" user of LinkedIn and use it very casually but there is no denying it's a huge success. I got a job because of LinkedIn and every now and then someone approaches me about an opportunity so it's clear that the product "does its job".
I also don't know much about Reid Hoffman and before stumbling upon this quote, I had no idea he was the co-founder of LinkedIn. Regardless of who he is, however, this quote is very much on the spot.
As a business owner in the tech industry, I see that all the time among my peers and competitors and it's something I'm always thinking about for my own business.
In this industry, especially if you are a startup (which seems to be most of the cases these days), timing is everything. Not only because most startups only have so much cash to burn before they run out but also because if you delay your launch too much, someone may beat to it or the idea can lose momentum and then you are dead in the water.
That's why there is a thing called minimum viable product, or MVP. I don't know/remember how LinkedIn looked like when it first launched but I'm sure it was nothing like what it is today.
Don't hold on to an idea for too long. Find that MVP, launch it and then improve it.