I think the most delegated of these lessons is controlling the burn rate. It's so easy to run with every new idea no matter what it costs. The problem is that if you spend everything on long bets, you lose money that could be spent on the core product.

If you don't have any secondary costs this is true.

A lot of web companies still need to "pay the rent" or other variable costs. Even without that, don't forget that revenue gives you a huge leg up when searching for funding.