I will humbly give my POV on this. I also never understood the VC verbiage until after I “launched”. Now here is what I understand after coming forward with a business idea: the formula for “success” is being able to “uncover” a market request for a product/service and SELL that product/service to them. In this regard idea = market_need = make_something_people_want. Therefore, to me ideas AND execution are EVERYTHING. I think what people mean is that “talking” about an idea is not sufficient. I strongly disagree that ideas are cheap, as I disagree that execution is a given. I believe ideas are oxygen, execution is hydrogen, what you want is water…