In Working Backwards, a book by former Amazon executives, Amazon founder Jeff Bezos was cited from his 2016 shareholder letter

“most decisions should probably be made with somewhere around 70% of the information you wish you had. If you wait for 90%, in most cases, you’re probably being slow.

Bryar, Colin; Carr, Bill. Working Backwards (p. 71). St. Martin's Publishing Group. Kindle Edition.

I literally read this as don't wait to be perfect, move fast. I'm sure most people read it like that too.

But, now I see the more crucial line is actually in the following line of the same quote.

Plus, either way, you need to be good at quickly recognizing and correcting bad decisions. If you’re good at course correcting, being wrong may be less costly than you think, whereas being slow is going to be expensive for sure.”

Bryar, Colin; Carr, Bill. Working Backwards (p. 71). St. Martin's Publishing Group. Kindle Edition.

Emphasis is mine.

It's clear to me the key foundational skill is actually course correcting. It doesn't matter whether you move fast or slow, if your course correcting radar is wonky.

And Bezos quote gave the definition of course correcting:

1. quickly recognizing bad decisions

2. quickly correcting bad decisions

If you combine with execution speed you get the following list of outcomes:

1. NO course correcting + move fast => Fast-moving disaster

2. NO course correcting + move slow => Slow disaster

3. GOOD course correcting + move fast => Ideal

4. GOOD course correcting + move slow => Slow

Ideally, we want 3. But still better to settle for 4 than 1 and 2.