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I was most nervous about including "Focus on the right things" since it's such a wishy-washy idea. But I think it's core and comes from two camps that I really admire, Steve Blank with Customer Development and 37signals with Getting Real.
I love the "Greater Fool Theory". Well said. It is a great way to summarize the problems that exist with a lot of companies.
Great advice.

I had the pleasure of working at CrowdVine for some part of last year and I really learned a lot from Tony and the team there. Sometimes I missed them :P

Armando, thanks! It was so great to work with you as well. It'll take me all year to release your designs. Let me know if you ever have availability again. I would recommend you in an instant!
Error establishing a database connection.
This is actually a brilliant counter-example of what not to do. :D

I can think of many services that have rapidly outgrown their ability to serve pages to the users in a seamless fashion (people regularly complain about reddit, though I don't recall encountering it myself (but then I'm only on reddit rarely), and people complain about twitter (were they the guys with the fail whale?)). And various blogging software also spits its lunch (wordpress?)

Then you have MySQL which regularly died under load. I think it's better now than it used to be.

I guess the counter-counter example is that even if your technology foundations are crappy you can still become popular if the service is compelling enough to override minor quibbles like 'stability' and 'scalability' (don't tell the architects I said that :D )

Hm, got lucky after waiting a few minutes.
Sorry. I think the days of self-hosting my blog are over.
What's wrong with self-hosting?
My blog keeps falling over under load. It's not even particularly high load, front page of HN and a retweet by @timoreilly. But this is the second time this has happened. I already have my hand in managing services that have to withstand load, I don't need my blog to be one of them.
That sounds like a pretty awful blog engine... Are you using uncached wordpress or something? If so, just install a caching plugin and it will work fine.
It may go without saying, but this is also advice for an older entrepreneur.
I mostly meant young in experience. I'll have to revisit this when I'm older =)