Many authors and industry experts on the web have been preaching the release fast, fail fast model.

The main mantra was: start working on a project, run it for a few months, see if it works and stick with it only if it grows like crazy as an overnight success. Otherwise just kill the project and move on.

I disagree, totally. Ideas need time to evolve and grow up to an inflection point where they become really strong and viable as products. A product needs to mature with usage and that, can not be done overnight. Secondly, a great team can only be built through time, by winning a few battles together.

Think of Rovio, OMGPOP, Fab, Pinterest and many other “overnight successes” that took 3, 4, or 5 years of hard work.