This document summarizes lessons learned from participating in Launch48, a 48-hour event to build the skeleton of a web business. The author notes that while the event was good for building a team and coming up with ideas, development skills are critical. Key lessons included tailoring pitches to be appealing, sharing ideas openly while protecting intellectual property, and iterating continuously after the event rather than losing momentum. Mentors provided valuable help, but the team didn't fully leverage past work. Maintaining excitement over the full period was also a challenge.