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A MASTER operator and investor: @rabois
Yesterday: @chamath’s SPAC merger with @Opendoor
Today I inhaled Keith’s podcasts:
• @APompliano
• @eriktorenberg
• @Jason
• @david_perell
• @Patrick_oshag
• @AdamDraper
Here are 10 of his most IMPACTFUL ideas
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Yesterday: @chamath’s SPAC merger with @Opendoor
Today I inhaled Keith’s podcasts:
• @APompliano
• @eriktorenberg
• @Jason
• @david_perell
• @Patrick_oshag
• @AdamDraper
Here are 10 of his most IMPACTFUL ideas
1/ Who is @rabois?
• Political Science at Stanford, Harvard Law
• Exec at @PayPal @LinkedIn @Square
• PayPal Mafia with @elonmusk, @peterthiel, @reidhoffman, @mlevchin
• Investor @Airbnb, @YouTube, @stripe, @DoorDash
• Partner @foundersfund, Founder @Opendoor
• Political Science at Stanford, Harvard Law
• Exec at @PayPal @LinkedIn @Square
• PayPal Mafia with @elonmusk, @peterthiel, @reidhoffman, @mlevchin
• Investor @Airbnb, @YouTube, @stripe, @DoorDash
• Partner @foundersfund, Founder @Opendoor
2/ Barrels vs. Ammunition
• Barrels: people that take ideas from conception to shipping
• Ammunition: people that can execute a given task
• A company’s output is tied to the number of barrels
Find barrels by constantly expanding scope of responsibilities for employees
• Barrels: people that take ideas from conception to shipping
• Ammunition: people that can execute a given task
• A company’s output is tied to the number of barrels
Find barrels by constantly expanding scope of responsibilities for employees
3/ Hiring
• Hire aptitude for upside and experience for mitigating risk
• Focus on finding and hiring undiscovered talent
• Interview question: “If you were a product, how would you describe your value proposition”
• Hire aptitude for upside and experience for mitigating risk
• Focus on finding and hiring undiscovered talent
• Interview question: “If you were a product, how would you describe your value proposition”
4/ @rabois’s Investment Criteria
What is anomalous?
What ‘secret’ is the company predicated on?
Could this be 1 of the most important companies on the planet?
What is the accumulating advantage?
Can the founder attract the right talent?
Our investor comparative advantage?
What is anomalous?
What ‘secret’ is the company predicated on?
Could this be 1 of the most important companies on the planet?
What is the accumulating advantage?
Can the founder attract the right talent?
Our investor comparative advantage?
5/ Delayed Gratification
• Keys to success aren’t secret, they’re just painful
• It’s all about deferring immediate for delayed gratification
• “Can you trade long-term gratification for short term sacrifice, and can you compress the feedback loop?”
• Keys to success aren’t secret, they’re just painful
• It’s all about deferring immediate for delayed gratification
• “Can you trade long-term gratification for short term sacrifice, and can you compress the feedback loop?”
6/ Accumulating Advantages: as a company gets better/grows, it becomes easier to run
• Eventually B-B+ players can run the company, because it’s so strong you don’t need heroic efforts of talented people
• Why does it become easier? Trust and increased credibility
• Eventually B-B+ players can run the company, because it’s so strong you don’t need heroic efforts of talented people
• Why does it become easier? Trust and increased credibility
7/ Successful people
• People that change the world have extreme talent in 1-2 dimensions, then a screw loose in 1-2 dimensions
• Excellent at prioritization and allocating their time
• Ask “How and why are they successful”: Decompose it and try to emulate that
• People that change the world have extreme talent in 1-2 dimensions, then a screw loose in 1-2 dimensions
• Excellent at prioritization and allocating their time
• Ask “How and why are they successful”: Decompose it and try to emulate that
8/ Valuing your time
• Be aware of what you’re consuming and how to get the most possible leverage out of that time
• Spend time with people that are smarter and more successful than you
• Consume more content that’s stood the test of time
• Be aware of what you’re consuming and how to get the most possible leverage out of that time
• Spend time with people that are smarter and more successful than you
• Consume more content that’s stood the test of time
9/ “People who are naive about markets, do better than those with experience.”
• @patrickc with @stripe
• @elonmusk knew nothing about cars before @Tesla
• @rabois knew nothing about real estate before @Opendoor
With industry experience, less ‘WHY?’ questions
• @patrickc with @stripe
• @elonmusk knew nothing about cars before @Tesla
• @rabois knew nothing about real estate before @Opendoor
With industry experience, less ‘WHY?’ questions
10/ You don’t discover a startup market, you create it.
“You imagine a better future, you create it, and then you sell tickets” - @rabois
Very different than the @ycombinator method
“You imagine a better future, you create it, and then you sell tickets” - @rabois
Very different than the @ycombinator method
11/ If you want to learn more from @rabois, he started a short form podcast on @NuggetAudio called “How to Build an Iconic Company” https://www.youtube.com/watch?v=SBuizL071rE&list=PL__mLVkEYIvwv61O6ohmAv2rE2X8ScP7b&index=1">https://www.youtube.com/watch...
12/ @chamath’s investment thesis for @Opendoor https://twitter.com/chamath/status/1305837931710480387?s=20">https://twitter.com/chamath/s...
13/ Sources:
https://open.spotify.com/episode/4DwtIEbsTPi7Il9y56XdYG
https://open.spotify.com/episode/4... href=" https://www.perell.com/podcast/keith-rabois
https://www.perell.com/podcast/k... href=" http://investorfieldguide.com/rabois/ ">https://investorfieldguide.com/rabois/&q...
https://open.spotify.com/episode/4DwtIEbsTPi7Il9y56XdYG
14/ Sources (cont.)
https://thisweekinstartups.com/keith-rabois-part1/
https://thisweekinstartups.com/keith-rab... href="
https://www.youtube.com/watch... href=" https://open.spotify.com/episode/4Hkz6dIZ9xNSBmwfromfRq?si=lwplKaoHRsiNJmYgdcEj8w">https://open.spotify.com/episode/4...
https://thisweekinstartups.com/keith-rabois-part1/
