and I think people’s skills tend to be highly underestimated in terms of kind
highly underestimated in terms of kind
highly underestimated in terms of kind of just ability to run a company guys
of just ability to run a company guys
of just ability to run a company guys I’m gonna major in computer science and
I’m gonna major in computer science and
I’m gonna major in computer science and one of my friends said wow that’s the
one of my friends said wow that’s the
one of my friends said wow that’s the stupidest thing I’ve ever heard
stupidest thing I’ve ever heard
stupidest thing I’ve ever heard like it come at me again you would not a
like it come at me again you would not a
like it come at me again you would not a misquote me I can’t wait to kill you our
misquote me I can’t wait to kill you our
misquote me I can’t wait to kill you our goal is to be the most important venture
goal is to be the most important venture
goal is to be the most important venture capital firm in the world following your
capital firm in the world following your
capital firm in the world following your passion is a very me-centered view of
passion is a very me-centered view of
passion is a very me-centered view of the world work is what’s important
the world work is what’s important
the world work is what’s important it’s that effort where you learn the
it’s that effort where you learn the
it’s that effort where you learn the secrets I wanted to quit every day who’s
secrets I wanted to quit every day who’s
secrets I wanted to quit every day who’s in that job I felt like throwing up when
in that job I felt like throwing up when
in that job I felt like throwing up when I woke up in the morning but you only
I woke up in the morning but you only
I woke up in the morning but you only get leverage if the person that you hire
get leverage if the person that you hire
get leverage if the person that you hire can do it better than you can if you’re
can do it better than you can if you’re
can do it better than you can if you’re a technology entrepreneur like you’ve
a technology entrepreneur like you’ve
a technology entrepreneur like you’ve got every opportunity to make like a
got every opportunity to make like a
got every opportunity to make like a gazillion dollars like all the VCS and
gazillion dollars like all the VCS and
gazillion dollars like all the VCS and everybody tells me you know bending you
everybody tells me you know bending you
everybody tells me you know bending you know what the key to a great company is
know what the key to a great company is
know what the key to a great company is you know hire a players he’s an American
you know hire a players he’s an American
you know hire a players he’s an American businessman investor blogger and author
businessman investor blogger and author
businessman investor blogger and author he’s the co-founder of a venture capital
he’s the co-founder of a venture capital
he’s the co-founder of a venture capital firm that bears his name he co-founded
firm that bears his name he co-founded
firm that bears his name he co-founded the enterprise software company Opsware
the enterprise software company Opsware
the enterprise software company Opsware that Hewlett Packard acquired from 1.6
that Hewlett Packard acquired from 1.6
that Hewlett Packard acquired from 1.6 billion dollars he’s Ben Horowitz and
billion dollars he’s Ben Horowitz and
billion dollars he’s Ben Horowitz and here his top 10 rules for success
yeah so you know in the world of
yeah so you know in the world of entrepreneurship the big skills are kind
entrepreneurship the big skills are kind
entrepreneurship the big skills are kind of programming skills and people skills
of programming skills and people skills
of programming skills and people skills like those are the big two and I think
like those are the big two and I think
like those are the big two and I think people’s skills tend to be highly
people’s skills tend to be highly
people’s skills tend to be highly underestimated in terms of kind of just
underestimated in terms of kind of just
underestimated in terms of kind of just ability to run a company and so forth
ability to run a company and so forth
ability to run a company and so forth and what I mean by people’s skills is
and what I mean by people’s skills is
and what I mean by people’s skills is the ability to understand other people’s
the ability to understand other people’s
the ability to understand other people’s motivation and other people’s motivation
motivation and other people’s motivation
motivation and other people’s motivation so you’re talking to and then who you’re
so you’re talking to and then who you’re
so you’re talking to and then who you’re also not talking to and how they’re
also not talking to and how they’re
also not talking to and how they’re going to think about something and where
going to think about something and where
going to think about something and where they’re coming from and relate to that
they’re coming from and relate to that
they’re coming from and relate to that in a way that gets you to the right
in a way that gets you to the right
in a way that gets you to the right conclusion about how you build an
conclusion about how you build an
conclusion about how you build an organization or build a company or or
organization or build a company or or
organization or build a company or or you know make a deal or any of these
you know make a deal or any of these
you know make a deal or any of these kinds of things is incredibly valuable
kinds of things is incredibly valuable
kinds of things is incredibly valuable and that’s what I would say most the
and that’s what I would say most the
and that’s what I would say most the kind of good entrepreneurs end up
kind of good entrepreneurs end up
kind of good entrepreneurs end up lacking more than the technical skills
lacking more than the technical skills
lacking more than the technical skills that we see now like being like a boss
that we see now like being like a boss
that we see now like being like a boss level engineer like that’s extremely
level engineer like that’s extremely
level engineer like that’s extremely valuable I’m not discounting that but
valuable I’m not discounting that but
valuable I’m not discounting that but that that’s really the other big big
that that’s really the other big big
that that’s really the other big big skill that you can learn and I was just
skill that you can learn and I was just
skill that you can learn and I was just so excited to tell my friends I was like
so excited to tell my friends I was like
so excited to tell my friends I was like man they’re gonna be just like so fired
man they’re gonna be just like so fired
man they’re gonna be just like so fired up for me I figured it out I’m not gonna
up for me I figured it out I’m not gonna
up for me I figured it out I’m not gonna be stressed anymore and I’m like guys
be stressed anymore and I’m like guys
be stressed anymore and I’m like guys I’m gonna major in computer science and
I’m gonna major in computer science and
I’m gonna major in computer science and one of my friends said wow that’s the
one of my friends said wow that’s the
one of my friends said wow that’s the stupidest thing I’ve ever heard
stupidest thing I’ve ever heard
stupidest thing I’ve ever heard and I’m like why he’s like you’re at
and I’m like why he’s like you’re at
and I’m like why he’s like you’re at Columbia University that’s like a trade
Columbia University that’s like a trade
Columbia University that’s like a trade you can learn that at DeVry they’ll
you can learn that at DeVry they’ll
you can learn that at DeVry they’ll teach you how to build computers fixham
teach you how to build computers fixham
teach you how to build computers fixham program like you should major in
program like you should major in
program like you should major in something real and I was just thinking
something real and I was just thinking
something real and I was just thinking to myself I was like I’m talking about a
to myself I was like I’m talking about a
to myself I was like I’m talking about a limitless machine you’re like talking
limitless machine you’re like talking
limitless machine you’re like talking about a washing machine
but I was so frustrated I couldn’t even
but I was so frustrated I couldn’t even really explain to him why but it was at
really explain to him why but it was at
really explain to him why but it was at that point at my like height of
that point at my like height of
that point at my like height of frustration that I learned the most
frustration that I learned the most
frustration that I learned the most valuable lesson that I learned at
valuable lesson that I learned at
valuable lesson that I learned at Columbia which is don’t listen to your
Columbia which is don’t listen to your
Columbia which is don’t listen to your friends
and the more the more generalized the
and the more the more generalized the more generalized case of don’t listen to
more generalized case of don’t listen to
more generalized case of don’t listen to your friends is think for yourself and
your friends is think for yourself and
your friends is think for yourself and thinking for yourself sounds both simple
thinking for yourself sounds both simple
thinking for yourself sounds both simple and trivial but in reality it’s
and trivial but in reality it’s
and trivial but in reality it’s extremely difficult and it’s profound
extremely difficult and it’s profound
extremely difficult and it’s profound and here’s why as human beings we want
and here’s why as human beings we want
and here’s why as human beings we want to be liked
to be liked
to be liked it’s anthropological if people didn’t
it’s anthropological if people didn’t
it’s anthropological if people didn’t like you in caveman days they would just
like you in caveman days they would just
like you in caveman days they would just eat you so you really have a natural
eat you so you really have a natural
eat you so you really have a natural built-in instinct to want to be liked
built-in instinct to want to be liked
built-in instinct to want to be liked and the easiest way to be liked is to
and the easiest way to be liked is to
and the easiest way to be liked is to tell people what they want to hear and
tell people what they want to hear and
tell people what they want to hear and you know what everybody wants to hear
you know what everybody wants to hear
you know what everybody wants to hear what they already believe to be true and
what they already believe to be true and
what they already believe to be true and so the last thing they want to hear is
so the last thing they want to hear is
so the last thing they want to hear is an original idea that contradicts their
an original idea that contradicts their
an original idea that contradicts their belief system so it’s very hard to even
belief system so it’s very hard to even
belief system so it’s very hard to even bring that kind of stuff up but those
bring that kind of stuff up but those
bring that kind of stuff up but those are the things those are the only things
are the things those are the only things
are the things those are the only things things that you believe that everybody
things that you believe that everybody
things that you believe that everybody around you doesn’t believe when you’re
around you doesn’t believe when you’re
around you doesn’t believe when you’re right that create real value in the
right that create real value in the
right that create real value in the world everything else people already
world everything else people already
world everything else people already know there’s no value created it’s just
know there’s no value created it’s just
know there’s no value created it’s just business as usual so it’s so important
business as usual so it’s so important
business as usual so it’s so important to think for yourself how do you get
to think for yourself how do you get
to think for yourself how do you get along with other VCS
along with other VCS
along with other VCS so this is funny so I got along with
so this is funny so I got along with
so this is funny so I got along with them very well alright so there are VCS
them very well alright so there are VCS
them very well alright so there are VCS that are that I really really like Anil
that are that I really really like Anil
that are that I really really like Anil Boozer II is one of them who I work with
Boozer II is one of them who I work with
Boozer II is one of them who I work with all the time on various deals I just I
all the time on various deals I just I
all the time on various deals I just I just got off the phone with ditch line
just got off the phone with ditch line
just got off the phone with ditch line where I get along with very very well so
where I get along with very very well so
where I get along with very very well so there are a lot of there are a lot of
there are a lot of there are a lot of
there are a lot of there are a lot of VCS I get along with I’m a bad cultural
VCS I get along with I’m a bad cultural
VCS I get along with I’m a bad cultural fit for investing you may have noticed
fit for investing you may have noticed
fit for investing you may have noticed and and then there’s a good reason for
and and then there’s a good reason for
and and then there’s a good reason for this so investor if you think about the
this so investor if you think about the
this so investor if you think about the investing environment it’s this weird
investing environment it’s this weird
investing environment it’s this weird coopertition thing because you compete
coopertition thing because you compete
coopertition thing because you compete for deals but you work on deals together
for deals but you work on deals together
for deals but you work on deals together so you’re kind of partners but your
so you’re kind of partners but your
so you’re kind of partners but your competitors and I don’t come from that
competitors and I don’t come from that
competitors and I don’t come from that culture they come from enterprise
culture they come from enterprise
culture they come from enterprise software right like you know who the top
software right like you know who the top
software right like you know who the top dog in enterprise software is Larry
dog in enterprise software is Larry
dog in enterprise software is Larry Ellison right like ain’t no co-op
Ellison right like ain’t no co-op
Ellison right like ain’t no co-op petition and Larry Ellison
petition and Larry Ellison
petition and Larry Ellison right like all you have to do is mention
right like all you have to do is mention
right like all you have to do is mention like anybody’s close to a competitor and
like anybody’s close to a competitor and
like anybody’s close to a competitor and it’s like a hit will blow off like and
it’s like a hit will blow off like and
it’s like a hit will blow off like and he’ll go like bananas like in Borneo we
he’ll go like bananas like in Borneo we
he’ll go like bananas like in Borneo we saw that at deep absolutely bananas it’s
saw that at deep absolutely bananas it’s
saw that at deep absolutely bananas it’s like its own baby
like its own baby
like its own baby you stepped on my shoes let’s go and so
you stepped on my shoes let’s go and so
you stepped on my shoes let’s go and so you know you know for me and then you
you know you know for me and then you
you know you know for me and then you know also I listen to little wheezy and
so sometimes you know the venture
so sometimes you know the venture capitalist will come at me you know
capitalist will come at me you know
capitalist will come at me you know being friendly hey you know what the
being friendly hey you know what the
being friendly hey you know what the peace sign and you know to me the peace
peace sign and you know to me the peace
peace sign and you know to me the peace sign is just the trigger and the middle
sign is just the trigger and the middle
sign is just the trigger and the middle finger you know
that’s from Weezy does it does it bother
that’s from Weezy does it does it bother you when they talk about you
you when they talk about you
you when they talk about you because they don’t do it to your face
because they don’t do it to your face
because they don’t do it to your face they do it’s people like anonymous so
they do it’s people like anonymous so
they do it’s people like anonymous so yeah so that was a you’re alluding a
yeah so that was a you’re alluding a
yeah so that was a you’re alluding a little bit to when I called them
little bit to when I called them
little bit to when I called them crybabies
crybabies
crybabies which gets actually another thing the
which gets actually another thing the
which gets actually another thing the one thing that does bother me a little
one thing that does bother me a little
one thing that does bother me a little bit about some VCS and some angels so
bit about some VCS and some angels so
bit about some VCS and some angels so one of the things that’s happened a lot
one of the things that’s happened a lot
one of the things that’s happened a lot since we’ve been in the industry is we
since we’ve been in the industry is we
since we’ve been in the industry is we get a lot of people calling the press
get a lot of people calling the press
get a lot of people calling the press anonymously there are probably more
anonymously there are probably more
anonymously there are probably more anonymous quotes about us in the press
anonymous quotes about us in the press
anonymous quotes about us in the press and any other like entity right now and
and any other like entity right now and
and any other like entity right now and Sarah calls me up and she goes Ben I got
Sarah calls me up and she goes Ben I got
Sarah calls me up and she goes Ben I got a tip from six different anonymous
a tip from six different anonymous
a tip from six different anonymous angels saying that you’re doing this and
angels saying that you’re doing this and
angels saying that you’re doing this and I’m going if they don’t like what I’m
I’m going if they don’t like what I’m
I’m going if they don’t like what I’m doing why don’t they just come out and
doing why don’t they just come out and
doing why don’t they just come out and say it
say it
say it hey you know like if I don’t like
hey you know like if I don’t like
hey you know like if I don’t like something somebody’s doing I just come
something somebody’s doing I just come
something somebody’s doing I just come outside put my name on it
outside put my name on it
outside put my name on it and the reason that bothers me so much
and the reason that bothers me so much
and the reason that bothers me so much is the number one thing we look for in
is the number one thing we look for in
is the number one thing we look for in an entrepreneur and the number one thing
an entrepreneur and the number one thing
an entrepreneur and the number one thing that I encourage and I try and help
that I encourage and I try and help
that I encourage and I try and help people develop his courage and the
people develop his courage and the
people develop his courage and the reason that that’s important and it’s
reason that that’s important and it’s
reason that that’s important and it’s very very important and it goes back to
very very important and it goes back to
very very important and it goes back to Aristotle so Aristotle said courage is
Aristotle so Aristotle said courage is
Aristotle so Aristotle said courage is the first virtue and the reason it’s the
the first virtue and the reason it’s the
the first virtue and the reason it’s the first virtue is if you don’t have it
first virtue is if you don’t have it
first virtue is if you don’t have it then you don’t have any virtue because
then you don’t have any virtue because
then you don’t have any virtue because all these other things honesty integrity
all these other things honesty integrity
all these other things honesty integrity you know whatever
you know whatever
you know whatever don’t ever get activated if in when
don’t ever get activated if in when
don’t ever get activated if in when they’re important if you don’t have
they’re important if you don’t have
they’re important if you don’t have cards it’s easy to be honest unless it’s
cards it’s easy to be honest unless it’s
cards it’s easy to be honest unless it’s gonna cost you your job or your marriage
gonna cost you your job or your marriage
gonna cost you your job or your marriage or something you care about then it’s
or something you care about then it’s
or something you care about then it’s hard to be honest so without courage
hard to be honest so without courage
hard to be honest so without courage like you don’t have any of you don’t
like you don’t have any of you don’t
like you don’t have any of you don’t have integrity you don’t have anything
have integrity you don’t have anything
have integrity you don’t have anything you’re you’re just like the you’re a
you’re you’re just like the you’re a
you’re you’re just like the you’re a zero character person and so when people
zero character person and so when people
zero character person and so when people who are supposed to be coaching
who are supposed to be coaching
who are supposed to be coaching entrepreneurs angel investors or feces
entrepreneurs angel investors or feces
entrepreneurs angel investors or feces walk around giving anonymous tips to
walk around giving anonymous tips to
walk around giving anonymous tips to like reporters about stuff they don’t
like reporters about stuff they don’t
like reporters about stuff they don’t think is right like and those guys are
think is right like and those guys are
think is right like and those guys are advising the people who I’m working with
advising the people who I’m working with
advising the people who I’m working with like that really like you know that
like that really like you know that
like that really like you know that that’s something that like piss me off
that’s something that like piss me off
that’s something that like piss me off so like I’m not having it and like i’ma
so like I’m not having it and like i’ma
so like I’m not having it and like i’ma call them on it like they come at me
call them on it like they come at me
call them on it like they come at me again you anonymous code
again you anonymous code
again you anonymous code I can’t wait to get a lock kill you are
I can’t wait to get a lock kill you are
I can’t wait to get a lock kill you are tomorrow did you imagine you’d be
tomorrow did you imagine you’d be
tomorrow did you imagine you’d be managing almost 5 billion so like one of
managing almost 5 billion so like one of
managing almost 5 billion so like one of the things we knew from being
the things we knew from being
the things we knew from being entrepreneurs and this is this is a very
entrepreneurs and this is this is a very
entrepreneurs and this is this is a very very key point in entrepreneurship is
very key point in entrepreneurship is
very key point in entrepreneurship is that it is just as much work and just as
that it is just as much work and just as
that it is just as much work and just as traumatic to build a company that’s
traumatic to build a company that’s
traumatic to build a company that’s trivial and nobody cares about than it
trivial and nobody cares about than it
trivial and nobody cares about than it is to build like a really significant
is to build like a really significant
is to build like a really significant important thing like it’s the same
important thing like it’s the same
important thing like it’s the same amount of work so you might as well try
amount of work so you might as well try
amount of work so you might as well try to do something important and so that
to do something important and so that
to do something important and so that was always I thought with the firm we
was always I thought with the firm we
was always I thought with the firm we were like we are gonna like our goal is
were like we are gonna like our goal is
were like we are gonna like our goal is to be the most important venture capital
to be the most important venture capital
to be the most important venture capital firm in the world and you know like it’s
firm in the world and you know like it’s
firm in the world and you know like it’s a completely megalomaniacal and arrogant
a completely megalomaniacal and arrogant
a completely megalomaniacal and arrogant and idiotic but that’s like if you don’t
and idiotic but that’s like if you don’t
and idiotic but that’s like if you don’t have that attitude as an entrepreneur
have that attitude as an entrepreneur
have that attitude as an entrepreneur like you should not be an entrepreneur
like you should not be an entrepreneur
like you should not be an entrepreneur so yeah we were always gonna be the
so yeah we were always gonna be the
so yeah we were always gonna be the biggest we were always gonna be the best
biggest we were always gonna be the best
biggest we were always gonna be the best and that that was the goal and there was
and that that was the goal and there was
and that that was the goal and there was no reason to exist if we weren’t going
no reason to exist if we weren’t going
no reason to exist if we weren’t going to do that what I’d like to give is a
to do that what I’d like to give is a
to do that what I’d like to give is a few unconventional graduation thoughts
few unconventional graduation thoughts
few unconventional graduation thoughts and I’m titling them do not follow your
and I’m titling them do not follow your
and I’m titling them do not follow your passion and the world is not going to
passion and the world is not going to
passion and the world is not going to hell in a house but hell in a handbasket
hell in a house but hell in a handbasket
hell in a house but hell in a handbasket and the class of 2015 is not required to
and the class of 2015 is not required to
and the class of 2015 is not required to save it I told you it was gonna be
save it I told you it was gonna be
save it I told you it was gonna be unconventional so don’t follow your
unconventional so don’t follow your
unconventional so don’t follow your passion now you’re probably thinking
passion now you’re probably thinking
passion now you’re probably thinking that’s a really dumb idea because
that’s a really dumb idea because
that’s a really dumb idea because everybody who’s successful and if you
everybody who’s successful and if you
everybody who’s successful and if you Paul a thousand people are successful
Paul a thousand people are successful
Paul a thousand people are successful they’ll all say that they love what they
they’ll all say that they love what they
they’ll all say that they love what they do and so the broad conclusion of the
do and so the broad conclusion of the
do and so the broad conclusion of the world is that if you do what you love
world is that if you do what you love
world is that if you do what you love then you’ll be successful but we’re
then you’ll be successful but we’re
then you’ll be successful but we’re engineers and we know that that might be
engineers and we know that that might be
engineers and we know that that might be true but it all smells it might be the
true but it all smells it might be the
true but it all smells it might be the case that if you’re successful you love
case that if you’re successful you love
case that if you’re successful you love what you do you just love being
what you do you just love being
what you do you just love being successful and everybody loves you it’s
successful and everybody loves you it’s
successful and everybody loves you it’s awesome
so which one is it
so which one is it well I think the figure it out you kind
well I think the figure it out you kind
well I think the figure it out you kind of have to go back in time you have to
of have to go back in time you have to
of have to go back in time you have to back off when you were successful too
back off when you were successful too
back off when you were successful too like right now when you’re graduating as
like right now when you’re graduating as
like right now when you’re graduating as the class of 2015 and the first tricky
the class of 2015 and the first tricky
the class of 2015 and the first tricky thing about passions are they’re hard to
thing about passions are they’re hard to
thing about passions are they’re hard to prioritize which passion is it are you
prioritize which passion is it are you
prioritize which passion is it are you more passionate about math or
more passionate about math or
more passionate about math or engineering are you more passionate
engineering are you more passionate
engineering are you more passionate passionate about history or literature
passionate about history or literature
passionate about history or literature are you more passionate about video
are you more passionate about video
are you more passionate about video games or kpop these are tough decisions
games or kpop these are tough decisions
games or kpop these are tough decisions how do you even know on the other hand
how do you even know on the other hand
how do you even know on the other hand what do you get at are you better at
what do you get at are you better at
what do you get at are you better at math or writing that’s a much easier
math or writing that’s a much easier
math or writing that’s a much easier thing to figure out the second thing
thing to figure out the second thing
thing to figure out the second thing that’s tricky if you’re going forward in
that’s tricky if you’re going forward in
that’s tricky if you’re going forward in time with this follow your passion idea
time with this follow your passion idea
time with this follow your passion idea is that what you’re passionate about
is that what you’re passionate about
is that what you’re passionate about at 21 is not necessarily what you’re
at 21 is not necessarily what you’re
at 21 is not necessarily what you’re going to be passionate about at 40 now
going to be passionate about at 40 now
going to be passionate about at 40 now this is true for boyfriends as well as
this is true for boyfriends as well as
this is true for boyfriends as well as career choices
the third issue with following your
the third issue with following your passion is excuse me a little trouble
passion is excuse me a little trouble
passion is excuse me a little trouble with the throat is you’re not
with the throat is you’re not
with the throat is you’re not necessarily good at your passion and has
necessarily good at your passion and has
necessarily good at your passion and has anybody ever watched American Idol so
anybody ever watched American Idol so
anybody ever watched American Idol so you know what I’m talking about
you know what I’m talking about
you know what I’m talking about like just because you love singing
like just because you love singing
like just because you love singing doesn’t mean you should be a
doesn’t mean you should be a
doesn’t mean you should be a professional singer and then finally and
professional singer and then finally and
professional singer and then finally and most importantly following your passion
most importantly following your passion
most importantly following your passion is a very me-centered view of the world
is a very me-centered view of the world
is a very me-centered view of the world and when you get go through life what
and when you get go through life what
and when you get go through life what you’ll find is what you take out of the
you’ll find is what you take out of the
you’ll find is what you take out of the world over time be it you know whatever
world over time be it you know whatever
world over time be it you know whatever money cars stuff accolades is much less
money cars stuff accolades is much less
money cars stuff accolades is much less important than what you put into the
important than what you put into the
important than what you put into the world and so my recommendation would be
world and so my recommendation would be
world and so my recommendation would be follow your contributions find the thing
follow your contributions find the thing
follow your contributions find the thing that you’re great at put that into the
that you’re great at put that into the
that you’re great at put that into the world contribute to others help the
world contribute to others help the
world contribute to others help the world be better and that is the thing to
world be better and that is the thing to
world be better and that is the thing to follow you know it’s funny sometimes I
follow you know it’s funny sometimes I
follow you know it’s funny sometimes I talked to my wife about this but like
talked to my wife about this but like
talked to my wife about this but like hard work is like super important in
hard work is like super important in
hard work is like super important in life and like now like I grew up like in
life and like now like I grew up like in
life and like now like I grew up like in Berkeley and have any money I played for
Berkeley and have any money I played for
Berkeley and have any money I played for the football for the yellowjacket so I
the football for the yellowjacket so I
the football for the yellowjacket so I was just like a kid in the neighborhood
was just like a kid in the neighborhood
was just like a kid in the neighborhood and now like I have a lot of money and
and now like I have a lot of money and
and now like I have a lot of money and so like with my kids I’m like okay now
so like with my kids I’m like okay now
so like with my kids I’m like okay now that I’m rich how do I teach you the
that I’m rich how do I teach you the
that I’m rich how do I teach you the value of hard work because that’s really
value of hard work because that’s really
value of hard work because that’s really the only important lesson that I’ve got
the only important lesson that I’ve got
the only important lesson that I’ve got but like for all of you I think most of
but like for all of you I think most of
but like for all of you I think most of you out of public university probably
you out of public university probably
you out of public university probably know a little of the value of hard work
know a little of the value of hard work
know a little of the value of hard work keep that lesson that’s the important
keep that lesson that’s the important
keep that lesson that’s the important that work is what’s important it’s that
that work is what’s important it’s that
that work is what’s important it’s that effort where you learn the secrets that
effort where you learn the secrets that
effort where you learn the secrets that are super valuable and can change
are super valuable and can change
are super valuable and can change people’s lives and change the world but
people’s lives and change the world but
people’s lives and change the world but why did you still believe in the company
why did you still believe in the company
why did you still believe in the company I mean I have to think that that at any
I mean I have to think that that at any
I mean I have to think that that at any point in Silicon Valley history there’s
point in Silicon Valley history there’s
point in Silicon Valley history there’s a lot of people that at that point
a lot of people that at that point
a lot of people that at that point they’re just like this isn’t gonna work
they’re just like this isn’t gonna work
they’re just like this isn’t gonna work markets changed this isn’t a viable
markets changed this isn’t a viable
markets changed this isn’t a viable concept anymore well you know
concept anymore well you know
concept anymore well you know I didn’t I I don’t know how much belief
I didn’t I I don’t know how much belief
I didn’t I I don’t know how much belief I had but I knew that I had kind of
I had but I knew that I had kind of
I had but I knew that I had kind of gotten everybody into the boat with me
gotten everybody into the boat with me
gotten everybody into the boat with me so it wasn’t so much that I didn’t want
so it wasn’t so much that I didn’t want
so it wasn’t so much that I didn’t want to quit I wanted to quit every day who’s
to quit I wanted to quit every day who’s
to quit I wanted to quit every day who’s in that job I felt like throwing up when
in that job I felt like throwing up when
in that job I felt like throwing up when I woke up in the morning do you know
I woke up in the morning do you know
I woke up in the morning do you know what it’s like having a baby now yeah
what it’s like having a baby now yeah
what it’s like having a baby now yeah exactly like I felt like I was pregnant
exactly like I felt like I was pregnant
exactly like I felt like I was pregnant but you know I’d hired every employee
but you know I’d hired every employee
but you know I’d hired every employee and they all trust me I’d raise all the
and they all trust me I’d raise all the
and they all trust me I’d raise all the money I talked every investor into
money I talked every investor into
money I talked every investor into putting their money and I had given
putting their money and I had given
putting their money and I had given stock to you know like my friends and
stock to you know like my friends and
stock to you know like my friends and relatives and they were all excited
relatives and they were all excited
relatives and they were all excited about the prospects for the company when
about the prospects for the company when
about the prospects for the company when it went public like a lot of my friends
it went public like a lot of my friends
it went public like a lot of my friends from high school like bought the stock
from high school like bought the stock
from high school like bought the stock because I was running the company and so
because I was running the company and so
because I was running the company and so I just I felt like I could die but I
I just I felt like I could die but I
I just I felt like I could die but I couldn’t quit and then you know one of
couldn’t quit and then you know one of
couldn’t quit and then you know one of the horrible things about being founder
the horrible things about being founder
the horrible things about being founder CEO is it’s the one job you really can’t
CEO is it’s the one job you really can’t
CEO is it’s the one job you really can’t quit or if you do quit you’re Punk so
quit or if you do quit you’re Punk so
quit or if you do quit you’re Punk so yeah you know I didn’t want to be a punk
yeah you know I didn’t want to be a punk
yeah you know I didn’t want to be a punk so I I just kept you know I just kept
so I I just kept you know I just kept
so I I just kept you know I just kept pedaling but it was rough I mean like
pedaling but it was rough I mean like
pedaling but it was rough I mean like that was a running floud cloud right and
that was a running floud cloud right and
that was a running floud cloud right and it didn’t stop there right like that was
it didn’t stop there right like that was
it didn’t stop there right like that was loud loud loud cloud you know by the
loud loud loud cloud you know by the
loud loud loud cloud you know by the time loud cloud was two-and-a-half years
time loud cloud was two-and-a-half years
time loud cloud was two-and-a-half years old I had like sold like the loud cloud
old I had like sold like the loud cloud
old I had like sold like the loud cloud part of the business and I had to change
part of the business and I had to change
part of the business and I had to change it into another business so like that
it into another business so like that
it into another business so like that the next thing that happened was right
the next thing that happened was right
the next thing that happened was right laughs cloud was gonna go bankrupt so I
laughs cloud was gonna go bankrupt so I
laughs cloud was gonna go bankrupt so I raised 160 million dollars in the IPO
raised 160 million dollars in the IPO
raised 160 million dollars in the IPO but like I burned you know like we
but like I burned you know like we
but like I burned you know like we burned through that and we couldn’t stop
burned through that and we couldn’t stop
burned through that and we couldn’t stop the burn because the customers kept
the burn because the customers kept
the burn because the customers kept going out of business and so like we
going out of business and so like we
going out of business and so like we were headed towards bankruptcy so then I
were headed towards bankruptcy so then I
were headed towards bankruptcy so then I had to you know I sold the services part
had to you know I sold the services part
had to you know I sold the services part of the business and all the cash burn
of the business and all the cash burn
of the business and all the cash burn tedious and then I hit the lay off you
tedious and then I hit the lay off you
tedious and then I hit the lay off you know probably you know another third of
know probably you know another third of
know probably you know another third of the employees and then I kept the
the employees and then I kept the
the employees and then I kept the remaining 80 employees and we became a
remaining 80 employees and we became a
remaining 80 employees and we became a software company a publicly traded
software company a publicly traded
software company a publicly traded software company with no customers in
software company with no customers in
software company with no customers in their revenue which was an another dream
their revenue which was an another dream
their revenue which was an another dream Opsware that’s when we became Opsware
Opsware that’s when we became Opsware
Opsware that’s when we became Opsware so like that was hard but it was good
so like that was hard but it was good
so like that was hard but it was good you know it that kind of stuff it makes
you know it that kind of stuff it makes
you know it that kind of stuff it makes you strong you know eventually you know
you strong you know eventually you know
you strong you know eventually you know we five years later we sold to
we five years later we sold to
we five years later we sold to hewlett-packard for you know one point
hewlett-packard for you know one point
hewlett-packard for you know one point six billion dollars and not a bad exit
six billion dollars and not a bad exit
six billion dollars and not a bad exit which was like still I’m still shocked
which was like still I’m still shocked
which was like still I’m still shocked by that whole thing I still wake up in
by that whole thing I still wake up in
by that whole thing I still wake up in the middle of the night going are we’re
the middle of the night going are we’re
the middle of the night going are we’re gonna run out of money
gonna run out of money
gonna run out of money you only get leverage and this is
you only get leverage and this is
you only get leverage and this is something that is really tricky for
something that is really tricky for
something that is really tricky for founding CEOs to get to but you only get
founding CEOs to get to but you only get
founding CEOs to get to but you only get leverage if the person that you hire I
leverage if the person that you hire I
leverage if the person that you hire I can do it better than you can because as
can do it better than you can because as
can do it better than you can because as long as you feel like you’re better than
long as you feel like you’re better than
long as you feel like you’re better than the method then there’s not you’re just
the method then there’s not you’re just
the method then there’s not you’re just gonna keep second-guessing them and and
gonna keep second-guessing them and and
gonna keep second-guessing them and and you’re not gonna get any leverage and a
you’re not gonna get any leverage and a
you’re not gonna get any leverage and a lot of times like I’ll be talking to
lot of times like I’ll be talking to
lot of times like I’ll be talking to CEOs and they’ll have an executive and
CEOs and they’ll have an executive and
CEOs and they’ll have an executive and they’ll be like now this person’s like
they’ll be like now this person’s like
they’ll be like now this person’s like really good and they’re working really
really good and they’re working really
really good and they’re working really hard and I’m like well but like you’re
hard and I’m like well but like you’re
hard and I’m like well but like you’re always like frustrated about like you
always like frustrated about like you
always like frustrated about like you know you always feel like you have to do
know you always feel like you have to do
know you always feel like you have to do that yourself and it’s like yeah cuz
that yourself and it’s like yeah cuz
that yourself and it’s like yeah cuz they don’t understand how to do this and
they don’t understand how to do this and
they don’t understand how to do this and that and I’m like well then like they’re
that and I’m like well then like they’re
that and I’m like well then like they’re not an executive because the whole point
not an executive because the whole point
not an executive because the whole point of an executive is to get you leverage
of an executive is to get you leverage
of an executive is to get you leverage and so on a question like that it’s like
and so on a question like that it’s like
and so on a question like that it’s like okay where can you find the right person
okay where can you find the right person
okay where can you find the right person and make the hire to get you leverage
and make the hire to get you leverage
and make the hire to get you leverage and wherever that is that’s what you
and wherever that is that’s what you
and wherever that is that’s what you should give up first and you want
should give up first and you want
should give up first and you want leverage in all spots because as CEO you
leverage in all spots because as CEO you
leverage in all spots because as CEO you can be the keeper of the vision but
can be the keeper of the vision but
can be the keeper of the vision but quality control over the top you can but
quality control over the top you can but
quality control over the top you can but you can’t be the lead engineer forever
you can’t be the lead engineer forever
you can’t be the lead engineer forever like that there is no like it doesn’t
like that there is no like it doesn’t
like that there is no like it doesn’t matter how good an engineer like Larry
matter how good an engineer like Larry
matter how good an engineer like Larry Page is great an engineer as he was is
Page is great an engineer as he was is
Page is great an engineer as he was is not an engineer at Google he just isn’t
not an engineer at Google he just isn’t
not an engineer at Google he just isn’t and he cannot work on production
and he cannot work on production
and he cannot work on production products it’s a full-time job even for
products it’s a full-time job even for
products it’s a full-time job even for like somebody who can do as many things
like somebody who can do as many things
like somebody who can do as many things as Larry it’s he cannot do that and
as Larry it’s he cannot do that and
as Larry it’s he cannot do that and nobody can like if Larry can’t do it you
nobody can like if Larry can’t do it you
nobody can like if Larry can’t do it you can’t do it either I guarantee you and
can’t do it either I guarantee you and
can’t do it either I guarantee you and so you’re gonna have to give them all up
so you’re gonna have to give them all up
so you’re gonna have to give them all up and so it’s just a matter of like where
and so it’s just a matter of like where
and so it’s just a matter of like where do you get the leverage all of the
do you get the leverage all of the
do you get the leverage all of the general partners in the firm basically
general partners in the firm basically
general partners in the firm basically agreed that we would give half of our
agreed that we would give half of our
agreed that we would give half of our money away to to charity that we earned
money away to to charity that we earned
money away to to charity that we earned at the firm basically half of everything
at the firm basically half of everything
at the firm basically half of everything we get who are gonna give away and like
we get who are gonna give away and like
we get who are gonna give away and like here’s why here’s why oh let me just say
here’s why here’s why oh let me just say
here’s why here’s why oh let me just say why we did it the world the world is
why we did it the world the world is
why we did it the world the world is complex and it’s not and it can’t be
complex and it’s not and it can’t be
complex and it’s not and it can’t be entirely fair from what you contribute
entirely fair from what you contribute
entirely fair from what you contribute to what you get is very very uneven and
to what you get is very very uneven and
to what you get is very very uneven and even if you just look at Silicon Valley
even if you just look at Silicon Valley
even if you just look at Silicon Valley you know if you look at the the kind of
you know if you look at the the kind of
you know if you look at the the kind of brilliant people at Stanford Hospital or
brilliant people at Stanford Hospital or
brilliant people at Stanford Hospital or you know some of the the people who
you know some of the the people who
you know some of the the people who build the buildings that we live in or
build the buildings that we live in or
build the buildings that we live in or the guys who teach the kids and like the
the guys who teach the kids and like the
the guys who teach the kids and like the the teachers at the schools are like
the teachers at the schools are like
the teachers at the schools are like incredibly smart and dedicated um but
incredibly smart and dedicated um but
incredibly smart and dedicated um but there really is no way that they’re
there really is no way that they’re
there really is no way that they’re gonna ever make anything like what I
gonna ever make anything like what I
gonna ever make anything like what I make at injuries and orbits it’s just
make at injuries and orbits it’s just
make at injuries and orbits it’s just impossible the way society is structured
impossible the way society is structured
impossible the way society is structured like it did there’s no way it can happen
like it did there’s no way it can happen
like it did there’s no way it can happen but their contribution to what I do is
but their contribution to what I do is
but their contribution to what I do is significant like without them like you
significant like without them like you
significant like without them like you know like I’ve got kids that are in
know like I’ve got kids that are in
know like I’ve got kids that are in those schools I get sick I go to those
those schools I get sick I go to those
those schools I get sick I go to those doctors like I live in that environment
doctors like I live in that environment
doctors like I live in that environment and like I appreciate it I like really
and like I appreciate it I like really
and like I appreciate it I like really appreciate the effort and the work and
appreciate the effort and the work and
appreciate the effort and the work and the and what they do
the and what they do
the and what they do and so for me to be in a position where
and so for me to be in a position where
and so for me to be in a position where I can put money into the resources that
I can put money into the resources that
I can put money into the resources that I share with them and like make their
I share with them and like make their
I share with them and like make their life a little easier like I just feel
life a little easier like I just feel
life a little easier like I just feel like it’s the right thing to do so it’s
like it’s the right thing to do so it’s
like it’s the right thing to do so it’s nothing more than that and I don’t think
nothing more than that and I don’t think
nothing more than that and I don’t think there’s any kind of like way I can give
there’s any kind of like way I can give
there’s any kind of like way I can give money to other people like if if you’re
money to other people like if if you’re
money to other people like if if you’re a technology entrepreneur like you’ve
a technology entrepreneur like you’ve
a technology entrepreneur like you’ve got every opportunity to make like a
got every opportunity to make like a
got every opportunity to make like a gazillion dollars like that that
gazillion dollars like that that
gazillion dollars like that that opportunity is there whether like a
opportunity is there whether like a
opportunity is there whether like a invest and get a percentage of your
invest and get a percentage of your
invest and get a percentage of your company or not but like if you’re a
company or not but like if you’re a
company or not but like if you’re a teacher you don’t have that opportunity
teacher you don’t have that opportunity
teacher you don’t have that opportunity but man if I can get you the resources
but man if I can get you the resources
but man if I can get you the resources to do your job better so that you’ve got
to do your job better so that you’ve got
to do your job better so that you’ve got like a little more space in your
like a little more space in your
like a little more space in your classroom like that could make the
classroom like that could make the
classroom like that could make the difference for a kid who could do
difference for a kid who could do
difference for a kid who could do something that’s really important and so
something that’s really important and so
something that’s really important and so like that’s what I’m about and that’s
like that’s what I’m about and that’s
like that’s what I’m about and that’s what I’m gonna do and I’m very proud
what I’m gonna do and I’m very proud
what I’m gonna do and I’m very proud that our whole firm is doing that with
that our whole firm is doing that with
that our whole firm is doing that with me look at the hard thing about hard
me look at the hard thing about hard
me look at the hard thing about hard things which is just that we’re not
things which is just that we’re not
things which is just that we’re not don’t come from yeah that’s just it’s
don’t come from yeah that’s just it’s
don’t come from yeah that’s just it’s just a way cool title the hard thing
just a way cool title the hard thing
just a way cool title the hard thing about hard things
about hard things
about hard things well actually wrote that title myself
well actually wrote that title myself
well actually wrote that title myself which I understand it’s like actually
which I understand it’s like actually
which I understand it’s like actually pretty rare in the book business if they
pretty rare in the book business if they
pretty rare in the book business if they let you keep your own title but where it
let you keep your own title but where it
let you keep your own title but where it came from was you know when I was a CEO
came from was you know when I was a CEO
came from was you know when I was a CEO it was easy time I slept like a baby
it was easy time I slept like a baby
it was easy time I slept like a baby woke up every two hours and cried and
woke up every two hours and cried and
woke up every two hours and cried and you know when I when I would be up and
you know when I when I would be up and
you know when I when I would be up and and this is not a joke it’s actually
and this is not a joke it’s actually
and this is not a joke it’s actually true you could ask my wife I’d be up at
true you could ask my wife I’d be up at
true you could ask my wife I’d be up at 3 o’clock in the morning just sitting
3 o’clock in the morning just sitting
3 o’clock in the morning just sitting there going why are none of the
there going why are none of the
there going why are none of the management books that I’m reading
management books that I’m reading
management books that I’m reading helping me like there they are no help
helping me like there they are no help
helping me like there they are no help at all and and I read literally every
at all and and I read literally every
at all and and I read literally every management book and you know I realized
management book and you know I realized
management book and you know I realized that you know management books are
that you know management books are
that you know management books are generally written for like how here’s
generally written for like how here’s
generally written for like how here’s how you to not screw up your company but
how you to not screw up your company but
how you to not screw up your company but if you start a company that lasts like a
if you start a company that lasts like a
if you start a company that lasts like a week and then you’ve screwed it up and
week and then you’ve screwed it up and
week and then you’ve screwed it up and then like where’s the book for that you
then like where’s the book for that you
then like where’s the book for that you know and that’s that’s what was missing
know and that’s that’s what was missing
know and that’s that’s what was missing so I would think about I’d be like okay
so I would think about I’d be like okay
so I would think about I’d be like okay yeah so like all the VCS and everybody
yeah so like all the VCS and everybody
yeah so like all the VCS and everybody tells me you know bendin you know what
tells me you know bendin you know what
tells me you know bendin you know what the key to a great company is you know
the key to a great company is you know
the key to a great company is you know hire eight players and I’d be sitting
hire eight players and I’d be sitting
hire eight players and I’d be sitting there like oh great cuz I was gonna hire
there like oh great cuz I was gonna hire
there like oh great cuz I was gonna hire a bunch of idiots
a bunch of idiots
a bunch of idiots now you’ve unlocked the secret for me
now you’ve unlocked the secret for me
now you’ve unlocked the secret for me thank you
thank you
thank you but you know like that that wasn’t like
but you know like that that wasn’t like
but you know like that that wasn’t like that way I never liked that what the
that way I never liked that what the
that way I never liked that what the hard thing is not to like hire the best
hard thing is not to like hire the best
hard thing is not to like hire the best people right like the hard thing is when
people right like the hard thing is when
people right like the hard thing is when your company is going like this and the
your company is going like this and the
your company is going like this and the great best people don’t want to work for
great best people don’t want to work for
great best people don’t want to work for you and then like who do you hire and
you and then like who do you hire and
you and then like who do you hire and like how does that work and like you
like how does that work and like you
like how does that work and like you know do you hire the person who’s like
know do you hire the person who’s like
know do you hire the person who’s like okay across the border do you hire the
okay across the border do you hire the
okay across the border do you hire the person that’s got something like
person that’s got something like
person that’s got something like horribly wrong with them but like super
horribly wrong with them but like super
horribly wrong with them but like super great about them and like how do you
great about them and like how do you
great about them and like how do you think about that and like what do you do
think about that and like what do you do
think about that and like what do you do with the horribly wrong stuff once you
with the horribly wrong stuff once you
with the horribly wrong stuff once you get them you know that’s a hard thing
get them you know that’s a hard thing
get them you know that’s a hard thing and there’s like in a bit I read this
and there’s like in a bit I read this
and there’s like in a bit I read this the Jim Collins books which I hate sorry
the Jim Collins books which I hate sorry
the Jim Collins books which I hate sorry you like him I know it doesn’t mean
you like him I know it doesn’t mean
you like him I know it doesn’t mean you’re not smart if you like them
you’re not smart if you like them
you’re not smart if you like them because a lot of people smart people
because a lot of people smart people
because a lot of people smart people like them but the thing that he does is
like them but the thing that he does is
like them but the thing that he does is he he makes you feel good about yourself
he he makes you feel good about yourself
he he makes you feel good about yourself like but then when you get into it you
like but then when you get into it you
like but then when you get into it you realize cause and effect is all like
realize cause and effect is all like
realize cause and effect is all like swung around and all these things but
swung around and all these things but
swung around and all these things but he’s like big what great companies have
he’s like big what great companies have
he’s like big what great companies have is a big hairy audacious goal and I like
is a big hairy audacious goal and I like
is a big hairy audacious goal and I like that’s great but that’s not hard like
that’s great but that’s not hard like
that’s great but that’s not hard like it’s pretty easy to write a big hairy
it’s pretty easy to write a big hairy
it’s pretty easy to write a big hairy like we’re gonna go to the moon you know
like we’re gonna go to the moon you know
like we’re gonna go to the moon you know we’re gonna build the biggest company in
we’re gonna build the biggest company in
we’re gonna build the biggest company in the world bring up software on every
the world bring up software on every
the world bring up software on every desktop it’s all gonna be ours like
desktop it’s all gonna be ours like
desktop it’s all gonna be ours like that’s our goal okay so now you’ve
that’s our goal okay so now you’ve
that’s our goal okay so now you’ve missed your goal and like Natalie did
missed your goal and like Natalie did
missed your goal and like Natalie did you miss your goal but you build up your
you miss your goal but you build up your
you miss your goal but you build up your whole company to achieve your goal and
whole company to achieve your goal and
whole company to achieve your goal and you have a cost structure that’s
you have a cost structure that’s
you have a cost structure that’s designed to hit your goal and you missed
designed to hit your goal and you missed
designed to hit your goal and you missed your goal and you’re running out of cash
your goal and you’re running out of cash
your goal and you’re running out of cash and the company’s burning to the ground
and the company’s burning to the ground
and the company’s burning to the ground and all of the company but everybody
and all of the company but everybody
and all of the company but everybody works for you thinks you’re a moron
works for you thinks you’re a moron
works for you thinks you’re a moron because you missed your goal okay that’s
because you missed your goal okay that’s
because you missed your goal okay that’s hard like that’s the hard thing like
hard like that’s the hard thing like
hard like that’s the hard thing like what do you do there well that’s not in
what do you do there well that’s not in
what do you do there well that’s not in Jim’s book like you need to talk about
Jim’s book like you need to talk about
Jim’s book like you need to talk about that it’s like nobody ever misses our
that it’s like nobody ever misses our
that it’s like nobody ever misses our goal who’s a great company so like why
goal who’s a great company so like why
goal who’s a great company so like why would you miss your goal like you must
would you miss your goal like you must
would you miss your goal like you must I’d be great it’s like okay
I’d be great it’s like okay
I’d be great it’s like okay so anyway that good that’s where the
so anyway that good that’s where the
so anyway that good that’s where the hard thing about it okay thank you so
hard thing about it okay thank you so
hard thing about it okay thank you so much for watching I made this video
much for watching I made this video
much for watching I made this video because s bgm 247 asks me to so if
because s bgm 247 asks me to so if
because s bgm 247 asks me to so if there’s a famous entrepreneur that you
there’s a famous entrepreneur that you
there’s a famous entrepreneur that you are going to profile next leave it in
are going to profile next leave it in
are going to profile next leave it in the comments below and I’ll see what I
the comments below and I’ll see what I
the comments below and I’ll see what I can do
can do
can do I’d also love to know which of the top
I’d also love to know which of the top
I’d also love to know which of the top 10 rules is gonna have the biggest
10 rules is gonna have the biggest
10 rules is gonna have the biggest impact on your life leave it in the
impact on your life leave it in the
impact on your life leave it in the comments I won’t join the discussion and
comments I won’t join the discussion and
comments I won’t join the discussion and if you like this video
if you like this video
if you like this video my personal goal on this channel is to
my personal goal on this channel is to
my personal goal on this channel is to help reach a million subscribers so I
help reach a million subscribers so I
help reach a million subscribers so I don’t think you think of to help share
don’t think you think of to help share
don’t think you think of to help share the video spread the message I really
the video spread the message I really
the video spread the message I really truly deeply appreciate it thank you
truly deeply appreciate it thank you
truly deeply appreciate it thank you guys so much for watching continue to
guys so much for watching continue to
guys so much for watching continue to believe and I’ll see you soon
”
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