and people take no for an answer too easily you want to do something
easily you want to do something
easily you want to do something meaningful add some value I frankly
meaningful add some value I frankly
meaningful add some value I frankly don’t even care to talk to you if there
don’t even care to talk to you if there
don’t even care to talk to you if there was no risk everybody would do it most
was no risk everybody would do it most
was no risk everybody would do it most people do the traditional thing and get
people do the traditional thing and get
people do the traditional thing and get to traditional places disrespecting
to traditional places disrespecting
to traditional places disrespecting Authority some entrepreneurs do a really
Authority some entrepreneurs do a really
Authority some entrepreneurs do a really good job of growing and we’re going to
good job of growing and we’re going to
good job of growing and we’re going to the details of story but they offered
the details of story but they offered
the details of story but they offered seven billion dollars so 40 engineers
seven billion dollars so 40 engineers
seven billion dollars so 40 engineers wasted three or four years of their life
wasted three or four years of their life
wasted three or four years of their life he’s an Indian American businessman
he’s an Indian American businessman
he’s an Indian American businessman listed by Forbes magazine as a
listed by Forbes magazine as a
listed by Forbes magazine as a billionaire he made his early fortune as
billionaire he made his early fortune as
billionaire he made his early fortune as one of the cofounders of Sun
one of the cofounders of Sun
one of the cofounders of Sun Microsystems he has an estimated net
Microsystems he has an estimated net
Microsystems he has an estimated net worth of 1.5 billion dollars he’s Vinod
worth of 1.5 billion dollars he’s Vinod
worth of 1.5 billion dollars he’s Vinod Khosla and here are his top 10 rules for
Khosla and here are his top 10 rules for
Khosla and here are his top 10 rules for success the funny thing is with enough
success the funny thing is with enough
success the funny thing is with enough persistence most things that seem
persistence most things that seem
persistence most things that seem impossible become possible I’m always
impossible become possible I’m always
impossible become possible I’m always amazed at how often you can turn things
amazed at how often you can turn things
amazed at how often you can turn things around and people take no for an answer
around and people take no for an answer
around and people take no for an answer to easily
to easily
to easily you know it’s whether you’re trying to
you know it’s whether you’re trying to
you know it’s whether you’re trying to achieve a goal I get into business
achieve a goal I get into business
achieve a goal I get into business school or my green card was the same way
school or my green card was the same way
school or my green card was the same way I left the job that had sponsored me but
I left the job that had sponsored me but
I left the job that had sponsored me but I still got my green card even though no
I still got my green card even though no
I still got my green card even though no lawyer would take me I became my own
lawyer would take me I became my own
lawyer would take me I became my own lawyer got my green card without working
lawyer got my green card without working
lawyer got my green card without working for while I was at business school and I
for while I was at business school and I
for while I was at business school and I did it perfectly legally I my strategy
did it perfectly legally I my strategy
did it perfectly legally I my strategy there was if I couldn’t convince
there was if I couldn’t convince
there was if I couldn’t convince immigration I’d confuse them and I did
immigration I’d confuse them and I did
immigration I’d confuse them and I did and they gave me my green card most of
and they gave me my green card most of
and they gave me my green card most of the time when you start something you
the time when you start something you
the time when you start something you want to do something meaningful and get
want to do something meaningful and get
want to do something meaningful and get started and maybe smaller but you want
started and maybe smaller but you want
started and maybe smaller but you want to keep innovating building on it one
to keep innovating building on it one
to keep innovating building on it one step at a time and hopefully it becomes
step at a time and hopefully it becomes
step at a time and hopefully it becomes much larger you know Amazon started with
much larger you know Amazon started with
much larger you know Amazon started with just books now it’s everything if you
just books now it’s everything if you
just books now it’s everything if you look at Twitter or Facebook when they
look at Twitter or Facebook when they
look at Twitter or Facebook when they started there were relatively small
started there were relatively small
started there were relatively small things macaca was restrained too
things macaca was restrained too
things macaca was restrained too that everybody on the Harvard campus not
that everybody on the Harvard campus not
that everybody on the Harvard campus not seven billion people on the planet but
seven billion people on the planet but
seven billion people on the planet but he kept expanding his vision so very
he kept expanding his vision so very
he kept expanding his vision so very often when you start with an innovative
often when you start with an innovative
often when you start with an innovative idea you don’t know how big it is in
idea you don’t know how big it is in
idea you don’t know how big it is in fact most of most of the really
fact most of most of the really
fact most of most of the really innovative ideas have been very hard to
innovative ideas have been very hard to
innovative ideas have been very hard to predict what’s a large opportunity or a
predict what’s a large opportunity or a
predict what’s a large opportunity or a small opportunity most people thought it
small opportunity most people thought it
small opportunity most people thought it B&B would this be this very small nichy
B&B would this be this very small nichy
B&B would this be this very small nichy little opportunity that a few people
little opportunity that a few people
little opportunity that a few people would rent out their rooms and it’d be a
would rent out their rooms and it’d be a
would rent out their rooms and it’d be a nice little business now it’s huge
nice little business now it’s huge
nice little business now it’s huge people thought ooh BRR would be this
people thought ooh BRR would be this
people thought ooh BRR would be this limo service business it’s now bigger
limo service business it’s now bigger
limo service business it’s now bigger than all limos all taxis and maybe
than all limos all taxis and maybe
than all limos all taxis and maybe replacing personal transportation so
replacing personal transportation so
replacing personal transportation so it’s not possible to always predict
it’s not possible to always predict
it’s not possible to always predict everything and where things may go but
everything and where things may go but
everything and where things may go but just because you can’t predict where
just because you can’t predict where
just because you can’t predict where things may go doesn’t mean you shouldn’t
things may go doesn’t mean you shouldn’t
things may go doesn’t mean you shouldn’t try or you shouldn’t start once you
try or you shouldn’t start once you
try or you shouldn’t start once you start and you stay creative and
start and you stay creative and
start and you stay creative and innovative and keep trying new things
innovative and keep trying new things
innovative and keep trying new things things expand add some value there’s a
things expand add some value there’s a
things expand add some value there’s a true societal and business value
true societal and business value
true societal and business value proposition there’s a contribution I
proposition there’s a contribution I
proposition there’s a contribution I find and I don’t do this for reasons
find and I don’t do this for reasons
find and I don’t do this for reasons other than the fact that you can’t
other than the fact that you can’t
other than the fact that you can’t long-term build a viable business
long-term build a viable business
long-term build a viable business without making a real contribution most
without making a real contribution most
without making a real contribution most people look at they can start a business
people look at they can start a business
people look at they can start a business do an IPO make some money almost always
do an IPO make some money almost always
do an IPO make some money almost always that leads to businesses that are round
that leads to businesses that are round
that leads to businesses that are round trips what I call good they go up and go
trips what I call good they go up and go
trips what I call good they go up and go down to build a durable business you
down to build a durable business you
down to build a durable business you really have to focus on the value
really have to focus on the value
really have to focus on the value proposition I am amazed at how few
proposition I am amazed at how few
proposition I am amazed at how few people have a belief system what do they
people have a belief system what do they
people have a belief system what do they actually believe it I and and yeah it’s
actually believe it I and and yeah it’s
actually believe it I and and yeah it’s okay to offend you guys 90 percent of
okay to offend you guys 90 percent of
okay to offend you guys 90 percent of you will do what’s expected of you as
you will do what’s expected of you as
you will do what’s expected of you as opposed to what you want to do and you
opposed to what you want to do and you
opposed to what you want to do and you know I even when I come to an event like
know I even when I come to an event like
know I even when I come to an event like this say why am I here why would I even
this say why am I here why would I even
this say why am I here why would I even bar
bar
bar to take an hour of my valuable time no
to take an hour of my valuable time no
to take an hour of my valuable time no it’s true I I have to have a purpose
it’s true I I have to have a purpose
it’s true I I have to have a purpose my goal is very simple if I can convert
my goal is very simple if I can convert
my goal is very simple if I can convert one of you there’s probably 400 500
one of you there’s probably 400 500
one of you there’s probably 400 500 people here if I can convert one of you
people here if I can convert one of you
people here if I can convert one of you to follow your belief and have the guts
to follow your belief and have the guts
to follow your belief and have the guts to follow your belief I’ll have all
to follow your belief I’ll have all
to follow your belief I’ll have all think of the hour as well spent but so I
think of the hour as well spent but so I
think of the hour as well spent but so I will say what am I trying to do and why
will say what am I trying to do and why
will say what am I trying to do and why I don’t speak because somebody you know
I don’t speak because somebody you know
I don’t speak because somebody you know will write nice things about it I always
will write nice things about it I always
will write nice things about it I always sort of have a purpose but I have a
sort of have a purpose but I have a
sort of have a purpose but I have a belief system and most people even
belief system and most people even
belief system and most people even successful companies and have big beef
successful companies and have big beef
successful companies and have big beef with fortune 500 CEOs I can talk about
with fortune 500 CEOs I can talk about
with fortune 500 CEOs I can talk about that very little leadership there don’t
that very little leadership there don’t
that very little leadership there don’t have an internal compass of what they
have an internal compass of what they
have an internal compass of what they believe in it’s what do others expect
believe in it’s what do others expect
believe in it’s what do others expect you know when I graduated I went into an
you know when I graduated I went into an
you know when I graduated I went into an ocean nobody went into art no ship out
ocean nobody went into art no ship out
ocean nobody went into art no ship out of the business school and people said
of the business school and people said
of the business school and people said why wouldn’t you work for Goldman or
why wouldn’t you work for Goldman or
why wouldn’t you work for Goldman or McKinsey I said why would you like I
McKinsey I said why would you like I
McKinsey I said why would you like I could fathom why you would want to do
could fathom why you would want to do
could fathom why you would want to do that job
that job
that job right I still can’t by the way for those
right I still can’t by the way for those
right I still can’t by the way for those of you going to those places and I’m
of you going to those places and I’m
of you going to those places and I’m sure there’s plenty I’m probably not the
sure there’s plenty I’m probably not the
sure there’s plenty I’m probably not the right person to talk to you I frankly
right person to talk to you I frankly
right person to talk to you I frankly don’t even care to talk to you all of
don’t even care to talk to you all of
don’t even care to talk to you all of you others I think there’s something
you others I think there’s something
you others I think there’s something wrong with anybody who fundamentally
wrong with anybody who fundamentally
wrong with anybody who fundamentally wants to go work for one of the
wants to go work for one of the
wants to go work for one of the consultants or the investment banks
consultants or the investment banks
consultants or the investment banks today in this part that does they don’t
today in this part that does they don’t
today in this part that does they don’t understand how the world is going to
understand how the world is going to
understand how the world is going to work in the future but my point again is
work in the future but my point again is
work in the future but my point again is have a belief system follow that compass
have a belief system follow that compass
have a belief system follow that compass and I’m overstating it a bit so there
and I’m overstating it a bit so there
and I’m overstating it a bit so there may be some hope for those of you going
may be some hope for those of you going
may be some hope for those of you going there but it’s a lonely a little bit of
there but it’s a lonely a little bit of
there but it’s a lonely a little bit of an exaggeration let me go back to this
an exaggeration let me go back to this
an exaggeration let me go back to this issue of fortune 500 CEOs I’ve talked to
issue of fortune 500 CEOs I’ve talked to
issue of fortune 500 CEOs I’ve talked to many over the years
many over the years
many over the years if a New York Times writer writes an
if a New York Times writer writes an
if a New York Times writer writes an article they want to change their
article they want to change their
article they want to change their strategy they want to respond how silly
strategy they want to respond how silly
strategy they want to respond how silly is that that some English major who’s
is that that some English major who’s
is that that some English major who’s never had a business job can determine
never had a business job can determine
never had a business job can determine the strategy of a fortune 500 company
the strategy of a fortune 500 company
the strategy of a fortune 500 company why because they care about what’s
why because they care about what’s
why because they care about what’s written not what they believe system is
written not what they believe system is
written not what they believe system is do you know what the LAN must could say
do you know what the LAN must could say
do you know what the LAN must could say to that writer go get a real job
to that writer go get a real job
to that writer go get a real job all right what Jeff Bezos would say
all right what Jeff Bezos would say
all right what Jeff Bezos would say that’s leadership having a belief system
that’s leadership having a belief system
that’s leadership having a belief system knowing what’s driving you to do what
knowing what’s driving you to do what
knowing what’s driving you to do what you do not you’re fitting in to do
you do not you’re fitting in to do
you do not you’re fitting in to do career enhancement or making it look
career enhancement or making it look
career enhancement or making it look good to somebody else whether it’s your
good to somebody else whether it’s your
good to somebody else whether it’s your friends or to your boss or to
friends or to your boss or to
friends or to your boss or to shareholders and frankly you look at all
shareholders and frankly you look at all
shareholders and frankly you look at all the companies that are languishing in
the companies that are languishing in
the companies that are languishing in the valley the older companies they
the valley the older companies they
the valley the older companies they generally don’t have a belief system
generally don’t have a belief system
generally don’t have a belief system they’re generally trying to meet some
they’re generally trying to meet some
they’re generally trying to meet some quarterly target without saying here’s
quarterly target without saying here’s
quarterly target without saying here’s how we will be different and here’s how
how we will be different and here’s how
how we will be different and here’s how we’ll do it
we’ll do it
we’ll do it Apple did languish for 10-15 years and
Apple did languish for 10-15 years and
Apple did languish for 10-15 years and then Steve Jobs came in with a point of
then Steve Jobs came in with a point of
then Steve Jobs came in with a point of view and created the most valuable
view and created the most valuable
view and created the most valuable company in the world he did irrational
company in the world he did irrational
company in the world he did irrational things if you go back to January of 2007
things if you go back to January of 2007
things if you go back to January of 2007 January 1 everybody was saying nobody
January 1 everybody was saying nobody
January 1 everybody was saying nobody wants a phone without a keyboard
wants a phone without a keyboard
wants a phone without a keyboard nobody wants a phone that costs $6.99 I
nobody wants a phone that costs $6.99 I
nobody wants a phone that costs $6.99 I can go on with the litany those were all
can go on with the litany those were all
can go on with the litany those were all English majors writing articles I have
English majors writing articles I have
English majors writing articles I have this beef against English majors not all
this beef against English majors not all
this beef against English majors not all English majors are bad but the majority
English majors are bad but the majority
English majors are bad but the majority of them at Stanford are undirected and
of them at Stanford are undirected and
of them at Stanford are undirected and don’t have a goal or a purpose sorry and
don’t have a goal or a purpose sorry and
don’t have a goal or a purpose sorry and that’s not to say among them there isn’t
that’s not to say among them there isn’t
that’s not to say among them there isn’t 20% that are really good they just
20% that are really good they just
20% that are really good they just didn’t get the right guidance and ended
didn’t get the right guidance and ended
didn’t get the right guidance and ended up in the wrong place
up in the wrong place
up in the wrong place I like purposeful education when one is
I like purposeful education when one is
I like purposeful education when one is starting it’s hard to say what whether
starting it’s hard to say what whether
starting it’s hard to say what whether it’ll be successful or not if it’s a
it’ll be successful or not if it’s a
it’ll be successful or not if it’s a short success then there would be no
short success then there would be no
short success then there would be no risk if there was no risk everybody
risk if there was no risk everybody
risk if there was no risk everybody would do it and if everybody was doing
would do it and if everybody was doing
would do it and if everybody was doing it it wouldn’t be unique or innovative
it it wouldn’t be unique or innovative
it it wouldn’t be unique or innovative so innovation fundamentally involves
so innovation fundamentally involves
so innovation fundamentally involves risk-taking and risk-taking means
risk-taking and risk-taking means
risk-taking and risk-taking means failure I like to say my willingness to
failure I like to say my willingness to
failure I like to say my willingness to fail is what gives me the ability to
fail is what gives me the ability to
fail is what gives me the ability to succeed and too many people just are not
succeed and too many people just are not
succeed and too many people just are not willing to fail so they don’t try
willing to fail so they don’t try
willing to fail so they don’t try anything new I like to say you should
anything new I like to say you should
anything new I like to say you should try and fail but not fail to try because
try and fail but not fail to try because
try and fail but not fail to try because the people who fail to try fail to take
the people who fail to try fail to take
the people who fail to try fail to take risk fail to do something attempt
risk fail to do something attempt
risk fail to do something attempt something new are failing before they
something new are failing before they
something new are failing before they start they just don’t know it
start they just don’t know it
start they just don’t know it but what transpired for me when I was
but what transpired for me when I was
but what transpired for me when I was probably 15 was reading in the late 60s
probably 15 was reading in the late 60s
probably 15 was reading in the late 60s about the founding of a company called
about the founding of a company called
about the founding of a company called Intel Craig Barrett the CEO of Intel is
Intel Craig Barrett the CEO of Intel is
Intel Craig Barrett the CEO of Intel is here and it developed as a role model
here and it developed as a role model
here and it developed as a role model for me of what I wanted to do of course
for me of what I wanted to do of course
for me of what I wanted to do of course at that stage of my life it seemed very
at that stage of my life it seemed very
at that stage of my life it seemed very very far away but many years later and
very far away but many years later and
very far away but many years later and I’ll tell you later that I’m a big fan
I’ll tell you later that I’m a big fan
I’ll tell you later that I’m a big fan of risk
of risk
of risk I learned hang gliding and while
I learned hang gliding and while
I learned hang gliding and while watching a movie about hang gliding I
watching a movie about hang gliding I
watching a movie about hang gliding I saw this quote this dedication of the
saw this quote this dedication of the
saw this quote this dedication of the movie and it went something like this
movie and it went something like this
movie and it went something like this dedicated to those who dare to dream the
dedicated to those who dare to dream the
dedicated to those who dare to dream the dreams and then are foolish enough to
dreams and then are foolish enough to
dreams and then are foolish enough to try and make those dreams come true in
try and make those dreams come true in
try and make those dreams come true in the operative word here is foolish
the operative word here is foolish
the operative word here is foolish because unless you transcend what’s
because unless you transcend what’s
because unless you transcend what’s traditional and I think we’ve talked
traditional and I think we’ve talked
traditional and I think we’ve talked about this earlier unless you go past
about this earlier unless you go past
about this earlier unless you go past what’s reasonable you’re not going to
what’s reasonable you’re not going to
what’s reasonable you’re not going to get someplace different most people do
get someplace different most people do
get someplace different most people do the traditional thing and get to
the traditional thing and get to
the traditional thing and get to traditional places
traditional places
traditional places there is another way I think shaking
there is another way I think shaking
there is another way I think shaking things up is an essential part of
things up is an essential part of
things up is an essential part of entrepreneurship in sort of almost
entrepreneurship in sort of almost
entrepreneurship in sort of almost challenging disrespecting Authority not
challenging disrespecting Authority not
challenging disrespecting Authority not not being too confirming our essential
not being too confirming our essential
not being too confirming our essential parts of entrepreneurship building a
parts of entrepreneurship building a
parts of entrepreneurship building a team is the hardest thing for an
team is the hardest thing for an
team is the hardest thing for an entrepreneur to do because very often
entrepreneur to do because very often
entrepreneur to do because very often they don’t know what they don’t know
they don’t know what they don’t know
they don’t know what they don’t know right they they know their area of
right they they know their area of
right they they know their area of specialty really well but other areas
specialty really well but other areas
specialty really well but other areas they think they understand but they
they think they understand but they
they think they understand but they don’t and every areas more complex and
don’t and every areas more complex and
don’t and every areas more complex and more nuanced then it appears to somebody
more nuanced then it appears to somebody
more nuanced then it appears to somebody you know – I see so many entrepreneurs
you know – I see so many entrepreneurs
you know – I see so many entrepreneurs who think marketing is about a press
who think marketing is about a press
who think marketing is about a press release or an advertising campaign it’s
release or an advertising campaign it’s
release or an advertising campaign it’s not it’s much more nuanced and
not it’s much more nuanced and
not it’s much more nuanced and sophisticated than that so team building
sophisticated than that so team building
sophisticated than that so team building is very important some entrepreneurs do
is very important some entrepreneurs do
is very important some entrepreneurs do a really good job of growing Larry Page
a really good job of growing Larry Page
a really good job of growing Larry Page as an example
as an example
as an example Mark Zuckerberg is an example of being
Mark Zuckerberg is an example of being
Mark Zuckerberg is an example of being better at new functions as they come up
in and and and also they’ve done a
in and and and also they’ve done a really good job of adding people who
really good job of adding people who
really good job of adding people who they can learn these new areas from what
they can learn these new areas from what
they can learn these new areas from what I find is some poor entrepreneurs assume
I find is some poor entrepreneurs assume
I find is some poor entrepreneurs assume they know the answer and that’s very
they know the answer and that’s very
they know the answer and that’s very dangerous and others know they don’t
dangerous and others know they don’t
dangerous and others know they don’t know and they hire the people who they
know and they hire the people who they
know and they hire the people who they can learn from but they can still apply
can learn from but they can still apply
can learn from but they can still apply their entrepreneurial style in these new
their entrepreneurial style in these new
their entrepreneurial style in these new areas sometimes it makes sense for the
areas sometimes it makes sense for the
areas sometimes it makes sense for the entrepreneur to keep being CEO and
entrepreneur to keep being CEO and
entrepreneur to keep being CEO and driving the whole vision usually that’s
driving the whole vision usually that’s
driving the whole vision usually that’s the best course but someone knows can’t
the best course but someone knows can’t
the best course but someone knows can’t think broadly enough to do that and they
think broadly enough to do that and they
think broadly enough to do that and they can’t grow fast enough you also have to
can’t grow fast enough you also have to
can’t grow fast enough you also have to dare to be great I’ll tell you one
dare to be great I’ll tell you one
dare to be great I’ll tell you one little story one of the most successful
little story one of the most successful
little story one of the most successful investments we made was a small company
investments we made was a small company
investments we made was a small company called CERN we just started to sell
called CERN we just started to sell
called CERN we just started to sell product you’re doing fairly well we had
product you’re doing fairly well we had
product you’re doing fairly well we had a half a million of revenue in 1990
a half a million of revenue in 1990
a half a million of revenue in 1990 Evon Cisco came said we’d like to buy
Evon Cisco came said we’d like to buy
Evon Cisco came said we’d like to buy this company for three hundred million
this company for three hundred million
this company for three hundred million dollars having invested three or four
dollars having invested three or four
dollars having invested three or four million dollars for half the company
million dollars for half the company
million dollars for half the company that’d be a pretty good investment and
that’d be a pretty good investment and
that’d be a pretty good investment and yeah we had one other investment and I
yeah we had one other investment and I
yeah we had one other investment and I said no deal because I believed in what
said no deal because I believed in what
said no deal because I believed in what we were trying to do April came along
we were trying to do April came along
we were trying to do April came along and somebody called me from Cisco and
and somebody called me from Cisco and
and somebody called me from Cisco and said we’d like to offer seven hundred
said we’d like to offer seven hundred
said we’d like to offer seven hundred million dollars and we at that point
million dollars and we at that point
million dollars and we at that point with subsequent investments owned about
with subsequent investments owned about
with subsequent investments owned about thirty five forty percent of the company
thirty five forty percent of the company
thirty five forty percent of the company and I said no deal August came along and
and I said no deal August came along and
and I said no deal August came along and won’t go into the details of story but
won’t go into the details of story but
won’t go into the details of story but they offered seven billion dollars we
they offered seven billion dollars we
they offered seven billion dollars we did take the deal we put this sort of
did take the deal we put this sort of
did take the deal we put this sort of slogan I prefer brutal honesty to
slogan I prefer brutal honesty to
slogan I prefer brutal honesty to hypocritical politeness on our website
hypocritical politeness on our website
hypocritical politeness on our website because it’s a really disservice to
because it’s a really disservice to
because it’s a really disservice to people you don’t have to be offensive to
people you don’t have to be offensive to
people you don’t have to be offensive to be honest when I don’t like somebody I
be honest when I don’t like somebody I
be honest when I don’t like somebody I can get offensive too but generally you
can get offensive too but generally you
can get offensive too but generally you can be constructive and very honest and
can be constructive and very honest and
can be constructive and very honest and I prefer that brutal honesty because it
I prefer that brutal honesty because it
I prefer that brutal honesty because it serves a purpose the receiver can do
serves a purpose the receiver can do
serves a purpose the receiver can do something about it if it’s a
something about it if it’s a
something about it if it’s a constructive criticism if you get for
constructive criticism if you get for
constructive criticism if you get for the hypocritical politeness you might
the hypocritical politeness you might
the hypocritical politeness you might lose a lot so again it’s about having
lose a lot so again it’s about having
lose a lot so again it’s about having enough confidence to say the other
enough confidence to say the other
enough confidence to say the other person will eventually appreciate it and
person will eventually appreciate it and
person will eventually appreciate it and that’s logo good slogan came after I was
that’s logo good slogan came after I was
that’s logo good slogan came after I was working on a company with another major
working on a company with another major
working on a company with another major venture firm and I didn’t believe their
venture firm and I didn’t believe their
venture firm and I didn’t believe their plan would work
plan would work
plan would work they had 45 50 million dollars in the
they had 45 50 million dollars in the
they had 45 50 million dollars in the bank account so everybody was
bank account so everybody was
bank account so everybody was comfortable too comfortable my view I
comfortable too comfortable my view I
comfortable too comfortable my view I talked to the founders why it wouldn’t
talked to the founders why it wouldn’t
talked to the founders why it wouldn’t work what my concerns were the other VCS
work what my concerns were the other VCS
work what my concerns were the other VCS agreed with me in the board meeting said
agreed with me in the board meeting said
agreed with me in the board meeting said all these polite things you know so
all these polite things you know so
all these polite things you know so 40 engineers wasted three or four years
40 engineers wasted three or four years
40 engineers wasted three or four years of their life because nobody was willing
of their life because nobody was willing
of their life because nobody was willing to tell them the honest truth about what
to tell them the honest truth about what
to tell them the honest truth about what they really thought I and I swore I
they really thought I and I swore I
they really thought I and I swore I would never let anybody waste their life
would never let anybody waste their life
would never let anybody waste their life at least give them the best advice I had
at least give them the best advice I had
at least give them the best advice I had to give and tell them I may be wrong but
to give and tell them I may be wrong but
to give and tell them I may be wrong but I’m not going to say something I don’t
I’m not going to say something I don’t
I’m not going to say something I don’t believe in I just want in and that’s
believe in I just want in and that’s
believe in I just want in and that’s extremely valuable to the other thing
extremely valuable to the other thing
extremely valuable to the other thing but to be honest
but to be honest
but to be honest look there are situations you keep it
look there are situations you keep it
look there are situations you keep it offends people and I offend people often
offends people and I offend people often
offends people and I offend people often but it helps them if they’re really
but it helps them if they’re really
but it helps them if they’re really introspective that’s found oh by the way
introspective that’s found oh by the way
introspective that’s found oh by the way in that company called me four years
in that company called me four years
in that company called me four years later after after this company this
later after after this company this
later after after this company this company got sold for three million
company got sold for three million
company got sold for three million dollars for three and a half four years
dollars for three and a half four years
dollars for three and a half four years later sad story and he called me a year
later sad story and he called me a year
later sad story and he called me a year after that said I only want to work with
after that said I only want to work with
after that said I only want to work with you on my next venture because I wish
you on my next venture because I wish
you on my next venture because I wish somebody had told me thank you so much
somebody had told me thank you so much
somebody had told me thank you so much for watching I made this video because
for watching I made this video because
for watching I made this video because Levi’s Mottola asked me to so there’s a
Levi’s Mottola asked me to so there’s a
Levi’s Mottola asked me to so there’s a famous entrepreneur that you want me to
famous entrepreneur that you want me to
famous entrepreneur that you want me to profile next leave it in the comments
profile next leave it in the comments
profile next leave it in the comments below and I’ll see what I can do
below and I’ll see what I can do
below and I’ll see what I 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 ten rules hit you the hardest meant the
ten rules hit you the hardest meant the
ten rules hit you the hardest meant the most to you leave it in the comments and
most to you leave it in the comments and
most to you leave it in the comments and I’ll join the discussion thank you so
I’ll join the discussion thank you so
I’ll join the discussion thank you so much for watching continue to believe
much for watching continue to believe
much for watching continue to believe and I’ll see you soon
mark Nouriel light isn’t all royalty
mark Nouriel light isn’t all royalty it’s really hard failure feels pretty
it’s really hard failure feels pretty
it’s really hard failure feels pretty bad you’re hanging on by your knuckles
bad you’re hanging on by your knuckles
bad you’re hanging on by your knuckles it’s tough it’s a life in which I like
it’s tough it’s a life in which I like
it’s tough it’s a life in which I like to say it’s really a roller coaster that
to say it’s really a roller coaster that
to say it’s really a roller coaster that the highs are really high and the lows
the highs are really high and the lows
the highs are really high and the lows are really love to be lonely it can be
are really love to be lonely it can be
are really love to be lonely it can be difficult being through all of them
difficult being through all of them
difficult being through all of them being through don’t know how me next
being through don’t know how me next
being through don’t know how me next month’s payroll to why I’m the smartest
month’s payroll to why I’m the smartest
month’s payroll to why I’m the smartest person in the world because everything’s
person in the world because everything’s
person in the world because everything’s gone right I’ve seen both emotions all
gone right I’ve seen both emotions all
gone right I’ve seen both emotions all the time in the same soil so despite it
the time in the same soil so despite it
the time in the same soil so despite it being up a hard life an entrepreneurial
being up a hard life an entrepreneurial
being up a hard life an entrepreneurial life isn’t easy it is a lot of fun
life isn’t easy it is a lot of fun
life isn’t easy it is a lot of fun you’re always stretching yourself you’re
you’re always stretching yourself you’re
you’re always stretching yourself you’re always learning something new you’re
always learning something new you’re
always learning something new you’re always pushing the boundaries of what
always pushing the boundaries of what
always pushing the boundaries of what other people think is reasonable but and
other people think is reasonable but and
other people think is reasonable but and I think most on noes are pretty
I think most on noes are pretty
I think most on noes are pretty unreasonable because if there were only
unreasonable because if there were only
unreasonable because if there were only doing reasonable things somebody else
doing reasonable things somebody else
doing reasonable things somebody else would have done and outside two of my
would have done and outside two of my
would have done and outside two of my favorite quotes on this George Bernard
favorite quotes on this George Bernard
favorite quotes on this George Bernard Shaw said human progress depends on the
Shaw said human progress depends on the
Shaw said human progress depends on the unreasonable man he should have said man
unreasonable man he should have said man
unreasonable man he should have said man a woman but I’m being reproducing it
a woman but I’m being reproducing it
a woman but I’m being reproducing it with fidelity Martin Luther King said
with fidelity Martin Luther King said
with fidelity Martin Luther King said something similar he said human progress
something similar he said human progress
something similar he said human progress depends on the socially maladjusted
that’s what entrepreneurs are that’s why
that’s what entrepreneurs are that’s why they do unreasonable tanks and
they do unreasonable tanks and
they do unreasonable tanks and unreasonable things sorry I way past
unreasonable things sorry I way past
unreasonable things sorry I way past your question but dobry just a stream of
your question but dobry just a stream of
your question but dobry just a stream of consciousness and I talk a lot at the
consciousness and I talk a lot at the
consciousness and I talk a lot at the voice sounds nice you know if you’re
voice sounds nice you know if you’re
voice sounds nice you know if you’re doing unreasonable things you’re
doing unreasonable things you’re
doing unreasonable things you’re stretching the balance if you’re doing
stretching the balance if you’re doing
stretching the balance if you’re doing reasonable things you’re not stretching
reasonable things you’re not stretching
reasonable things you’re not stretching the box you’re not really taking risks
the box you’re not really taking risks
the box you’re not really taking risks you’re not going to do something
you’re not going to do something
you’re not going to do something different I like to say not all hard
different I like to say not all hard
different I like to say not all hard things are valuable but most heart the
things are valuable but most heart the
things are valuable but most heart the most valuable things are hard but the
most valuable things are hard but the
most valuable things are hard but the thing about entrepreneurship is it’s not
thing about entrepreneurship is it’s not
thing about entrepreneurship is it’s not about business it’s not about investing
about business it’s not about investing
about business it’s not about investing it’s about having a desire to make a
it’s about having a desire to make a
it’s about having a desire to make a difference most good for companies and I
difference most good for companies and I
difference most good for companies and I suggest you look at every one of them I
suggest you look at every one of them I
suggest you look at every one of them I built from passion for a region you have
built from passion for a region you have
built from passion for a region you have a vision when I started my first company
a vision when I started my first company
a vision when I started my first company dayz systems I looked at how engineers
dayz systems I looked at how engineers
dayz systems I looked at how engineers used to design chips we said that was
used to design chips we said that was
used to design chips we said that was silly and that was there was three of us
silly and that was there was three of us
silly and that was there was three of us we just said we’ll change that way and
we just said we’ll change that way and
we just said we’ll change that way and it was the first CAD company really
it was the first CAD company really
it was the first CAD company really there were a few others but none doing
there were a few others but none doing
there were a few others but none doing quite what Daisy was doing as soon as we
quite what Daisy was doing as soon as we
quite what Daisy was doing as soon as we started working on Daisy it realized
started working on Daisy it realized
started working on Daisy it realized that engineers worked the wrong way all
that engineers worked the wrong way all
that engineers worked the wrong way all engineers not just silicon engineers and
engineers not just silicon engineers and
engineers not just silicon engineers and we started son because we wanted to
we started son because we wanted to
we started son because we wanted to change that lose it I really believe to
change that lose it I really believe to
change that lose it I really believe to this day to achieve anything you really
this day to achieve anything you really
this day to achieve anything you really have to have passion for vision I have a
have to have passion for vision I have a
have to have passion for vision I have a philosophy in life whatever I believe I
philosophy in life whatever I believe I
philosophy in life whatever I believe I should make happen it’s that simple and
should make happen it’s that simple and
should make happen it’s that simple and if a customer is making a mistake
the customer isn’t always right trust me
the customer isn’t always right trust me and if you want to do great products
and if you want to do great products
and if you want to do great products don’t listen to your customers by the
don’t listen to your customers by the
don’t listen to your customers by the way lots of bad lessons in business
way lots of bad lessons in business
way lots of bad lessons in business school I used to give a talk in the 80s
school I used to give a talk in the 80s
school I used to give a talk in the 80s on why not to listen to your customers
on why not to listen to your customers
on why not to listen to your customers and maybe somebody’ll ask me a question
and maybe somebody’ll ask me a question
and maybe somebody’ll ask me a question that story is in fact true there was a
that story is in fact true there was a
that story is in fact true there was a signed contract with a competitor I
signed contract with a competitor I
signed contract with a competitor I stayed in the lobby all day at 6 o’clock
stayed in the lobby all day at 6 o’clock
stayed in the lobby all day at 6 o’clock in the evening and I’d taken a red-eye
in the evening and I’d taken a red-eye
in the evening and I’d taken a red-eye out and I parked in Lobby I met with the
out and I parked in Lobby I met with the
out and I parked in Lobby I met with the CEO of the company mostly because he
CEO of the company mostly because he
CEO of the company mostly because he wanted me to go away by 9 o’clock he had
wanted me to go away by 9 o’clock he had
wanted me to go away by 9 o’clock he had I’d convinced him to meet me in Chicago
I’d convinced him to meet me in Chicago
I’d convinced him to meet me in Chicago with his team the next day because he
with his team the next day because he
with his team the next day because he didn’t want to be seen negotiating with
didn’t want to be seen negotiating with
didn’t want to be seen negotiating with us the following morning the day after
us the following morning the day after
us the following morning the day after at 5:00 a.m. we signed our handwritten
at 5:00 a.m. we signed our handwritten
at 5:00 a.m. we signed our handwritten contract because I wouldn’t let him live
contract because I wouldn’t let him live
contract because I wouldn’t let him live oh this was the CEO of a big East Coast
oh this was the CEO of a big East Coast
oh this was the CEO of a big East Coast company computer vision should we signed
company computer vision should we signed
company computer vision should we signed a hand written contract and life was
a hand written contract and life was
a hand written contract and life was good
good
good the point is if you actually believe
the point is if you actually believe
the point is if you actually believe something you try your best to make it
something you try your best to make it
something you try your best to make it happen it doesn’t always happen but it
happen it doesn’t always happen but it
happen it doesn’t always happen but it happens most of the time most of the
happens most of the time most of the
happens most of the time most of the business school entry story is also true
business school entry story is also true
business school entry story is also true I actually learned that somebody had
I actually learned that somebody had
I actually learned that somebody had dropped out that’s why I showed up and
dropped out that’s why I showed up and
dropped out that’s why I showed up and one of the nice ladies in the business
one of the nice ladies in the business
one of the nice ladies in the business cool office put me in her living room –
cool office put me in her living room –
cool office put me in her living room – her husband’s chagrin and she was real
her husband’s chagrin and she was real
her husband’s chagrin and she was real nice to me but things do work out if you
nice to me but things do work out if you
nice to me but things do work out if you possess not always but I like to say
possess not always but I like to say
possess not always but I like to say failure does not matter its success that
failure does not matter its success that
failure does not matter its success that matters and nobody remembers what you
matters and nobody remembers what you
matters and nobody remembers what you fail that
”
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