develop the habits you’ve got the brainpower you’ve got the energy but
brainpower you’ve got the energy but
brainpower you’ve got the energy but develop the habits of success I’ve
develop the habits of success I’ve
develop the habits of success I’ve always thought that each person indented
always thought that each person indented
always thought that each person indented himself for whatever reasons through
himself for whatever reasons through
himself for whatever reasons through whatever circumstance through whatever
whatever circumstance through whatever
whatever circumstance through whatever he has gone through that we are each a
he has gone through that we are each a
he has gone through that we are each a figment of our own imagination you know
figment of our own imagination you know
figment of our own imagination you know I often say there’s a big 12 people to
I often say there’s a big 12 people to
I often say there’s a big 12 people to the table but we’re having a discussion
the table but we’re having a discussion
the table but we’re having a discussion about something and something may turn
about something and something may turn
about something and something may turn up it could be an opportunity half the
up it could be an opportunity half the
up it could be an opportunity half the people don’t recognize this an
people don’t recognize this an
people don’t recognize this an opportunity a lot of people are
opportunity a lot of people are
opportunity a lot of people are comfortable in what they’re doing they
comfortable in what they’re doing they
comfortable in what they’re doing they don’t want change people actually get
don’t want change people actually get
don’t want change people actually get into a zone where they’re very
into a zone where they’re very
into a zone where they’re very comfortable so they don’t like the idea
comfortable so they don’t like the idea
comfortable so they don’t like the idea of risk from day one I just had never
of risk from day one I just had never
of risk from day one I just had never tried to hide that I was the girl in my
tried to hide that I was the girl in my
tried to hide that I was the girl in my apartment with the red backpack like
apartment with the red backpack like
apartment with the red backpack like this is who I am and I find that people
this is who I am and I find that people
this is who I am and I find that people end up rooting for you and opening more
end up rooting for you and opening more
end up rooting for you and opening more doors if you’re really honest early on
doors if you’re really honest early on
doors if you’re really honest early on some people start businesses and try to
some people start businesses and try to
some people start businesses and try to come across that they’re much bigger
come across that they’re much bigger
come across that they’re much bigger than they are because they feel like
than they are because they feel like
than they are because they feel like that’s the only way they’re going to be
that’s the only way they’re going to be
that’s the only way they’re going to be taken seriously but if you know your
taken seriously but if you know your
taken seriously but if you know your products great and you know why you need
products great and you know why you need
products great and you know why you need it you don’t have to apologize for being
it you don’t have to apologize for being
it you don’t have to apologize for being out of your home or your apartment or
out of your home or your apartment or
out of your home or your apartment or being small it’s a crazy business you’ve
being small it’s a crazy business you’ve
being small it’s a crazy business you’ve got to initially work day and night
got to initially work day and night
got to initially work day and night weekend it’s really hard work
so how do you start a business with no
so how do you start a business with no money under the worst conditions that
money under the worst conditions that
money under the worst conditions that your backer doesn’t want to give you a
your backer doesn’t want to give you a
your backer doesn’t want to give you a dime what do you do get ready for a lot
dime what do you do get ready for a lot
dime what do you do get ready for a lot of rejection and at the same exact time
of rejection and at the same exact time
of rejection and at the same exact time do the things others don’t want to do do
do the things others don’t want to do do
do the things others don’t want to do do what’s necessary do what it takes no
what’s necessary do what it takes no
what’s necessary do what it takes no matter what it is and try not to hurt
matter what it is and try not to hurt
matter what it is and try not to hurt anybody along the way I work 24 hours a
anybody along the way I work 24 hours a
anybody along the way I work 24 hours a day seven days a week and I kid that’s
day seven days a week and I kid that’s
day seven days a week and I kid that’s what I cared about I cared about solving
what I cared about I cared about solving
what I cared about I cared about solving problems being successful anytime an
problems being successful anytime an
problems being successful anytime an obstacle presented itself I used it to
obstacle presented itself I used it to
obstacle presented itself I used it to my advantage and made it work and I
my advantage and made it work and I
my advantage and made it work and I never heard the word know if I heard the
never heard the word know if I heard the
never heard the word know if I heard the word no it meant maybe then it may be
word no it meant maybe then it may be
word no it meant maybe then it may be yes
in the end luck plays a very important
in the end luck plays a very important part in how successful you are but the
part in how successful you are but the
part in how successful you are but the harder you work and the longer you work
harder you work and the longer you work
harder you work and the longer you work the luckier you’re going to be and you
the luckier you’re going to be and you
the luckier you’re going to be and you know what everybody wants to hear what
know what everybody wants to hear what
know what everybody wants to hear what they already believe to be true and so
they already believe to be true and so
they already believe to be true and so the last thing they want to hear is an
the last thing they want to hear is an
the last thing they want to hear is an original idea that contradicts their
original idea that contradicts their
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
are the things those are the only
are the things those are the only 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
right
right that create real value in the world
that create real value in the world
that create real value in the world everything else people already know
everything else people already know
everything else people already know there’s no value created it’s just
there’s no value created it’s just
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 basically the
to think for yourself basically the
to think for yourself basically the theory is we’re all born thinking like
theory is we’re all born thinking like
theory is we’re all born thinking like entrepreneurs you know like when we
entrepreneurs you know like when we
entrepreneurs you know like when we crawl and we thought only fall you know
crawl and we thought only fall you know
crawl and we thought only fall you know we’re trying to walk we figure it out
we’re trying to walk we figure it out
we’re trying to walk we figure it out entrepreneurs always figure out you’re
entrepreneurs always figure out you’re
entrepreneurs always figure out you’re born thinking like an entrepreneur that
born thinking like an entrepreneur that
born thinking like an entrepreneur that you know what I’m going to figure this
you know what I’m going to figure this
you know what I’m going to figure this out regardless and I’m going to keep
out regardless and I’m going to keep
out regardless and I’m going to keep going now Austin’s the challenge is
going now Austin’s the challenge is
going now Austin’s the challenge is families and friends convinced you not
families and friends convinced you not
families and friends convinced you not to be an entrepreneur because when you
to be an entrepreneur because when you
to be an entrepreneur because when you say I’m going to change the world I move
say I’m going to change the world I move
say I’m going to change the world I move in to make some famous person I’m going
in to make some famous person I’m going
in to make some famous person I’m going to save the seals they say don’t do that
to save the seals they say don’t do that
to save the seals they say don’t do that you it didn’t happen before it’s never
you it didn’t happen before it’s never
you it didn’t happen before it’s never happy you’re going to you’re going to
happy you’re going to you’re going to
happy you’re going to you’re going to you’re going to fail you can embarrass
you’re going to fail you can embarrass
you’re going to fail you can embarrass us
us
us I put the limiters on it they push the
I put the limiters on it they push the
I put the limiters on it they push the limit is they put the blinders on you
limit is they put the blinders on you
limit is they put the blinders on you but true entrepreneurs will just keep
but true entrepreneurs will just keep
but true entrepreneurs will just keep figuring it out you have the power to
figuring it out you have the power to
figuring it out you have the power to just them you can sit down you can code
just them you can sit down you can code
just them you can sit down you can code something you can try it doesn’t matter
something you can try it doesn’t matter
something you can try it doesn’t matter to you whether some things it’s a good
to you whether some things it’s a good
to you whether some things it’s a good idea or not because you have the power
idea or not because you have the power
idea or not because you have the power to go put that on line and you know and
to go put that on line and you know and
to go put that on line and you know and see whether it resonates with people
see whether it resonates with people
see whether it resonates with people stay focused on on the stuff that that
stay focused on on the stuff that that
stay focused on on the stuff that that you’re that you’re providing to your
you’re that you’re providing to your
you’re that you’re providing to your users you’re going to make a ton of
users you’re going to make a ton of
users you’re going to make a ton of mistakes it doesn’t matter you don’t get
mistakes it doesn’t matter you don’t get
mistakes it doesn’t matter you don’t get judged by the mistakes people don’t
judged by the mistakes people don’t
judged by the mistakes people don’t remember those years from now they
remember those years from now they
remember those years from now they remember the things that you did that
remember the things that you did that
remember the things that you did that were good
people need to understand that we cannot
people need to understand that we cannot take a breath that we have competitors
take a breath that we have competitors
take a breath that we have competitors who want to take the food off of our
who want to take the food off of our
who want to take the food off of our table we have an economy in which
table we have an economy in which
table we have an economy in which there’s 8% unemployment here 9%
there’s 8% unemployment here 9%
there’s 8% unemployment here 9% unemployment in the US and Starbucks
unemployment in the US and Starbucks
unemployment in the US and Starbucks Coffee company is not something you have
Coffee company is not something you have
Coffee company is not something you have to have it is a discretionary purchase
to have it is a discretionary purchase
to have it is a discretionary purchase and so the mentality that you need in a
and so the mentality that you need in a
and so the mentality that you need in a business today Starbucks or otherwise to
business today Starbucks or otherwise to
business today Starbucks or otherwise to build sustainable success in enduring
build sustainable success in enduring
build sustainable success in enduring success is you have to eradicate the
success is you have to eradicate the
success is you have to eradicate the human behavior of relaxing the human
human behavior of relaxing the human
human behavior of relaxing the human behavior of feeling like we have won and
behavior of feeling like we have won and
behavior of feeling like we have won and what I have said in the last two years
what I have said in the last two years
what I have said in the last two years of Starbucks is there’s no celebration
of Starbucks is there’s no celebration
of Starbucks is there’s no celebration there’s no victory left we haven’t done
there’s no victory left we haven’t done
there’s no victory left we haven’t done squat
I don’t have the same opportunities you
I don’t have the same opportunities you yeah you do you do you have every bit
yeah you do you do you have every bit
yeah you do you do you have every bit the opportunity that I did and so you
the opportunity that I did and so you
the opportunity that I did and so you can go out there and do it somebody said
can go out there and do it somebody said
can go out there and do it somebody said well what was your goal go make money
I think my biggest tip is just get
I think my biggest tip is just get started I need a lot of young
started I need a lot of young
started I need a lot of young entrepreneurs who have good ideas or bad
entrepreneurs who have good ideas or bad
entrepreneurs who have good ideas or bad ideas or some ideas and you don’t want
ideas or some ideas and you don’t want
ideas or some ideas and you don’t want to be a person who just talks and talks
to be a person who just talks and talks
to be a person who just talks and talks and talks you have to actually go and do
and talks you have to actually go and do
and talks you have to actually go and do something and don’t worry about if it’s
something and don’t worry about if it’s
something and don’t worry about if it’s the perfect thing or not there is this
the perfect thing or not there is this
the perfect thing or not there is this myth of entrepreneurship that you’ll
myth of entrepreneurship that you’ll
myth of entrepreneurship that you’ll have the one genius idea and suddenly
have the one genius idea and suddenly
have the one genius idea and suddenly everything falls into place it doesn’t
everything falls into place it doesn’t
everything falls into place it doesn’t work like that it’s a hard slog there’s
work like that it’s a hard slog there’s
work like that it’s a hard slog there’s a lot of things to do wrong a lot of
a lot of things to do wrong a lot of
a lot of things to do wrong a lot of things you’ll be right the sooner you
things you’ll be right the sooner you
things you’ll be right the sooner you get started the sooner you’ll get
get started the sooner you’ll get
get started the sooner you’ll get somewhere there’s always going to have
somewhere there’s always going to have
somewhere there’s always going to have to be an element of luck but I think
to be an element of luck but I think
to be an element of luck but I think more important is putting yourself in a
more important is putting yourself in a
more important is putting yourself in a business that can be ubiquitous that Kim
business that can be ubiquitous that Kim
business that can be ubiquitous that Kim that really doesn’t have limits because
that really doesn’t have limits because
that really doesn’t have limits because otherwise there’s always going to be a
otherwise there’s always going to be a
otherwise there’s always going to be a grind to it but if the business if it
grind to it but if the business if it
grind to it but if the business if it can’t be something that you can
can’t be something that you can
can’t be something that you can visualize every business using or every
visualize every business using or every
visualize every business using or every consumer using it’s going to be tough to
consumer using it’s going to be tough to
consumer using it’s going to be tough to scale to be big enough or to have the
scale to be big enough or to have the
scale to be big enough or to have the perceived value to get you to that
perceived value to get you to that
perceived value to get you to that billionaire club I grew up under a
billionaire club I grew up under a
billionaire club I grew up under a premise go in an industry that has a
premise go in an industry that has a
premise go in an industry that has a large profit margin don’t go in one
large profit margin don’t go in one
large profit margin don’t go in one that’s slim the one one that’s large
that’s slim the one one that’s large
that’s slim the one one that’s large take what you’ve got your assets or your
take what you’ve got your assets or your
take what you’ve got your assets or your energy your assets or your willingness
energy your assets or your willingness
energy your assets or your willingness to just not be told no the harder it is
to just not be told no the harder it is
to just not be told no the harder it is the tougher it is the bigger the
the tougher it is the bigger the
the tougher it is the bigger the challenge to get in the bigger the
challenge to get in the bigger the
challenge to get in the bigger the opportunity behind the opportunities
opportunity behind the opportunities
opportunity behind the opportunities behind are endless
now Apple fortunately is one of the
now Apple fortunately is one of the half-a-dozen best brands in the whole
half-a-dozen best brands in the whole
half-a-dozen best brands in the whole world right up there with Nike Disney
world right up there with Nike Disney
world right up there with Nike Disney Coke Sony it is one of the greats of the
Coke Sony it is one of the greats of the
Coke Sony it is one of the greats of the grapes not just in this country but all
grapes not just in this country but all
grapes not just in this country but all around the globe and but even a great
around the globe and but even a great
around the globe and but even a great brand needs investment in caring if
brand needs investment in caring if
brand needs investment in caring if Alexander the Great could conquered the
Alexander the Great could conquered the
Alexander the Great could conquered the known world
known world
known world why couldn’t I start CNN I thought it’d
why couldn’t I start CNN I thought it’d
why couldn’t I start CNN I thought it’d been really carefully but I have studied
been really carefully but I have studied
been really carefully but I have studied a lot a lot more than most of my
a lot a lot more than most of my
a lot a lot more than most of my competitors most people haven’t worked
competitors most people haven’t worked
competitors most people haven’t worked as hard as I have or study design far as
as hard as I have or study design far as
as hard as I have or study design far as I have because but you look back in my
I have because but you look back in my
I have because but you look back in my life most of my decisions almost all of
life most of my decisions almost all of
life most of my decisions almost all of them were brilliant what fear is
them were brilliant what fear is
them were brilliant what fear is stopping you in your tracks and burning
stopping you in your tracks and burning
stopping you in your tracks and burning the soles of your feet
the soles of your feet
the soles of your feet what is conquering that fear whatever it
what is conquering that fear whatever it
what is conquering that fear whatever it is that keeps you from being what the
is that keeps you from being what the
is that keeps you from being what the creator intended for you what if you
creator intended for you what if you
creator intended for you what if you could unleash everything great in your
could unleash everything great in your
could unleash everything great in your life would you do it would you say yes
life would you do it would you say yes
life would you do it would you say yes to that
don’t allow anyone friends family
don’t allow anyone friends family acquaintances teachers whoever it is
acquaintances teachers whoever it is
acquaintances teachers whoever it is don’t allow anyone to tell you that what
don’t allow anyone to tell you that what
don’t allow anyone to tell you that what you are dreaming for yourself and your
you are dreaming for yourself and your
you are dreaming for yourself and your family is not possible it is possible
family is not possible it is possible
family is not possible it is possible don’t be one of those people 20 years
don’t be one of those people 20 years
don’t be one of those people 20 years from now are going to be walking around
from now are going to be walking around
from now are going to be walking around a nine-to-five job
a nine-to-five job
a nine-to-five job miserable and angry and bitter to punish
miserable and angry and bitter to punish
miserable and angry and bitter to punish failure is yet another way to encourage
failure is yet another way to encourage
failure is yet another way to encourage mediocrity
mediocrity
mediocrity because mediocrity is what fearful
because mediocrity is what fearful
because mediocrity is what fearful people will always settle for you know
people will always settle for you know
people will always settle for you know one of the things that I tell people
one of the things that I tell people
one of the things that I tell people when they ask me for advice about what
when they ask me for advice about what
when they ask me for advice about what they should do when they’re wanting to
they should do when they’re wanting to
they should do when they’re wanting to start their own business or take a next
start their own business or take a next
start their own business or take a next step in their career is to actually
step in their career is to actually
step in their career is to actually start small I think a lot of people try
start small I think a lot of people try
start small I think a lot of people try to they kind of psych themselves out or
to they kind of psych themselves out or
to they kind of psych themselves out or they get too overwhelmed with how big
they get too overwhelmed with how big
they get too overwhelmed with how big something can get but the truth is you
something can get but the truth is you
something can get but the truth is you really just got to start small and you
really just got to start small and you
really just got to start small and you got to prove it before you scale it I
like to see people I think it’s really
like to see people I think it’s really important if you various ten minutes I
important if you various ten minutes I
important if you various ten minutes I hate all this new world of people are
hate all this new world of people are
hate all this new world of people are talking so I like the idea of seeing
talking so I like the idea of seeing
talking so I like the idea of seeing people I think you get a very different
people I think you get a very different
people I think you get a very different view when you look in somebody’s are you
view when you look in somebody’s are you
view when you look in somebody’s are you you know in a second whether it’s right
you know in a second whether it’s right
you know in a second whether it’s right I mean I see these people they’re about
I mean I see these people they’re about
I mean I see these people they’re about eight yards away at a desk and they’re
eight yards away at a desk and they’re
eight yards away at a desk and they’re busy be severe talk to them by you
busy be severe talk to them by you
busy be severe talk to them by you emailing each other have a conversation
emailing each other have a conversation
emailing each other have a conversation what happened before email people spoke
what happened before email people spoke
what happened before email people spoke hello good morning how are you
Cubby’s I Google are not getting rich
Cubby’s I Google are not getting rich and user-generated content they’re
and user-generated content they’re
and user-generated content they’re getting rich on the content of companies
getting rich on the content of companies
getting rich on the content of companies like Viacom we’re not going to put put
like Viacom we’re not going to put put
like Viacom we’re not going to put put up with that we’re not going to put up
up with that we’re not going to put up
up with that we’re not going to put up with people taking our product and not
with people taking our product and not
with people taking our product and not paying but they want our product they
paying but they want our product they
paying but they want our product they can have it at the right price since it
can have it at the right price since it
can have it at the right price since it really didn’t pan out and yet some
really didn’t pan out and yet some
really didn’t pan out and yet some things will come through I use the term
things will come through I use the term
things will come through I use the term gold rush rather than mania because I am
gold rush rather than mania because I am
gold rush rather than mania because I am a firm believer that what’s going on at
a firm believer that what’s going on at
a firm believer that what’s going on at the heart of it it is very important
the heart of it it is very important
the heart of it it is very important also there is gold it may be very very
also there is gold it may be very very
also there is gold it may be very very deep and may be buried in different
deep and may be buried in different
deep and may be buried in different places than people think it is but it
places than people think it is but it
places than people think it is but it it’s a great thing this is an area where
it’s a great thing this is an area where
it’s a great thing this is an area where our country is way out the front
our country is way out the front
our country is way out the front you take almost every aspect of of what
you take almost every aspect of of what
you take almost every aspect of of what this entails the fiber optics which is
this entails the fiber optics which is
this entails the fiber optics which is the software the chips the content
the software the chips the content
the software the chips the content coming from media companies and the
coming from media companies and the
coming from media companies and the opportunity to set global standards in
opportunity to set global standards in
opportunity to set global standards in have global markets every country I go
have global markets every country I go
have global markets every country I go to the biggest concern I hear is how far
to the biggest concern I hear is how far
to the biggest concern I hear is how far ahead is the u.s. of my country well
ahead is the u.s. of my country well
ahead is the u.s. of my country well since we don’t have deregulation and in
since we don’t have deregulation and in
since we don’t have deregulation and in a sense we’re not really at the starting
a sense we’re not really at the starting
a sense we’re not really at the starting line in and so I’m certainly a fan of
line in and so I’m certainly a fan of
line in and so I’m certainly a fan of moving ahead aggressively I’m going to
moving ahead aggressively I’m going to
moving ahead aggressively I’m going to put the vast majority of my energy
put the vast majority of my energy
put the vast majority of my energy attention and dollars into building a
attention and dollars into building a
attention and dollars into building a great product or service and put a
great product or service and put a
great product or service and put a smaller amount into shouting about it
smaller amount into shouting about it
smaller amount into shouting about it marketing it because I know if I build a
marketing it because I know if I build a
marketing it because I know if I build a great product or service my customers
great product or service my customers
great product or service my customers will tell each other you have to mix in
will tell each other you have to mix in
will tell each other you have to mix in some patience with that
new companies generally shouldn’t exist
new companies generally shouldn’t exist existing companies are usually pretty
existing companies are usually pretty
existing companies are usually pretty good at what they do and so for a new
good at what they do and so for a new
good at what they do and so for a new company to exist it not only has to like
company to exist it not only has to like
company to exist it not only has to like you know come into good you know going
you know come into good you know going
you know come into good you know going to business to bring a product to market
to business to bring a product to market
to business to bring a product to market but it has to bring a product to market
but it has to bring a product to market
but it has to bring a product to market that’s so much better than what already
that’s so much better than what already
that’s so much better than what already exists that it punches through the sort
exists that it punches through the sort
exists that it punches through the sort of status quo a company is simply a
of status quo a company is simply a
of status quo a company is simply a group of people and as a leader of
group of people and as a leader of
group of people and as a leader of people you have to be a great listener
people you have to be a great listener
people you have to be a great listener and you have to be a great motivator you
and you have to be a great motivator you
and you have to be a great motivator you have to be very good at praising and
have to be very good at praising and
have to be very good at praising and looking for the best in people and
looking for the best in people and
looking for the best in people and people are no different than flowers
people are no different than flowers
people are no different than flowers they keep water flowers they flourish if
they keep water flowers they flourish if
they keep water flowers they flourish if you praise people they flourish and and
you praise people they flourish and and
you praise people they flourish and and that’s a critical attribute of a leader
the education it’s so much more widely
the education it’s so much more widely available there are now so many more
available there are now so many more
available there are now so many more people both here in the valley and
people both here in the valley and
people both here in the valley and around the world who now know how to
around the world who now know how to
around the world who now know how to start a company and that yeahmaybe
start a company and that yeahmaybe
start a company and that yeahmaybe sounds obvious but like it when I
sounds obvious but like it when I
sounds obvious but like it when I arrived in the valley in 1994 like I
arrived in the valley in 1994 like I
arrived in the valley in 1994 like I went to the bookstore and I tried to
went to the bookstore and I tried to
went to the bookstore and I tried to find a book on how they start a tech
find a book on how they start a tech
find a book on how they start a tech company and like it was a long and
company and like it was a long and
company and like it was a long and lonely trip through the bookshelves like
lonely trip through the bookshelves like
lonely trip through the bookshelves like there was very little I mean luckily
there was very little I mean luckily
there was very little I mean luckily Andy’s Andy’s book was there but Andy’s
Andy’s Andy’s book was there but Andy’s
Andy’s Andy’s book was there but Andy’s book was about how to run himself which
book was about how to run himself which
book was about how to run himself which it was monopoly I didn’t couldn’t really
it was monopoly I didn’t couldn’t really
it was monopoly I didn’t couldn’t really get a lot of benefit out of that my
get a lot of benefit out of that my
get a lot of benefit out of that my startup that at the time and so like the
startup that at the time and so like the
startup that at the time and so like the resources just simply didn’t exist right
resources just simply didn’t exist right
resources just simply didn’t exist right and today you’ve got you know everything
and today you’ve got you know everything
and today you’ve got you know everything you’ve got a lot of it comes out of
you’ve got a lot of it comes out of
you’ve got a lot of it comes out of Stanford so like this is the CS 180 just
Stanford so like this is the CS 180 just
Stanford so like this is the CS 180 just the CS 183 courses Stanford the very
the CS 183 courses Stanford the very
the CS 183 courses Stanford the very simple have taught Peter taught and that
simple have taught Peter taught and that
simple have taught Peter taught and that moment is taught like and then the fact
moment is taught like and then the fact
moment is taught like and then the fact that those classes are not just
that those classes are not just
that those classes are not just accessible to people at Stanford they’re
accessible to people at Stanford they’re
accessible to people at Stanford they’re accessible to people all around the
accessible to people all around the
accessible to people all around the world and there are people all around
world and there are people all around
world and there are people all around the world watching right those are those
the world watching right those are those
the world watching right those are those videos all the time learning how to
videos all the time learning how to
videos all the time learning how to start companies if you’re thinking about
start companies if you’re thinking about
start companies if you’re thinking about starting a company it therefore really
starting a company it therefore really
starting a company it therefore really stresses an idea and again I’ll use my
stresses an idea and again I’ll use my
stresses an idea and again I’ll use my computer keel on the shoulder thing
computer keel on the shoulder thing
computer keel on the shoulder thing channel this through something computer
channel this through something computer
channel this through something computer says I think is really relevant which is
says I think is really relevant which is
says I think is really relevant which is a lot of founders think about what it
a lot of founders think about what it
a lot of founders think about what it takes to get the second person in the
takes to get the second person in the
takes to get the second person in the company right the second founder – the
company right the second founder – the
company right the second founder – the second engineer
second engineer
second engineer to the third person the fourth person he
to the third person the fourth person he
to the third person the fourth person he says that’s no longer the challenge like
says that’s no longer the challenge like
says that’s no longer the challenge like everybody wants to start a company so
everybody wants to start a company so
everybody wants to start a company so everybody can get together two or three
everybody can get together two or three
everybody can get together two or three or four people to start a company
or four people to start a company
or four people to start a company he said the challenge is how do you get
he said the challenge is how do you get
he said the challenge is how do you get engineer number 20 because engineer
engineer number 20 because engineer
engineer number 20 because engineer number 20 right if they’re in this
number 20 right if they’re in this
number 20 right if they’re in this ecosystem they could go start their own
ecosystem they could go start their own
ecosystem they could go start their own company and so how do you convince
company and so how do you convince
company and so how do you convince somebody to join your company is
somebody to join your company is
somebody to join your company is engineer number 20 with a tiny
engineer number 20 with a tiny
engineer number 20 with a tiny percentage of equity right and and not
percentage of equity right and and not
percentage of equity right and and not being in charge as compared to starting
being in charge as compared to starting
being in charge as compared to starting their own company getting all the equity
their own company getting all the equity
their own company getting all the equity and being in charge now one of the
and being in charge now one of the
and being in charge now one of the things you do is you tell them they’re
things you do is you tell them they’re
things you do is you tell them they’re going to have the same problem but then
going to have the same problem but then
going to have the same problem but then they respond to you that you also have
they respond to you that you also have
they respond to you that you also have that problem and then you sit there and
that problem and then you sit there and
that problem and then you sit there and stare at each other awkwardly
stare at each other awkwardly
stare at each other awkwardly so so that that’s the thing so so what
so so that that’s the thing so so what
so so that that’s the thing so so what you have right now is you just have you
you have right now is you just have you
you have right now is you just have you have you have just a very very large
have you have just a very very large
have you have just a very very large number of seed funded companies that are
number of seed funded companies that are
number of seed funded companies that are experiments and their experiments on
experiments and their experiments on
experiments and their experiments on their ideas but more importantly their
their ideas but more importantly their
their ideas but more importantly their experiments on who has the will and the
experiments on who has the will and the
experiments on who has the will and the drives and the horsepower right in the
drives and the horsepower right in the
drives and the horsepower right in the salesmanship and everything else that
salesmanship and everything else that
salesmanship and everything else that goes into recruiting right and so and
goes into recruiting right and so and
goes into recruiting right and so and every guy should Sam Altman gave a talk
every guy should Sam Altman gave a talk
every guy should Sam Altman gave a talk today so if you can wave a magic wand
today so if you can wave a magic wand
today so if you can wave a magic wand you would combine a lot of these
you would combine a lot of these
you would combine a lot of these companies together to get critical mass
companies together to get critical mass
companies together to get critical mass but mergers between startups almost
but mergers between startups almost
but mergers between startups almost never happened for a variety of reasons
never happened for a variety of reasons
never happened for a variety of reasons and so so it really makes this sort of
and so so it really makes this sort of
and so so it really makes this sort of acute this this recruiting problem is a
acute this this recruiting problem is a
acute this this recruiting problem is a very acute problem by the way you think
very acute problem by the way you think
very acute problem by the way you think about it then as the temptation is to
about it then as the temptation is to
about it then as the temptation is to think about it as a recruiting problem
think about it as a recruiting problem
think about it as a recruiting problem which is we have to get really good at
which is we have to get really good at
which is we have to get really good at recruiting but it’s not really that as
recruiting but it’s not really that as
recruiting but it’s not really that as much as it’s like okay what about my
much as it’s like okay what about my
much as it’s like okay what about my company is going to be so spectacular
company is going to be so spectacular
company is going to be so spectacular and so special and so unusual and so
and so special and so unusual and so
and so special and so unusual and so distinct and differentiated that it’s
distinct and differentiated that it’s
distinct and differentiated that it’s going to be able to easily hire engineer
going to be able to easily hire engineer
going to be able to easily hire engineer number 20 away from starting his or her
number 20 away from starting his or her
number 20 away from starting his or her own company and so to me it basically
own company and so to me it basically
own company and so to me it basically translates into basically we just we
translates into basically we just we
translates into basically we just we have to get better like you just have to
have to get better like you just have to
have to get better like you just have to get better you have to be able to
get better you have to be able to
get better you have to be able to compete you have to be able to win in
compete you have to be able to win in
compete you have to be able to win in this really brutal initial battle the
this really brutal initial battle the
this really brutal initial battle the good news is the companies coming out of
good news is the companies coming out of
good news is the companies coming out of that sort of churning kind of you know
that sort of churning kind of you know
that sort of churning kind of you know sort of you know sort of snake bit of
sort of you know sort of snake bit of
sort of you know sort of snake bit of competition the companies that come out
competition the companies that come out
competition the companies that come out of that are really strong because they
of that are really strong because they
of that are really strong because they had to be allowed to come through it but
had to be allowed to come through it but
had to be allowed to come through it but it it is tougher and it is the other
it it is tougher and it is the other
it it is tougher and it is the other side of how we see it’s become too
side of how we see it’s become too
side of how we see it’s become too certain to start the companies
try to do something that you would want
try to do something that you would want to do anyway whether it’s it doesn’t
to do anyway whether it’s it doesn’t
to do anyway whether it’s it doesn’t necessarily have to be a very successful
necessarily have to be a very successful
necessarily have to be a very successful business because when you do decide to
business because when you do decide to
business because when you do decide to become an entrepreneur and start a
become an entrepreneur and start a
become an entrepreneur and start a business chances are it’s not going to
business chances are it’s not going to
business chances are it’s not going to do it’s not going to become like a
do it’s not going to become like a
do it’s not going to become like a multi-million dollar business so if we
multi-million dollar business so if we
multi-million dollar business so if we do something that you love in the
do something that you love in the
do something that you love in the beginning so that even if it fails you’d
beginning so that even if it fails you’d
beginning so that even if it fails you’d still enjoy it again this is a it’s
still enjoy it again this is a it’s
still enjoy it again this is a it’s again another version of market you
again another version of market you
again another version of market you always on you know it’s again you could
always on you know it’s again you could
always on you know it’s again you could you have a lot of big markets where you
you have a lot of big markets where you
you have a lot of big markets where you have sort of inch deep mile wide type
have sort of inch deep mile wide type
have sort of inch deep mile wide type type products and and payments is always
type products and and payments is always
type products and and payments is always sort of a version of this where we’re
sort of a version of this where we’re
sort of a version of this where we’re one of the big challenges is you know
one of the big challenges is you know
one of the big challenges is you know how do you get the first people to use
how do you get the first people to use
how do you get the first people to use your product how do you get people to
your product how do you get people to
your product how do you get people to use your your new payment system for
use your your new payment system for
use your your new payment system for example and so it has to be really
example and so it has to be really
example and so it has to be really valuable to the first people who are
valuable to the first people who are
valuable to the first people who are using it and so you want to find things
using it and so you want to find things
using it and so you want to find things that are you know which is a very
that are you know which is a very
that are you know which is a very intense need PayPal is like well the
intense need PayPal is like well the
intense need PayPal is like well the power sellers heading use checks if you
power sellers heading use checks if you
power sellers heading use checks if you get the money instruments you should cut
get the money instruments you should cut
get the money instruments you should cut the time from seven to ten days to two
the time from seven to ten days to two
the time from seven to ten days to two instantly that was worth that was worth
instantly that was worth that was worth
instantly that was worth that was worth quite a bit um in many other contexts we
quite a bit um in many other contexts we
quite a bit um in many other contexts we already have payment systems that work
already have payment systems that work
already have payment systems that work as that work pretty well or very well
as that work pretty well or very well
as that work pretty well or very well and if you have something that’s perfect
and if you have something that’s perfect
and if you have something that’s perfect that’s only a small Delta – very well
that’s only a small Delta – very well
that’s only a small Delta – very well and you know we always you always say
and you know we always you always say
and you know we always you always say that you shouldn’t let the perfect be
that you shouldn’t let the perfect be
that you shouldn’t let the perfect be the enemy of the very good I think in
the enemy of the very good I think in
the enemy of the very good I think in business is often the opposite where in
business is often the opposite where in
business is often the opposite where in practice that very good will prevent the
practice that very good will prevent the
practice that very good will prevent the perfect from ever arising so if you have
perfect from ever arising so if you have
perfect from ever arising so if you have things that are working very well and
things that are working very well and
things that are working very well and you have something that’s going to be
you have something that’s going to be
you have something that’s going to be theoretically perfect that’s often a
theoretically perfect that’s often a
theoretically perfect that’s often a really bad idea
make sure you choose you know when
make sure you choose you know when you’re trying to decide whether or not
you’re trying to decide whether or not
you’re trying to decide whether or not an idea is good enough to pursue or
an idea is good enough to pursue or
an idea is good enough to pursue or particular business is something you
particular business is something you
particular business is something you want to want to go forward with make
want to want to go forward with make
want to want to go forward with make sure that it’s the type of business that
sure that it’s the type of business that
sure that it’s the type of business that when you’re standing in the shower it’s
when you’re standing in the shower it’s
when you’re standing in the shower it’s the thing you want to think about for
the thing you want to think about for
the thing you want to think about for the next 10 or 20 years you know I think
the next 10 or 20 years you know I think
the next 10 or 20 years you know I think it’s kind of in life a lot of times when
it’s kind of in life a lot of times when
it’s kind of in life a lot of times when people are down they look at how to
people are down they look at how to
people are down they look at how to survive while they’re down but stay at
survive while they’re down but stay at
survive while they’re down but stay at that survival mode long term opposed to
that survival mode long term opposed to
that survival mode long term opposed to I’m gonna learn how to survive right now
I’m gonna learn how to survive right now
I’m gonna learn how to survive right now and make it but I’m immediately going to
and make it but I’m immediately going to
and make it but I’m immediately going to work towards the next step the next step
work towards the next step the next step
work towards the next step the next step and the next step but so I mean so how
and the next step but so I mean so how
and the next step but so I mean so how did you learn how did you learn how to
did you learn how did you learn how to
did you learn how did you learn how to be a successful entrepreneur well I
be a successful entrepreneur well I
be a successful entrepreneur well I don’t think it’s learning how to be a
don’t think it’s learning how to be a
don’t think it’s learning how to be a successful entrepreneur I think it’s
successful entrepreneur I think it’s
successful entrepreneur I think it’s just being able to do something and know
just being able to do something and know
just being able to do something and know that you have that ability to do it you
that you have that ability to do it you
that you have that ability to do it you see the human race has the ability all
see the human race has the ability all
see the human race has the ability all of you do to do 10 50 times what you’re
of you do to do 10 50 times what you’re
of you do to do 10 50 times what you’re doing right now well if you realize you
doing right now well if you realize you
doing right now well if you realize you have that ability as you go along you
have that ability as you go along you
have that ability as you go along you find obstacles but you overcome them or
find obstacles but you overcome them or
find obstacles but you overcome them or you go right around them like water
you go right around them like water
you go right around them like water might go around him a little bit and and
might go around him a little bit and and
might go around him a little bit and and that’s really a you look at what assets
that’s really a you look at what assets
that’s really a you look at what assets you have it’s a little bit like selling
you have it’s a little bit like selling
you have it’s a little bit like selling whether it’s a tangible product or a
whether it’s a tangible product or a
whether it’s a tangible product or a service it’s got to be the very best and
service it’s got to be the very best and
service it’s got to be the very best and you put forth its features and then how
you put forth its features and then how
you put forth its features and then how it benefits the customer well with
it benefits the customer well with
it benefits the customer well with yourself personally you put for us the
yourself personally you put for us the
yourself personally you put for us the features you have how these features
features you have how these features
features you have how these features might benefit and if you have a product
might benefit and if you have a product
might benefit and if you have a product and I’d love to share this with
and I’d love to share this with
and I’d love to share this with everybody don’t ever go into the selling
everybody don’t ever go into the selling
everybody don’t ever go into the selling business whether you have the greatest
business whether you have the greatest
business whether you have the greatest service in the world
service in the world
service in the world or the greatest product never go in
or the greatest product never go in
or the greatest product never go in there to sell your product go in there
there to sell your product go in there
there to sell your product go in there to be in the reorder business that’s
to be in the reorder business that’s
to be in the reorder business that’s kind of your mentality that’s true yeah
kind of your mentality that’s true yeah
kind of your mentality that’s true yeah because you’re going to sell it that’s
because you’re going to sell it that’s
because you’re going to sell it that’s where your focus is if you want to be in
where your focus is if you want to be in
where your focus is if you want to be in the reorder business even if it’s a
the reorder business even if it’s a
the reorder business even if it’s a one-time product whatever you do is so
one-time product whatever you do is so
one-time product whatever you do is so good that don’t want to tell somebody
good that don’t want to tell somebody
good that don’t want to tell somebody else or reorder themselves right so that
else or reorder themselves right so that
else or reorder themselves right so that kind of helps along the way if you have
kind of helps along the way if you have
kind of helps along the way if you have that mentality do unto others as you
that mentality do unto others as you
that mentality do unto others as you would have others do unto you that’s the
would have others do unto you that’s the
would have others do unto you that’s the basis for most religions but they get
basis for most religions but they get
basis for most religions but they get sometimes carried away in rites and
sometimes carried away in rites and
sometimes carried away in rites and rituals but that’s the core value do
rituals but that’s the core value do
rituals but that’s the core value do unto others as you dev others doing to
unto others as you dev others doing to
unto others as you dev others doing to and then it’s the feeling of knowing
and then it’s the feeling of knowing
and then it’s the feeling of knowing from how genuine you are and because
from how genuine you are and because
from how genuine you are and because people don’t like to just listen to
people don’t like to just listen to
people don’t like to just listen to people talk about themselves how great
people talk about themselves how great
people talk about themselves how great they are they want to now incorporate it
they are they want to now incorporate it
they are they want to now incorporate it to make them successful also or do
to make them successful also or do
to make them successful also or do something a little different and I think
something a little different and I think
something a little different and I think that’s very very important
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