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How does Snowflake plan to get to $1T? CEO sridhar says the answer is compound growth— a lesson he learned working on the search ads team at Google: “Eric Schmidt made us write a ‘$100B revenue plan’ in 2007 or 2008. We all thought this was the funniest thing... show more

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Perplexity CEO Aravind Srinivas: "One thing that Perplexity has is, every revenue we make, unlike certain other [wrapper] companies, every revenue Perplexity makes has positive gross margins." "Because we route through multiple different models, we're very efficient in terms of how we spend on the tokens... we have all this advantage with RAG and orchestration and search. We don't actually need to blow up the [context]." "Every single penny we make, we make profits on that. But the overall company is still yet to be profitable."

Perplexity CEO Aravind Srinivas: "One thing that Perplexity has is, every revenue we make, unlike certain other [wrapper] companies, every revenue Perplexity makes has positive gross margins." "Because we route through multiple different models, we're very efficient in terms of how we spend on the tokens... we have all this advantage with RAG and orchestration and search. We don't actually need to blow up the [context]." "Every single penny we make, we make profits on that. But the overall company is still yet to be profitable."

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Scott on why conviction in an idea is dangerous as an investor but required as a founder: "From the investor seat, I don't think you want to be in love with an idea. That's a risky thing because you'll find a way to express that by investing and make some compromises on the team because you know this idea is just so good, its time has come. But if the team isn't there, 90% of the time it doesn't work. Then there's a whole thing can you swap out the team? But the whole Founders Fund thesis was always no, you need the founder to run the company. But on the company side, you have to be in love with the idea. It's not that rational to start a company. There's a lot easier, more comfortable ways to make money if that's the goal. So it's got to be about what the company is doing specifically. If you want to actually start a company, it better be something that you're really passionate about, or you think that the problem is really important."

Scott on why conviction in an idea is dangerous as an investor but required as a founder: "From the investor seat, I don't think you want to be in love with an idea. That's a risky thing because you'll find a way to express that by investing and make some compromises on the team because you know this idea is just so good, its time has come. But if the team isn't there, 90% of the time it doesn't work. Then there's a whole thing can you swap out the team? But the whole Founders Fund thesis was always no, you need the founder to run the company. But on the company side, you have to be in love with the idea. It's not that rational to start a company. There's a lot easier, more comfortable ways to make money if that's the goal. So it's got to be about what the company is doing specifically. If you want to actually start a company, it better be something that you're really passionate about, or you think that the problem is really important."

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Luca says the team is at least 18 months away from an IPO. "I don't think it's in a year's time. I think the soonest we could do it is in 18 months. I wanted to close this fiscal year and be on track for the revenue milestones that we want to hit." "I want to do $100 million in revenue, but the year started out a little shaky. We did 51 last year. So far, being candid, that doesn't look like I'm going to pull off some big quarter four things."

Luca says the team is at least 18 months away from an IPO. "I don't think it's in a year's time. I think the soonest we could do it is in 18 months. I wanted to close this fiscal year and be on track for the revenue milestones that we want to hit." "I want to do $100 million in revenue, but the year started out a little shaky. We did 51 last year. So far, being candid, that doesn't look like I'm going to pull off some big quarter four things."

Tig

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Marissa Mayer on scaling Google and the internal black market CEO Eric Schmidt created for new hires “One of the things that [former Google CEO Eric Schmidt] talked about a lot was that at every order of magnitude, you should expect every process to break—and you should expect to have to completely reinvent it. It’s very different to deal with tens of people versus hundreds of people versus thousands of people” Marissa shares a story of how one time Eric reinvented Google’s hiring process in a way that initially frustrated everyone: “We had closed the year at about 200 people, and we had a plan to double the size of the company over the coming year. Eric showed up in March, looked at the plan, and said: ‘there’s just no way you guys are going to be able to double the number of employees and keep the quality and culture the way you want it to be.’” Eric then told the company that he would let them collectively hire 50 people that year—versus the 200 they were planning on hiring. And to enforce this, he created 50 laminated dollar bills with Larry Page and Sergey Brin’s faces on them and distributed them to Google’s VPs. Every new hire that year would require one “Larry & Sergey” bill. Naturally, a black market for these “Larrys & Sergeys” developed, and as Marissa describes, it became surprisingly efficient: “What would happen is the Head of Sales would have one and he would really need a new feature to make a sale. So he would [say to the engineer]: ‘look, I’m going to give you this Larry & Sergey but you have to promise you’re going to use it to hire someone who is going to build this feature to secure this revenue.’” She continues: “As painful as it was because there was way too much work to slow down our hiring like this, [the new process] was actually a really good moment for the company because it made us be really thoughtful about how we were scaling and where we were putting our resources. We had to be that much more thoughtful about what to prioritize and where the opportunities were. Yes, hypergrowth is really fun, but you also need to realize that you want that hypergrowth to happen in terms of users and revenue—and not necessarily in terms of the size of the company.”

Marissa Mayer on scaling Google and the internal black market CEO Eric Schmidt created for new hires “One of the things that [former Google CEO Eric Schmidt] talked about a lot was that at every order of magnitude, you should expect every process to break—and you should expect to have to completely reinvent it. It’s very different to deal with tens of people versus hundreds of people versus thousands of people” Marissa shares a story of how one time Eric reinvented Google’s hiring process in a way that initially frustrated everyone: “We had closed the year at about 200 people, and we had a plan to double the size of the company over the coming year. Eric showed up in March, looked at the plan, and said: ‘there’s just no way you guys are going to be able to double the number of employees and keep the quality and culture the way you want it to be.’” Eric then told the company that he would let them collectively hire 50 people that year—versus the 200 they were planning on hiring. And to enforce this, he created 50 laminated dollar bills with Larry Page and Sergey Brin’s faces on them and distributed them to Google’s VPs. Every new hire that year would require one “Larry & Sergey” bill. Naturally, a black market for these “Larrys & Sergeys” developed, and as Marissa describes, it became surprisingly efficient: “What would happen is the Head of Sales would have one and he would really need a new feature to make a sale. So he would [say to the engineer]: ‘look, I’m going to give you this Larry & Sergey but you have to promise you’re going to use it to hire someone who is going to build this feature to secure this revenue.’” She continues: “As painful as it was because there was way too much work to slow down our hiring like this, [the new process] was actually a really good moment for the company because it made us be really thoughtful about how we were scaling and where we were putting our resources. We had to be that much more thoughtful about what to prioritize and where the opportunities were. Yes, hypergrowth is really fun, but you also need to realize that you want that hypergrowth to happen in terms of users and revenue—and not necessarily in terms of the size of the company.”

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🚨BREAKING: Ripple CEO Compares Ripple to Amazon — “We’re an Infrastructure Company, Not a Crypto Company,” Soon Everything Will Be on Blockchain 👀🔥 “In the early days, we called Amazon an internet company. Yahoo was an internet company… But over time, we realized the internet is pervasive in every company.” In the future, companies won’t be labeled “crypto companies.” Blockchain will simply be the underlying ALL infrastructure. “When I talk about Ripple, you’ll rarely hear me refer to Ripple as a crypto or blockchain company. Instead… we’re an infrastructure company — almost a platform company around financial services.” — Ripple CEO Brad Garlinghouse After 10 years, everything will be on crypto and blockchain. 🚀

🚨BREAKING: Ripple CEO Compares Ripple to Amazon — “We’re an Infrastructure Company, Not a Crypto Company,” Soon Everything Will Be on Blockchain 👀🔥 “In the early days, we called Amazon an internet company. Yahoo was an internet company… But over time, we realized the internet is pervasive in every company.” In the future, companies won’t be labeled “crypto companies.” Blockchain will simply be the underlying ALL infrastructure. “When I talk about Ripple, you’ll rarely hear me refer to Ripple as a crypto or blockchain company. Instead… we’re an infrastructure company — almost a platform company around financial services.” — Ripple CEO Brad Garlinghouse After 10 years, everything will be on crypto and blockchain. 🚀

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We choose companies that we work with very carefully, and this company had a HUGE idea. About a month ago GOODPODS (our favourite podcast hosting site) reached out to us about this amazing platform their parent company started. They got Yahoo to agree to donate search engine advertising revenue to animal shelters every single time someone searched using the dogdog extension. They asked us to be the first account to spread the news about this amazing venture. We are proud to partner with dogdog as it’s taking something that hundreds of thousands of people do every single day, that would normally fund shareholders, and give a portion to animals in crisis. We think it’s a brilliant turn of altruism for Yahoo as well. You can get the extension at bunsen dot dogdoghq dot com

We choose companies that we work with very carefully, and this company had a HUGE idea. About a month ago GOODPODS (our favourite podcast hosting site) reached out to us about this amazing platform their parent company started. They got Yahoo to agree to donate search engine advertising revenue to animal shelters every single time someone searched using the dogdog extension. They asked us to be the first account to spread the news about this amazing venture. We are proud to partner with dogdog as it’s taking something that hundreds of thousands of people do every single day, that would normally fund shareholders, and give a portion to animals in crisis. We think it’s a brilliant turn of altruism for Yahoo as well. You can get the extension at bunsen dot dogdoghq dot com

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Elon Musk on what it means to work “super hard” “Depending on how well you want to do—particularly if you’re starting a company—you need to work super hard. What does ‘super hard’ mean? Well, when my brother and I were starting our first company, instead of getting an apartment we just rented a small office and slept on the couch. We showered at the YMCA. And we had just one computer so the website was up during the day and I was coding at night—seven days a week, all the time.” Elon recalls briefly having a girlfriend at the time who also had to sleep at the office if she wanted to be with him. And he frames the math of it as follows if you’re starting a company: “If somebody else is working 50 hours a week and you’re working 100, you’ll get twice as much done in the course of the year as the other company.” Video source: USC (2014)

Elon Musk on what it means to work “super hard” “Depending on how well you want to do—particularly if you’re starting a company—you need to work super hard. What does ‘super hard’ mean? Well, when my brother and I were starting our first company, instead of getting an apartment we just rented a small office and slept on the couch. We showered at the YMCA. And we had just one computer so the website was up during the day and I was coding at night—seven days a week, all the time.” Elon recalls briefly having a girlfriend at the time who also had to sleep at the office if she wanted to be with him. And he frames the math of it as follows if you’re starting a company: “If somebody else is working 50 hours a week and you’re working 100, you’ll get twice as much done in the course of the year as the other company.” Video source: USC (2014)

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Elon Musk on what it means to work “super hard” “Depending on how well you want to do—particularly if you’re starting a company—you need to work super hard. What does ‘super hard’ mean? Well, when my brother and I were starting our first company, instead of getting an apartment we just rented a small office and slept on the couch. We showered at the YMCA. And we had just one computer so the website was up during the day and I was coding at night—seven days a week, all the time.” Elon recalls briefly having a girlfriend at the time who also had to sleep at the office if she wanted to be with him. And he frames the math of it as follows if you’re starting a company: “If somebody else is working 50 hours a week and you’re working 100, you’ll get twice as much done in the course of the year as the other company.” Video source: USC (2014)

Elon Musk on what it means to work “super hard” “Depending on how well you want to do—particularly if you’re starting a company—you need to work super hard. What does ‘super hard’ mean? Well, when my brother and I were starting our first company, instead of getting an apartment we just rented a small office and slept on the couch. We showered at the YMCA. And we had just one computer so the website was up during the day and I was coding at night—seven days a week, all the time.” Elon recalls briefly having a girlfriend at the time who also had to sleep at the office if she wanted to be with him. And he frames the math of it as follows if you’re starting a company: “If somebody else is working 50 hours a week and you’re working 100, you’ll get twice as much done in the course of the year as the other company.” Video source: USC (2014)

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Qasar Younis on how Applied Intuition uses books to mold company culture: "We also read books as a company, as a leadership team, and then we invite the whole company to do it." "Think about your company as this bespoke piece of clothing that you get made, and then you grow, and then before you know it, you have to constantly re-tailor your company for the scale and type of company it is." Qasar Younis Applied Intuition

Qasar Younis on how Applied Intuition uses books to mold company culture: "We also read books as a company, as a leadership team, and then we invite the whole company to do it." "Think about your company as this bespoke piece of clothing that you get made, and then you grow, and then before you know it, you have to constantly re-tailor your company for the scale and type of company it is." Qasar Younis Applied Intuition

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Occidental Petroleum CEO Vicki Hollub: "We made the decision that, geopolitically, we needed to be more of a U.S. company." "When I took over in 2015, 50% of our production was in the Middle East and international operations. Now, 83% of our production is in the United States."

Occidental Petroleum CEO Vicki Hollub: "We made the decision that, geopolitically, we needed to be more of a U.S. company." "When I took over in 2015, 50% of our production was in the Middle East and international operations. Now, 83% of our production is in the United States."

Kevin Carpenter

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Travis Kalanick says all his employees' families thought they were in the CIA while the company was in stealth "We went stealth on this company eight years ago." "I had a whole strategy, like a deck that I would teach with my leadership team, and we called it "be uniconic," and we worked our asses off to be unknown." "So up until a few months ago, I had thousands of employees. Not a single one of them was listed on LinkedIn." "Think about that. How f*cking crazy is that? That is one of the weirdest things of all time." "All my employees' families thought they were in the CIA." "But what happened was, at the end of my time at Uber, the world was getting weird, business became politics, and you were starting to make decisions based on what the New York Times was going to say tomorrow. And I just wanted to wake up in the morning and build."

Travis Kalanick says all his employees' families thought they were in the CIA while the company was in stealth "We went stealth on this company eight years ago." "I had a whole strategy, like a deck that I would teach with my leadership team, and we called it "be uniconic," and we worked our asses off to be unknown." "So up until a few months ago, I had thousands of employees. Not a single one of them was listed on LinkedIn." "Think about that. How f*cking crazy is that? That is one of the weirdest things of all time." "All my employees' families thought they were in the CIA." "But what happened was, at the end of my time at Uber, the world was getting weird, business became politics, and you were starting to make decisions based on what the New York Times was going to say tomorrow. And I just wanted to wake up in the morning and build."

Fireside Alpha

37,115 Aufrufe • vor 1 Tag

Jack Dorsey on why building something for yourself can be better than trying to solve a problem When a 29 year old Jack Dorsey joined the podcasting startup Odeo, he soon learned that no one there really cared about podcasting either: “That was one of Odeo’s biggest failures. We were not building tools for us. We were building tools for other people.” As Odeo struggled, the team began to look for new ideas, and Jack presented his idea for Twitter. Somewhat counterintuitively, the product would not solve a specific problem: “Twitter solves no one’s problem at all. It was something we wanted to use. It was something we wanted to see in the world. It was something we wanted to use on a daily basis, and that’s all that drove us. That’s what got us up every single morning, and that’s what made it meaningful.” It turns out there were more people like Jack and the Odeo team who wanted to use it to. “I think that is one of the biggest lessons I learned—Twitter did not start as a company. Twitter started as a product within another company that was failing. And to me, this really emphasized the fact that entrepreneurship is not necessarily starting a new company. It’s actually just taking significant risk to build what you want to see in the world.” Source: Berkeley Engineering (Oct 2013)

Jack Dorsey on why building something for yourself can be better than trying to solve a problem When a 29 year old Jack Dorsey joined the podcasting startup Odeo, he soon learned that no one there really cared about podcasting either: “That was one of Odeo’s biggest failures. We were not building tools for us. We were building tools for other people.” As Odeo struggled, the team began to look for new ideas, and Jack presented his idea for Twitter. Somewhat counterintuitively, the product would not solve a specific problem: “Twitter solves no one’s problem at all. It was something we wanted to use. It was something we wanted to see in the world. It was something we wanted to use on a daily basis, and that’s all that drove us. That’s what got us up every single morning, and that’s what made it meaningful.” It turns out there were more people like Jack and the Odeo team who wanted to use it to. “I think that is one of the biggest lessons I learned—Twitter did not start as a company. Twitter started as a product within another company that was failing. And to me, this really emphasized the fact that entrepreneurship is not necessarily starting a new company. It’s actually just taking significant risk to build what you want to see in the world.” Source: Berkeley Engineering (Oct 2013)

Startup Archive

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UCONN HC Dan Hurley - Building a System/Identity - "Our system is how hard we play. How hard we get after people every single possession at both ends of the court & on the backboard." - "The number one thing you got to understand if you want to have a program that can sustainably be successful and have a chance to win every single night... It's hard to coach that way because it's fu**ing exhausting. To coach every single possession, every single day and when the losing team runs the line because every single drill we do there is a winner & a loser, when they get this close and miss that line, you better be there to call them out and make the whole team now run with them." - "If you want to start the game 6-0, like I start most games just because my team is ready to go because we go so hard every day."

UCONN HC Dan Hurley - Building a System/Identity - "Our system is how hard we play. How hard we get after people every single possession at both ends of the court & on the backboard." - "The number one thing you got to understand if you want to have a program that can sustainably be successful and have a chance to win every single night... It's hard to coach that way because it's fu**ing exhausting. To coach every single possession, every single day and when the losing team runs the line because every single drill we do there is a winner & a loser, when they get this close and miss that line, you better be there to call them out and make the whole team now run with them." - "If you want to start the game 6-0, like I start most games just because my team is ready to go because we go so hard every day."

James Light

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Jack Dorsey on why building something for yourself can be better than trying to solve a problem When a 29 year old Jack Dorsey joined the podcasting startup Odeo, he soon learned that no one there really cared about podcasting either: “That was one of Odeo’s biggest failures. We were not building tools for us. We were building tools for other people.” As Odeo struggled, the team began to look for new ideas, and Jack presented his idea for Twitter. Somewhat counterintuitively, the product would not solve a specific problem: “Twitter solves no one’s problem at all. It was something we wanted to use. It was something we wanted to see in the world. It was something we wanted to use on a daily basis, and that’s all that drove us. That’s what got us up every single morning, and that’s what made it meaningful.” It turns out there were more people like Jack and the Odeo team who wanted to use it to. “I think that is one of the biggest lessons I learned—Twitter did not start as a company. Twitter started as a product within another company that was failing. And to me, this really emphasized the fact that entrepreneurship is not necessarily starting a new company. It’s actually just taking significant risk to build what you want to see in the world.” Video source: Berkeley Engineering (2013)

Jack Dorsey on why building something for yourself can be better than trying to solve a problem When a 29 year old Jack Dorsey joined the podcasting startup Odeo, he soon learned that no one there really cared about podcasting either: “That was one of Odeo’s biggest failures. We were not building tools for us. We were building tools for other people.” As Odeo struggled, the team began to look for new ideas, and Jack presented his idea for Twitter. Somewhat counterintuitively, the product would not solve a specific problem: “Twitter solves no one’s problem at all. It was something we wanted to use. It was something we wanted to see in the world. It was something we wanted to use on a daily basis, and that’s all that drove us. That’s what got us up every single morning, and that’s what made it meaningful.” It turns out there were more people like Jack and the Odeo team who wanted to use it to. “I think that is one of the biggest lessons I learned—Twitter did not start as a company. Twitter started as a product within another company that was failing. And to me, this really emphasized the fact that entrepreneurship is not necessarily starting a new company. It’s actually just taking significant risk to build what you want to see in the world.” Video source: Berkeley Engineering (2013)

Startup Archive

70,434 Aufrufe • vor 1 Jahr

Rigathi Gachagua: We know they want to do some monkey business. There is a game being played there by the vice chair, who was an official of ODM; she is very close to Hassan Joho. She, the chairman, and Joho have come up with a company called Miru System Company Limited from Korea. They made specs for this tender, tailor-made for this company. In all the elections it has participated in, there was failure. We cannot accept this company; it is being pushed by the vice chair of IEBC together with Ethekon

Rigathi Gachagua: We know they want to do some monkey business. There is a game being played there by the vice chair, who was an official of ODM; she is very close to Hassan Joho. She, the chairman, and Joho have come up with a company called Miru System Company Limited from Korea. They made specs for this tender, tailor-made for this company. In all the elections it has participated in, there was failure. We cannot accept this company; it is being pushed by the vice chair of IEBC together with Ethekon

Citizen TV Kenya

69,172 Aufrufe • vor 26 Tagen

When Elon Musk started SpaceX, he didn't ask for a contract. He rewrote the terms. Eric Jorgenson 📚 ☀️ explains why: "Elon went to the people actually awarding these contracts and said 'We want an outcome-based contract. I want to be incentivized to drive down the cost. I want to be incentivized to hit the deadlines.' For all the talk that happens about him doing things that have never been done before, the things that he's doing that have never been done before are because he drives cost down. And he drives cost down because the vision is not 'Make as much money as I can.' It wasn't 'Start a new aerospace company that's as profitable as possible.' It was 'Get us to Mars.' That is a heroic thing to go in and say 'I know I could get paid X to do mediocre work, but I actually want to take the risk. I want to burn the boats. I want my back to the wall. I want to know that we have to clear this threshold that nobody has ever crossed before. And I want to go tell my team that because that's how we're actually going to achieve this objective that everybody thinks I'm crazy for setting.'"

When Elon Musk started SpaceX, he didn't ask for a contract. He rewrote the terms. Eric Jorgenson 📚 ☀️ explains why: "Elon went to the people actually awarding these contracts and said 'We want an outcome-based contract. I want to be incentivized to drive down the cost. I want to be incentivized to hit the deadlines.' For all the talk that happens about him doing things that have never been done before, the things that he's doing that have never been done before are because he drives cost down. And he drives cost down because the vision is not 'Make as much money as I can.' It wasn't 'Start a new aerospace company that's as profitable as possible.' It was 'Get us to Mars.' That is a heroic thing to go in and say 'I know I could get paid X to do mediocre work, but I actually want to take the risk. I want to burn the boats. I want my back to the wall. I want to know that we have to clear this threshold that nobody has ever crossed before. And I want to go tell my team that because that's how we're actually going to achieve this objective that everybody thinks I'm crazy for setting.'"

David Senra

1,476,640 Aufrufe • vor 5 Monaten

🗣️ Mikel Arteta on Eze's impact: "We knew that he could create an action. He created three actions that he put people almost looking at the goalkeeper one-against-one, but as well I have to trust him. "When they make the rotation, especially on the right-hand side, and Cash’s goal last year he lost him, we conceded the goal - and this year, I think he learned a lesson because every time something was happening he was at it, and I think he helped the team in a great way."

🗣️ Mikel Arteta on Eze's impact: "We knew that he could create an action. He created three actions that he put people almost looking at the goalkeeper one-against-one, but as well I have to trust him. "When they make the rotation, especially on the right-hand side, and Cash’s goal last year he lost him, we conceded the goal - and this year, I think he learned a lesson because every time something was happening he was at it, and I think he helped the team in a great way."

Connor Humm

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