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.Naval on Finding Technical Co-founders Join the conversation: "It's getting harder and harder because these days those people just go and start their own company. So what do you bring to the table that a good technical co-founder would not have? That's number one. And that would either mean... you have some particular deep insight and relationships into a market and you have capital because you've got to bring a lot to the table because you're not creating the product anymore. Or secondly, you have to have a relationship that's pre-existing. You worked together before at some company or you've gone to school together. Outside of those cases, it's incredibly hard to recruit a quality technical co-founder. And I'm not even sure you're in a position to start a company. This is why so many companies come out of universities or come out of the Bay Area because there you're just very likely to have business founders and technical founders next to each other. The business founders at least have enough technical experience that they can properly evaluate the technical co-founder. And then the business founder has to hustle and raise money, recruit people, have a vision, have a customer base, have a market ready to go, and have proven themselves. And now lots and lots of other things to balance out the skills a technical founder brings to the table. There are now more successful cases of solo technical founders starting companies than there are of solo non-technical founders starting companies. So it is an uphill climb. I'm not going to sugarcoat it for you.”show more

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14,487 次观看 • 2 年前 •via X (Twitter)

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4 条评论

Cragin Godley 的头像

Cragin Godley2 年前

@naval building is more brutal than selling, I’ve done both never ending on-call, security threats, 80-100hrs/wk at desk alone, constant interruptions of deep work engineers can learn sales, etc. but not the other way around so you must bring cash, network, expertise to balance this

Asadbek Noyibjonov 的头像

Asadbek Noyibjonov1 年前

@naval Hey Airchat team, can you help me with login issue? I sent detailed msg about issue in dm

•‿• Hantoshi 的头像

•‿• Hantoshi1 年前

@naval hey team🥰 i lost my access to airchat after it force me to update the app. now sms confirmation does not seem to be working. can you assistance please 🙏

Olúwátìmíléhìn 的头像

Olúwátìmíléhìn1 年前

@naval Can’t sign in

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Startup Archive

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"I think in a way, people are somewhat overestimating the founders of companies, and massively underestimating what you can do when the founder is still present and in charge." Tobi talked about how it's not that founders themselves are some kind of super heroes, but that the *role* of a founder is incredibly important because of what the natural moral authority allows them to do.

"I think in a way, people are somewhat overestimating the founders of companies, and massively underestimating what you can do when the founder is still present and in charge." Tobi talked about how it's not that founders themselves are some kind of super heroes, but that the role of a founder is incredibly important because of what the natural moral authority allows them to do.

Jack Altman

43,403 次观看 • 1 个月前

David Sacks: Debt makes your company more fragile Friedberg: “I hate this business. I think venture debt's the worst vulture-like business in Silicon Valley. “ Sacks: “Right. I've always hated when founders take on venture debt. Part of it is that founders forget that they have to pay it back. They treat it like venture capital and they forget about that, and then they get surprised. But the other thing I've never liked about it is it makes you more fragile. It basically subjects you to a bunch of business covenants, and it makes it harder for you to do an abrupt shift in your business, because now you've got a bank looking over your shoulder and they want to make sure they get paid, and they have to review your financials and all the rest of it. And to your point, J Cal, the companies that have free cash flow right now are the ones that again, have the most maneuverability. I hate taking away maneuverability from founders, and that is what debt does because it subjects you to a fixed schedule of payments. And so this is always a thing to remember, whether you're a business or you are an individual, when you put on that debt, it makes you more vulnerable to big disruptions in the market.”

David Sacks: Debt makes your company more fragile Friedberg: “I hate this business. I think venture debt's the worst vulture-like business in Silicon Valley. “ Sacks: “Right. I've always hated when founders take on venture debt. Part of it is that founders forget that they have to pay it back. They treat it like venture capital and they forget about that, and then they get surprised. But the other thing I've never liked about it is it makes you more fragile. It basically subjects you to a bunch of business covenants, and it makes it harder for you to do an abrupt shift in your business, because now you've got a bank looking over your shoulder and they want to make sure they get paid, and they have to review your financials and all the rest of it. And to your point, J Cal, the companies that have free cash flow right now are the ones that again, have the most maneuverability. I hate taking away maneuverability from founders, and that is what debt does because it subjects you to a fixed schedule of payments. And so this is always a thing to remember, whether you're a business or you are an individual, when you put on that debt, it makes you more vulnerable to big disruptions in the market.”

The All-In Podcast

79,095 次观看 • 2 个月前

I asked anamitra why every VC is starting an accelerator: "As more traditional venture funds become stage agnostic, they don't want to lose sight of the formation stage companies. If you lose that, then you become one of 20 VC's trying to invest in any one round. In the past, they've had seed programs for this. And Seed programs historically have been promoted by younger people at those funds, because they're closer to the metal. And seed funds have gone through cycles. They grow, and then they collapse when founders realize Seed deals at these stage agnostic fund don't convert. So they got disintermediated, and the best founders all go to the angels and the seed funds. And then they grow again, and then they collapse again. And every time, all the young people leave the big funds. And that has happened over cycles for a long time. The Series A funds have been trying to penetrate Seed for a long time. And even if you didn't have a good Seed program, you had YC, and Techstars, and all the other accelerators, which would give you great deal flow. And you could go to the demo days and pick up the good ones. And the cool thing, back in the day, was you didn't actually have to wait for the demo day. You could access the companies before demo day, and make the deals beforehand. Even if you wait until demo day, it's wasn't that bad. You could still get decent ownership at $15m or $10m post-money valuations. And then, YC made two changes to their program. One of the big changes that they made sure companies wait until demo day. And the second was introducing the $375k uncapped MFM SAFE. Which incentivized founders to raise their next round at as high a price as possible. So now, founders were incentivized to raise at demo day, and at as high a price as possible. What used to be $10-15m valuation, are now $20m, $25m, and even up to $40m. And so, many funds were who were reliant on deals from YC saw their entry prices suddenly shoot up. And the question for them became, what do we do? If your average entry point was $10 million on a YC deal, it suddenly went up to $40m. You basically cut your returns by 75%. So if your strategy was doing all these YC deals, and getting a 4x return on your fund, everything was good. Suddenly with the new entry prices, you're getting 1x on your fund. And that's not good. For founders, YC gives you a halo, some brand value. They do a ton of programming and help you learn about building a company. Every founder wants to be part of that. No question about it. Look at the roster of companies that they've invested in. At the same time, there are some founders who may want a better option. Who may believe that their company is worth more than $1.8 million. And they should have an option. So I think, investors saw that their entry prices at demo day were going up. And founders are entering these accelerators at $1.8m post. And investors thought, there has to be a price in the middle that we can offer and give founders another option. And that's why they've all started accelerators. And as a result, what's happening is founders now have more choice. So the question now becomes, what do the best founders decide to do? Now that they have more options, what are they going to pick? And so, it makes a lot of sense to me to see these other funds try their own programs. And if they are committed, and focused, and they're able to source and market well, they're going to do really well. As they do really well, that's going to create a positive virtual cycle for future founders to decide which one should they pick. And they'll all have better options. So it's just going to get more competitive. And I would argue, this might have all been started because of the change in the YC deal. If the deal hadn't changed, would we have seen so much downstream impact?"

The Peel

28,637 次观看 • 1 年前

Sequoia's Carl Eschenbach on the founder traits that matter most when scaling a company: "One of the things I absolutely look for is self-awareness in founders, and are they honest about what they’re good at? Because a lot of these founders are just incredibly intelligent human beings, and sometimes they think they can do everything. Do they have the self-awareness to say, 'I need to go get other people as part of the company to help me scale so I can focus on what I’m really good at?'" "There are attributes and characteristics of people that I look for that are way beyond the intelligence side of the equation. You can’t teach grit. You can’t teach drive. You can’t teach a great attitude. You can’t teach determination." "All of those are things that are innate and part of people, and you want to see that in these founders. When you find someone who has that passion, drive, desire, and relentless ability to fight through challenges, issues, and opportunities — and then they have the intellectual horsepower on the other side — when that comes together, that’s a beautiful thing."

Sequoia's Carl Eschenbach on the founder traits that matter most when scaling a company: "One of the things I absolutely look for is self-awareness in founders, and are they honest about what they’re good at? Because a lot of these founders are just incredibly intelligent human beings, and sometimes they think they can do everything. Do they have the self-awareness to say, 'I need to go get other people as part of the company to help me scale so I can focus on what I’m really good at?'" "There are attributes and characteristics of people that I look for that are way beyond the intelligence side of the equation. You can’t teach grit. You can’t teach drive. You can’t teach a great attitude. You can’t teach determination." "All of those are things that are innate and part of people, and you want to see that in these founders. When you find someone who has that passion, drive, desire, and relentless ability to fight through challenges, issues, and opportunities — and then they have the intellectual horsepower on the other side — when that comes together, that’s a beautiful thing."

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"Lexie got a technical in our first game... that really says a lot about you now that you have a technical and I don't." Caitlin Clark on not being the first Fever player to get a technical 😂

"Lexie got a technical in our first game... that really says a lot about you now that you have a technical and I don't." Caitlin Clark on not being the first Fever player to get a technical 😂

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It's not important that your partner is an identical copy of you. It's important that they're not, that they bring something else to the table that you don't have. Now, in the context of entrepreneurship, because that's what I'm associated with, you need to find somebody that's willing to put up with the fact that you're just never there. I mean, that's very difficult because if you're running a business and you can't have a balanced life when you're an entrepreneur. It's really about finding that person that understands what you're about, that you're going down that journey and that you're not gonna stop doing it.

Kevin O'Leary aka Mr. Wonderful

17,254 次观看 • 7 个月前

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."

Patrick OShaughnessy

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Elon Musk: If you are creating a company or joining a company the most important thing is to attract great people "If you are creating a company or joining a company the most important thing is to attract great people, so either be with or join a group that's amazing that you really respect, or if you have building a company you have to gather great people I mean all the company is a group of people that have gathered together to create a product or service and so depending upon how talented and hardworking that group is, and the degree to which they're focused, cohesively, and in a good direction, that will determine the success of the company Do everything you can to gather great people, if you are creating a company"

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12,251 次观看 • 3 个月前

Do you fit into one of the trendiest founder archetypes? Fundraising has always been competitive, but today's market is especially tough for first-time founders. In the latest episode of our Build Mode podcast, Charles Hudson of Precursor Ventures breaks down the most popular founder archetypes right now: repeat founders with proven track records and exceptionally young technical founders. That leaves experienced, first-time founders facing a higher bar, even when they have a compelling business idea. But there’s still hope! Listen and subscribe here:

Do you fit into one of the trendiest founder archetypes? Fundraising has always been competitive, but today's market is especially tough for first-time founders. In the latest episode of our Build Mode podcast, Charles Hudson of Precursor Ventures breaks down the most popular founder archetypes right now: repeat founders with proven track records and exceptionally young technical founders. That leaves experienced, first-time founders facing a higher bar, even when they have a compelling business idea. But there’s still hope! Listen and subscribe here:

TechCrunch

19,983 次观看 • 9 天前

Marc Andreessen on the 3 things he looks for when investing in a startup The first thing Marc Andreesen looks for is a big market: “Is there a big existing market that you think you can go after and displace incumbents? Or do you believe there will be a new market that will be big?” The second thing he looks for is a 10x better product: “Is there a fundamental technology or economic change that justifies a new company? And the way I always think about that is: Is there a 10x change happening in the technology landscape? Is something 10x faster, 10x cheaper, or 10x better? If it’s not 10x, we as both VCs and entrepreneurs have to ask ourselves if it’s really worth doing because it’s really hard to start new companies . . . Existing companies are usually pretty good at what they do. So for a new company to exist, it has to bring a product to market that’s so much better than what exists that it punches through the status quo.” The third is the team: “Is the team outstanding? . . . You want to have a founding team of complementary skillsets. You want to have at least one super strong technologist — quite possibly more than one. Some of the best startups are actually more than one founding technologist. And then it often helps to have someone who is a marketing or salesperson who has a really good understanding of business.” Marc believes that you need all three of these, but if you’re going to compromise on one of those as an investor, it should be the product: “A great market is a lot easier to make up for with iterative product execution. The problem with a poor or small market is that even if you do a good job on the product, there just aren’t that many customers so it’s hard to ever get big and people get demoralized . . . And then we evaluate the team of a startup by its ability to get into a big market with a good product.”

Marc Andreessen on the 3 things he looks for when investing in a startup The first thing Marc Andreesen looks for is a big market: “Is there a big existing market that you think you can go after and displace incumbents? Or do you believe there will be a new market that will be big?” The second thing he looks for is a 10x better product: “Is there a fundamental technology or economic change that justifies a new company? And the way I always think about that is: Is there a 10x change happening in the technology landscape? Is something 10x faster, 10x cheaper, or 10x better? If it’s not 10x, we as both VCs and entrepreneurs have to ask ourselves if it’s really worth doing because it’s really hard to start new companies . . . Existing companies are usually pretty good at what they do. So for a new company to exist, it has to bring a product to market that’s so much better than what exists that it punches through the status quo.” The third is the team: “Is the team outstanding? . . . You want to have a founding team of complementary skillsets. You want to have at least one super strong technologist — quite possibly more than one. Some of the best startups are actually more than one founding technologist. And then it often helps to have someone who is a marketing or salesperson who has a really good understanding of business.” Marc believes that you need all three of these, but if you’re going to compromise on one of those as an investor, it should be the product: “A great market is a lot easier to make up for with iterative product execution. The problem with a poor or small market is that even if you do a good job on the product, there just aren’t that many customers so it’s hard to ever get big and people get demoralized . . . And then we evaluate the team of a startup by its ability to get into a big market with a good product.”

Startup Archive

17,333 次观看 • 5 个月前

Warren Buffett: "You just have to have some conviction that a given company — or a group of companies — [is] likely to earn more money 5 or 10 or 20 years from now than [it's] earning now. And that is not a difficult decision to come to."

Warren Buffett: "You just have to have some conviction that a given company — or a group of companies — [is] likely to earn more money 5 or 10 or 20 years from now than [it's] earning now. And that is not a difficult decision to come to."

Kevin Carpenter

37,022 次观看 • 1 年前

Ben Horowitz says Silicon Valley is hard to recreate because it requires talent, policy, and culture: "The first is you do need the talent... is there a great technical university that graduates people who know how to build things?" "Many countries have that, that don't have a Silicon Valley. And what are they missing? They're missing the other two components." "The second is, do you have a set of laws and policies that facilitate entrepreneurship, are essentially good for business?" "The third one... is the culture such that young people, the most capable young people willing to make the biggest contribution, do they get status, social status reward?" "That's the thing that's so hard to replicate, and it's so hard to build, and it's so easy to destroy." benahorowitz.eth

Ben Horowitz says Silicon Valley is hard to recreate because it requires talent, policy, and culture: "The first is you do need the talent... is there a great technical university that graduates people who know how to build things?" "Many countries have that, that don't have a Silicon Valley. And what are they missing? They're missing the other two components." "The second is, do you have a set of laws and policies that facilitate entrepreneurship, are essentially good for business?" "The third one... is the culture such that young people, the most capable young people willing to make the biggest contribution, do they get status, social status reward?" "That's the thing that's so hard to replicate, and it's so hard to build, and it's so easy to destroy." benahorowitz.eth

a16z

69,547 次观看 • 16 天前

.Marc Andreessen 🇺🇸's recipe for a great founder: two traits and one choice. The traits: intellect and energy. The choice: courage. Courage is pain tolerance. “A huge amount of what people have to do is just get used to getting punched. And the reason people don't understand this is because when you're a founder, you cannot let on that this is happening because it will cause people to think that you're weak, and they'll lose faith in you. So you have to pretend that you're having a great time when you're dying inside.”

.Marc Andreessen 🇺🇸's recipe for a great founder: two traits and one choice. The traits: intellect and energy. The choice: courage. Courage is pain tolerance. “A huge amount of what people have to do is just get used to getting punched. And the reason people don't understand this is because when you're a founder, you cannot let on that this is happening because it will cause people to think that you're weak, and they'll lose faith in you. So you have to pretend that you're having a great time when you're dying inside.”

a16z

274,335 次观看 • 10 个月前

Shola Akinlade, co-founder of Paystack, gives a piece of advice to young entrepreneurs. Focus: there are a lot of distractions out there Courage: have the Courage to pick a problem bigger than you and be very Consistent Clarity: you have different stakeholders. Have the clarity to pursue your own dreams. Don't be focused on how to raise capital. Focus on how to build a great business and capital will find you.

Shola Akinlade, co-founder of Paystack, gives a piece of advice to young entrepreneurs. Focus: there are a lot of distractions out there Courage: have the Courage to pick a problem bigger than you and be very Consistent Clarity: you have different stakeholders. Have the clarity to pursue your own dreams. Don't be focused on how to raise capital. Focus on how to build a great business and capital will find you.

Tuchel

46,048 次观看 • 13 天前

Elon Musk: Creating a successful company is pretty straightforward. “The ability to attract and motivate great people is critical to the success of a company, because a company is just a group of people that are assembled to create a product or service. That's the purpose of a company. People sometimes forget this elementary truth. And so, if you're able to get great people to join the company and work together towards a common goal and sort of have a relentless sense of perfection about that goal, then you will end up with a great product. And if you have a great product, lots of people will buy it, and then the company will be successful. Really, it's pretty straightforward.” Interview with AutoBild TV, November 5, 2014

Elon Musk: Creating a successful company is pretty straightforward. “The ability to attract and motivate great people is critical to the success of a company, because a company is just a group of people that are assembled to create a product or service. That's the purpose of a company. People sometimes forget this elementary truth. And so, if you're able to get great people to join the company and work together towards a common goal and sort of have a relentless sense of perfection about that goal, then you will end up with a great product. And if you have a great product, lots of people will buy it, and then the company will be successful. Really, it's pretty straightforward.” Interview with AutoBild TV, November 5, 2014

ELON CLIPS

18,493 次观看 • 2 个月前