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How to Build an Iconic Company – Keith Rabois [audio]
- rbranson 6y agoAn investor taking credit for founder's work is probably NOT the way to build an iconic company. https://twitter.com/rabois/status/1260257254957215749 https://twitter.com/rabois/status/1260257254957215749
- ceilingcorner 6y agoYour comment is misleading. In no way is he taking credit for the founders’ work. He clearly says he was looking to fund someone in that space.
- georgewsinger 6y agoHow is that tweet "taking credit for founder's work"? Also have you seen this guy's resume? https://en.wikipedia.org/wiki/Keith_Rabois#Business_career https://en.wikipedia.org/wiki/Keith_Rabois#Business_career Yeah -- he's in no need to take credit for other people's work. I love taking advice from people like Keith Rabois because you know (unlike 99% of other VCs) he actually has experience building mega-unicorns himself.
- mdonahoe 6y agoI read it differently. It reminds me of some advice on pitching: “Don’t waste you’re time trying to convince hesitant investors you have a good idea. Find the investors who already know it’s a good idea, and then convince them you’re the team whose going to do it.”
- michaeln 6y agoI find that longer content works better for me when trying to understand important concepts. I generally need repetition and context (why is this a valuable concept? how'd you get here?). While it's quicker to digest bite sized audio, I tend to forget the takeaway easily. Have found these links to be helpful in understanding the concepts here: * https://startupclass.samaltman.com/courses/lec14/ https://startupclass.samaltman.com/courses/lec14/ * https://www.youtube.com/watch?v=9HGRap1cJ3k&feature=emb_title https://www.youtube.com/watch?v=9HGRap1cJ3k&feature=emb_titl...
- polote 6y agoSounds like someone with a good SV network is starting the Twitter of podcasts
- papito 6y agoUsually it's 50% hard work, and 50% being at the right place at the right time. Nothing is guaranteed.
- ditonal 6y agoTo his point about finding undiscovered talent, VCs are obsessed with finding people they can underpay via selling them on their “vision” and “impact”. They claim they can’t compete with Google and Facebook on comp, but the truth is they don’t even try to do so by offering fair equity deals. Instead they use rigged instruments like common ISOs with liquidation preference and 90 day exercise windows to intentionally screw early employees over. If they offered fair terms, many talented people would love to be involved in small companies over FAANG, but these types insist on screwing people over and paying them with speeches about “visions.” The vision of these VCs is always enriching themselves. It’s also absolutely hilarious that his example of finding undiscovered talent at PayPal was by looking at Stanford students. He’s trying to make a point that you should do out of the box thinking on recruiting and his best example is recruiting from the most prestigious university in Silicon Valley. It’s almost difficult to distinguish from satire.
- renewiltord 6y agoOpendoor was founded by Rabois and has a 3-year-exercise window if you're there for 3 years.
- jagged-chisel 6y agoJust to be clear: that's 3 years after leaving the company, they'll still honor your options agreement?
- arcticbull 6y agoPinterest began this trend back in 2014-ish, with a 7 year exercise window post-departure. A few companies followed suit, but many more established startups switched to RSUs -- and earlier-stage startups stuck to their 90 day exercise window because it's the 'beaten path' and they didn't want to waste their capital paying lawyers to draft bespoke options agreements.
- renewiltord 6y agoYes, AFAIK
- AnonyMouse007 6y agoSo, is this the same guy who was shouting homophobic slurs at an instructor while studying at Stanford in the 1990s and who was later accused by a male employee of sexual harrassment at Square and fired?
- facethrowaway 6y agoYes. Since he is the Roger Stone of the PayPal Mafia, he’s not going to go away anytime soon.