A MASTER operator and investor: @rabois

Yesterday: @chamath’s SPAC merger with @Opendoor

Today I inhaled Keith’s podcasts:

@APompliano
@eriktorenberg
@Jason
@david_perell
@patrick_oshag
@AdamDraper

Here are 10 of his most IMPACTFUL ideas

🧵👇
1/ Who is @rabois?

• Political Science at Stanford, Harvard Law

• Exec at @PayPal @LinkedIn @Square

• PayPal Mafia with @elonmusk, @peterthiel, @reidhoffman, @mlevchin

• Investor @Airbnb, @YouTube, @stripe, @DoorDash

• Partner @foundersfund, Founder @Opendoor
2/ Barrels vs. Ammunition

• Barrels: people that take ideas from conception to shipping

• Ammunition: people that can execute a given task

• A company’s output is tied to the number of barrels

Find barrels by constantly expanding scope of responsibilities for employees
3/ Hiring

• Hire aptitude for upside and experience for mitigating risk

• Focus on finding and hiring undiscovered talent

• Interview question: “If you were a product, how would you describe your value proposition”
4/ @rabois’s Investment Criteria

What is anomalous?

What ‘secret’ is the company predicated on?

Could this be 1 of the most important companies on the planet?

What is the accumulating advantage?

Can the founder attract the right talent?

Our investor comparative advantage?
5/ Delayed Gratification

• Keys to success aren’t secret, they’re just painful

• It’s all about deferring immediate for delayed gratification

• “Can you trade long-term gratification for short term sacrifice, and can you compress the feedback loop?”
6/ Accumulating Advantages: as a company gets better/grows, it becomes easier to run

• Eventually B-B+ players can run the company, because it’s so strong you don’t need heroic efforts of talented people

• Why does it become easier? Trust and increased credibility
7/ Successful people

• People that change the world have extreme talent in 1-2 dimensions, then a screw loose in 1-2 dimensions

• Excellent at prioritization and allocating their time

• Ask “How and why are they successful”: Decompose it and try to emulate that
8/ Valuing your time

• Be aware of what you’re consuming and how to get the most possible leverage out of that time

• Spend time with people that are smarter and more successful than you

• Consume more content that’s stood the test of time
9/ “People who are naive about markets, do better than those with experience.”

@patrickc with @stripe
@elonmusk knew nothing about cars before @Tesla
@rabois knew nothing about real estate before @Opendoor

With industry experience, less ‘WHY?’ questions
10/ You don’t discover a startup market, you create it.

“You imagine a better future, you create it, and then you sell tickets” - @rabois

Very different than the @ycombinator method
11/ If you want to learn more from @rabois, he started a short form podcast on @NuggetAudio called “How to Build an Iconic Company”

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More from @chrishlad

9 Sep
🧩 Building a Great Product 🧩

What do you focus on? What do you avoid?

@BrianNorgard
@jmj
@joulee
• @paultoo
@merci
@joshelman
@APatelThompson
@shreyas

8 thoughts from 8 product experts..
1/ “One thing you learn about developing products is that if your aim is to make ALL your users happy, you will fail.“
@BrianNorgard

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3) It doesn’t take advantage of iteration
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How do you find great ideas? How do you evaluate them?

@paulg
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@eriktorenberg
@Austen
@cdixon
• @lennysan
@shl

7 thoughts from 7 deep thinkers…
1/ “Live in the future, then build what’s missing.”
-- @paulg

Pillars of a great idea:
• Something founders themselves want
• Something the founders can build
• FEW others realize the value of it
2/ @sama

The Question: Could this be huge if it works?

“There are many good ideas in the world, but few of them have the inherent advantages that can make a startup massively successful.”
Read 10 tweets
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1/ Fascinating episode with @balajis and @david_perell
on the North Star Podcast

perell.com/podcast/balaji…

-- A Thread of Takeaways 🧵 --
2/ On learning technical topics quickly...

- Don't read the manual first

- Dive in and try problems

- You quickly figure out what you don't know
3/ @balajis on money...

"Money is a tool to build what you can't buy."

(ie: Elon building SpaceX because he can't buy a trip to Mars)
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— A Thread of Wisdom 🧵—
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