Having conversations with people like @sophiaamoruso (The Cinderella of Tech!) is why I love doing @thequest_pod.
Here's some of the key lessons and takeaways from our chat:
1. Resilience can be a superpower.
Forbes listed Sophia as one of America’s 'richest self-made women' in 2016.
In 3 months, her company filed for bankruptcy; her wealth, marriage, and life crumbled away. She didn't give up.
Take your learnings from failure and move on.
2. Have a plan.
When you become an entrepreneur, learn from others so you have a basic understanding of things like board advisors, profit-loss statements, and culture.
Don't go in blind.
3. Venture capital is a double-edged sword.
When you raise, know what you are signing up for. A big valuation sets high expectations, and if your watermark is too high you can't raise and will starve when things go bad.
You can read the rest of takeaways from my conversation with @sophiaamoruso on my newsletter: The Quest Digest!
Subscribe to read my thoughts and more lessons: from startups to well-being and everything in between!
Here's a 2-step guide on how to pitch investors for beginners:
[A thread]
Step 1. Create a powerful narrative
Investors might not like your business. But everyone loves a good story.
Stories are powerful tools to get people to understand and care about your ideas. Being overly technical in your pitch can be off-putting and not very compelling.
A simple narrative strucutre:
1️⃣ The world is a certain way (your problem)
2️⃣ Something changes (your solution)
3️⃣ The world is changed for the better (justify your solution).
HEADS UP! You have until Tuesday 12pm PT to make a bid on one of my NFTs!
ALL BIDDERS will be entered for a chance to win $10,000 in bitcoin and ALL NFT holders will be invited to a Zoom call with me 👀
If you’re intimidated by the top bids on the 1/1s, there are 97 versions of my “Selling Twitch to Amazon” NFT, so that’s a great way to participate and to make a bid!
1. Did Citadel’s hedge funds (Citadel Global Equities and Citadel Wellington) hold any short positions in stocks heavily owned by Robinhood users? And did they increase them in the past few days?
2. Subpoena all emails and phone calls between Citadel Securities and Robinhood
3. Subpoena all emails and phone calls between the Wall Street banks and Robinhood (Robinhood gives its shares to Wall Street banks to lend out to hedge fund clients to short through prime brokerage).
Habits can be brutal. I’ve spent the majority of life battling bad ones: including wrestling with alcohol addition for 20+ years.
I learned how to hack habits with help from @JamesClear’s book Atomic Habits. Here’s a summary of what worked for me:
Habit-building is science. Think from first principles.
Rule #1: make it obvious. To change behavior, put up cues in your environment as a constant reminder.
I built a home gym (with great effort), now I can’t escape from daily exercises.
Rule #2: make it attractive. You want to sugarcoat the pain.
I put my phone, with Twitter and other social media apps in my gym (yes, gym hour now 💦). It’s punishing, but works because the incentive is very compelling.