Key Points from Launch Festival 2016 Talk
The morality of the US is changing.
It's not as unacceptable to lie as it did before. That's why Trump is able do well. For example, the culture Tinder is creating today, something morally wrong 15 years ago, but not acceptable
I will shut down Social Capital
And use the Facebook growth team that got it to 1B users to get Mike Bloomberg elected. Because the party system in the USA is terrible.
40% of startups should never have gotten $ in the 1st place
They will fall by the wayside. We are in the 2-3 year cycle of eliminating this group. The outliers and middle group will be what's less.
Don't spend money on expensive offices
Focus on the basics, focus on the keys, hire great people, grow the sales, and you'll do fine. Things will be fine.
Psychologically it is much harder to start a business today
18 months ago, it would have been easy to raise money and run forward. Now, it takes longer to raise money on a lower valuation. You're forced to REALLY decide. Do you want to do this?
Compete really hard at everything you do
But play by the rules. It needs to be fair. Who gets screwed when Zenefits doesn't play by the rules? The employees.
You want to be with winners
It is best to be the worst player in the best team than the best in a worse team.
"I want to be like that guy, he is like me, I can do it too"
It's about giving people an opportunity and creating role models for everybody. That's what we want to do to solve diversity.
The VC establishment is old, white, male...and FUCKED.
Early Stage Investing = Don't Miss
Empathize with the entrepreneur. Women do this better. My wife was 100% as a picker. Dudes are sloppy at picking.