In this episode of the NFX Podcast, Keith Rabois and James Currier examine the rule deviation behind some of technology's greatest startup feats — PayPal, Square, Yelp, and even Apple, Tesla, and SpaceX.
- The 5 People You Spend the Most Time With: It's easy to be a contrarian. It's hard to be right. What are the environmental and psychological factors needed to really think for yourself?
- The Extreme 1% of the Bell Curve: A framework for rule deviation that leads to invention, not replication.
- Being a Founder is Like Chewing Glass: The 3 biggest factors Keith cites that made the early PayPal team so strong, going on to create YouTube, Tesla, SpaceX, LinkedIn, Yammer, & more.
- Counterintuitive KPIs that Transformed Yelp, PayPal, & Square: The non-obvious (even ridiculous-at-first) KPIs that changed their trajectory.
- & much more
Read the essay - www.nfx.com/essays
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Few people in the history of startups have seen more examples of excellence than Keith Rabois. Not surprisingly, Keith is also one of the best investors in Silicon Valley, having achieved great success as an Angel and now at Founders Fund.
Keith Rabois (@rabois), partner at Founders Fund, joins Erik on this episode. It was recorded live at an On Deck Fellowship event in San Francisco. They discuss:- The kinds of companies and founders he looks to fund, including why he wants half of his VC friends to laugh at how ambitious and ridiculous the companies he’s funding are.- Why going from zero to one involves roughly the same amount of pain no matter whether the “one” the company gets to is tiny or a billion-dollar-plus enterprise.- Some of the different spaces he’s invested in recently and how he’s navigated the idea maze in different sectors.- Stories from the early days of PayPal.- Why he likes regulated markets, and why he says “the more legal risk, the better.”- How to think about creating a founding team, and why you need to absolutely make sure you and your co-founders agree on first principles.And of course, they also discuss basketball and politics.Thanks for listening — if you like what you hear, please review us on your favorite podcast platform. Check us out on the web at villageglobal.vc or get in touch with us on Twitter @villageglobal.Venture Stories is brought to you by Village Global, is hosted by co-founder and partner, Erik Torenberg and is produced by Brett Bolkowy.