Full podcast episode: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE--hxeDjAxvJ8.html Lex Fridman podcast channel: ru-vid.com Guest bio: Marc Andreessen is the co-creator of Mosaic, co-founder of Netscape, and co-founder of the venture capital firm Andreessen Horowitz.
@LexClips Would be extremely happy to see Ben Horrowitz on the podcast too. He's got some quirky ideas and a very different perspective amongst all of these startup and tech magnates!
@@basedpatriotLT im sure it’s different for everyone and we all have different ways we come to the conclusion that we are ready to drop XYZ and embrace the cost, struggle, hardship of starting a business. It’s a big deal for me - comfy job, family, kids, money is tight, etc. but I am very passionate about a business idea that I have brainstormed for 5 years and I just can’t take it anymore with not officially getting it started. I feel 100% ready for the challenge. For you, it might be 1 year of idea development. But for me, it was 5. 5 years of figuring out how I’m going to do this 100x better than the immediate competitors and go 100x harder than they currently are.
@@basedpatriotLT You dont harvest the fruit when it is ripe, harvest fruit when it is rock hard and everyone is eating magos in the sun while you are in the field pulling a waggon. When the waggon is so full that the wheels are screeching and the axels are bending. Then my son, you are ready to reap your harvest and sew your seed into the intestines of the masses.
"puts you in a social tunnel" - well said. Do something you and your team are passionate about. In my experience your team becomes your band of brothers. They're your new social. And yes, you will fail, the first time, but that prepares you to succeed the next time. Pain? oh yeah. But Lex you've demonstrated you can take a lot of pain. But, looking back, also the best ride of your life.
I really like that thought of Permutations of detailed Questions around Customers, Product, go-to market, etc... With clarity, it's pretty easy to sell your idea.
I’ve started numerous companies, you win some, you lose some. Most CEOs make under $50k, only a handful of people who are lucky make $1million +, then it’s mostly in shares. A few get buyouts, and then retire early, generally not for the better, most return back to working building companies.
whats your personal advise for somebody that works on his first prototype and wants to start his first company? what would you tell your younger self starting out
@@IwinMahWay ask them to talk about their story. Watch for passion, interest in the job, prior relevant and non-relevant experience. 80% of communication is evident in facial expression and tone of voice. Great experience is definitely important, but you need to trust, get along and have good relationships with people. One of the most important rules I ever heard was this: “Regard your soldiers as your children, and they will follow you into the deepest valleys; look upon them as your own beloved sons, and they will stand by you even unto death. If, however, you are indulgent, but unable to make your authority felt; kind-hearted, but unable to enforce your commands; and incapable, moreover, of quelling disorder: then your soldiers must be likened to spoilt children; they are useless for any practical purpose.”
@@wujujuju5111 haha. Yes, what I would tell my younger self. I don't know. I lost $500k on my first business and ended up destitute. What I would say to my younger self, is when working in business, do your due diligence with anyone you work with, and if you become a director of an existing company, make sure you understand the cash flow position properly of the company you are going to invest in and work with. Also, don't trust everything everyone tells you. Also, be mindful that when things get difficult, people will not be looking out for your interests, unless it is in their interests. Also, marketing can only go so far, if you have a bad product or a good product, it will speak for itself. (You cannot turn a bad product into a good product with marketing). Finally, keep fit, eat well and sleep well. Your business, like you, will speed ahead much faster when you are at your best.
just remember that education is the progressive discovery of our own ignorance, a wise person is not someone who knows it all, but someone that ignores nothing.
I have little knowledge of Tech but love that I have access to this Podcast for insight. Despite not working in the industry, I get to listen to those who are creating and shaping the future through all the work Lex puts into his Podcast. I hope he gets to fulfil his dreams, those dreams, as Marc Andreessen noted, that can sometimes be formed and fulled in childhood. What ever path Lex takes going forward it will for sure, be at a price, but this young man has what ever IT takes ...
glad this clip was generated. it was not listed in the shownotes for timestamps. I looked for it today and listened to that selection before finding this clip. or, rather, before the AI found it and pushed it to the top of my feed.
Making great progress on the system ive been designing for years. It's wild to hear so many of the things he says in this clip. Most notably due to the fact that Ive been "chewing" on this idea for a decade, and started working on what would become it when I was a kid. Thankfully I've already made it through the social network disintegration, and my parents have thought Ive been a failure for probably well over a decade. When you don't have anyone to impress, and your kid thinks you're awesome because you're a good, supportive dad, then what else is there left to lose.
That's interesting that Marc says that the most successful companies are idea led. A lot of what I've heard from accelerators is that the idea is not as important as the people and that many incubators like YC look more at the people applying than their idea. In fact a lot of incubators will have founders cycle through ideas to come up with one with traction. I'd be curious what Marc would say to this argument.
I'd say Marc is right here. Even Sam Altman keeps stressing on why strong belief is crucial. That's something I have realised recently as well in my journey that having conviciton on how the solution should look in the long term is important. Its easier to get bounced around with feedback, even from customers on how the initial idea should change. Definitely one needs to balance the main vision and iterating based on feedback and thats the hardest part.
I think this comes down to stage. andreessen horowitz mostly invests in later stage companies. By the time they consider writing a check companies need to have market product fit, traction, and some kind of machine that can be scaled up. If execution has been de-risked the size of the idea and long term vision starts to become more important. YC focuses on seed stage companies. Product market fit has not been achieved. There is no traction. No customers. No moat. In that situation having a founder team that can execute is far more important and the idea needs to morph until traction can be achieved. YC and Marc are both right, they just focus on different parts of the startup lifecycle. For reference I’ve sold one company and deep into my second.
I think it is both. The right founder is also the kind of person to have a good idea that no-one else has thought of and has the domain expertise to execute that idea successfully. There were other social networks around when Facebook was launched for example. But only Mark really understood the problem well enough to build a successful product. I think James Altucher says it best when he says “good execution is a set of good ideas”. The best founders know the problem SO well that, not only do they have the initial idea for the product, but they also have a set of good ideas on how to execute the product successfully as well… which is similar to the “idea maze” concept Marc talks about in this video.
Amazing that Product Market Fit never enters the conversation - The idea Maze part seems that there's no talking to potential customers. How does he find the thing that people actually want?
3 of the most admirable traits that people should constantly be trying to practice and improve. Of course some people have to/are encouraged to develop those traits at a higher level growing up, but there’s no excuse to not hone those traits just like any skill people try to develop.
Lex, does "passion" equate with "super-energetic?" with passion, you get a lot of "interest, connect" but being able to have the means for a lot of physicality, can do a lot of actions is going to be different. mentally, I might be passionate, or highly engaged or interested. but, physically, I might be too tired to get too too much done of consequence. these can be two very different "relationships" hence why they are two different words or statements.
Take advantage of the fact that you're not married and have no children,so you have the opportunity to dedicate yourself to your goal. After 7-8 years you will still be young and you can get married and have kids, if you really want it.
Start off weak but ends up being very good advice and excellent real info instead of romanticized BS about starting companies that we usually hear in MSM.
This is why devs have mental health problems. They know the only difference between their current life and a small fortune is their willingness to sit down and actually make or learn something. The problem is if you actually try to make the next big app you will fail. Not because of your skills but because you tried too hard.
we definitely need a round 2, 3, 4 -- and soon we need one "100% on AI" (a MUST) we need one the complements with more details on the concepts of things (life, work, etc) we need one on technical, engineering we need one on contacts, people, relationships we need one on faith, belief, morals, what are the range and types of people we need one covering "deals" and results we need more historical analysis
So apparently it really helps to be a manic narcissist if you want to start a company. Does that apply to any of the current famous founders? Say, if two billionaires dared each other to an mma fight in a cage?
you know, I feel like a good chunk of this is outdated. Everything is moving so quickly now, you simply don't have years or decades to mull over most things.
What Marc is saying is arrogant and irrelevant. Almost none of us were taught a lot of things, but yet we have passion. If there's a need for the product and you believe in you, then it can be done.
