Garry Tan

You'd have to design email.

And so there is a deep, long history of defense and primary research dollars going into fun technology that then gets commercialized and then it becomes the thing that everyone uses.

If there was going to be a second Silicon Valley somewhere else in the world, where do you think that would be?

I think New York City right now.

The reason why we tell everyone to be in San Francisco is the rate of and likelihood of someone creating a company worth a billion dollars or more is 2.5x higher if they move to the San Francisco Bay Area.

And then it's about 2x higher if they're in New York City.

Tell me about the personality of the founders.

Is there anything that you see that runs through many of them?

mean the two traits that i really love to see one is earnestness which is very unusual as a trait this definitely comes from jessica livingston in particular there's this idea that the best founders are sort of hucksters and

I would say 90% of the people that really, really make it are not that.

They're actually very earnest about what they're trying to do.

And this is in contrast to like cynical or like a snake oil salesman.

We're always sort of fighting this war where there are always founders who sort of take it too far.

There are always founders who do things that they shouldn't do.

I guess the funniest thing to say would be the really, really good ones know how far to take it and not farther.

And we just fund so many founders, period, that the ones that don't make it, a lot of times they don't make it because they went too far.

And I'm still trying to figure out what to do about that, actually.

Because if you come down too hard, you're going to lose all the weirdos.

But on the other hand, clearly, you need to have some sort of consequence.

And so we're trying to figure it out.