J. Cal

And so there is no panacea here. I mean, sometimes the founder's job is to get in the weeds of something that's broken in a company. For sure. And get down to micromanagement. Other times, you want to step back and let the sales team cook because they're crushing it.

And so there is no panacea here. I mean, sometimes the founder's job is to get in the weeds of something that's broken in a company. For sure. And get down to micromanagement. Other times, you want to step back and let the sales team cook because they're crushing it.

Freeberg, you're back in the founder's seat after a brief sojourn as an investor. Any of this ring true to you or obvious? Did you read the essay? Any thoughts on it, the reaction to it?

Freeberg, you're back in the founder's seat after a brief sojourn as an investor. Any of this ring true to you or obvious? Did you read the essay? Any thoughts on it, the reaction to it?

It's very different in the place where Paul Graham and I invest, year zero, year one of a company. And Chamath, you alluded to this. In that time period, going from zero to one, from no customers to one customer, it's about really having a team of builders, people who can actually build a product,

It's very different in the place where Paul Graham and I invest, year zero, year one of a company. And Chamath, you alluded to this. In that time period, going from zero to one, from no customers to one customer, it's about really having a team of builders, people who can actually build a product,

and have what's called product velocity in the industry, the ability to iterate, and then how much time do they spend with customers understanding what those customers' problems are.

and have what's called product velocity in the industry, the ability to iterate, and then how much time do they spend with customers understanding what those customers' problems are.

And so what we'll see is when the professional managers try to do that, they try to get a product to market and achieve what's called product market fit, and then eventually maybe get product or get market pull, as Andy Ratcliffe defines it, which is the market is seeking your product out because of word of mouth and because they need it, which Airbnb and Uber would fall into now.

And so what we'll see is when the professional managers try to do that, they try to get a product to market and achieve what's called product market fit, and then eventually maybe get product or get market pull, as Andy Ratcliffe defines it, which is the market is seeking your product out because of word of mouth and because they need it, which Airbnb and Uber would fall into now.

The difference between those two moments in time and who's good at it is pretty different to your point, Shamath. So to be able to win both those bets is hard. That's like a parlay in a way. Getting the product market fit requires this sort of relentlessness in innovation and trying things. If you have experience in that vertical, it works against you.

The difference between those two moments in time and who's good at it is pretty different to your point, Shamath. So to be able to win both those bets is hard. That's like a parlay in a way. Getting the product market fit requires this sort of relentlessness in innovation and trying things. If you have experience in that vertical, it works against you.

So we were looking at a company today in our firm that has a really good idea. And it's people who are from the industry, but they have an okay idea. It's people from the industry, but they can't get the product built because they're senior managers who have 20 years experience in this particular vertical. you would much rather see neophytes come at the vertical.

So we were looking at a company today in our firm that has a really good idea. And it's people who are from the industry, but they have an okay idea. It's people from the industry, but they can't get the product built because they're senior managers who have 20 years experience in this particular vertical. you would much rather see neophytes come at the vertical.

So if you look at the companies mentioned here, Airbnb, Uber, and then SpaceX and Tesla, you just look at those four companies, they had no experience, zero, in space, in travel, in transportation, hospitality, or any of the success they had, or electric cars.

So if you look at the companies mentioned here, Airbnb, Uber, and then SpaceX and Tesla, you just look at those four companies, they had no experience, zero, in space, in travel, in transportation, hospitality, or any of the success they had, or electric cars.

But to actually scale those companies, that does require a lot of expertise, a lot of tactics, and people who can focus in a way on very narrow things. And that's sometimes founders who are in that first group, they can't... have that focus on but one tiny little thing, they just get bored with it. And so they have to learn to have really great people recruit really great people.

But to actually scale those companies, that does require a lot of expertise, a lot of tactics, and people who can focus in a way on very narrow things. And that's sometimes founders who are in that first group, they can't... have that focus on but one tiny little thing, they just get bored with it. And so they have to learn to have really great people recruit really great people.

And actually, yes, delegate to them to run a department and say, Hey, we the goal of this organization, and you saw this Chamath when you were at Facebook, I think you've told me so many stories about, you know, you're focused on one thing, The signup flow, getting people to add that second or third friend, getting them to fill out their profile.

And actually, yes, delegate to them to run a department and say, Hey, we the goal of this organization, and you saw this Chamath when you were at Facebook, I think you've told me so many stories about, you know, you're focused on one thing, The signup flow, getting people to add that second or third friend, getting them to fill out their profile.