Reid Hoffman

And so applying the rules of entrepreneurship, yes, of course you have to be passionate about what you're doing because if you're not passionate, you can never be world class unless you're passionate about what you're doing. But that's not the only thing. And so you look at, okay, what are the market realities? What's the market? What does the competition look like?

And so applying the rules of entrepreneurship, yes, of course you have to be passionate about what you're doing because if you're not passionate, you can never be world class unless you're passionate about what you're doing. But that's not the only thing. And so you look at, okay, what are the market realities? What's the market? What does the competition look like?

And within those, what can your aspirations be? And there's a whole chapter on that in that book because that's, by the way, similar to how you plot out if you're founding a company. If you're founding a company, you have to think the same way about this, but think about it as an individual. So if you're in Cape Town – There are many great things you could do.

And within those, what can your aspirations be? And there's a whole chapter on that in that book because that's, by the way, similar to how you plot out if you're founding a company. If you're founding a company, you have to think the same way about this, but think about it as an individual. So if you're in Cape Town – There are many great things you could do.

Now, if you say, what I'm going to do is create a search company to compete with Google, don't do that. I mean, unless you really have some real unique thing. Because remember, you're competing with this intensely powerful, not just the company, but the network of Silicon Valley, which attracts millions.

Now, if you say, what I'm going to do is create a search company to compete with Google, don't do that. I mean, unless you really have some real unique thing. Because remember, you're competing with this intensely powerful, not just the company, but the network of Silicon Valley, which attracts millions.

amazing talent from around the world, capital, knowledge, and they're all sharing it with each other at a very fast clock speed. And so wherever you are, that doesn't work. Now, you do think about, okay, what can the thing I do? So, for example, you know, I love podcasts, as you know. I, you know, master scale, possible, et cetera.

amazing talent from around the world, capital, knowledge, and they're all sharing it with each other at a very fast clock speed. And so wherever you are, that doesn't work. Now, you do think about, okay, what can the thing I do? So, for example, you know, I love podcasts, as you know. I, you know, master scale, possible, et cetera.

And so I had the delight of doing interviews with Toby Lutka or Daniel Ek. And what you do is you look at part of their success, Shopify, Spotify, is how do I run my strategy from here? Like how is it that I'm competitive and can win a global field marketplace that Silicon Valley doesn't do?

And so I had the delight of doing interviews with Toby Lutka or Daniel Ek. And what you do is you look at part of their success, Shopify, Spotify, is how do I run my strategy from here? Like how is it that I'm competitive and can win a global field marketplace that Silicon Valley doesn't do?

And so, for example, one of the things that – they're different in the cases because like, for example, in Spotify, that was, hey, I can get the record labels – to give me a chance to start doing the business by doing just Scandinavia, prove it, and then expand it. Whereas those record labels, the capital to do it in the US would never happen. And hence, you have Spotify.

And so, for example, one of the things that – they're different in the cases because like, for example, in Spotify, that was, hey, I can get the record labels – to give me a chance to start doing the business by doing just Scandinavia, prove it, and then expand it. Whereas those record labels, the capital to do it in the US would never happen. And hence, you have Spotify.

And in Shopify, it's, hey, the Silicon Valley tends to go, oh, e-commerce is over its own by Amazon. We're not going to do any of that as a platform. Maybe this thing or that thing, but we're not going to do it as a platform. Well, but they're wrong and I can do a long place.

And in Shopify, it's, hey, the Silicon Valley tends to go, oh, e-commerce is over its own by Amazon. We're not going to do any of that as a platform. Maybe this thing or that thing, but we're not going to do it as a platform. Well, but they're wrong and I can do a long place.

And then once I get to this network effect of a whole bunch of, you know, small and medium businesses doing their own, you know, kind of websites and e-commerce, then I am the platform for that. So it's kind of a long under the radar approach. strategy where you're not directly competing with Silicon Valley companies.

And then once I get to this network effect of a whole bunch of, you know, small and medium businesses doing their own, you know, kind of websites and e-commerce, then I am the platform for that. So it's kind of a long under the radar approach. strategy where you're not directly competing with Silicon Valley companies.

And by the time the Silicon Valley companies go, oh, there's a managerial opportunity, you've got it. So those are plays that you can do if you're smart and strategic. But you have to know, like, Toby Lutka, like, is deeply informed about what's going on in Silicon Valley. Like when he's charting a strategy, he's aware of that. He's got connections. He visits. I mean, I'm a friend of his.

And by the time the Silicon Valley companies go, oh, there's a managerial opportunity, you've got it. So those are plays that you can do if you're smart and strategic. But you have to know, like, Toby Lutka, like, is deeply informed about what's going on in Silicon Valley. Like when he's charting a strategy, he's aware of that. He's got connections. He visits. I mean, I'm a friend of his.

And that's part of, like, if you're doing a global software play, you have to be aware that your competition is global.

And that's part of, like, if you're doing a global software play, you have to be aware that your competition is global.