Reid Hoffman

and and pull together and it's still by the way that may be well okay that gets down to 100 people okay well am i the one who's in motion right now am i the most person who's willing to take the risk quit my job and do it um and you never really get down to one right so so startups are risky businesses like one of the things let's get back to the entrepreneur is like

and and pull together and it's still by the way that may be well okay that gets down to 100 people okay well am i the one who's in motion right now am i the most person who's willing to take the risk quit my job and do it um and you never really get down to one right so so startups are risky businesses like one of the things let's get back to the entrepreneur is like

I think the greatest chance, and even when I was starting LinkedIn, after having started SocialLand, after having co-founded PayPal as a board member, even when I was starting LinkedIn, what I would tell the people was like, look, we have about a maximum of 20%, 25% chance of being successful. just to be clear.

I think the greatest chance, and even when I was starting LinkedIn, after having started SocialLand, after having co-founded PayPal as a board member, even when I was starting LinkedIn, what I would tell the people was like, look, we have about a maximum of 20%, 25% chance of being successful. just to be clear.

We're going to try to grow that to 100%, but we're a couple people in a garage right now. There's all kinds of things that can go wrong. Anyone who's telling you it's 100% now, they're lying to themselves or they're lying to you. I'm very realist and ambitious in my strategy. You should never think you're starting something 100%. Now,

We're going to try to grow that to 100%, but we're a couple people in a garage right now. There's all kinds of things that can go wrong. Anyone who's telling you it's 100% now, they're lying to themselves or they're lying to you. I'm very realist and ambitious in my strategy. You should never think you're starting something 100%. Now,

Within the ideas, you go, there's roughly speaking two kinds of ideas. One kind of idea is People generally think that's a good idea. They think it's a good idea because you go to customers and customers say, yeah, I'd like that. Right? They go, oh, well, hey, AI is going to create a whole bunch of new SaaS businesses. Right? Oh, yeah, that makes sense. They have new technology transformation.

Within the ideas, you go, there's roughly speaking two kinds of ideas. One kind of idea is People generally think that's a good idea. They think it's a good idea because you go to customers and customers say, yeah, I'd like that. Right? They go, oh, well, hey, AI is going to create a whole bunch of new SaaS businesses. Right? Oh, yeah, that makes sense. They have new technology transformation.

Or people in e-commerce, they're going to want to buy this kind of stuff. Okay. You know, it makes sense. So there's a stack of things where... They're pretty measurable as ideas. You can measure them with customers. You can do feedback and polling and other kinds of things. Now, there's good news, bad news on this category. The good news is you can de-risk is there a market for your idea mostly.

Or people in e-commerce, they're going to want to buy this kind of stuff. Okay. You know, it makes sense. So there's a stack of things where... They're pretty measurable as ideas. You can measure them with customers. You can do feedback and polling and other kinds of things. Now, there's good news, bad news on this category. The good news is you can de-risk is there a market for your idea mostly.

Not entirely, but mostly. The bad news is so can a lot of other people.

Not entirely, but mostly. The bad news is so can a lot of other people.

Right? And so in this category, there always tends to be competition. And your competitive strategy, generally speaking, needs to be why against – like in this category, you should be expecting competition. Why am I going to win out sufficiently against this competition in a global arena? Yeah. I have invested in those businesses.

Right? And so in this category, there always tends to be competition. And your competitive strategy, generally speaking, needs to be why against – like in this category, you should be expecting competition. Why am I going to win out sufficiently against this competition in a global arena? Yeah. I have invested in those businesses.

Greylock invests in a bunch of those businesses because we're one of the best VCs at Enterprise and the planet, blah, blah, blah. Then the other kind of thing, which is the one I tend to start and the one I tend to most invest in is – People think that you're crazy when you're starting your business. And by the way, that can be a – by the way, and frequently you are, right? Yeah.

Greylock invests in a bunch of those businesses because we're one of the best VCs at Enterprise and the planet, blah, blah, blah. Then the other kind of thing, which is the one I tend to start and the one I tend to most invest in is – People think that you're crazy when you're starting your business. And by the way, that can be a – by the way, and frequently you are, right? Yeah.

But people think you're crazy, which means most people think you're crazy, which means your competitive field is a lot less, right? So, for example, I'll give LinkedIn – as an example, and I'll give Airbnb as an example.

But people think you're crazy, which means most people think you're crazy, which means your competitive field is a lot less, right? So, for example, I'll give LinkedIn – as an example, and I'll give Airbnb as an example.

So LinkedIn, I go and I say, hey, individuals will join this network and bring in their, and establish a public identity and profile and bring in their network and use that even as the vast majority of the billion people registered for LinkedIn are, you know, basically working companies, right? They're not starting companies. Like it's a great platform for entrepreneurs.

So LinkedIn, I go and I say, hey, individuals will join this network and bring in their, and establish a public identity and profile and bring in their network and use that even as the vast majority of the billion people registered for LinkedIn are, you know, basically working companies, right? They're not starting companies. Like it's a great platform for entrepreneurs.