Reid Hoffman

It was one of two technology companies that went public that year.

It was one of two technology companies that went public that year.

Right? So all of a sudden – and then it got bought by eBay. So all of a sudden you had this talent group of people that had a bunch of money in their pockets and the network within – and that believed in the consumer internet – So the network of Silicon Valley at that point had thought the consumer in it was played. They were going into clean tech and to enterprise.

Right? So all of a sudden – and then it got bought by eBay. So all of a sudden you had this talent group of people that had a bunch of money in their pockets and the network within – and that believed in the consumer internet – So the network of Silicon Valley at that point had thought the consumer in it was played. They were going into clean tech and to enterprise.

So if you ask, if you try to ping a venture capitalist, I have a new consumer in it idea, they wouldn't even take a meeting with you. They would take a meeting if it was clean tech and they'd take a meeting if it was enterprise software, right? Now, then you get all the PayPal people coming out going, hey, I can fund my own initial idea. I've got this great idea. YouTube. LinkedIn.

So if you ask, if you try to ping a venture capitalist, I have a new consumer in it idea, they wouldn't even take a meeting with you. They would take a meeting if it was clean tech and they'd take a meeting if it was enterprise software, right? Now, then you get all the PayPal people coming out going, hey, I can fund my own initial idea. I've got this great idea. YouTube. LinkedIn.

And I can fund it and I can get it going. And then – and this is part of the Web 2.0 movement. I coined the term Internet 2.0 and then Tim O'Reilly made the much better term Web 2.0. Right? And so – These folks going, no, no, the consumer internet is – like that was just the first wave on the beach. The tsunami is still coming, right?

And I can fund it and I can get it going. And then – and this is part of the Web 2.0 movement. I coined the term Internet 2.0 and then Tim O'Reilly made the much better term Web 2.0. Right? And so – These folks going, no, no, the consumer internet is – like that was just the first wave on the beach. The tsunami is still coming, right?

And so we were all out investing and we were talking to each other because, frankly, we're like, well, these VCs don't get it. Like this is coming. And then, of course, you started seeing YouTube and you started seeing LinkedIn and you started seeing – and it was like, OK – Like we will – like these are important things that we're going to invest in.

And so we were all out investing and we were talking to each other because, frankly, we're like, well, these VCs don't get it. Like this is coming. And then, of course, you started seeing YouTube and you started seeing LinkedIn and you started seeing – and it was like, OK – Like we will – like these are important things that we're going to invest in.

And that's part of the reason why the – that's the – because by the way, remember, you know, bad competition, right, is one of the reasons why not just talent, not just capital, but also competitive steering is part of the reason why the PayPal network or the PayPal mafia had such a massive suite of success.

And that's part of the reason why the – that's the – because by the way, remember, you know, bad competition, right, is one of the reasons why not just talent, not just capital, but also competitive steering is part of the reason why the PayPal network or the PayPal mafia had such a massive suite of success.

And just from hearing you today, sales is so like... Whatever your go-to market is, and it can be sales, B2B, enterprise, et cetera. But like, for example, in... In social networks, it's usually a viral marketing or viral growth plan.

And just from hearing you today, sales is so like... Whatever your go-to market is, and it can be sales, B2B, enterprise, et cetera. But like, for example, in... In social networks, it's usually a viral marketing or viral growth plan.

Yes. You must. You said like partners, investors. Yes. Because you have to come on board my vision. Invest in my vision. Because by the way, a partner, when you're a startup, is also investing in your vision.

Yes. You must. You said like partners, investors. Yes. Because you have to come on board my vision. Invest in my vision. Because by the way, a partner, when you're a startup, is also investing in your vision.

An employee is investing in your vision.

An employee is investing in your vision.

There's a limited set of skills that you can actually teach to entrepreneurs versus the entrepreneurs just learning by doing. One of them is pitching, right? One of them is understanding the how do I communicate my vision in a way that other people can go, that's really exciting. I want to join your vision with you.

There's a limited set of skills that you can actually teach to entrepreneurs versus the entrepreneurs just learning by doing. One of them is pitching, right? One of them is understanding the how do I communicate my vision in a way that other people can go, that's really exciting. I want to join your vision with you.