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Sam Parr

๐Ÿ‘ค Speaker
8897 total appearances

Appearances Over Time

Podcast Appearances

My First Million
Bill Gurley: 6 Out of 10 People Are Making This Mistake

We took that to Wharton People Analytics to do the official academic version.

My First Million
Bill Gurley: 6 Out of 10 People Are Making This Mistake

So you make sure you get all the statistical data correct.

My First Million
Bill Gurley: 6 Out of 10 People Are Making This Mistake

And their number came back six out of 10.

My First Million
Bill Gurley: 6 Out of 10 People Are Making This Mistake

So still a really big number.

My First Million
Bill Gurley: 6 Out of 10 People Are Making This Mistake

Crazy.

My First Million
Bill Gurley: 6 Out of 10 People Are Making This Mistake

There's a great book by Daniel Pink called The Power of Regrets.

My First Million
Bill Gurley: 6 Out of 10 People Are Making This Mistake

And he has a somewhat similar survey data of longitudinal through people's lives.

My First Million
Bill Gurley: 6 Out of 10 People Are Making This Mistake

And as you get older...

My First Million
Bill Gurley: 6 Out of 10 People Are Making This Mistake

your regrets of inaction start to really weigh on you and ruminate in your brain.

My First Million
Bill Gurley: 6 Out of 10 People Are Making This Mistake

And a regret of inaction is actively not doing something versus a regret of action is I made a mistake.

My First Million
Bill Gurley: 6 Out of 10 People Are Making This Mistake

And humans are really good at allowing themselves to make a mistake, but the path I never traveled, the door I never opened is heavier in their mind.

My First Million
Bill Gurley: 6 Out of 10 People Are Making This Mistake

And the survey might've been getting at that, like people thinking, wow, what if I had done something differently?

My First Million
Bill Gurley: 6 Out of 10 People Are Making This Mistake

when you left compact and then eventually got into vc which i imagine that would be your calling that you still questioned it after the engineering degree i went to wall street for three years so i you were like in research i was in a cell site research analyst yeah so i had two stops before i made it to to venture and um

My First Million
Bill Gurley: 6 Out of 10 People Are Making This Mistake

In both cases, I had a moment of reflection, and it's more clear to me now than it was then, but where I ask, do I see myself doing this 30 years from now?

My First Million
Bill Gurley: 6 Out of 10 People Are Making This Mistake

And in many businesses, there's a lifer in the room that's done it their whole life.

My First Million
Bill Gurley: 6 Out of 10 People Are Making This Mistake

And that sounds a little judgmental.

My First Million
Bill Gurley: 6 Out of 10 People Are Making This Mistake

I don't mean it to be.

My First Million
Bill Gurley: 6 Out of 10 People Are Making This Mistake

But it gives you a way to reflect on whether that's the place you want to be in because they did it.

My First Million
Bill Gurley: 6 Out of 10 People Are Making This Mistake

And in both cases, after about two or three years, I got to a no, even though I was doing well in those jobs.

My First Million
Bill Gurley: 6 Out of 10 People Are Making This Mistake

But thinking, do I want to still be doing this 30 years from now was clarifying for me.