Spencer Rascoff

I was the captain of our chess team that won middle school championships and we're basically the best middle school chess team in the country. Basically, every weekend I was playing chess tournaments around the country. And... You learn a lot from chess as a kid.

I was the captain of our chess team that won middle school championships and we're basically the best middle school chess team in the country. Basically, every weekend I was playing chess tournaments around the country. And... You learn a lot from chess as a kid.

You learn about the importance of hard work and preparation, of concentration, of just mental focus and mental agility, and ultimately the importance of hard work. So that was my sport, if you will. We can debate whether chess is a sport or not, but to me at the time, it was a sport and I treated it as such. And then through high school and then beyond, I've always been hardworking.

You learn about the importance of hard work and preparation, of concentration, of just mental focus and mental agility, and ultimately the importance of hard work. So that was my sport, if you will. We can debate whether chess is a sport or not, but to me at the time, it was a sport and I treated it as such. And then through high school and then beyond, I've always been hardworking.

I'm not sure if I got that from my parents or just from intrinsic motivation, but that's always been a personality trait.

I'm not sure if I got that from my parents or just from intrinsic motivation, but that's always been a personality trait.

Yes, that's my thing. My main high school activities were I gave up chess by high school and I was what was called first prefect, which was basically the president of the school and editor in chief of the high school paper. And high school journalism was also a very formative experience for me. I learned a lot.

Yes, that's my thing. My main high school activities were I gave up chess by high school and I was what was called first prefect, which was basically the president of the school and editor in chief of the high school paper. And high school journalism was also a very formative experience for me. I learned a lot.

about management, leadership, journalism, attention to detail, time management, working under pressure. These are all things that you learn when you're running what is basically a professional level newspaper, which my high school paper was.

about management, leadership, journalism, attention to detail, time management, working under pressure. These are all things that you learn when you're running what is basically a professional level newspaper, which my high school paper was.

I wasn't really sure. I worked so hard in high school that when I got to college, I needed to exhale for a moment. So I don't think I was that focused. I did not know what I was going to do after graduating from college when I started college. But I went into investment banking because I wasn't really sure what else to do.

I wasn't really sure. I worked so hard in high school that when I got to college, I needed to exhale for a moment. So I don't think I was that focused. I did not know what I was going to do after graduating from college when I started college. But I went into investment banking because I wasn't really sure what else to do.

And that was a pretty common path back then in the late 90s coming out of my college. And so I started my career at Goldman Sachs. I found that I learned a lot in investment banking, but I wasn't totally satisfied. I wanted to do something a little bit more entrepreneurial and closer to the business operations of companies.

And that was a pretty common path back then in the late 90s coming out of my college. And so I started my career at Goldman Sachs. I found that I learned a lot in investment banking, but I wasn't totally satisfied. I wanted to do something a little bit more entrepreneurial and closer to the business operations of companies.

And so I left investment banking after my two-year commitment was complete. I moved to San Francisco. I worked in private equity, which of course buys and sells larger companies. And I enjoyed that. I liked being closer to business operations, but I wanted to be in a smaller, more entrepreneurial environment. And that's how I found my way into startups.

And so I left investment banking after my two-year commitment was complete. I moved to San Francisco. I worked in private equity, which of course buys and sells larger companies. And I enjoyed that. I liked being closer to business operations, but I wanted to be in a smaller, more entrepreneurial environment. And that's how I found my way into startups.

I was at TPG, Texas Pacific Group, in the late 90s. And TPG was, back then, one of the largest buyout firms, and they still are today. TPG got its start by buying a couple of airlines. They bought America West Airlines out of bankruptcy. They bought Continental Airlines out of bankruptcy. And they sold part of their Continental stake to Northwest.

I was at TPG, Texas Pacific Group, in the late 90s. And TPG was, back then, one of the largest buyout firms, and they still are today. TPG got its start by buying a couple of airlines. They bought America West Airlines out of bankruptcy. They bought Continental Airlines out of bankruptcy. And they sold part of their Continental stake to Northwest.

So by the time I got to TPG, they basically controlled three US airlines and one European airline. And so we set about at TPG thinking through, ways that we could leverage our airline relationships and airline ownership to create an online travel company. And so I helped incubate the idea that it would become Hotwire. And then once it was more than just an idea, once it became

So by the time I got to TPG, they basically controlled three US airlines and one European airline. And so we set about at TPG thinking through, ways that we could leverage our airline relationships and airline ownership to create an online travel company. And so I helped incubate the idea that it would become Hotwire. And then once it was more than just an idea, once it became