https://www.youtube.com/watch?v=54NIcx3HJSE
Thiel
- Yahoo wanted to buy Facebook in 2006 for 1B, Zuckerberg said NO, Thiel said MAYBE
- Founder CEO vs Professional CEO
- Mark Zuckerberg did not want to sell because he didn't know what to do with ~250million - 'start another social network?! I am happy with what I have'
- Some of the new features being developed were not valued properly
- Why not invested in Tesla?
- We had a bias toward cleantech in 2005-2008
- Valuation were inflated and people were very crazy, a lot of insanity around it at the time
- Tesla is one company that worked
- Investing in founders, ideas, business strategy - package deal
- I like companies that are extremely mission driven
- Personalities (founders) are very extreme
- There is misprice on these people
- 'I cant wait for him to fail'
- they are portrayed more evil then they are
- Are we in a private tech bubble?
- Valuations are high
- We are not near 1999-2000 levels
- If there is bubble it is not in tech
- If public involved then it is a bubble
- Uber - the most ethically challenged company in SV
- how much and how far you push the envelope
- how much you break the law
- Napster pushed too far
- Uber is a little bit corrupt
- High compensation in startups - red flag
- General investor question - Fundamental and contrarian?
- It is always bad to be a 'me too' company
- FB wanted to buy Twitter for 0.7B
- Investors sometimes do not process how much passion from Founders drives companies and you cannot trade that
- There was a cleantech bubble
- 11 of unicorns
- Why the investment worked?
- Founders talk about of INEVITABILITY of success of the company since Day 1
- No conditionality, only Future Simple Tense
- Gender discrimination
- Companies are run by white guys
- We should start educating women since early age
- Guy are taught since early age how to bluff, pitch, and sell
- Linguistic barrier - we end sentence on upbeat in Silicon Valley which implies 'are you with me?'
- 'Can a good man become a great man' - bullshit question
- It is going to take decade to unravel this
- Lyft goes away
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