Key insights

• 🏢 Facebook became a formal Delaware company when Peter Thiel invested
• 🎓 Founders initially planned to go back to school, Peter Thiel doubted their commitment to returning to school
• 📚 Took leave from school due to workload
• 💡 Received advice from Peter about taking risks in a changing world
• ⚡ Importance of taking risks
• 🌟 Taking risks is necessary for progress and success
• 💼 Hiring the right people is crucial for company success
• 🎯 Assessment of talent is based on indicators other than experience

Q&A

• How do employees in the company grow and create opportunities?

  Employees in the company grow to run product groups, creating opportunities for growth, retaining top talent, and attracting new talent to the company. They started in various roles and have taken on leadership positions over time.

• What does the company value alongside its employees' experience?

  The company values growth alongside its employees, recognizing that experience comes in different forms and emphasizes the opportunity for growth within the company.

• What is the company's approach to assessing talent when hiring?

  Experience is not the main factor in hiring decisions. The company invests in talented individuals, regardless of their experience, and assesses talent based on various indicators.

• What is emphasized about hiring the right people?

  Hiring the right people is crucial for company success, and the speaker advises on the significance of mastering the skill of hiring the right talent.

• Why is taking risks emphasized in the video?

  Taking risks is necessary for progress and success, while not taking risks guarantees failure in a changing world.

• What advice did the speaker receive from Peter?

  The speaker received advice from Peter about taking risks in a changing world and the importance of making necessary changes.

• Why did Peter Thiel have doubts about the founders' commitment to returning to school?

  Peter Thiel doubted their commitment due to their dedication to the company and the workload they faced.

• What was the founders' initial plan before Peter Thiel's investment?

  The founders initially planned to return to school.

• When was Facebook formalized as a company?

  Facebook became a formal Delaware company when Peter Thiel invested.

• 00:00 Facebook was formalized as a company when Peter Thiel invested, despite the founders' initial plan to return to school. Peter Thiel had doubts about the founders' commitment to going back to school.
• 00:48 The speaker discusses taking a leave from school, getting advice from Peter, and the importance of taking risks in a changing world.
• 01:38 Taking risks is essential for success. Emphasizing the importance of taking risks and making necessary changes. Hiring the right people is crucial for a company's success.
• 02:26 Experience is not the only criterion for hiring according to the company's founder. They focus on talent and potential, even if the candidate lacks experience. Assessing talent is based on various indicators.
• 03:18 Opportunity is key, experience comes in various forms, and the company values growth alongside its employees.
• 03:59 Employees in the company have grown to run product groups, creating opportunities and retaining top talent.