Key insights

• Investing in Hard Tech and Novelty

  • 🔬 Investing in hard tech companies and getting excited about innovative ideas
  • 💼 Evaluating founder determination and commitment to the startup
  • 🆕 Seeking novelty in investments and unlearning past knowledge and experiences
  • ❓ Contradictory advice on learning from past mistakes and ignoring the past to succeed as an investor

• Fast-Moving Startups and Clear Communication

  • ⏩ Invest in startups that move fast and iterate quickly
  • 🗨️ Clear, concise communication is crucial for funding decisions
  • 🚫 Avoid over-learning from past mistakes in investments

• Attracting Talent and Product Demand

  • ⏩ Move fast is critical for startups
  • 🌟 Attract top talent to succeed
  • 🛍️ Create products that people want
  • 💪 Evaluate founders' determination and commitment
  • 🎯 Look for founders who have made mistakes and are not afraid of failure
  • 🧬 Evaluate market demand and product feasibility for bio companies

• Deliberate Investing and Future Value

  • 💡 Investing requires being deliberate and avoiding decisions based on price or emotions
  • 📈 Focus on optimistic future value creation, rather than just impressive numbers

• Investing in Bold Ideas and Behavior

  • 🔮 Invest in founders who pursue seemingly impossible ideas, even if they lack expertise
  • 🌟 Don't dismiss non-software startups and have faith in the vision of ambitious founders
  • ⚖️ Avoid poor investor behavior and prioritize commitment to potential investments

• Importance of Team and Innovation

  • 👥 Importance of having a great team for a startup like FriendFeed
  • 🥊 Facing strong competition from companies like Facebook
  • 🔍 Seeking founders who are better than the investor
  • 💰 Valuing frugal and resourceful startups like Meraki
  • 🚀 Significance of solving business challenges innovatively

• Journey and Key Investments

  • 🌐 Joined Google due to excitement about Linux clusters
  • 💸 Made first angel investment in a YC company after finding Y Combinator intriguing
  • 📈 Invested in Justin.tv, which later pivoted to become Twitch and achieved great success
  • 🏆 Successful outcomes despite initial skepticism and challenges

• Investing as Art and Learning Process

  • 🎨 Investing is more of an art than a science
  • 📚 Involves learning from favorable and unfavorable outcomes
  • 🍀 Luck plays a significant role in successful investments
  • 💡 Identifying opportunities that may look bad but have potential is crucial

Q&A

• What insights are provided for investing in hard tech companies and learning from past experiences?

  Investing in hard tech companies, evaluating founder determination, seeking novelty in investments, and the contradictory advice on learning from past experiences while unlearning them to succeed as an investor are highlighted.

• What's the advice on decision-making and progress assessment in startup investments?

  The speaker advises investing in startups that move fast, iterate quickly, and have clear, concise communication. They stress the importance of focusing on companies' progress rather than overanalyzing opportunities.

• What are some key considerations when evaluating startup opportunities?

  Investors look for quick, ambitious, or seemingly absurd ideas, determine their level of commitment, and focus on attracting top talent and creating products people want. Evaluating founders' determination, market demand, and product feasibility are emphasized.

• How should investors approach decision-making in startup investments?

  Investing in startups requires being deliberate, avoiding decisions based on price or emotions, and focusing on optimistic future value creation, rather than just impressive numbers. Traits of a great founder, such as clear communication and depth of understanding, are also highlighted.

• What's the speaker's advice on investing in founders and startup ideas?

  The speaker advises investing in founders who pursue seemingly impossible ideas, regardless of expertise, not dismissing non-software startups, and having faith in the vision of ambitious founders. They also stress the importance of avoiding poor investor behavior and prioritizing potential investments over other commitments.

• What are the important factors highlighted for investing in startups?

  Importance of having a great team, facing strong competition, seeking founders who are better than the investor, valuing frugal and resourceful startups, and the significance of solving business challenges innovatively.

• What are some key insights from the speaker's journey at Google and Y Combinator?

  The speaker joined Google due to excitement about Linux clusters, found Y Combinator intriguing, made their first angel investment in a YC company, invested in Justin.tv (which later became Twitch), and witnessed successful outcomes despite initial skepticism and challenges.

• Is investing in startups more of an art or a science?

  Investing in startups is described as more of an art than a science. It involves learning from both favorable and unfavorable outcomes, and luck plays a significant role in successful investments. Identifying opportunities that may look bad but have potential is crucial.

• 00:00 Meeting founders and making decisions in investing is more of an art than a science. The process involves learning from both favorable and unfavorable outcomes. Luck plays a significant role in successful investments. Identifying opportunities that may look bad but have potential is crucial.
• 07:40 The speaker recounts their journey from Google to Y Combinator, highlighting key investments and successful outcomes despite initial skepticism.
• 14:42 The importance of having a great team, facing strong competition from companies like Facebook, seeking founders who are better than the investor, valuing frugal and resourceful startups, and the significance of solving business challenges innovatively.
• 21:44 Invest in founders who pursue seemingly impossible ideas, even if they lack expertise. Don't dismiss non-software startups and have faith in the vision of ambitious founders. Also, don't miss out on great opportunities due to poor investor behavior or prioritizing other commitments over potential investments.
• 28:23 Investing in startups requires being deliberate, avoiding decisions based on price or emotions, and focusing on optimistic future value creation, rather than just impressive numbers.
• 35:17 Investors look for quick, ambitious, or seemingly absurd ideas, determine your level of commitment, and focus on attracting top talent and creating products people want.
• 42:27 Investing in startups requires moving fast, clear communication, and avoiding over-learning from past mistakes. It's essential to focus on companies' progress, iterate quickly, and not overanalyze good opportunities.
• 50:33 Investing in hard tech companies, evaluating founder determination, and seeking novelty in investments. Contradictory advice on learning from past experiences while ignoring them to be a successful investor.