ZAC, Telluride, Durango discussed on This Week in Startups


Calming stabilizing force in our industry. Because our industry is so chaotic. Already that when you know you're going to have crazy. Moments come up and be acting historical or getting freaked out or adding gasoline to a fire is not the job of the vc. Vc's job is to come in and be a fixer and you want to be Fix problems not caused problems. We've both been in situations ac where our peers are causing chaos. And now you're trying to solve a business problem and solve a bad. Vc problem girdle. I mean i've had people on boards just causing all kinds of problems. I much prefer a neutral investor who doesn't provide any downside. And you know maybe there's light upside but the check cashed. That is wonderful to just have somebody who put money in and was not a distraction and was just patient capital. If you're patient capital you're beating out like a third of the market which is the at knowing capital. I'd say i'm full. One third of the market is annoying capital. We see at least. Maybe it's half so it's probably like twenty five percent of vc's are actually really helpful. Twenty five percent or kind of neutral. They don't harm the business. They might not be super helpful Hurting and then there's half that are just causing chaos bad advice. Or what is the advice that we give now zac that we learned ten or twenty years ago. that's valid. how much is valid. You know like half and who knows like i. I think sometimes people would be better off asking questions than giving advice. I found myself. I just ask questions soon. What's the problem. What's your plan to solve the problem. How confident are you in that plan. Are there things that you're worried about with your plan. Is there anything. I can help with that plan. And did you think about these things. Because i just read your plan. I mean. that's literally the approach i've been taking. That's not the approach date. When i'm running my company when i have to be the leader but when i'm on the board i just want to ask probing questions and have a positive dialogue. That's taking me a real change. In my personality you know from being a leader to being an inquisitive person who is a coach that you have to adjust from being a ceo to being like an investor in asking questions versus like being you know a general. Yeah absolutely. i mean you're as soon as you become an investor. You are no longer in charge of anything. The only thing you're in charge of his whether or not you write the check but before that you're in charge of nothing like your ability to write the check you're not in charge of that and you make the decision and then you hope you actually get to write it and then after you've written it you're in charge of nothing. It's so true trove literally are passenger. You know or your. Maybe you're down in the tower like an air traffic control. But you're not in the cockpit in lesser invited into the cockpit and you may be invited to the cockpit for five minutes but they don't watch the whole ride. I didn't then like the invite me into the cockpit that the pilot is flying the plane and the last thing we need. Is somebody talking to their ear. The only thing i'm gonna do the pilot turns around and ask me a question and they're like hey what about this. I'll be like well. Here's i think but you're the pilot and You're the one who can feel the controls. You can feel the engines. You can you. You your your. You've got your hands on the medal. And i'm just back here. You know and they might say he's act. You've landed in this airport before. I've never landed in telluride. Oh yeah what's coming up here. This is a slow runway. There's cross wins and it's a shirt runway. And here's how i approached it. I'm hoping that helps you. Please don't flip the fucking plane on or let me help you get talked to some people who've done it before who are real pros like yup. Here's some let's let's think about how we bring in professionals into the problem but yeah yeah and if we can't make it to that airport by the way here are two other airports. We might be. I don't know if you ever been to durango but you had to land there. One time she can kind of give them some some help and be a guide on the side but you are not At the controls from aaron is it worth working as a product manager for a startup before becoming a first time founders. Ac absolutely. I mean look this. This is a business about getting exposure to grouts and the earlier like that famous. Line that Cheryl was was was given when she was thinking about whether or not she should join facebook. And i i think it was Bill campbell basically said if someone offers you a seat on a rocketship. Don't ask your seat is just get on and if you can get on any sort of growing business you're gonna learn so much and at some point the the learning will decrease and then you can either decide to jump into another one or you can start your own thing but let me tell you the brutality of starting a business is is unbelievably hard and if you can learn that on somebody else's dime at somebody else's like guidelines apprenticeship highly recommended at one think about the credibility you have oh. I was at facebook during this period of time i each moth trump was a nobody in the industry via worked at. What may feel like then before that he was at. Aol doing icy cure. And the working. Before that dave samuel on spinner or whatever that was like he literally had a meandering career to his own admission and then this rocket ship shows up and he gets on the rocket ship and he grows it from four million to four hundred million. You can never take that away from timothy. He watched that happen and he hired the team. That was responsible for growth so to your point. If you can get on a rocket ship you can. Experience growth. Franck manager is one of those brilliant positions where you are at the locus of power and decision. Making you have to deal with engineers. You have to deal with designers. You have to deal with whoever. The stakeholders are the ceo founder..

Coming up next