Co Founder, CEO, Twitter discussed on Venture Stories
Take your personal experience in in arbitrage of personal experience. Okay go ahead Eric. If you wrote this today besides the every quicker would it be meaningfully? Different not really. I think I think some of the things have been sped up. Because you know you you. Can Incorporate online stripe is there? No Code is there. I'd probably advised not and and online services much more right because you can get pretty far that I might also say that you know and this is the third model. At which is you might serve the community. So there's idea there's executioners community right so you know nowadays on I've got a following on my twitter removes or what have you and the interaction of them is sort of like you know person community Fit Right. And then that community you can withdraw. A protocol can withdraw a product and so forth. And that's something. I was just less thinking about back in twenty thirteen today but that might be third angle on things you know to take a community. I approach and how about the Kobe requests for startups or anti replacement startups. This shea. Talking about I. What is this graph? This is the Telegraph of thousand days in the life of Thanksgiving Turkey. Life improves improves improves. And then a ridiculous sudden reversal. Okay and we're seeing Thanksgiving Day charts across the economy and where the rubber is orange. Okay and look at that ridiculous Thanksgiving giving day drop and breach by the way has risen dramatically right so uber is now essentially just breeds their second. Business has become their first. That's literally their business. Okay now the thing about this is a reversal business. Plan for you know like fortunately for over it. At least the corporation they can. Disengage drivers when demand plummets. Like those but But that's like a you know ridiculous. Drop right like seventy percent drop revenue. However here's the thing. Notice how we dropped but not breeds one of things. I was short on Uber. Benatti reads is pretty good. It's pretty specific prediction in terms of what to be long insured on. And frankly you know. I never talk about trades online because that's investing Advice River Bellizzi. That if you had reallocated full you listen to me around the time you would have done pretty well right so like for example. X Rays drones antivirals. Cat Scans Autonomy Diagnostics. Facemasks remote were Tele presence bioinformatics at that holds up. One of those were in drones. Me Put an asterisk on simply because there's such supply chain disruption demand me there have been not not the supply we'll have to see. You can make VR headsets in the US but everything else is clearly going especially like Mike. Remote workshops zoom and stuff and then on the short side of things. I think that holds up pretty well as well traveled tender grinder hotels AIRBNB airlines in person. You know blue cities come back it up. Real estate is crashing commercial real estate and blue cities restaurants conferences digital nomads. In the sense of moving around the world. You can't do that anymore. Remember Berates so I think that holds a pretty darn well right and I think that's like let's call it a part of the comp investing thesis if you remember this concept of the digital divide this is the thing in the late Ninety S O. Some people have access to Internet others. Don't right so April seventh. This concept which I think is one mental model. The fiscal divide bright digital is now cheap with billions of smartphones around the world. It's a physical. That's expensive case for last two years. We've made the cost of putting a bunch of transistors on a chip that that's now cheap but putting a bunch of people in rooms now expensive okay so the measure of a competent society is one that can actually hold a rally if you can do that you are. You're confident in the people. There are confident of the steam and the diagnostics. And so on that you know you can have this huge crowd that it's being tested to them into their life and they all come and congregate there right. I from incompetence state and for citizenry. That is not cooperatives. The Commons are attracting. And you can't basically there's a field state in between your house in the next person's House. You have to wear masks you you know you basically house a like like a place where you can't show your face you know. Maybe it's pollution meets infection. It's not the comments aren't actually traversable. So I think this is a powerful mental model for the next several years at least that physical is expensive and one thing that means by the way is digital now cheap physicals now expensive so everybody is GonNa want offer substitute for things because you know Sadler tweet. By the way that I was really surprised. People wild doubt about the I one more question for you which is a CO founders. Are we sort of in the picking co-founder similar to sort of dating before that you're limited to the people that you went to college with or worked with or is that for Co founder? Is that actually good? She's should you stick to that pool. How do you think what's your framework for picking the Right Co founder? Yeah know so so like the way I kind of think about this is having and being like an investor and having seen like lots of these things and whatnot so you should pick somebody who who's is complementary to you okay and there should always be clear. Ceo that's like the most important component the thing about that is like the question of WHO's the CEO. That's like one of the very first conversations you need to have and ideally. It's something where that's obvious between between you but if it's not a for example at the beginning of joint base itself public knowledge but you know Brian and the Guy who helped found blocking didn't so they had a screaming. Send you know what they were outright and basically blocks company and Mrs Good Company. That type of stuff shouldn't be resolved. There's also an ideological dispute watching to be able to have a wallet where they couldn't have the password password reset four the road actually very substantive. It's two different visions of the future. Both of which trinite illegitimate visions of Crypto? Right true product. Difference on on simple thing pastor reset so so that's that's like a good example of a few things. I who's the leader Second Woods A LONG-TERM IDEOLOGICAL VISION THIRD OUR SKILLS COMPLIMENTARY? I do not do these. Co-founder dating sites or whatever. Kids these days you know like I don't know I don't know if that works. I feel some could work but it feels inorganic. Maybe you know I think the best thing to do is to actually work on a project with that person and find that there's an actual division of labor nothing substitutes for that because working with somebody is just very very different from talking to them on. It's like they have to cash the past when you throw it into it. What you meant not necessarily what you said. Lots and lots of little things like that have to tolerate your using 'cause nobody's ever heard strong and every dimension or some people are few and so I think actually doing and shipping project. Ideally one involves money and customer support with them like is is probably the best bet naked or something like that but try to push it all the way through such that book that you have legal liability together or or customers yelling you. That's real trial by fire. Balji thank you so much for coming on give a digital rotten for her volatility. If you're an early stage entrepreneur we'd love to hear from you check us out. 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