35 Burst results for "Twenty Minute"
Kansas races past Miami in 2nd half, reaches 16th Final Four
"The Kansas Jayhawks advance to the final four by winning the Midwest regional seventy six fifty over Miami trailing by six at halftime Kansas opened the second half with a twenty five to seven run it over the final twenty minutes the run extended to forty seven fifteen Remi Martin came off the bench to score nine points and was named the tournament's most outstanding player my teammates and then is is is really my teammates and coaches man just sticking with me due to ups and downs and you know just instilling more confidence in me so far in the NC double A.'s the J. hawks have defeated Texas southern Creighton Providence and now Miami and for Kansas this will be the school sixteen final four appearance and for coach bill self his fourth appearance David Shuster Chicago
Top-seeded Gonzaga rallies in 2nd half to beat Memphis 82-78
"Gonzaga made it seven consecutive trips to the Sweet Sixteen but it wasn't easy the west top seed Bulldogs overcame a twelve point second half deficit to defeat number nine Memphis seventy two sixty eight Gonzaga forward drew Timmy was game high with twenty five when his team was down by ten at the break he had a special message for his mates no matter what happens no matter what the score is win or lose this could be very well be the last twenty minutes about so you don't reply and go out with no regrets the zags next face Arkansas in the east fourth seed UCLA is returning to the Sweet Sixteen thirteen no first half run gave the ruins the lead for good and a seventy two fifty six victory over number five St Mary's next up for the Bruins red hot North Carolina I'm Bruce Morton
Penguins pull away in third for 5-2 win over Golden Knights
"Mark Friedman's first goal in ten months broke open a tie game early in the third period of the penguins five to win over the golden knights always always cards get five minutes past the weather and what made a hell of a way to take it with the skates and I just jumped up and saw many many great awesome I was very relieved to see Bryan rust added his twentieth goal of the season with about five minutes remaining a power play tally that made it for two Rustin Jeff Carter each had a goal and an assist to support Kristen Jerry who turned back forty shots biggest entered the final twenty minutes tied to two despite outshooting the penguins twenty to seven in the second period Pittsburgh hopped over the Rangers for second place in the metropolitan division six points behind Carolina I'm the ferry
All-Star Talbot makes 30 saves, Wild beat Blackhawks 5-0
"Can't can't can't can't tell tell tell tell that that that that stopped stopped stopped stopped all all all all thirty thirty thirty thirty shots shots shots shots against against against against him him him him as as as as the the the the wild wild wild wild black black black black the the the the black black black black box box box box five five five five nothing nothing nothing nothing for for for for tell tell tell tell but but but but it it it it was was was was his his his his first first first first shutout shutout shutout shutout this this this this season season season season at at at at twenty twenty twenty twenty fifth fifth fifth fifth of of of of his his his his career career career career following following following following a a a a scoreless scoreless scoreless scoreless first first first first period period period period Minnesota Minnesota Minnesota Minnesota scored scored scored scored three three three three times times times times in in in in the the the the second second second second twenty twenty twenty twenty minutes minutes minutes minutes and and and and then then then then topped topped topped topped off off off off with with with with two two two two more more more more tallies tallies tallies tallies in in in in the the the the third third third third period period period period Kevin Kevin Kevin Kevin Fiala Fiala Fiala Fiala mats mats mats mats Zuccarello Zuccarello Zuccarello Zuccarello and and and and Frederick Frederick Frederick Frederick Drau Drau Drau Drau all all all all had had had had a a a a goal goal goal goal and and and and an an an an assist assist assist assist the the the the wild wild wild wild have have have have won won won won their their their their last last last last six six six six games games games games and and and and nine nine nine nine of of of of their their their their last last last last ten ten ten ten while while while while the the the the Blackhawks Blackhawks Blackhawks Blackhawks have have have have dropped dropped dropped dropped three three three three in in in in a a a a row row row row and and and and seven seven seven seven of of of of their their their their last last last last date date date date David David David David Shuster Shuster Shuster Shuster Chicago Chicago Chicago Chicago
No. 19 Tennessee hands No. 6 Arizona first loss 77-73
"Nineteenth nineteenth ranked ranked Tennessee Tennessee rode rode a a strong strong start start to to a a seventy seventy seven seven seventy seventy three three win win over over number number six six Arizona Arizona the the Wildcats Wildcats first first loss loss of of the the season season Tennessee Tennessee had had seven seven of of its its first first eleven eleven shots shots and and opened opened the the game game with with the the sixteen sixteen to to advantage advantage in in the the first first five five minutes minutes John John Fulkerson Fulkerson scored scored twenty twenty four four points points and and had had ten ten rebounds rebounds I I would would let let you you know know to to see see that that full full game game every every day day that's that's just just I I guess guess that's that's just just how how the the game game goes goes and and you you know know you you try try to to bring bring it it every every day day every every practice practice every every game game Santiago Santiago the the Scully Scully had had fifteen fifteen for for the the ninety ninety two two vols vols Benedict Benedict matter matter and and had had fourteen fourteen of of his his twenty twenty eight eight points points in in the the first first half half he he was was the the only only Arizona Arizona starter starter to to score score in in the the first first twenty twenty minutes minutes as as Tennessee Tennessee took took a a thirty thirty four four twenty twenty one one lead lead the the Wildcats Wildcats are are eleven eleven and and one one I'm I'm Dave Dave Ferrie Ferrie
Dow slammed by 1,000 points in worst drop of 2021 on fears about new Covid variant
"Stocks tank this morning as a new highly transmissible corona virus variant from South Africa seem to be spreading across the globe the Dow dropped about nine hundred points in the first twenty minutes of trading the S. and he appeared to be headed toward its worst day since September down one point seven percent the nasdaq dropped one point one percent soon after the open companies felt the economic impact fast flights between South Africa and Europe were subject to
Booker scores 35, Suns win 14th straight, beat Cavs 120-115
"The sons of stretch their winning streak to fourteen games is Devin Booker and Chris Paul carried them to a one twenty one fifteen victory at Cleveland Booker finished with thirty five points and Paul hit four free throws over the final eight point eight seconds to help Phoenix keep the winning streak alive Paul finished with seventeen points and twelve assists we try not to get too high try not to get too low and we control we control and we we talk about everything you know what I like no I no guessing you know how this guy feels and it's it's nice to be with a group like you they'll McGee added thirteen points and twelve rebounds in twenty minutes off the bench the Cavaliers dropped their fifth in a row despite Jared Allen's twenty five points and eleven rebounds I'm Dave Ferrie
Young, Williams, No. 3 Alabama romp over New Mexico St 59-3
"Bryce young had another productive yet truncated afternoon is C. if P. number two Alabama storm passed to Mexico state fifty nine three young was twenty one of twenty three for two hundred seventy yards and five touchdowns three to James and Williams as we keep getting reps and keep improving keep growing you know we're we're both kind of push each other challenge each other to be to be better and our best versions of ourselves the Crimson Tide actually trail before young hit Williams for a fifty yard scoring strike the ninety one tide reeled off seven touchdowns in about twenty minutes for a forty nine three halftime lead allowing young to take a seat early in the third quarter Brian Roberts who played just the first half and still finished with ninety nine yards and two touchdowns I'm Dave Ferrie
"twenty minute" Discussed on The Twenty Minute VC
"I think whether there's a good business or not he called. It was a good business and he looked at the team and us it. The team saw he was the first to put an. He messaged his own money. Shakoor came late. Okay so and then we did a good job. And he followed up. Reducing les wilson. Everybody else followed and actually we did three rounds this year but two years ago we did another also lost two years with forearms and each time. We do it wrong. You know we give to some rumours that we wanna hit in the near future. We almost always hit goes learners than we did better than what we get. So this is quite rare actually starbucks giving numbers to get the money and we saw with different okay so that creates a lot of trust in us. Oh we are the guys who say something and do it. Does it make. I'm an older guy for the start up scene. I'm fifty nine. This is quite. I came into this industry at age. Fifty it's like. You're trying to learn to play the violin at age fifty. Okay and learn it and play it so entrepreneurs i've met anyone who came into the office usually much younger than that and you know it work song. That's why we're talking and expediency has he's been rounding the in this for so long. Some of the experiences shared is very valuable. Because i don't need to go to the same experience and just leave it myself. It's it's nice to learn from others experiences. And i'll seize any mestre. I also course Now can i was the hottest adamant of your with gas. Hits eyeing good people as fast as i would like. We don't grow just open up an office with five people. Listen that in our business is anti and and then you know once we go to a city we hire a lot of people and hire the right people if you haven't people you don't have a good business. You can't have the good food with bad ingredients good companies. They have to have good people and of course with people. You always have a chance of making steak so if you do least amount of mistakes and if you seen you're mistaken corrective fast so that's the thing when you look at the next five ten years just how baking get it be. I won't answer that. I don't put a ceiling to myself. We'll see where it goes. It's gonna be exciting and that's why what the enjoyable it's we'll see. Do you know. I've ain't you deserve a medal for putting up with my prying questions. Honestly i really appreciate it. I really appreciate the patience with the prime questions to even fantastic. Thank you so much for day. Miss thank you. thanks for your time to can. I mean. I just love that discussion. That was the question of just how deeply and asking about the mattress but it was so much fun and team was so patient with me. That as always i serb reshaped ios port listening to the show. If you'd like to see more from us you can on the twenty minute. Vc dot com. How the before we leave each day. Did you know that more than eighty percent of. Us public stories owned by just ten percent of americans. This divide is.
"twenty minute" Discussed on The Twenty Minute VC
"You have now arrived at your destination nothing. This is such a joy to do this for such a long time. It thank you so much for joining me. Stay thanks for having me. Not to as had been wanting to see this for a long time but i want to start with a little bit of context. As we've seen this meteorologist guests over the last eighteen months internationally but it's actually six zero companies. Take us back. What was the founding. A fee with six years ago. I was at the time. The founded offbeat. Taxis taxi hailing of turkey and i was looking at the screen of be toxic and at that moment i show. We weren't able to give taxis average of thirty minutes. That wasn't a kpi. We were really pushing hard to catch and right at that. Moment is okay. We got this right. What next and i said Taxis one need people that many other needs. Why don't bring them everyday necessities. And at the time a couple of hundred items now we carry fifteen hundred look thought came to me like a couple hundred and put them in advance and said awarding the taxi. I can show those couple under night thames and as you get connected to the ran van king. Start moving to you. That was the idea okay. Of course we changed the When we start to get to bring in ten minutes. The idea was taxes in three minutes. Everything else in yeah. That was the idea. I talked about this to a few friends. Who could both fund me and some of them joining me as grow founders and here we are sixers later. This is one of the hot topics in the tech in the today and we are the first company in the world to come up with the idea six years ago. I'm proud to say that now more than meets yard is. It's been as we sat and i do want to stop by breaking down the business into its component pas and we're going to start with supply and study wants supply as we said one of the folks really pioneer. Especially we'll say the vertically integrated supply. Side i i why is not such a superior model Gration really allows. The models dined hatay. These questions are like intense questions so like i mansa some of it and i may choose not to answer some of those because at the moment has more than twenty different companies. Cloning us an everyday we see some more adding to it. And i'm sure some of them. Listen to this podcast. Once it's i don't wanna give them an easier ride to intricacies of business. Of course they will get a taste of our doing it. If they don't know but i may not answer some of your questions into detail so excuse me on. That is not that. I don't know the answer i choose not to. Okay sure so you may have other questions because the second question is really getting to the core of the business shaw the beauty of cam minutes. Li- lies in controlling everything. Okay if you depend on third party. Ten minutes doesn't happen if you go pick up stuff from supermarkets than you know. It doesn't order than half our one our game. You're playing okay. It's still very good is fast but ten minutes is almost now. It's a different animal all right so to do ten minutes. You have to have those products at hand in the time of ordering and somewhere close to the consumer so you cannot have one or two major warehouses in the city and then do ten minutes. That's not possible planned next day. And i mean we didn't come up with grocery delivery idea grocery deliveries have been going around last twenty years. You're today you get it next day. There's a plan at truck you know goes to ten fifteen twenty addresses drops boxes and stuff like that. So that's not the model who are doing what we're doing is almost now on demand fasted than you manav or okay so the faster than you is a simple santa's to say but it's so hard to do because when you do it it's a two way trip you have to get out of the house go Some stuff pay for it. Bring it back and you need to drive unique Car something like that. Maybe it's twenty minutes. Maybe thirty minutes even if you have someplace close by and it is a bigger shopping trip. It's more than are now you're gonna and with the ten minute model is ten minutes but we only take one or two minutes of your time. While you're we don't take ten minutes of your time in the other. One takes alvar. You use full thirty minutes of your time to do some shopping with me. You just give one or two minutes while ordering you continue. What they're doing about ten minutes. Later i ring your bell. Said this is a And to do this you have control over the whole process. And that's why having all these warehouses in the city. Having control of inventory is crucial. Otherwise you can't do in terms of the white house is or whatever. The was the selection criteria for one location being bathroom. Another is it. Purely a case of distance to conceive ma and their variables like costa realestate that you will have to consider as making one warehouse location attractive. Costal has of course is important but not the most important the most important is being close to your consumer. You know how many people live nearby and amendments going to take you on a one way trip. Okay so in our business model you will have these we so we call him polygons depending on that. Then we have custom noha there on deciding where to these warehouses so at the moment we can't make a mistake on location choice because our technology tells us exactly where to put those warehouse. We can't find in that exact seat will use once it up or down. Approximately we'll put the warehouse the shop. We operate com on the right location. So this is not like other retail you to some places in some of them are not because we know where you download us when you donald us we know exactly Takes place so we know our customers potentially either and so it's just basic technology. Some algorithms work there so we can keep adding more warehouses just off Places in terms of the technology. I'm really interested. I have wrath from go puff al-mishari before and he said that in one of the cool straightens was that warehouse management system. In the prophecies they built from the ground up in that market fulfillment centers. I guess how do you think about you might with wm s and some big lessons view. In terms of optimizing that process.
"twenty minute" Discussed on The Twenty Minute VC
"This tastes carol. My coffees needs so that i can focus on working with great. Founders leading fund. Managers have made over thousand investments into six thousand startups via angel list all online and all in one place and with the recently announced ruining funds. You can easy. Find an invest in these talk manages for an angel list dot com forward slash rolling and harness is the next generation of wealth management solution creative for builders individuals founding scaling investing in businesses are you approaching liquidity event and expertise on how to navigate stock sales receiving. Okay one partnership updates and wondering whether there's about a task to help you simply tax advice on your crypto holdings on his attack employees and investors find optimal solutions to that finances. Their algorithms helps identify the right services for your needs and recommends the right advises for you on how founders and early employees at companies stripe he wipe off a firm queen base implant county more here with finances simply go to harness wealthed dot com forward slash tuesday zero seats. Sign up plus twenty minute. Bt listeners receive one hundred dollars off that first. Tv's when they sign up for advice on the hornets platform by entering twenty minute and finally. Let's face it. This new world remote work is here to stay and so all of the new headaches that come with running a remote team ripping helps grain startups automate. Their hr it. And now. they're making it super easy to manage employees and contractors anywhere when you hire people in new states rippling now automatically registered. You'll start up with each state arts agency and keep you comply with all of the different local labor laws from their rippling. That's you onboard. New highs and literally ninety seconds you can instantly set up people's payroll benefits and all of their apps slant and get hub and so if you're looking for an easier way to run your startup remotely or just a better way to manage. Hr it visit rippling dot com slash two zero visa. That's rippling dot com forward slash 202. That is quite enough for me. They so now. I'm so excited and proud to welcome doug. Leoni global managing partner sequoia capital..
Former Airline Ticket Agent Recalls Helping 9/11 Hijackers Board Flight
"One story that. I saw that i did not know before and believe me. If this for you this would bother you to even twenty years. Later is an abc news story. They talked to a man by the name of vaughan. Alex who back on september eleventh two thousand one was ticket agent at dulles international airport and two guys arrived and they seem to be in a hurry. They wanted to make flight seventy seven. That's the one that slammed into the pentagon. Let's play this story from. Abc news the interview. Done by gio benitez when you come in here and you see that ticket counter does it bring you back to that morning. Everything brings you back to that morning. Vaughn alex is talking about the morning. That changed our world. Chaos in new york at the moment. They're not one but two incidents too late arriving first class passengers came rushing through the doors at dulles international airport in virginia. They're late they stop. They were confused. They were looking back and forth and then they need to be lying for where. I was working by. Von was at the american airlines ticket counter. Training to age we were just sitting around and too late. Passengers came running in the terminal. Stopped and i was joking. I looked at at my agents. And i said watch these for flight seventy seven and they were but as we now know. They weren't just any passengers. They were salem and waffle. Hosby me two of the five hijackers on flight seventy seven which later crashed into the pentagon. So you had about twenty minutes until that flight while just under twenty minutes. And i told the agents because they were new i said. Let me show you how we handle late arriving passengers and we did everything. According to the book
'Miracles in Manhattan' Is About God Meeting People Where They Are
"In manhattan. What do you think of that ron lynette. The book is brand new. Miracles in manhattan. When that. you're saying who you thought. The book might appeal to. I think everyone at some point in their life needs a miracle or we certainly know someone else who does and we wrote this book. We pulled these stories together in order to have a tool. That if you're sitting in your neighborhood or in your kid's school or wherever you are and you think that person needs a miracle. They may not be ready for church yet. They'll be ready for this book because you cannot put this book down story after story and we know these people we've known these stories we would read it. We would finish putting it together. And i would sit there and our living room. Read it to ron. We would be. We would stop in their tracks and we all we can do as weep because it reminds you as just like when you read the word of god god's into daily life meeting people where they are and so we want it to be a tool We sent the first six stories to a publisher. Secular publisher and within twenty minutes. He was on the phone. Saying i wanna talk to to ron lewis. Because i i wanna. I wanna talk about this book. It's got that appeal eric. And that thrills us. Because god's gonna use it to reach people who need a meal look i. This is part of the reason we're friends. Is that this idea that somebody might not be ready for church. They're not they're not ready for quote unquote. Christianity becomes with this baggage. Whatever but we all know. Jesus died for them. They were made in his image so he wants to reach them. And so a book like miracles. Manhattan it's why right half books that i do. I mean you want something that you can give to somebody who is not on the same page as you are to say like you know what Maybe this i think you'll like this here and it starts something and it gets people thinking differently because obviously if you're watching the news or watching i mean we live in a world. That is so secular. it's insane. They act like god doesn't exist parentheses. That's not true but we live in that world. And so we need to kind of breakthrough. How do we break through so stories like this. That are real. You know these people. I'm excited thanks for writing the book. It's been an honor. I mean we were compiling. We were just interviewing digging down deep with people. Oftentimes they would give us the outcome instead of like. What were you really going through. So we tried to make sure that people gave us the bad news before the good news that you can really appreciate the good news when you're living in bad news every day of your life and so we put no teaching preaching. It's just fifty stories. Great
September 11: We Will Never Forget
"For years. Now story core has been working with the national september eleventh memorial and museum to record and catalogue the voices. You're about to hear voices that captured the lasting toll of nine eleven. What we know in case you just joining us just after nine. Am that day. United airlines flight one. Seventy five crashed into the south tower of the world trade center. Here's the tape. You see the play coming in from it. Looks like the east side and goes into the building and it was widely captured on video because tv cameras were already trained on the north tower. It had been hit by american airlines flight. Eleven twenty minutes earlier credible pictures. These happened just moments ago and one of the people watching tv. That morning was stacey threatens mom to call me at work she said stacy. How are you watching. Tv the trade centers has been hit. And we were commenting on that. Oh my gosh you know what could we do. We were talking. Maybe they could go give blood. Her mom said or drive up to new york and try to help. It was less than four hours from the dc area where they lived. And where stacy's mom cheryl worked an administrative assistant for the us army and her office was in the pentagon and she said. Stacy i've gotta go and fairly sharp tone to her voice and she hung up the phone on me. I tried to call my mom's office back and nobody answered the phone. The hair stood up on the back of my neck. And my co worker. At the time said the pentagon's been hit stacey coulter sisters and they all met at their parents house. They spent that night calling. Area hospitals trying to find cheryl and he couldn't and late that night her father pulled up alone. He came in the house and everybody else was upstairs. And it was just he. And i and i said dad finder and he just looked at me and he started to cry and he put one hand on either side of the hallway and sinking into his knees and he sustained. She's not coming home. This is it.
US Men Defeat Honduras, 4-1
"Much up for about an hour last night and then we stop staring into it and we scored a few goals and all of a sudden. I think that everything is going to be absolutely perfect forever forever and ever it got bleak last night it got dark. It's amazing it's almost like. Us soccer twitter jayjay. It's of all like the twitter spaces. I think it's the most manic roller coaster ride. It's crazy is for for people who don't follow a lot of us soccer accounts or whatever like it's a crazy place. And i think last night we actually at halftime had a manager. Change greg bear halter. He was fired on. Us soccer twitter at the end of the first half. Then after the subs anthony robinson's go. We played three minutes without a manager. But after robinson's goal bear halter was actually rehired and finish the game out as manager. So he's now back in his second stint with us soccer and it was very interesting as well for an hour and starting mls players. Terrible idea what are you doing. Joe bed better terrible. We smelled and then for the last twenty minutes. It was like land. That i love stand beside. Mls son guide its players to the national team. Like you just don't know what you're what you're gonna get oscillating wildly you you. It's a crazy place and you cannot allow yourself to get sucked into the one hundred percent absolutes. That are run out that this guy sucks. Why is he. I don't ever want to see him again. But now it's just a funny place. But anyway i don't know how deeply want to go into that. It was just a funny
What It Means to Understand Your Power
"To recap last week. I talked about the first step in having resilience. Which is this ability to bounce back from hardship to stand back up and go again. What does it mean to be resilient and to be strong and to keep going last week. I talked about the idea that for me. I think the first step is making peace with what is and the way that we make. Peace is through our mindset and the way that we look at things so that's what last week's episode was about. Go dig in and start there but assuming you've already consumed that one this week. I wanna talk about power. I wanna to talk about your personal power from a few different perspectives. Because resilient really is about string and nobody comes into this world resilient you come into this world completely dependent on other people to keep you alive in fact my friend. Tom and i were just talking about this. And it was in tuesday's episodes if you didn't listen to my interview with tom bill. You go check this out. He talks about this idea that humans are the only animal that come into the world with just zero skills and ability to keep themselves alive. Think about a horse horse comes into the world and twenty minutes later. It's walking we come into the world and we can't do anything and if you're designed in such a way we have to presuppose that there's a reason for that yes. We are much more complex than we can think and we can speak and we can do things that animals can't do and so it's easy to think that it takes longer to evolve and become functioning human beings because we have more things to evolve but you could also look at it another way and ask if there's something more at play than just the facts that your wiring more complex maybe what's at play is the reminder that we always have the ability to grow and evolve.
US Open Day 8: Djokovic vs. Brooksby
"Eight of the. us open. Anna's we come to you. We are watching novak djokovic. Sit in a meditative state at the chair. Midway through his fourth-round match against twenty year. Old american jensen brooks be. He lost the first set. It has been an epic second-set with still in it. Jovic leads five games to brooks spear serving. Two five to stay in the set to five does not tell the story of this set of tennis. There was a twenty minute game in the middle of it in which books be broke eventually the joke of which served to to get things back on track but rich being the guy that he is immediately sees the
Antifascist Vaush Debates Charlie on the Profit Incentive for COVID Vaccines
"I'm just curious. Does that ever make you stop short and say who. Maybe they're trying to inoculate us on a vaccine that might not be as effective to try to pursue profit not wellbeing. Does that ever like enter into your consideration. It's a consideration. You should take about anything produced by any company. That's run for profit. Which is everything you know Basically every need in american society need is tempered by the knowledge that there are people out there who are paid very large salaries to sell it to you. This is the case for everything. We'd everything we eat every time you run down main street or in my case i guess You know the boulevards in los angeles You're seeing the protracted efforts of a billion dollar industry to make sure you want things they're selling could that be the case for covert undeniably. There was a prophet incentive involved. Oh my goodness i'm sorry. And there was probably a protected effort on the part of these companies to make sure they were the first and they probably took every dirty advantage. What but with the data available. I have to still much i would say. Hey i would prefer eating. Mcdonald's who to starvation. I have to say this is probably still something we should be doing you want to do. I don't wanna stay. We've been twenty minutes. Oh for sure gonna make a final media would starve. I actually think this has been really constructive not like that. You know inflammatory. I think that deep down you have this kind of you know urged that i'm already there were. Maybe they want this thing to go on for another decade to go make another hundred billion dollars. And maybe the cheap drug hydrochloric winter ivermectin might work better than they might think. I don't have that urge. Certain other studies would disagree with you earlier. We could change the topic. I just i just think it's so. I'll know that was a healthy discord. Can i meet in the middle on that one on that very last one. I do not trust the pharmaceutical industries. Though the available evidence does seem to point to the effectiveness the vaccines say this Nationalized the pharma industry seriously. It can be used for the collective good and i would ironically actually trust it more in the hands of our ineffective. Bloated government would be sociopaths. Who run at
Can Ben Simmons Be Saved From Philly?
"You may remember our guest here from page to espn's page to. bill simmons. Now has his own podcast. Yeah and each walk into this now but soviet i actually i wanted to talk about ben simmons. 'cause i'm doing football the next couple of pods on my pod and i just have like a twenty minute. Ben simmons conversation me that might you know expire a. I don't know what the time sensitivity is on it. Who knows something happened over the weekend. But i'm just so fascinated by this story. And i don't even remember if it has a payroll and recent mba history again. That's where you always. I think kind of lap the rest of the historical perspective of like. Hey this is happening. It's newsy we've got all these tidbits rumors that we're going to get to and in who's in charge of the steel but historically what we're talking about with somebody this young this many years left on the deal and basically saying hey you guys think i suck anyway. So what's the point. And then the threatening holdout thing which i had heard about about a month ago. Yeah it was met with kind of indifference like all right. Go ahead hold out man But we don't know so why don't you take it in any direction. You think the headline part of this story is right now. The headline part of the story. Is i think both sides have a right to just want to move on from this right and i think everybody else unfortunately knows that for the two sides but you have this starts when they try to trade him for harden you know and you could make simmons the bad guy you can make clutch the bad guy. There's all kinds of takes. You can do with this but it starts when they try to trade him for harden and when you try to trade somebody you go down the road you actually think you got him which i think both of us had until that day that harden was going affiliate was the rap and simmons knows all this so it starts there. Then you have this kind of embiid's team it's embiid city. He's always resident in that city. More than simmons says she had that piece to you whether those guys get along or not. I don't even think that really matters for
How Ben Greenfield Exercises & His Workout Philosophy
"Have a background in bio mechanics and exercise physiology right. That's that's what. I did my master's degree in university of idaho. And so i like to. I like to chunk the programs that create. and and so. If you're listening in this is what you need to step back and ask yourself about your fitness program. I like to include certain components that that specifically focus on core buckets of fitness. So the first would be strength. Like every fitness program needs a lifting heavy shit type of component. Now that can include lighter weights to failure that can include blood flow restriction training right which we actually included in the latter's program has an option to simulate or to trick the muscle into thinking that it's under heavy load that can include super slow strength training with a slightly lighter load like ten to thirty second up ten to thirty second down which is fantastic for for for bringing a muscle to failure at a low risk of injury with a minimum effective dose of exercise like a super slow full body. Strength training workouts. Like fifteen to twenty minute workout and it can also include traditional strength right. Squats dead lifts overhead presses preferably for all of those. I like to use unless someone's going through rehab physical therapy or they're really kind of aesthetically going after certain body parts you know it's like bicep curls or calf raises or whatever. I like everything to be multi joint as much as possible on my programs. You don't have leg day you don't have stomach day. You know triceps and biceps day. That works for a bodybuilder. Who's got like two to four hours a day to spend in the gym and completely crush each of those individual body parts and i used to be a bodybuilder. I used to experiment with that stuff. And and i've realized that if you want the minimum effective dose of exercise every workout is full body right. When was the last time that you used your body and it was just lower body or just upper body or you're trying to play a game of tennis and it was just triceps right. So there's a functional component and also a time saving component. When you're not doing body parts sweats newsroom. Full body instead.
Rockets Hit Neighborhood Near Kabul Airport Amid US Pullout
"What could fire has hit an area near Kabul and pulled the meat the U. S. pullout the rocket far apparently targeting couples International Airport struck a nearby neighborhood on the eve of the deadline for US troops to withdraw from the country after the attack planes continued to land on taxi across the northern military side of the airport taking off roughly every twenty minutes at one point no group has immediately claimed responsibility for the attack last week the Islamic state group in Afghanistan launched a devastating suicide bombing that's one of the apple gates killing around one hundred and seventy Afghans I'm thirteen U. S. service members I'm Charles the last month
"twenty minute" Discussed on The Twenty Minute VC
"I will say that there's a part of me that likes being operator more than being a vc. Because of the feedback loop by you do eventually get used to it and figure out how to operate with very long cycle feedback. We're gonna breakdown inch in tons said if we saw it on the alberta side capital one base with incredible. While johnny water arrived with nigel. But i heard that you're responsible for someone successes. Put them on the map. We don't really illegal Seems like a little bit of a dyke. Wholesome meal powerballs. Can you explain. Let's not actually a paradox. Is kinda funny. Because i literally was almost fired twice all into offices. I wasn't even sure if i was going to walk out of the office with or without my bad so there were some big things that happened at capital one. Where executed something. That was seminal in very important company but executed in a way that it either put the company at risk or wasn't executed the way that the machine of capital one wanted to execute. So yes at some point the way you actually get the work done matters. But the reason why it's not a paradox is because companies go through phases and if you think about the difference between a very small company startup and a very large company. Let's just take a giant public company. The report earnings every three months the differences at a big company. You earn your bonus one year at a time. You know the powers that be tell you what's important it's decided within a smoky room. All of the goals are actually handed. Down cascaded through the organization broken into small pieces again. There's something that's pure about being an operator and figuring out how to make those small goals actually work every single day every single order every single year but you can actually earn eighty to ninety percent of your bonus saying no to everything. It's new right. If you literally say no to everything you have the power to optimize. What's in your control sued that you could at eighty or ninety percent of your bonus not everything new in a smaller company startup. It's the exact opposite you to string together. Seven years worth of yes diseases in order to build any company that has any value. So you have to figure out how to get to yes every day instead of getting to know you might as well shut the door if you get to know but you have to get to. Yes and you have to string together. These decisions over seven years ten years in order to build any company of size so it is a huge difference. Where back in the early stage of any company that you're building where you have to get to yes every day. It's a creative problem. Solving and there is no machine. There is no specific way that the organization has figured out how to get worked on. It's about getting to the answer. And when i was a capital one i have to admit i felt like i reported to the answering machine figuring out how to get to yes was basically who i was. It was my identity. When i was given very difficult challenges by the organization. The only answer was to solve the problem. Any leases fundamental powell though when it moves away from the process to yes to s- exacting the machine. Do you know what i mean. Is that powder. Startups have which is like we just rice. The ass knowles unit making machine happy startups power. Superpower is figuring out every day to get to. Yes it's about unity of focus. It's about a team that again reports to the answer in figures out how to break down barriers and get things done and the super power of a large organization is that they have resources they have policies they have procedures. They've created a methodology for getting good results and being able to produce whatever it is. They produce with certainty with regularity ultimately stamp out whatever the product is that they're creating in a very uniform way so big companies have scale advantages. Big companies have consistency advantages. Big companies avoid mistakes big companies have fewer fire drills like there are a lot of characteristics of big companies that are actually very valuable but small companies can make things happen because again they report to the answer they report to getting yes rather than reporting to the machine and our work is done when you these kind of execution lessons that you have from capital one. I'm interested how do you think that. Experience impacted one of two things. First is like the type of investor. You all stay and second is the type of business. You'd like to back here. A capital one. Everything was about testing learn. It was about the scientific methodology. It was about figuring out how to prove things before you would end up putting a lot of money behind it in rolling out any new product or any new strategy. You know that's really where the acuity mean came from we used to use. Qa d. as a verb as an adjective as a now like we used it around capitol one as if it were just this all encompassing goal in mind which is about proving everything and it's affected the type of investments that we make in how we think about investments. I personally like investments where you can systemically de risk. You can turn over cards. You can figure out how to break down a big problem into smaller pieces in theses that you can prove you can figure out by putting things out in the market in small volumes or with tests whether it's working or not working. The market either agrees with your. It slaps you in the face and tells you that you're absolutely wrong. You know if you can systemically turnover cards and figure out where you're right and then put money behind places where you're right in order to grow whatever it is. That's working and then put new initiatives out into the marketplace test new ideas and continue to grow on. Top of your successes. Those are the type of businesses. That i really like. It's not every type. Venture bankable business. That is really our sweet spot. But when we approach business it really is about breaking things down into learning agendas and figuring out what you're going to learn because again i think about the venture asset class is very simple. It's about asking answering the question. How much can you learn for how much money how quickly. And when you can put a learning agenda in place figure out what you're gonna learn for how much money then it becomes much more comfortable jewelry that stay with the capital preparation that we have designed de risk on the entrepreneurs off Often we say hey..
"twenty minute" Discussed on The Twenty Minute VC
"And you can even see when you look at the past two or three how much. They're learning in that process in all fairness for that. If they have that are totally agree with you in terms of that process in terms of the relationship. Bill that you have with them the uncovering of that process. How do you think about the matt today. When fundraising timelines Compressed yeah it's funny. I was just talking to one of our investors about the fact that i really seek not to have by investing time. Line be compressed if a founder wants to find just to chat i say to my team. Mike says this as well like we have to force choice. If someone's just looking for checkbook. Were probably not your gal guy. Because we don't make that many seed investments we are not an index fund. We don't seek to make a hundred investments in a year. I only make somewhere between three and six investments every year. So we're in july. I've only made to investments at the seat stage. Why because spent actually a lot of time with these companies. And when i make an investment i commit to doing that i commit that my investment will make a difference in our fun so it's not an option but it's the only time in which i can make that investment and so i won't have a future chance to do it and i'm not gonna make an investment in a competitive company because i'm all in with you and so if i'm going to make that commitment i can't make a decision in twenty four hours and so i need the chance to get to know that that founder the last two investments that i've done i had a month long process through which we got to know each other and it was a commitment to let another and i recognize a. That's just not the usual. The seed stage in there are probably companies that i don't get to invest in as a result of that but i also think that it forces a choice i do wanna give onto live when think it's rations and then is more than the model today. What was it clear. The new lift mobile was very much working. Yeah so this is sometimes where people will say them. Product market fit is not a moment. But i think this is probably the counter to that one lift launched in two thousand twelve. I remember one of our associates literally running into my office and the sky. Tommy leap he says you would not believe how amazing this product is like. Lift is going to be huge. And it wasn't that he used the product one hundred times at this point he had literally used it for two days and he thought it was life changing and so i remember contacting the lift guides and saying i think we have something. I've never seen a reaction like this. It wasn't just. Tommy ended up being all of these young people who had asked about lift and they said this is just totally different and so in my mind it just became a very very clear moment. Where for long time. We've been selling this platform looking for density of activity and it's just kind of fallen and for law and so that was like two thousand twelve. I think in the summer we were just experimenting and like i say were experimenting. They john and logan emailed a bunch of zinn rive users in the san francisco area and they built lift in like three weeks because they felt like this was an experiment that they wanted to run at the time like uber. Was this black car service. It the whole tagline was via baller. And so having your friend come and pick you up you have this gigantic free pink mustache the front of the car and then you're supposed to sit up in the front seat was just like it was the opposite of via baller we also. There was no payment mechanism because there was sort of this regulatory gray area and so there a suggested donation and so you could technically right for free. Most people actually pay the suggested donation until it was like the series of light pretty hacky experiments that then became pretty clear that this was something that people really desired but for a year after that we were still running zim ride as a platform. How did you tell me what was the right time. Still not off. Because it's a tough thing. Steve revenue customers. You'll enterprises decision making around that. And i think like this is where you know. Hindsight is twenty twenty. It's like totally clear. They should have gone all in but again. You put yourself in the shoes of the founder when you're founder you're all in on your idea like the whole thing is that you've created this narrative not only for yourself but for your employees that this product this vision this mission is meaningful. And you've given up birthday celebrations with france nights out to make this vision come true and so your body into this and then comes along this three week experiment. That seems really successful. Like when you look at it now like obviously they should head in this direction. But that's not the way necessarily works. I think that's why it took a year. But i remember within a few months. We had to make a decision to divert basically ninety percent of the resources to lift and i took a walk with logan. All around like the ballpark area. I remember just sort of walking and walking. And he's saying like. I think i need to do this. Is this what we do. And i think we do. I think we have to go on this and then at this board meeting held remember who it was. But someone set might. Do you really think that this is going to work and my loading and jolly slammed the fifth summit table. Natalie this is for sure going to work and we need to head in this direction and to just like see that conviction when you have a few million dollars of revenues coming here and that's what investors invested into that was really powerful because you don't have a ton of data points and then you're saying let's go our loved that pounding the fist on the table. I do want to back couple of accidents. He said that you mentioned like the still. She's on the front. And i remember it was like high-fiving friends the way nice people. How did they build that culture. How do you analyze that. And would that look like in those days. Yeah it was really interesting. So even for their series which is before they made him and actually beyond in several other conversations with investors. This is a question is to get all the time. Are they too nice. Are they too nice. Are they too nice. Are they not competitive enough. That used to grate on me. Because i used to think liar. Those two things so countered to one another like. Can't you not have both. Can you be a nice person but fiercely competitive. And what i found with lift and john logan in particular you can be. You can be unethical person. You could be a nice person. And you can be fiercely fiercely competitive but the thing that i've learned in this journey is sometimes you need to define your own game when you're put on the field and someone has a game that they're really good at if view then training gauge in that battle on their bases..
"twenty minute" Discussed on The Twenty Minute VC
"The time. And today you know for what it's worth and so the transition to investor started really around two thousand ten were fortunate of amazing entrepreneurs as close friends. We started investing in their companies. Many of them became big companies and so fast forward we've done seventy five deals and velvety ventures is the vehicle which we are transforming all of what we have accomplished as entrepreneurs as investors in into we believe scalable business that we're gonna do for the rest of our life and all of the product is different than anything done before it feels like every other business we've started so pitched investors successfully raise money. We have created a that seems to be well received by our customers the entrepreneur and although investing seems different i would never compare it to how difficult it is to growing tech startup. An i at least feel like we're using many of the same muscles that we built starting companies. I totally agree. I think building a farm in many ways is building a company in many ways. So i totally agree that in terms of that kind of operational element do you want to also slightly taking a bash. And i hope it's okay for me to awesome will personal one but you know. I saw an incredible each video. The dave in stated about some health challenges you faced early on in life. Can you tell me about this. And how it actually impacted your mind says yet. You're really going back far. You're going back to embryonic. Mike was born with a congenital heart defect. I had what's called been. Trickier settled defect hole. In between the two ventricles luckily closed up. When i was born and i was asymptomatic for much of my life when i was nineteen day sided. They needed to go in to fix it when they went in. They solved at my valve needed replacing. And basically you know my heart to be rebuilt in many ways anti to open heart surgeries within eight days. Each other after. I won by a or vowel burst. I zero blood pressure. I had two hours to get into the operating room and get it fixed and really emerge out of that process when i was nineteen years before my junior year at northwestern a pretty changed person before that was kinda stressed out. I stressed about the little stuff afterward fearless. I felt like i was playing in overtime. I shouldn't have been marriage. Should have been dead. If it weren't for great doctors and timing. I would have been dead. And so i came out of it saying what's the worst thing that can happen. I'm alive that's really all the matters. They might which you've seen just the most incredible changes in financial markets and one being the dot com era and the boom the bus since a major. I'll mutual friend ost. How did the dot com era fundamentally impact your approach to business and investing the companies Today grit question. I've been working on tech startup since nineteen ninety-three nine hundred ninety four so i'm coming up on thirty years and it's hard to understand cycles without either living through them.
"twenty minute" Discussed on The Twenty Minute VC
"Structural sclerotic frankly ways that we do things and i think about it in the microcosm of my own company and as like how are we limiting our ability to to kind of lenient. So for me it was just this really eye-opening and breaking from that dimension and i think everybody should read it. Would you do now that you wish you'd none of the star of your attack. It's all to be okay. Chiloe like i think i was like. I was so amped and like eager and ambushes. And i wanted. The outcomes sometimes. Didn't slow down. And stop and celebrate enough along the way. And i think i was just on to the next thing on the treadmill i would regularly take the weekend off between jobs with that. Was i thought that was a good idea. And i think the ideas take a minute. You'll actually be better. You'll be more creative. You'll be freshly. You'll be able to give more if you can take that time in between things and to take a pause. Most the biggest lie that rich people tell themselves. Oh there's just so much more capable like it's not that i'm just really that much better than everyone else. I think. That's the lie understanding the importance of preparation meaning opportunity. I e luck. That's an important thing where you are born. The time you were born at all that leads into how successful at her money comes to be what advice. You often give but find heartache. I think put your own oxygen mask on first. You know one of the things. I say in my company you'll go often having like somebody's going to a funeral or somebody's mom gets cancer. Kid gets sick. And i will say to them. You know like self family company always in that order is if you can't take care of yourself you can't get oxygen to the next person and i find that sometimes i read a little too hard. If you could change one thing with the wave of a wand. what would it be. I used to say i'd be in. I'd like to be able to tell it transport. But i think we've done this in the ages. Zoom like my the superpower Was that honestly. it's climate. I mean you know hundred eight in seattle and my teams there today. I was just in southern conference. One hundred degrees Climate changes upon us. We saw this whole read. Don in san francisco last september. And so i would heal. This planet will stop have often one. What three traits would you let your children to adopt. I would hope that they are hind. Curious in the third one is is still just joyful. I think life is harder when you don't bring joy to the equation. One of our sayings is joy and laughter belong here so that's important as well final for if we sat out in five years time and everything is going to fund as we sat. I wish it go to. Why would we be then well for me and my company i mean. I think we're kind of an underdog story. I think we have old software here and there were rerating future. We're rebuilding it from the inside out. And so i think it's people look at me and go How on earth does she do that. I never would have thought she gets taken massive assets and he became bat thing and at people like lisa sue. A in which she started with. Emergency is right now and it's just like nobody would've looked at that time and thought that that could have happened so a story like that would be just remarkable. Listen perseverance has been so much stay..
"twenty minute" Discussed on The Twenty Minute VC
"Failure but it taught us stole much that we all my gnarly. We're solving the wrong problem. Solving the problem. And i think it was just a good lesson in eighteen minute because they moved so quickly. Got the answers. We kept evolving in iterating. And then they got more teams and then eventually they're rose became bigger and then they got promoted so just the whole ecosystem around that swift thoughtful risk. You know point of view risk decision making much bigger and more important for drivers overall company organization it is absolutely conversations which is why i love this. Not she not in the schedule. But i'm saying she gives the street away for free when you have a new initiative new palm like on. How long did you give it as a test. But how long is enough enough before you got. Cut guys walking not working girls. Yeah i think it is the most important question first of all. I you know i always ask. What is the unscaled will thing we need to do to get to scale and so you do a lot of unskilled things so like at some point you just start being stupid you keep turning the grand your and i think that's what's embedded in that. Is this fight for product market fit. And i think when you're in a bigger company you have product market fit over here but if you're not looking at the jaycees and trying to understand the tenjin product market fit if you will and i think it is an inter process in i think it gets back to point of view is like how strong is your hypothesis. How much do you believe this product does in fact exist and therefore she just one more tweet and so it's really an element of. I'm a big believer indeed outrightly garbage russell ellsberg data like it was my time to play to where we were more of a data company truly than a gaming company. I would say but there are times where your belief in what the end product state needs to be in your belief that customer experience needs in could be is what i think often propels. You see entrepreneurs do this all the time where they're like an ad in. There are also extra analyses. I guess like sometimes market conditions are just not ready for the thing that you want to build right so we had an example visit of with deebo pay where we wanted to get rid of the whole leg. Put your check in the whole back and forth in the dance so we had it going but the point of sale infrastructure was not where it needed to be in order for that to ultimately be successful and so we were just early like had that launch. Now be wildly successful because you think food delivery businesses and other things that have changed the paradigm of what point of sale looks like in restaurant but we were just early. So that's the other thing. That matt page attention to like. Are there extra. Halliday's that prohibit your vision from coming to reality that you don't control and if don't control enough of the extra analyses and they're not where they need to be. You could just be too early on his grand vision. I'll call it. And sometimes when you're too early to rob kearney medium market timing a mental told me the other day hiring where you're going to get undone is you have to understand the corner z. Cam cut versus the quasi calm kat. It's a good point. And i've thought about it pretty concentrations the lost c. Days how do you think about that question especially in leadership in how. You do things in new initiatives today. I am a court corner cutter by nature. I'd say i've surrounded myself of like idolaters t- crossers so they keep me safe. Sometimes maybe a lot of leadership jus just self-awareness. Like what is my temperament. what do i like to do. And i am thousand miles an hour and i am. I am hopping dive into product. And then i'll go into like in our infrastructure technology in the marketing ever here in finance. And so i'm everywhere. And by definition of that fully jacob trades master none. But i'm hopefully a master of a few of them but i know that i want people around me who are going to be obsessed about the detail and so i think it's about finding that complementary skill set for yourself such that you can decide okay like these are details that the maybe i cost. And they're going to come up to you. Say hey tom out. We gotta really focus on this. Because if you don't fix this this is going to be a problem. And i've worked people who do that is kind of get moving and somebody who pushes means and it's like you pay attention here and is going to be real anything you know. One of my favorite reference questions to ask is who would make a great number two. This person would that reference question is getting at is like you know. Of course it's sort of critical weakness but nobody can spike along every dimension. Nobody can be amazing every single thing that they do they have to have an understanding of like. Who's a great column actress person. Who's going to do the thing that this person may not do. So i find people around me. We're going to not cut corners than tell them that they can tell me to stop favorite. The trouble is i worked too hard. You la. I love john. Brennan totally love courtesy measuring thousand miles. Now i can tell him. I love that my feeling funny when i interview associated interviewed. You ever sit back and appreciate what you've done what you've achieved if it was a great quarter. Do you take time to be like ashley we did. Well i'm going to enjoy this button and actually had learned to do that because unnaturally mind time equals. Zero is always like three months before it hits everybody else so after recognize there just seeing this for the first time you've already been processing it so now like we just did our quarterly town hall this morning and we great results like really truly fantastic and now i think he did. I really stop. And i feel like they did. But i think it's important to knowledge in to celebrate the winds along the way. I have become an annual student and i think the act of like forcing myself to slow down to kinda like take monkey. When you're standing on your head you really do have to just focus about what you're doing right in that moment and i found it so therapeutic because people who are like you know like i'm constantly like i'm moving ally and they're just like literally and burt and it's a sign and sit on my by like slow down. Take him in. And it's in those moments that. I think you have this element of refreshing creativity kind of well that you refill because you gotta go at the next day i mean. Operating is a full body contact sport. I like to and so you're in on it all the time and so you better take care of yourself in order to be able to give back to the organization and so that idea of ligament invert slowdown figure out what's important and then usually by the time it become rate again. I know where. I am what i need to be doing. Can i ask your way on. The hemp is house of us. At how do you rebuild. As he says is a full body contact for it herschel. Sometimes a needs. Just get beaten dislike undone. How you rebuild when that happens. It's i played sports in high school in college. And i think the act of losing and getting back up like falling down and like just that simple process of lake hallandale ago. That hurt that. I'm down. I'm gonna be out so many times you just know like it's just part of the process that you build it into the muscle memory..
"twenty minute" Discussed on The Twenty Minute VC
"Success looks like. You are simple. answer is always been like. We don't think of ourselves in the venture that growth business but in the business of making asymmetric bets on the exceptional people are gonna change finance so whether we're investing it's eat or in a public company whether we tell ourselves that a price around is cheaper. Not the conversation has to come back to the question. You're asking which is how. Jim this be you know for us. It's like him. This become one of the most important companies in the future of financial services. I think finance is big enough. That if you get that question right you can earn venture type returns even at a later stage and sometimes even when it's incredibly hard to write down on paper what you need to believe for something to be that big to to earn exceptional returns assert framing. That i would bring it back to a little different. What you're asking. But i think it kind of cuts to the core is like if you want to generate several multiples of whatever. Lp's trust you with. Which is our goal. The only way to do that is to be contrarian since otherwise returns get competed away just sort of like the law of investing so we always ask ourselves like do we have a non obvious or non consensus point of view. And it's not always clear like it's very obvious when you're truly non consensus. In retrospect like how it felt. When we i invested in bitcoin base and most people just had no idea what we're talking about. But then you look at something like crypto. Today with coin base is a public company and is a non consensus like in the broader scheme of things. It's still is exceptionally early. So you know even when everyone seems to agree with your general points like say new banks can be big. They might not agree on degree. And you know gets to the heart of what you're talking about one of the hardest things i've found in investing is updating. Your priors one point you can only see gripe is a billion dollar company and then you've got comfortable with his ten billion dollar company. But how do you get over that view. See one hundred billion dollar company or trillion dollar company and this imagination in constant reframing is seems to be one of the key intellectual traits of the best investors. It certainly might be the case that people are making themselves and over applying this kind of thinking. I think that definitely happens. He see too many companies price through richly. But for us it might be true that the best fintech companies are still in the phase of selling. Dvd's in books. And if you believe that like what might happen next. Warren buffett as the saying that time is the friend of the wonderful company more than valuation which is very important we all need to focus above all things like what are really the wonderful companies and imagine that true for you to it. Absolutely any what i find. Challenging also is bumped me in wall of kobe on last impassive attractions the compression fundraising timelines zoom fundraising blunt needs has made much to build a relationship with the founder. Bill deriving was wider team members. Feel the culture of the office and understand that fabric of wonderful if that makes sense isn't t- cheesy jeez struggle with that two hundred percent. I think that's the biggest challenge for us the fundraising environment evaluation environment. I should say is one thing. I think that's just a reality that you have to adapt to but how to build meaningful relationships and partnerships which we see as a cornerstone of how to be a great investor that that's harder to do. We always think when we're underwriting deal. And this i i learned you know as an lp to the first decisions important but it's you should do the work to make the second decision. 'cause you often will have to especially arriving. You have to make that decision before you have a chance to collect all that much more data but even more importantly if something goes wrong which is almost is inevitably the case in fintech companies. If there is some you know regulatory issue or balanced issue you want have to get back to that word. You wanna have the conviction to be great partners at that time and i think a lot of the worst behavior we see from investors as where they came into something quickly and they didn't really understand it and we really work hard not to be those investors. But it's hard to do on a three daytime line on zoom so we're working on it adjusting and trying to do a lot of things to figure out how to be on the front foot rather than the back foot. I mean i'm so savant that i'm not laying in that one. I do have lost a unique in terms of like you mentioned the reinvestments decision making process that when you think about ownership overloaded funds sunday of you'll size have a specific ownership requirements. How do you think about initiate requirements on industry. And how possible do you think. It is to build a Overtime often. I find with the best pleased. Get taken away by the best and never seen again. How do you think butler Ownership definitely matters to me. That's like almost the immutable law. But i think this is one of the tricky dichotomies of the business in there that you can never quite reconcile. There's this fs god. It's gerald quote that i remember from college that like the test of a true i rate intelligence is the ability to hold two ideas. You're at the same time and still retain the ability to function. And that's what i think about on this topic all the time. So here's my two opposing ideas. That seem hard to reconcile like. I ownership really matters mostly because we're all limited by the time we allocate and ribbit. We really believe in making concentrated focus investments and putting our money where our mouth is like second at the same time i think investing in the best companies should be the tail wags the dog. You certainly shouldn't back a weaker company because you thank you can own a few more percent of it. So the thought experiment for me goes like this like if the best founders only want to sell you experts in their company and access lower than your ideal. You kinda have three choices one. You don't back the founders to you just shut your business or.
"twenty minute" Discussed on The Twenty Minute VC
"The lead. Direct her ex. Ceo vaccine and jamie says you know the difference between leeann every other directors lee transferred his credibility to me when i needed it. The most right. So that's what you want. You want a board that is able to transfer their credibility whether there is an investor or as an operator to the leader to the ceo in the very worst day. And that's what a good board member should be able to. I think a lot of it. She goes by insecure. See within the bull vandalism. They feel they have to speak out. They have to project the appearance that stalls. That reallocation possessive. Look if you're the fester if you on fifteen percent of the company or something like that you need to be part of a government structure and everybody understands data. That's good right but once you're there it's all about. The company is all about finding a role to help the company. Everything else has just wasted motion. Everything else has just scratching your ego or something else. So i just some boards on the master salesman some boards. I'm the crisis manager. Some boards of this boards. And that you know it's kind of different contexts. In different place tightly with the towns that plasticity to me between roles within different boards you mentioned like imagine imaginable on the hottest day when you think back to really holidays for you in leadership bumped knee and so i'm using this consulting session when you are in that shit and you can see away. How did you deal with it. You look. I think you know really when you're middle of a crisis. The first thing is you want people that absorbed fear so you want people adopt become fear celebrators. They become fear absorbers. And it doesn't matter which crisis i've seen i of go from nine eleven to the financial crisis to fukushima cova. Did you want people that can kind of you know. The fear stops with me. People that can simplify and just say okay. What problem do. I need to salt today. Let's not worry about seventeen things. Let's focus on what we have to do today. Really couldn't communicate. Communications during crisis are at a premium because solo is known. So you become kind of the expert if you will. That's critical then. You've got to be able to hold two truths at the same time. Like one is that things can always get worse but the other one is. Who's going to be a future and we want to make sure that we don't cut off any of the avenues that can lose some future so absorbed fear hall truths solve the problem in front of you communicate and then the last thing i'd say harry is. You want to keep your eyes up to look around your team and see who's panicking who's awful and have a sense for how we can as we get out of the mess who you want really on your team because you never know anything about anybody in a good day you can only sense them like at five minutes to midnight. That's when you see the character of the person around you. You never conceded when the sun's up what are you deal. Nec the truth in need. I like about people. Yeah when it's five nights over the course of time. I've been very hard on people. I've seen them at their true behavior. But not all the time and at the end of my tenure. Let my guard down a few times and bid me badly right. So i always say to people like as i've as i've gone through the last couple of the book you know we always say it's about the people of a pupil people that you trust. You can really make it through a lot of crappy things and when you're around people you don't trust it almost always breaks your heart rate so you know i was typically good but not one hundred percent of the time in a bit me so i have the problem of iced from a position of ultimate trust and you leaders of start waziri. Zero drostan is yours to gain chapel. Is i can get burned very easily here and the others. It's the most cynical view. But you've got bonds as much which side you on. And how do you think your side you know again. I think you're exactly right. I think both can be successful right. I think i want the best in people because again i think it's hard to inspire and be aspirational. If you think everybody around you is starts at zero. By the same token i tried to surround myself with sex. Every so you wanna have whether it's your cfo or your hr leader somebody around you. Who has while. I'm saying a harry's great they're there's you know here snapped it up so you need to have a mixture of views but it's about trust like to meet trust is not loyalty. People confuse trust and loyalty. I never expected people to be loyal to me. I expected to be loyal to the company. Right to be loyal. Put the company. I and i think particularly it's one the challenges with silicon valley with tech. Is that if you see your future in any company that comes along. It's harder to kind of get a sense for people really all pulling for the company at the moment that accounts right. Somebody's the challenge of hr leaders in this generation particularly attack is really difficult really challenging. I totally agree with you. And i didn't think people have loyalty that they want stayed to united nations. My grandfather Companies like fifty years. Now i'm totally with that school. Say we live like the drumbeat of every cool an hitting targets the hitting public market expectations money. Did you have Backing yeah we did a good job. I'm happy that wall. Down jeff juice sit back and appreciate it a little bit otherwise. It's just an ongoing grind yellow coming. I think you have to create what is good and what you want to hold your team accountable for and be very transparent about that. And sometimes that aligns with what investors think and sometimes it doesn't line what investors think and. That's just the nature of the beast. Probably the best year. My team and i had two years was two thousand eight and two thousand nine during the financial crisis and we were getting creamed in the marketplace and criticized in the wall street journal and every place else but we were. The world's biggest finance company with lehman brothers. Went bankrupt our ship. Took a torpedo in the ingen rome and we swarmed ashore right. We made it shore. We saved the company. We preserve the businesses and i would say people no other team on earth could have done what we did and i was proud of the team and i felt great about what we've done in a moment where it was terrible appearance financial services. That was terrible. I think look you can say a lot about champion hosts and elon. Musk and some of those guys who have create immensely valuable companies but donald on their terms particularly jeff. I think jeff just retired there to ago whenever he did. You just created the world's most valuable company and he really didn't on his terms he said. Look i'm not gonna make money now. I'm going to do this. I'm going to go into media. I'm gonna go into healthcare different things like that and now people can get fired by thinking. They're joe these funds..
"twenty minute" Discussed on The Twenty Minute VC
"Do it and the trick of the whole thing is to be irrational but listen at the same time you need to sit irrational aspirations but at the same time have people that are coming in the side door setting for chaff. Your that was a dumb idea. But you have to play both because Size is a huge advantage when you've got momentum going the right way and it's a huge disadvantage when the momentum stops and that's true he said about having people say at jeff. That's not a good idea at. I agree but oftentimes always down to honesty. The leader ensuring the people around them feel comfortable enough to say jeff. I disagree with you on your own head by ukraine environment. Where you'll see sweet the closest people around you feel they can push back and they can tell you anything you need to be around people you trust. We really need to be around. You've to have some people around you that you've been to the battles with and that you trust i teach second year classes stanford business school and the kids at school. They're really touchy feely. And all the stuff they teach them like. Listen to everybody. Everybody's right you know and if you listen everybody thinks are going to be great. That's not true is keeping get as much trouble fi listening also in the by listening to much right and so the turk is having people you trust and people. That are different than you are have different. Contexts have different thoughts. But what they're saying to you is not. We don't want to what they're saying is here's how we can do it better here. We can adjust. And that's kind of the people you want around you. I guarantee you that if elon musk. Jeff bezos or mark. Benny off ever did a review. A three sixty the people around that aren't saying they're really good. There's a lot of people say they didn't listen pipe but they are listening right. They are listening but they're listening to the core of people that they can really help. Make things better g worry that modern management techniques. Which is you know. Listen to everyone discuss debate intellectualize. Were all the wonderful but lacking fundamentally an execution. Gyn needs to maldon management theories actually reduce effectiveness for juice execution. But i think some of them get beaten out of you pretty quickly right behind closed doors. I'm one on one with a founder particularly founders. I remind them to say look. This is your company. You don't need to listen to everybody. In fact i just was a board meeting and you know some input. You're kidding is really selfish by the investors at from their perspective but not good for the company. You know some of the people that i like working with. They've already found out that you know they don't have to listen. I'm ready. you recently. Interviewed jeff loss way. Love right. I think jeff is awesome and that he's a really good listener but he does want some time and he doesn't listen everybody which behind the shelf. I love that about you. You're discerning you've got a nose for bs. You know when things get distracted and that's a highly valuable context right so again. I think having this kind of switch off switch being able to pick out. What's really important discarding. Things aren't helpful. That's what i try to coach people on and that's what the best founders know how to do now on the site ginger meetings and how did you find me. Go from ceo g. managing jeez for which is a very different style of bulletin startup board. Do you enjoy them. And how did you find that dynamic. You know. I still miss operations. But i think the role that i play particularly with startups is. I'd pick a swindling. You know where. I come and listen to the first meeting at trying to get to know the ceo. And then i kind of see what's open which swim lane is open to me. Because typically on the boards. I have the broadest experience and the most experienced and most the boards were all investors. I'm the of better worse investor than anybody. But i know how to sell. I know how to globalize. I know how to hire managers. You know i know what really bad shit looks like. So i pick a swim lane and i think again. I like private boards better than public boards. I think the best boards are joyful doors. Ford's a painful. But i do all any board work i do. I do because. I really love the ceo. And i'm really trying to help him out in whatever way. I can't when you think boys can be really impactful. Why do they really productive and health. Because i'm going to over. Generalize here i think they question is like orange are winning question of maximizing momentum's board can be really helped you know in other words when things are going more or less okay the strategies more or less okay. The world's more or less okay or it's can help you get the most out of that situation and i think boards are typically not that good on the company's worst. I always say the ceo when they're pregnant board. People don't picture them today. Picture them on the worst day pictured them. You've missed a quarter. An activist shows up. The technology doesn't work. Your best person left picture. Board's going to act on the worst day and then you can determine whether or not the board is going to be helpful to you or not too. Many board members put themselves. I their own reputation and not enough or members. Put the company. I i remember a decade ago. Jimmy diamond is a good friend of mine. And he's an awesome guy. One of the best of this generation. He's a tough time after the financial crisis because of the london whale right so he was really in the crosshairs and we're talking about his board and he talked about lee raymond. Who was the lead. Direct her ex. Ceo vaccine and jamie says you know the difference between leeann every other directors lee transferred his credibility to me when i needed.
"twenty minute" Discussed on The Twenty Minute VC
"I remember my first investment there and was panicked like my making moral decision here. I've grown to get comfortable with it over time. I think the benefit of the single trip ends may be obvious but the benefit single tripler model as opposed to committee decision making is it's the ultimate measure conviction so if that individual has conviction and get feedback from the partnership in maybe the feedback is constructive or negative and still wants to make the investment that's conviction right and if there's a committee model sometimes you know one of the negative things that happens is they're selling and so because often committee will look to the person and try measure engaged conviction and so they're selling and so meisters get leads to less intellectually honest conversations in open conversations. Because you know. There's some element of convincing. That needs to happen as opposed to personal conviction building by challenging and asking questions and exposing concerns and getting feedback on those. This is the telephone but do you think there is in politics. I mean there is most funds. Virginia there is internal policies. Andriessen you one can do to maybe prevent or minimize them sound like a bullshitting. 'cause it's like the politics are pretty split. Look if you're a single trigger puller model lots of the politics come from shit like that trying to convince people trying to advocate your own ideas trying to shit on other people's ideas because you know maybe there is a deal that gets done instead of yours. Why would that introduce politics. Evincing gotree like. I'd like to steal and i have to say see late at golvin light. I have to get you on side all. Vote for your deal with you. Vote for my job. I'm saying the same thing i'm saying. The single model eliminates the politics right estate promotion for the andreessen model and thing that causes politics internally like promotions path after people i think part of the benefit of the way just background of most of my partners being founders of companies is. They've actually run companies. I this is typically a problem with investment firms like superstar investors in running the firm whereas you know we are firms run by people who run companies. Yeah i totally agree the and see that one of many reasons i walk away without amina likes me but i'll not. It's certainly not everybody loves you man. I was fishing. Total fasching edge stepped right into it anyway as well as i find what couple. But it's like everyone's gonna spot now. I've been trying to twenty five out so cool but anyway everyone's gonna smack. How do you think about mariah's of spikes despite mall kit whether it's good bad and opportunity look at expects are great for the company side. They provide another form of liquidity and getting public for companies.
"twenty minute" Discussed on The Twenty Minute VC
"Have now arrived at your destination. Davis such joy to have you on the show. Say my friend. I do want to say he signed. He's angeles range on your team in the ali database for some burning questions suggestions. But thank you so much for joining me stay. David thanks for having me harry potter 'blanche and luggage. Don't why thank you so much. I still can't believe. I actually get paid to talk to people like easer. It's pretty crazy life. But i do want to start with some contacts. They tell me. How did you make your way to the world adventure and come to be leading andrea since growth fund today. Yeah so look. I grew up in kentucky very far away from the world of finance and technology fortunate. I had an awesome upbringing. My parents i had an older brother went to college. Notre dame thing that was going to be a lawyer thankfully. I went into to the finance industry school instead. Eventually i moved to san francisco in two thousand eight where i started to. I encounter the world attack. And i joined general about ten years ago edgy. I had the chance to invest in some amazing companies spent about seven years. Their companies like crowd strike uber. Airbnb open door slack. And in some others that are a little bit lesser known but really awesome companies like banality in seismic i came over a sixteen z to start and run our new growth about two and a half years ago. Initially got no some of the folks at the firm just from some overlapping investments that we had so. I think i knew alex. Impel the best because we had invested together in open door and fast forward to now we're investing from our second growth volunteer and the chance to build a a great team inside the firm in work with some awesome founders and companies as well. I mean it's been incredible. Time since joining andrea you have to touch on the time. Makers is sasha prominent figure in the industry. But it's very different one. So i have to ask. We'll be biggest takeaways from your time with g. How do you think it impacted. you'll mentality. yeah legitimate amazing place. I'm really grateful to the team. They're one of the foundational frameworks that i developed. Coming out of. It was what makes breakout or successful growth investment or sort of pattern recognition. What i look for in almost all cases for me that has come down to a great founder and then a theory on busting through consensus view on total addressable market or tam. The consequence of that is a company that grows faster faster and or longer than expected. So take my time here. Take roadblocks the prevailing view when we invested was. Hey it's just a kids game. Well you know we felt the day had a shot and still do at being something much bigger. A coach experience platform.
"twenty minute" Discussed on The Twenty Minute VC
"Start. There is p right the web hosting company. And i gave him the ten thousand and then and they pay me fifteen percent interest plus wards so got the ten thousand dollars back and then the worst and then they went public and i make forty on the wards by the way twenty five hundred dollars investment so i had to bug now. Of course. I lost money going toward. But i had the bug and then i started to invest in other companies that were our clients and we as a firm we're investing in other funds and it just gave me a real good feeling for how to manage and become fresh investor which is where we are now but i do want to move into my favorite which is a quickfire so i say the statement and then you mean your immediate says that Fee sure okay. So what's the favorite book. And why what. Must i been reading in. Well i'm going to give you a couple of books. One is called undaunted courage. Which is the lewis and clark expedition. And then you might enjoy anything about james cook but the endeavor and the reason. I love those books. Today is that we're all maybe complaining a little bit. Hey i've got five zoom meetings etc like go read books and stop complaining like what they were able to accomplish and the hardships they overcame where unbelievable and inspiring how to become a fall that change your phrasing mines. That's wow so long ago now. Look you've heard this before you absolutely have this unique individual that is now your responsibility and it just has to change your mentality whether you know her not so changed my life for sure and very very proud to say that. What is the biggest lie. You think people will tell themselves. I pay too much in taxes. Won't muscle saying gee most frequently by two. i'm why why use this with both my kids and myself. I always say be bigger than you are. You know whether that's physically or mentally you know. Put yourself out there as being bigger whether it's which talking about a maybe physicality just to have that confidence in yourself bigger than you are. What piece of advice do you often give. But find and yourself. Don't worry about it. it's not in delegate. I'm worst delegate and tell me what do you know now you wish none of the start of your career in venture all that. Anybody can do this job. I mean i think visa has is is up on this pedestal in some ways and that it's some sort of secret key to lock the door become a c and i think you can do it from any type of position and so you know at times. I think a little bit intimidated by getting into the bbc world. But i wish. I had known that. Then what would you change about the world adventure today. I wish everybody would have to post their returns. Publicly every quarter. Oh why competition. Let's see what everybody's hands people were plan now. This this business is very opaque right. You can be a vc. Never have a return for like ten years somehow figured out you can say put twenty five k into billion dollar companies and put the logo on your side and say l. e. avesta you can find a one also most recent publicly announced investment. And why did you say yes. I get so excited. I think you saw recently. It's a company called. Kobe gennabra bat. Jim was very passionate about the business. We ended up using them. I don't know if you've seen it kind of entering in the metaverse here for business we used it for a event that we get with the bonfire founders. And it's really cool different in terms of how you interact with team instead of just using zoom. This is your own world that you can make. We can make a bonfire world so it's very different than you'd ever think that we would do. Maybe as bonfire firm software. It is cloud and we were there early. We started to get to know the founding team and as you see alexa hannigan from seven seven six with us and we both saw and believe that being a partner in that deal would be great ford in the firm in the fun i mean. Excuse me company not listened in two thousand sixteen. I'm so glad only took his five years to make it happen honesty. I started love this discussion. So thank you for joining me. Stay see in london soon. I i told you. Some of my favorite venture passion points in terms of the discussion. That i so hope you enjoyed it absolutely loved having mark on the show. If you'd like to see more from us you can find on the twenty minute. Bbc dot com. But before we leave each day did you know that more than eighty percent of. Us public stories owned by just ten percent of americans. This divide is even greater in the private markets is.
"twenty minute" Discussed on The Twenty Minute VC
"And there are certainly situations where we've given stretch capital and they didn't get there and so back to portfolio construction as you were saying that sometimes the mental games. You have to play with. If i give this company half a million extend that company to the next round reason need this money as maybe they're actually not getting there fast enough for a third party to do it. Maybe i should be thinking about saving that money for my next core. Investment as opposed to the extension. Those are questions we ask ourselves all the time and we will continue to ask ourselves on time. It just will happen. that way. Hiding house was challenging Which is like you know the best companies they need your extra kathleen follow around those that denote capital great companies engaged in my next question which is actually time allocation something. I struggle with a look which is like how do you think. Time allocation across the portfolio. Rational minds would say spending with the winners. That's what your dollars will be returned but ashey. It's not always simple. How do you think about like effect who time allocation across the pool there. I'm obsessed with time management myself. The reality is and you've heard this before. Sometimes the winners needs you. The least and it just goes that way like you would love to say look. I'm on the board of these three companies. They're going to the moon. And i'm just hanging out and getting the accolades because they happen to be on the board of his company. That's going to know what you end up. Having is that the companies that are struggling. Need us the most. Because that's how we put ourselves out there. We have a lot of experience. We've seen a lot of things we actually are telling you when we're investing we will be there when you need us and that is the hard part because we promise it and then it takes away from the time that we need to maybe focus on winners or new investments. But it's okay. It's likely made i often. We really enjoy. It moved more fun wide perspective. But it's the i'm gonna ball. He said that about kind of maybe taking seven eight hundred ten. The investments is board sees. How's your board members. Style changed over the years even been member on many companies. Many as. how's your style changed. And what do you think those inflection points in them changing. Well my style is change. I mean i'm on the board of one big public company. It's ten billion revenue company with five billion of ebitda and join another public company. And then i have my seed investments so one day. I'll be having a conversation with the founder about helping her win a fifty thousand dollar. Acp contract or hiring or head of marketing right and the next day. I'm talking about two. And a half billion dollar financing with my company anima chairman of the audit committee on these public companies. So i have these serious conversations. They're all serious but they're just serious and different levels and as a board member. I have luckily lived in. Several countries of work done deals. In thirty countries. Many many different entrepreneurs have learned how to work with and advise lots of different types of entrepreneurs. And so i tend to be you know for this before on the psychiatrists like to motivate you. I know in the challenge you. I know when to comfort you have really dug deeper into that as a board member as opposed to board member that comes in and with through and wants to talk about. You know your quickly talk about finals. I talk about all this stuff..
"twenty minute" Discussed on The Twenty Minute VC
"And contrary to everyone who you talk to that no for every show. I'm GonNa give one away and people thought that was the dumbest business the idea and it turned out to be the best business idea. Start something that matters. If you have a mission you'll create a movement and that's really helped guide my thinking on the type of investing thing I want to do well. It's the single biggest challenge of your role with case that stay. It's really so emotionally. Attached to our companies is knowing when to shut them down and stop supporting them. It's heart wrenching. Ching it's that's the that's the toughest thing what she knew. Now that you wish you'd known at the start of your career invention seventeen years ago that you can only lose one time your money and that you can make infinite the amounts. I would've taken even wilder butts earlier in my career. When you look back at Khosla what are you most proud of our desire to be at our sticking to our mission of being bold early and impactful and everything we do and then finally won the most recent publicly announced investment? And why did you say yes and get so excited. I'd say the probably the most recent one is a company called light show which is doing direct to patient clinical trials the biggest driver of cost and pharmaceutical companies and why drug prices are so. Hi is that the trial process is so long and expensive and you can shorten the trial time every day you shorten. Clinical trials is a million dollars that has saved saved the healthcare system and this company is is basically instead of having to go to Stanford or Berkeley go to the hospital. Wait in line figure out where to go to to participate in a clinical clinical trial. They'll do it all at your home. They'll find you online though enroll you online or really easy way. And they'll do everything at home and we think that will.
"twenty minute" Discussed on The Twenty Minute VC
"I'm just incredibly nervous about having to carry the company any for years personally. How do you feel about that? And is not as she quite a naive process given the cost basis. That you all. It's what really killed the cleantech industry and there are a lot of reasons but one of the reasons that all my fellow brethren and the ventures ran for the hills and then you had all these companies I think some that deserve to fail and some that deserve to live. That unfortunately didn't get that chance because there was no more money and many of those companies we were the funders of last resort and that was quite a big burden and we carried Jerod for some and were unable to carry it for others. But we definitely now when I think about some of the harder tech areas I invest in. I think about okay if there's a rainy day and we're delayed by a two years and that two year burned the cochlear for you is beyond the means of us. Who else should I bring in? Or who else would be there to invest and a lot of those companies. The answer is well does not going to be another venture group. It's going to be strategic and I your team you have to carry the company longer to get it where it's appetizing. Strategic and the strategic process also take a couple of months. It could take a year to start that process earlier. And so you know. You've we've seen examples of those across our portfolio obscenity i. I'm glad as a naive question. They also often are in regulated markets. You said that about going to clean tack in your fellow. Brethren running for the hills in terms of regulated markets often investors similarly run for the hills why light regulated markets seven some big lessons few and scaling efficiently in these regulates pockets. Yeah I don't think I look for regulated markets. I think you know in health care and food. Food Energy have just been regulated market. I do think that the regulator markets tend to fit the thesis that we mentioned which is they tend not to have had much innovation because because people are scared of them and if you can enter those markets with technology innovation you can get in a low valuation cost point markets tend to be pretty sticky. There's not a lot of the competition and you can have some of the great successes or but they take a lot of guts. They take a lot of money and they take time but some of the most successful companies in our portfolio have been regulated market square in the Banking Industry Guard into Oscar have been in the healthcare industry impossible foods or the food industry. These are very very regulated markets. And they've been of of our biggest ones. They also form a natural Barrett barrier to entry. Right say the regulations defensibility painful to get through. But once you do absolutely I do want to move into the final segment before the quake fighter and it's a question of inflation moments and people. This is an interesting one from the fashion moment perspective. What was an tough off onto? Asphalt was one of the most formative experiences few in Investec. Does it stay count to you. And how did they change how you think. It's probably right when I started working with new barred. Flagship picture was meeting Steve. Quick at that time Steve is one of the legendary professors and biophysics. He's now co-head of Chan Zuckerberg was Howard Hughes tenured Professor Search Stanford and when I met him it was right after I left business school in two thousand and two and he was a professor at junior professor at Caltech and he had published a paper on single molecule molecule sequencing which would be ultimately what aluminum has done at that point. Aluminum is probably worth three hundred million. And now they're worth forty six billion and now everyone getting their genome sequence etcetera knows. That wasn't particularly Steve Technology. But Ito getting to like meet. Someone like that and Stephen are still very close friends. We've done three companies since together and on being like wow like like you can read a scientific paper partner with a professor and then start a company that we started a company called that went public and I was like this is what I WANNA do the rest of my life. I was was technical enough where I could get the credibility of the scientists and the professors and I had enough business accurate where I could help them. Commercialize and I said this is what I want to the rest of my my life and he'll be brought on T.. Chew early advisory that Nobel laureate when working with the knows we did Jeeva which is a public company with Francis. Arnold had just won the Nobel Prize. We've done two or three companies that Shuji Nakimora when the Nobel Prize in physics so that you can Santa Barbara Pat Brown and impossible. There's many many more examples of you know the ability to it just partner with these like world class scientists right out of the university just based on a published paper and then the company that goes public though the company that sells burgers and working in the country. Like it started in two thousand and two with you'll coast and I haven't looked back since it's the most fun I have in. This job is doing that. You mentioned some incredible companies. He's army impacted. The they've had on society. I want to ask you know as we both. They know everything Canham will go up into. The right. Failure does happen in adventure. Happens Austin how do you think about learning through failure. And when you think alchemist. Is there a moment that really sticks out here. Oh yeah absolutely. I failed a lot. You could argue that the whole cleantech sector was a failure. I think I'm proud of our portfolio and there we will end up positive. And there's a number of companies that are worth north of a few billion dollars there that are making real impacts but in the middle middle of that cleantech bust where companies were failing. There was no funding. It was just a mess. It was a dark point for me personally and I have to really do some real soul-searching searching like my even any good at this. I know what I'm doing. It's just a human emotion right. It's easy to kind of Brag about all your winners. But you know the reality where you learn more and more you get better when you really evaluate where. You're really bad things and getting self-aware about that and so it was actually in. That time is sounds funny but I read a book called called eating animals by Jonathan Safran. Four 'cause I was pretty depressed. I can't believe that in San Francisco with all this venture back and we can't do anything about climate change and that no one cares that and we learned that consumers won't pay more for power consumers won't pay more for fuel for their cars and I'm like I can't believe this I really just GonNa let climate change go on embedded and with all all the money we've spent and technology can't make a difference there and I read this book by Jonathan. You Learn not book. That animal farming is either equal or more bad for the environment than coal plants. And I was like wow. That's pretty interesting. And then a whole foods opened up in our neighborhood in San Francisco and we'd shop there and I noticed the clientele there. It wasn't just rich. Venture capitalist or rich entrepreneurs are bankers or doctors. It was a whole swath of society who are paying double or triple the price for an organic mango versus the the regular mango or for some crazy Khumbu thing ping eight bucks a model and I was like Oh my goodness I got it. Animal farming is as important a thing to address as Cole and the consumer actually gives a shit about it and we'll pay more for it. We want everything to be cost neutral but at least will give the company chance to get to scale. Well they'll pay more for people will pay more for food. They'll pay more than their bodies. They'll certainly pay more for what they're putting their kids bodies. And if we address this it also has this massive impact on on the the environment which was something. I was pretty much the main reason I left flagship to move out to California and start Khosla ventures and from that came you know impossible food started with pat in my office all these food companies the nine years ago and my friends like you're crazy. Most of my friends ever doing cleantech. God bless them all have all moved on to tack attack and they've gone and they're doing enterprise consumer and that's great intact and that's great. They've all done well. They're smart and they're having a lot of fun and I remember this moment because my wife brought I celebrate our twentieth anniversary in June. She said don't give up on it. She goes like we didn't move out to California and make these sacrifices to just do what everyone else does you need. Just stick with us. You're passionate about the environment and you gotta find a way you will and this was an epiphany for me and next thing you know I went. We gotTA Boscell nine years ago in our office to get past the first three million bucks. We partnered on it and now the company is it's done great and we've done a bunch of other things have food ripple new tech and others as well and I started to go back to doing more healthcare investing where Garden Oscar number of other companies came out of it so that moment is my darkest moment by far a lot of in diety a lot of stress. A lot of self doubt led the two were now. Everyone is investing food and everyone congratulating not impossible because love work to do but it's nonetheless it's been really exciting. Can I ask the final question. Full the quake fine was it. Your wife statement then. Kind of reinforcing supports that mitigated the self-doubt how did you get over south down Sunday night off the whole time again being honest it was obviously my wife support. What is the most important thing on the planet Jim? I started to see a therapist so I still see and I recommend to everybody. It's a great thing to do and I read a lot of books like you know Eker toll as power now which talks about living in the present and not thinking about the past and future and meditating and making time for myself exercising more more and so there's not one answer unfortunately but there are answers and I think those things collectively together after remind myself and he's still going to self out a lot and keeping those things together and doing that on a regular as you can of those things that makes a big difference. Plus I've so enjoyed this. I'm we're moving into the quickfire round. Now say is a short statement and then you give me your immediate tools. All you ready to dive live in. I'm ready okay. So the favorite Bookham. Why must've we be reading? A book called start. Something that matters by Blake Makovsky. who was the founder of Toms? which is it just outstanding? I've mentioned eating animals and power of now but I'd say that book talks about a guy who didn't mean to start a big enterprise like Tom just wanted to make shoot who who was in Argentina and saw shoes being made I can make them United States.