Notes from a discussion between Marc Andreessen & Tim Ferriss
Notes from a discussion between Marc Andreessen & Tim Ferriss
Why is Marc a big deal?
Founder of Netscape which he sold to Aol for over > 4billion
Multiple billion dollar companies
Founder of Venture Capital firm
founded mosaic browser
44 years old
Tim Ferriss Podcast. Date: May 28 2016
Arrived in silicon valley mid 93-94
1) "Strong opinions; weakly held"
Look for things out of census and oppose conventional wisdom
In politics, flip flopping is considered bad
The worlds best hedge fund managers flip flop all the time
if you are right and they are wrong then will flip their trades
That is because they can.
They are not interested in being right, they are interested in making money
Uber vs twitter
Uber has the same business model
Twitter pivoted into a gold mine
2) Fail fast is completely out of hand.
The world pivot didn't exist it was in the past.
Succeeding should be the goal not failing
how do you know when to stick with an idea and when to pivot?
The answer is judgement
2) Stress test ideas
unlcik a hedge fund manager can reverse a trade. His venture capital makes a decade long commitment to a company
rule: each of the GP can pull the trigger on a vote. you don't need consensus
Its the responsible for
create a red team to stress
a debate team
Disagree and commit
4) Good is the enemy of great when investing money and *time*
avoid good companies.
they tend to go no wear
5) Choose partners/employees that speak truth to power
find the people who will talk back
eg. Ben his partner
get out of organisations where you can speak truth to power
His partner was amazing communicator
He can make people feel
6) The next big thing is what the nerds are tinkering with on the weekend
Saw the internet at a new frontier when no-one thought it was a thing
Starts as cult like activities before they break into the main street
"What are the nerds doing on nights and weekends?"
George built his own self driving cars
really upsets people
just a thing
highest output per minute of ideas
Commercial drones for insurance
Check a house
Cell tower inspection
Oil Gas rig
Autonomous consumer drone
doesnt require remote control
7) There will be no Skynet; AI will not take over the world
Humans have always been worried about this
Its just a tool.
World Economic Forum report. There will be 5 million jobs lost by 2020 due to AI
The u.s economy will destroy 21 million jobs and create 24 million
the american economy is getting less dynamic over time
this is bad
means that less opportunities are being created
nobody talks about gross number
there are 5 millon people who drive professionally in the united states
8) Try your best to see things as they are as opposed to how people believe them to be
9) Build something
"Everything in the world around you is made by somebody that is no smarter than you are" Steve
study people that built stuff
10) Raise the prices of your products/services now
too hungry to eat
don't price yourself too low
It will tell you if your product is not good enough
the way that things could have been
a conditional statement in which the conditional clause is false
If Tim had not read Vagabonding, he would probably be working in GNC
verb [ with obj. ] (usu. as adj. countervailing)
offset the effect of (something) by countering it with something of equal force: the dominance of the party was mediated by a number of countervailing factors.
A culture where people disagree than commit to the consensus.
As apposed to violently agree then trash each other in the hallway.
A person you can "Template against"
Eg. I want to template myself against Elon
proto- |ˈprōdō| (usu. prot- before a vowel)
original; primitive: prototherian | prototype.
• first; anterior; relating to a precursor: protomartyr | protozoan.
e.g. Proto Silicon Valley
FOMO (Fear of missing out)
Fear of missing out
For examples. I have this great deal that such and such is investing in. Do you want in??
Mark removed FOMO from the equation
Cortisol driven emergencies
a steroid hormone produced by the adrenal cortex and used medicinally to treat inflammation resulting from eczema and rheumatism.
Invested in Heinz Ketchp because people have been eating it for a century
Bets against change
Ben Graeme 1920
Getting to the core of the truth of what is actually happening
The strategy of selecting stocks that are trading less than there actual value.
The philosophy behind block chain
1 directly opposed or contrasted; mutually incompatible: people whose religious beliefs are antithetical to mine | two antithetical emotions pulled at her.
2 [ attrib. ] connected with, containing, or using the rhetorical device of antithesis.
Unlock the power of gods
Fire gave life but will take it away
Frankensteins subtitle was the modern prometheus
relating to or characteristic of the demigod Prometheus, especially in being rebelliously creative and innovative: the Promethean scientist who unlocked the mysteries of the cosmos.
a member of any of the bands of English workers who destroyed machinery, especially in cotton and woolen mills, that they believed was threatening their jobs (1811–16).
New technology does not lead to higher overall unemployment is changes the composition of the jobs
Icarus |ˈikərəs| Greek Mythology
the son of Daedalus, who escaped from Crete using wings made by his father but was killed when he flew too near the sun and the wax attaching his wings melted.
"we were promised flying cars, instead we got 140 characters"
Shares many of the same ideas as Elon Musk
Silicon Valley should be doing more
Founded paypal with Elon Musk
Marc debated Peter
William Randolph Hearst
John D Rockefeller
John P Morgan
Charles M. Schulz
Creator of peanuts
The longest continuous work of art
Four steps to the epiphany
High output management
Only the paranoid survive
Zero to one
Smart people should build things
My life standing up by Steve martin
Point of the book: "be so good that they cant ignore you"
Ben Franklin By Walter Isakson
The wizards of Menlo park
Walt Disney by Neil Gabbler
Download deep-learning framework from Google
halt and catch fire
the story of the birth of the pc
Andreeson horritiwz podcast
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