CEO @ReferRush | @thewtfund winner | @ucla math & philosophy | a deep thinker with shallow desires
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Joined May 2012
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Conviction is when you know in your bones
Tony Xu of @DoorDash on getting rejected by investors, competing against rivals with thousands of times more capital, and how founders can tell conviction from delusion:
"I had over 100 rejections in a span of over 1,000 days where the company almost constantly ran out of money... I couldn't raise a dime, and we were running out of capital."
"Companies like Amazon or Uber were in the space who had way more capital than we had. Hundreds of times, maybe thousands of times of capital deployed versus the amount that we raised. So then the question becomes, well, how are you gonna win this cash-burning machine?"
"This is where you as the founder have to finely tune that line between delusion and knowing that you have something that others don't understand. What are the customers telling you?"
"We the founders did deliveries for almost virtually every day the first three years of the company's life... And so we had strong points of view on each side of our marketplace that could explain what was happening in the numbers."
"When you have one set of facts, which is your customers, you have another set of facts, what are called opinions and perceptions, you gotta trust the facts. That's ultimately what kept us going."
@t_xu w/ @speedrun GP @andrewchen
It’s actually a terrible compliment for a co-founder
You want your co-founder to follow your company’s practices and protocols. No one on the team should get special treatment
Content Ankit about Referrush + content around Referrush = customers
Vikram Pai retweeted
Caring is the moat, you should feel visceral pain when things are bad or broken and stop at nothing to fix them
Funny people are the smartest
One of the biggest communication and organizational harmony practices is a channel with decision logs writing down every decision made so no one in the team is confused
Company building is company design
Beware of envy. Your success does not merely show others that you succeeded. It can remind them of where they haven’t.
People need to understand the conditions that produced Hitler.
Germany was humiliated by Versailles. The allied powers crushed them. Then came mass unemployment, poverty, collapsing opportunity and the feeling that ordinary Germans were getting poorer while a small elite remained wealthy.
The Nazis weaponized that anger. They portrayed Jews as disproportionately controlling wealth and finance and gave a desperate population someone to blame. Germany had roughly six million unemployed when Hitler was selling himself as its “last hope.”
Look at the unrest across Europe today: housing becoming unaffordable, wages under pressure, deteriorating public services, young people feeling they have no economic future, and growing distrust of the political establishment.
The ideologies and circumstances are very different. But the mechanism is worth understanding -
When people lose opportunity, dignity and faith in institutions, they become far more receptive to radical politics and to politicians who give them an enemy to blame.
The riots are crazy but it reminds of Neiztche “There is always some reason in madness”
