What factors are crucial for building a successful billion-dollar company?
— Hiring the right people, being flexible with tactics, prioritizing learning and problem-solving approaches, allocating equity wisely, and relying on entrepreneurs to revolutionize industries through innovation and technology.
How important are the people you hire for the success of a company?
— The people you hire are crucial in determining the success of a company, as it becomes the people it hires and not just the plan it makes.
What is the role of investors in advising entrepreneurs?
— Investors in Silicon Valley are not always qualified to advise entrepreneurs, with 70% adding negative value and only 10% adding value as long-term company builders.
How important is it to have a supportive board as an entrepreneur?
— Entrepreneurs need a board that supports and calms them down, not one that adds stress and panic, and it's important to seek advice from those who have experience in decision making under ambiguity.
What should investors prioritize when choosing an entrepreneur to back?
— Investors should prioritize the rate of learning and first principles thinking when choosing an entrepreneur to back, rather than solely relying on experience.
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