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Yeah, I think that is still the most viral thread ever on Twitter.
This is our fourth attempt at it, by the way. Really? There are no overnight successes. There are no overnight successes. Um and what would you What was the What were the other two? Venture Hacks, just doing the blog? Venture Hacks in 2007, we actually launched a little social network called the Pound Deal Flow Network. Mhm. Which died in obscurity. Um and then in '08, uh we had a Google Group and in '09, we had a Yammer mailing list. And then 2010, we launched it just as a straight email list a
the critique of AngelList which even saying there's a critique of what you're doing No, but I mean that for people to critique the fact that you have and your partner have created a platform that a you know, is funding a person a day and at this place point it's probably three or four people a day. The fact that anybody could critique it to me, they're missing the point. I mean this didn't exist before and you willed it with your team into being. So it it deserves, you know, reverence as far as
the sloppy entrepreneur who's not really thinking about that stuff, it's a little bit of a tell that maybe they won't even be there in 2 years. They'll sell when they get the first offer or they'll shut down when they hit the first road speed bump.
unless you're extremely forward-looking and for the long haul and you and you ooze that with every fiber of your being, um you're never going to build a great business.
the entrepreneurs were extremely deliberate in every early decision that they made. They were not haphazard. And the reason is because they really felt like they were laying the foundation for a 10-year business. None of them was thinking of it as something that they would try and flip.
I definitely believe that as an entrepreneur you'll never accomplish anything great in life unless you stick with it through the end.
It's also frustrating and painful as an investor cuz then you just don't know. You don't know what's going to work till it works. Maybe it goes back to the adage of, you know, you bet on great people and then you cross your fingers and you hope for the best.
there are times when investor will look at you and say, 'Okay, you tried your best. You tried that thing. Didn't work. Pivot.' Mhm. And that'll be the right answer. Other times they'll say, 'Shut it down.' And that'll be the right answer. And other times it'll they'll say, 'Keep it going.' And that'll be the right answer. And it's highly contextual based on who you are, how big the space is, how well you know it, how many ideas you've tried, how good your iterations are, etc., etc.
it's highly contextual, right? It's like I could tell you the 10 great pieces of advice for building a startup, but you'd have to apply them each in just the right way, just the right time, and know when to ignore half of them.
the startup industry is now such an incredibly complex and diverse ecosystem that all generalizations like these are idiotic.
And the second is you've got hubs now for distributing information across entrepreneurs. And it could be OAF or even the Funded, it could be AngelList, it could be Y Combinator Techstars, or your incubator, what have you.
and now people have come along like Y Combinator and TechStars and AngelPad and so on who say we're the advice
people that did like like Twitter and Foursquare. And I was thinking to myself, what was a common thread amongst each of them... I realized that the entrepreneurs were extremely deliberate in every early decision that they made. They were not haphazard. And the reason is because they really felt like they were laying the foundation for a 10-year business.