A Quote by Steve Jobs
I hate it when people call themselves 'entrepreneurs' when what they're really trying to do is launch a startup and then sell of go public, so they can cash in and move on. They're unwilling to do the work it takes to build a real company, which is the hardest work in business.
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On Startups: "I hate it when people call themselves "entrepreneurs" when what they're really trying to do is launch a startup and then sell or go public, so they can cash in and move on.
A lot of entrepreneurs hate big companies. But if you hate them so much, why are you trying to build a new one? The truth is, as soon as a startup has any kind of success whatsoever, it will face big company problems.
We want Facebook to be one of the best places people can go to learn how to build stuff. If you want to build a company, nothing better than jumping in and trying to build one. But Facebook is also great for entrepreneurs/hackers. If people want to come for a few years and move on and build something great, that's something we're proud of.
Networking is all about connecting with people. But then again, isn't that what life is about? The more time you can find to get out of the office and build true friendships, the farther your startup will go. Entrepreneurs need to remember to spend as much time working on their business as they do in their business.
Entrepreneurs don’t do most of the work. Entrepreneurs identify the problems, discover the opportunities and then build processes to allow other people and other things to do the work.
Theatre is real-time - you get that real-time audience reaction, which is fantastic. And with art pieces, people don't ever have to explain themselves. You can do something and really follow a research. With architecture, you have to be much more public. You have to build consensus. You have to work within the law. There are more complexities.
One thing I never thought about in my big-company job? Cash flow. When your business has billions of dollars in revenue, you can make a lot of mistakes and still have a viable business. But in a startup, make a few hiring mistakes, and you can find yourself in real jeopardy fast.
Basically my point of view on unicorns is that private companies which have sky high valuations, it doesn't really mean anything in the real world until it's marked to market. And there's only two ways things get marked to market in venture capital: Either a company is acquired by another company for cash or marketable security, or it goes public, and then it has reporting requirements and then the market will determine the value.
As a serial entrepreneur, angel investor and public company CEO, nothing irks me more than when a startup founder talks about wanting to cash in with an initial public offering.
You can't do business with a man who doesn't know the meaning of a contract. You can't do business with a firm who swears they'll do one thing one day and does just the opposite the next. You can't do business with a company who takes your goods on a cash basis and then pays you off in bum harmonicas.
There's not a lot of room anymore for what I call 'made-up' drama. The drama comes from real places now - marriage takes work and focus, the kid stuff takes patience and commitment. And if you don't grow as people and as a couple, within all of that, then you've got some real drama.
Each individual should work for himself. People will not sacrifice themselves for the company. They come to work at the company to enjoy themselves.
There's always apprehension whenever I launch anything, it seems. When I launch a tour, people are always, 'Oooh, is this gonna work?' And when I launch an album: 'Ooh, is this gonna work?' Or a new video. 'Really?' It's always like that - but I've always acted on the impulse that I have nothing to lose.
There are two companies that the AI Fund has invested in - Woebot and Landing AI - and the AI Fund has a number of internal teams working on new projects. We usually bring in people as employees, work with them to turn ideas into startups, then have the entrepreneurs go into the startup as founders.
Entrepreneurs need to start building today. The barrier to entry in tech is low, so start designing, start coding it, launch it, build prototypes, build a working version of it. The Internet has amazing powers of distribution. You can test your ideas. You can see if it works, if it doesn't work, whether it's fun, and whether you're sufficiently motivated. People who go into entrepreneurship to get rich aren't going to be happy. It’s the building of things that makes you happy. You have to enjoy the process whether you succeed or fail.
Aspiring entrepreneurs are often advised to work at a startup for a couple of years first, to understand what's involved. But often, each company's approach to success is very narrow. So my advice is, 'Just do it.'
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