Assertion Supported AI assessment confidence: 92% certainty 3/5 debate potential 1/5

Stone's angel investment in Square yielded a 1,000x return

Biz Stone · 20VC: Twitter Co-Founder Biz Stone on The 3 Stages of Wealth, The Return To Twitter in 2017 and the Associated Missions and Challenges & Why Silicon Valley is not an "Insiders Only" Universe? · Jan 8, 2021 · at 31:36

Biz Stone, co-founder of Twitter, discusses his best-performing personal angel investments on 20VC with Harry Stebbings.

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“Oh, that would probably be square because it's something like a thousand X return or something.”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

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Assertion Supported
Twitter's board failed to find a better CEO than Jack Dorsey
“There was a committee of the board that was trying to find somebody else, and they weren't able to find anyone better than Jack.”
Biz Stone Jan 8, 2021 ▶ 15:29 20VC: Twitter Co-Founder Biz Stone on The 3 Stages of Wealth, The Return To Twitter in 2017 and the Associated Missions and Challenges & Why Silicon Valley is not an "Insiders Only" Universe?
Assertion Partly supported
Twitter suffered shrinking users, brain drain, and zero profit before 2017
“The company was not doing well. I mean, sort of ethically, it was the company itself was shrinking. It was a, there was a brain drain and there was also the user base was shrinking. There wasn't revenue or profit. And nobody felt like Twitter was a special pla…”
Biz Stone Jan 8, 2021 ▶ 16:37 20VC: Twitter Co-Founder Biz Stone on The 3 Stages of Wealth, The Return To Twitter in 2017 and the Associated Missions and Challenges & Why Silicon Valley is not an "Insiders Only" Universe?
Opinion
UK VCs are excessively risk-averse compared to US investors
“I do feel in general, there's kind of a self-fulfilling prophecy happening there where VCs don't really want to take that much of a risk. And so contrary to what it's like in the States, I feel like they often will offer something like a hundred or 200,000 in …”
Biz Stone Jan 8, 2021 ▶ 32:27 20VC: Twitter Co-Founder Biz Stone on The 3 Stages of Wealth, The Return To Twitter in 2017 and the Associated Missions and Challenges & Why Silicon Valley is not an "Insiders Only" Universe?
Insight
Founders shouldn't start a company without a 10-year commitment
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Biz Stone Jan 8, 2021 ▶ 6:12 20VC: Twitter Co-Founder Biz Stone on The 3 Stages of Wealth, The Return To Twitter in 2017 and the Associated Missions and Challenges & Why Silicon Valley is not an "Insiders Only" Universe?
Opinion
Suppressing personal identity at work creates a soulless company culture
“I think it would be kind of soulless if everyone just said, I'm going to bring half myself to work and it's going to be the political side and I'm not going to share any of this or that.”
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Disclosure
Stone spent six months unwittingly hurting morale upon returning to Twitter
“I kind of barged in like a bull in a china shop. I was advised that, you know, you're under a magnifying glass. You should really you know, be careful. And I thought to myself, oh yeah, I know what that's like. Don't worry about me. Yeah. We've been in under a…”
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