The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 41 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Zuckerberg Spent 80% of His Time at Facebook Outside Comfort Zone
“Mark once said in a Q and A in internal to Facebook that he said that he, and a lot of the reasons why we do that is because of how secure we are as people. And he would basically say that Something like, I don't know what exact number, but he said like, 80% o…”
Sequoia's Data Team Stopped the Firm From Making Bad Investments
“Many of this, by the way, that, that we stopped Sequoia from investing where I think they would have otherwise invested. It was so close to investment.”
Fast Hiring Dilutes Talent Density From A-Plus to A Players
“One thing, if you add more people, what happened is you, the A plus players becomes A and so on. And very fast, you need to get to grow very slowly so you can reach equilibriums very slowly and then keep The value of the entire team high. So do not hire very f…”
Startups Must Centralize Growth Teams Before Decentralizing Into Product Teams
“I think the answer at an earliest stage of your growth, I think they should be a standalone team. I think it's for two reasons. One is I think it's the, is for the best practices, meaning that they can learn from each other and then they can go solve problems …”
High Growth Rate Beats High Initial Capability Over Time Due to Compounding
“People with a slower asymptote, the faster growth is, are going to overtake. And I generally tend to invest in people over a very long period of time, but within reason, within two people, Within slope and this, I know that basically the effect of compounding …”
Chris Cox Excelled at Scaling Facebook, Not Turnarounds
“I mean, Chris Cox, excellent exec. For going from, at Facebook, Kristoff is excellent at good to great. I don't think he was good at okay to bad to okay”
Narayanan: No Single Executive Can Perform Both Turnarounds and Scaling
“You actually need to go inside a company, you need to do both. But not the same person can do it. You can't get the same person to do both. They don't even think like that.”
Narayanan: Staying Through Difficult Work Situations Builds Character
“The fact is that you need to build you not quitting is a character building exercise.”
Narayanan: Spend 6-9 Months Fixing Broken Work Situations Before Quitting
“So I think two years would have been a very long time, but I think six to nine months, I think it is worthwhile because otherwise I might never have done it.”
Narayanan Almost Got Fired at Facebook for Presenting Uncomfortable Data
“And it ended up being that the senior leadership that did not like what I was saying and I almost got fired for it. And, but that's when I think people like Harvey and Alex at Facebook actually backed me up.”
Narayanan: Avoiding bad investments is venture capital's biggest opportunity
“I actually think that good investments are relatively, I mean, there may be this one great investment that nobody knows about, and those are hard, and I agree with that. But if you think about the good investment, very quickly, everyone knows about it. It's no…”
Instagram Acquisition Forced Facebook to Switch Metrics From MAU to DAU
“When Instagram came along to Facebook, we still had the MEU as our goal. And so when we had the MEU as a goal, I mean basically Kevin's system was like, what? We are now in the mobile world. People use the phones all the time. We should be doing we do DAUs. We…”
Narayanan: Indecision costs more than wrong decisions if iteration speed is fast
“I actually think that the cost of not making the decision, in my opinion, is far worse than making a wrong one as long as you can iterate fast.”
Narayanan: Startups should not hire growth leads before product-market fit
“You don't want to hire anyone before product market fit, because at the end of it, I think, as I mentioned to you, I think growth is about scaling the product market fit in a sustainable way. It basically means that if you're not able to grow, if you, if you'r…”
Early-stage startups should hire for immediate needs, not 18-month scale
“But the earliest stages, I actually hired for what I needed right now, because there's no point in hiring someone who will be so valuable for you in 18 months and who can influence everything, but can't build your dashboard.”
Narayanan Advised OpenAI to Prioritize Influence Over Stats Skills for Growth
“And when I talked to OpenAI, they asked me who should be hiring for the head of analytics and head of growth and so on. I said, oh, someone who's looking at a rocket ship, don't worry whether they are statisticians or their influence is the most important thin…”
Narayanan: Employees leave when any of four job satisfaction pillars fail
“It's for four, four different reasons. One is they love what they do. Number two, they love the people they work with. Number three, they Feel like they can learn from the people that they work with and for the company is going up into the right. If one of the…”
PIPs Fail Because Conflict-Averse Managers Initiate Them Three Months Too Late
“I think when you put up someone on a performance plan, it's three months too late. It's three months before you should have intervened and tried to do the right thing. What happens most of the times is that people put them on the improvement plan when they've …”
Trusted Referrals Are the Only Hiring Method That Actually Works
“Hiring is a terrible process. I mean, I know you ask a ton of questions of what do you look for? What do you look for? And I know that honestly, I can say all I want, It's useless. At the end of it, you, it's easiest when they work with you or you ask referral…”
Narayanan: Do not hire engineers without high-impact work assigned to them
“So every new engineer that comes in and will have to contribute so much. Otherwise, if you can't find something that they can do that can be of that type of impact, don't hire.”
Narayanan: Growth is scaling product-market fit via a North Star metric
“I just think of growth is is basically about Identifying methods, approaches that scale product market fit in a scalable way. The way you do that is by identifying a north star metric and moving that metric.”
Facebook's Advertiser Growth Team Targeted Headcount Over Direct Revenue
“For example, I'll take the example of Advertiser Growth. In Advertiser Growth that Facebook in the advertisers, we decided not to move The revenue metric, but decided to move the advertiser growth metric, because that's a metric that we actually could tangibly…”
Narayanan: Quantitative data alone cannot validate most product hypotheses
“You can't do it through just data. You need to do it through essentially user experience research.”
Narayanan: Product-market fit, unit economics, and scaling are four separate steps
“I mean, product market fit, scaling product market fit, unit economics, scaling unit economics. I think those are all four different steps in my opinion. So I actually think that it is, ah, you can get to product market fit, but you may not be able to scale it…”
Narayanan: Startup's first growth hire must be a senior team-builder
“If you had to hire only one person, it'd probably be someone who's relatively senior who can hire everyone else. Or be part of the team, and so that you can actually get a team that can actually work and move a metric.”
Facebook's Chris Cox Required Storytelling, Not Raw Data, to Be Influenced
“For example, Harvey, you go to try to influence Harvey. You just throw the data. Don't give me anything other than just data. Just tell me the data. Don't tell me the story. You got a Chris Cox. Don't just throw data at me. Tell me the story, please.”
Narayanan: Evaluate job candidates as skill profiles with distinct peaks
“I don't think about a person as a person. I think of them as a body of skills. So what that basically means that are they Peaking in one or two or three different things and not a liability in the others.”
Narayanan: Core data analysis requires only indexing and asking 'so what?'
“I'd also say that in terms of analytics itself, there are literally only two things you need to do. One is indexing. Which is you want to see if things are unindexed or overindexed in anything you're comparing and benchmarking. And the second thing is asking t…”
Narayanan: Asking 'so what?' separates top data leaders from average analysts
“And what I've realized was the difference between good analytical people and the, who can be good at insights, but the ones that can, that are good at actionable insight, the muscle is really the so what question. It's not the analysis. They can be great at co…”
Narayanan: Prioritizing current achievement over growth rate was my biggest hiring mistake
“Early on, the big mistakes that I used to make, and I make less of it now, I think I'd probably still make them, is I think about slope and asymptote. Asymptote is how good are you? Slope is how fast are you growing? And so what I would hire more for is People…”
Sequoia Classified All Portfolio Companies Into Eight Distinct Formulas
“What all the companies at Sequoia, for example, we can classify for the types of companies phase Sequoia had was eight different types of companies, e-commerce, two sided marketplaces you know, consumer subscription, consumer ads, and SaaS obviously, and so on…”
Narayanan: Most large data analytics problems can be reduced to small data problems
“I always have believed every large data problem can be, can actually be brought down to a small data problem. Every large data problem can be brought down to a small, I'm being extreme here. Obviously nothing in Gen AI is like that, but in terms of analytics, …”
Narayanan: Employee underperformance stems from skill, knowledge, or culture gaps
“Three things I look for. One is I think you look at Skill gap, knowledge gap, and value slash culture gap.”
Narayanan: Underperforming employees often thrive when shifted to the right role
“And I've done often many, many times. I've found that the reason why they're not doing well is because they're not in the right. They're not on the right team or not in the right role or in the right thing. And you just need to shift them. And then suddenly th…”
Narayanan: Executive Performance Falls Into Three Stage-Based Categories
“I think of it as from an exec perspective, I think there are three types of execs. People who know how to take companies from bad to okay. And people who know how to go from okay to good. And there are people who are good at going from good to great.”
Narayanan: Growth teams must use counter metrics to balance competing goals
“One of the things that we don't do enough is counter metrics, and I think I saw that at PayPal and at Facebook, where you would grow a metric like at PayPal, for example, there were two teams. One was growing revenue, and then one was actually stopping revenue…”
Mark Zuckerberg Wrote Facebook's S-1 in One Sitting on a Phone
“I mean, I think he wrote his S one in one sitting on a mobile phone.”
Sequoia Circulates Investment Memos Friday for Monday Partner Meetings
“If you have a Monday morning meeting, they circulate the entire memo on a Friday. And when people go into that room and make a collective decision, They go with a prepared mind, which basically means you better have read your memo. You come in knowing everythi…”
Facebook's Early Growth Marketing Team Operated With Only 6 to 8 People
“And it was like a seven people team or a six people team. And I would think like, how can six or seven or eight people have such enormous output?”
Narayanan: Facebook chose MAU as North Star to match its mission
“For example, at Facebook at that time that we were there, it was like making the world open and connected. So naturally was you wanted to get everyone in the world on it. So it just naturally meant that you wanted to get the largest number of people to use a p…”
Severe Winter Weather Directly Increases US Facebook Time Spent
“We found that there's certain parts of America which had an increase in time spent, and we didn't know what happened. And we kept looking and said, what is all this? And we kept digging deep, and it ended up being winter. Very cold winters. People stay in at h…”