The Ledger, every show

“There's 1400 employees. There should be like more like 200 or 300 max”

“I refuse to allow colleagues of mine to talk to customers.”

“When you give people feedback negative individually, you're optimizing for the atomic unit, not the system. The reason why to do it in public is it's more important for all the colleagues to understand that there's an issue it's being addressed.”

“No, no, I don't believe in that at all. Like high performance machines don't have psychological safety. They're about winning.”

“I think he has Trump derangement syndrome. He just hates Trump. That's why he artificially lowered rates to try to get Kamala elected. It is indefensible cutting 50 basis points off in, you know, last fall.”

“I think ChatGBT becomes a monopoly. It's the fastest growing consumer product of all time. It is transforming how everybody, every normal person basically does their work, runs their life. And so that product alone is a several trillion dollar company.”

“She published a paper that was false. Like, her whole claim to fame is this paper about Amazon. And the data in the Amazon, the data she used in the paper at Yale was false.”

“There hasn't been a hundred billion dollar European company created since 1990.”

“Yeah, we didn't have an Olympic work ethic. We had a bunch of French engineers that wanted to work 35 hours a week. At the time, In 2003 to five, when the company was really founded, most people thought the internet was dead, so we didn't, Reid Hoffman, who fo…”

“And I now believe Silicon Valley is a disadvantage not even neutral, it's an actual disadvantage.”

“Like one of the reasons why, you know, sometimes it's controversial to say this, but one of the reasons why the net impact of by higher undiscovered talent is you wind up skewing younger. It's not because you need young people. It's that younger people have by…”

“Well, I saw this podcast, or listen to this podcast that Peter Fenn did, and he convinced me that the idea of a PM makes no sense, basically, in the future. If you think about decomposing the logic, is what does a PM usually do? They take these inputs from cus…”

“Customers don't know what They want, and they're very bad because it's a subconscious decision, especially for consumers. Like what I purchased, what I wear is not a conscious decision. And when you're consciously trying to answer a subconscious decision, you …”

“I don't want to deter people from taking ambitious shots on goal. And if you overemphasize failures and, you know, really people think they're going to get criticized. This is where the psychological safety maybe has some validity, which is be ambitious, be bo…”

“You're gonna see lots of countries You know, make peace explicitly with Israel, which is great. Whether they join the Abraham Accords directly or indirectly, it's all gonna happen in the next six months.”

“We're gonna have four percent or more growth all of next year. That will make the debt irrelevant. You can grow your way out of deficits.”

“I actually believe you could probably cut 50% of the federal government ex-military easily.”

“Well, I think you can run four to six percent durably without inflation, which is magic.”

“But ChatGBT alone, there is no competition for. It's not like Anthropic or all these other companies have any competition for that.”

“Do people draft documents in Word in three, four, five years? Probably not.”

“Promoted this completely mediocre CFO, which is almost always a bad idea, to be CEO. And she went from mediocre to, like, the worst CEO in the planet.”

“So I think if you're going to reinvent an industry, you don't want experts.”

“Every successful company is a cult. And what a cult really means is you have a view about the world that's different than other normal people. And you're right to be successful. Like a cult doesn't have to be right, but the startup is a cult. That's right. And…”

“Instead of using a real estate agent, there's no reason they can't use ChatGPT or an equivalent product.”

“The truth is, I think there's a very short half-life on human label data. And so everybody who's investing in these companies just to get revenue traction really didn't understand that there may be a year, two years, Three years max when anybody uses human lab…”

“I think Google's also, Google search, cross-search, is toast. And since they have Chrome and they theoretically have a quality team in Gemini, they should be putting these two things together and hoping to compete with Chad GPT. They're going to lose the searc…”

“Every single educational stat has got worse in the United States since the department was created.”

“Well, spicy is that look, Chinese are ahead of us and it's very dangerous politically, geopolitically.”

“I would be shocked if this administration doesn't figure out a way to ban Chinese robots before it's too late.”

“If I meet a founder and there's a keynote deck, there's no product, there's no metrics, that's my sweet spot. Because I also know nobody else in venture is good at that. Nobody else is still active in venture.”

“I always mentioned that I don't like people with expertise typically as founders.”

“There are people in China monitoring what certain people in the United States are doing, and the CEO lied under oath to congressional committees about this, and the evidence is now in the public domain.”

“I think we just finished a board meeting where it's pretty clear that this is the best run private company on the planet.”

“Ramp is absolutely going to be the winner. Probably will be two, three, four, five, 10 times more valuable.”

“Chasing momentum, not really understanding fundamental company building, thinking spreadsheets dictate results, like, you know, not understanding the inputs versus the outputs, that these companies are built by people, not by math. At the end of the day, still…”

“You know, as you've probably seen on Twitter, I don't even believe he's gonna be the Republican nominee for president.”

“I'm going to get, I believe that most companies, you know, and I have a chapter in Eli Gill's high growth handbook on the topic in a fairly lengthy core answer as well on, I believe most companies are better Off going public early period.”

“LinkedIn by any measure was Yeah, pretty successful. Certainly impact, you know, acquisition, twenty four billion or so. Truthfully, probably hit somewhere between five and 20% of its, you know, potential because it didn't do some of these things. Like, I, in …”

“I think first time founders are actually better on average. Most of the best companies I've invested in are first time founders, not all.”

“If you have a monopoly, for example, Google has this 20%, you know, side project bullshit where they used to. If you have a monopoly business with 99% gross margins or 90% margins, maybe letting your employees waste time once in a while maybe isn't catastrophi…”

“We at Founders Fund have pretty much put a light in the sand that we won't invest in remote companies because we've just watched 50 years that there's almost no examples of people building companies that way.”

“I really want to invest in only companies that are in person. So I think there's a lot of alpha there. I think in-person companies will be the successful startups. I only want to find founders who are working in person and that's my new investment filter.”

“There's probably only five to 10 VCs that actually add value at scale.”

“The skill set required to invest at seed is utterly different, different and probably completely incompatible with the idea of being a good growth or public market investor. The reason why is at the end of the day, Seed companies have no financial metrics.”

“But the government, if the U.S. Congress is turned over, there's gonna be a lot of subpoenas flying over to Twitter, because there are absolutely foreign governments influencing some of those decisions at Twitter.”

“It's actually more permissive than any European country. But nobody knows that. France actually only allows abortion up to 14 weeks. Germany is like 16. So we're 20 here, so we're more liberal than Europe.”

“And if Tiger thinks that they're going to be successful Series A investors, they're in for a very rude awakening.”

“I think you can learn from failure what not to do again, and that's probably worth learning, like repeating the same mistakes makes no sense, but you can't learn how to be successful just by avoiding mistakes. The way you learn how to be successful is just You…”