Being Nice vs. Being Effective

Episode #218: David Hornik - Why Givers Win

Show Notes:

• Sustained Excellence:
  • Great story-tellers -- Every message is better told as a story
  • Great sales people
• Why generous people win in the long run -- David is naturally generous
• He answers every email
• VC's invest in people more than investing in a product
• The story of Danny Shader and their daughters' soccer team
  • The many conversations which led to working together after Danny initially turned David down because he thought he was "too nice" -- Why he was wrong
• The aspect of the job that David doesn't like -- Narcissistic people - "You don't have to be that way"
• "In the long run, doing the things you like, with the people you like, will be better"
• What percentage of your job do you love? -- "North of 80% of it. I've been doing this for 17 years. You have to do it with people you enjoy. If not, it's terrible."
• Do you have a boss? -- "Not really"
• How to handle a bad loss? -- "We lost $35m at one point. A lot of sleepless nights. It was very hard. This business is not all about succeeding."
• Why doesn't David use hard end dates on his term sheets like all other VC's? "Investing is a big decision."
• How to differentiate from other VC's?
  • Money is all the same, does not differentiate
  • "It's about help, guidance. I tell them to speak with every person I've ever worked with. Ask them what they think."
  • "I genuinely care about people I work with"
• "The Lobby" -- David's annual conference -- "The best values from conferences are the relationships with other attendees."
  • Do work outside at a table in Hawaii -- It promotes better work
  • Best advice for hosting and event? "Maniacally curate the guest list. It has to be full of givers. If takers are there, it won't work."
  • Start the conference with a fun game
  • Do NOT gather in conference rooms (Hence the name "The Lobby") - The best conversations happen during the breaks in the lobby
  • Goal is to break even on the event. The budget is more than $1m -- Get sponsors, the guests all pay
• "The goal in life is to have a good time... To have a good life. What's the point otherwise?"
• "My goal is to surround myself with great people and enjoy my life. See what's out there if you don't like what you're doing."
• Making a lot of money... Impact? "If I make more, I can give more away."