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."

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