Speaker 1
Well, from a venture capitalist point of view, what are they doing? They are trying to find a small new company that they think is going to produce a product that is just going to become absolutely massive. And they also want it to move incredibly quickly. So it beats everyone else. First to market dominates. So that tends to agitate towards wanting a team that is very small so that it can iterate quickly and also a team that can sort of do everything, you know, soup to nuts, the whole stack. When I was talking to Mark Andreessen, who really believes in 10x, he says it might even be a thousand x, right? He says, you know, look at these really big pioneering pieces of software that change the arc of their entire industry, you know, Photoshop, Doom and Quake, the original video games, the original Netscape team, Microsoft basic, right? You know, very often you're talking about two to like three or four people. And he goes, that's because there's a type of magic that those highly productive people can do when everyone else just gets out of the way and they can build that crystal palace in their mind. So that's why venture capitalists really love it because there's a reality and there's also a great myth that makes for a really good story too, right? Because they have to take this dog and pony show and sell it to other investors. And it's really mythologically and narratively great to be able to say, here is the brilliant software king who did all this. You know, here is Max Levchin, who single-handedly coded PayPal into existence, which he really did, right? You know, like he actually created that prototype. He had spent years and years banging away on mobile software and crypto and payment software. And so he just, he just willed that into existence by himself, the first prototype. So the stories really do exist, but they're enormously marketable and mythic for a venture capitalist.