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In choosing who to date, what job to pursue, or how to invest our money, most people are just looking for a reason to move forward. But according to Professor Ilya Strebulaev, we should be looking for something else: a reason to bail.
"The smartest venture capitalists ask a very different question from what most of us ask," says Strebulaev. Instead of asking “‘Why should we invest?’, venture capitalists approach every new opportunity with [the] question: Why should we not proceed?” This contrarian mindset is at the heart of Strebulaev's new book The Venture Mindset, which reveals how the strategies of top VCs can help anyone make sharper decisions.
In this episode of Think Fast, Talk Smart, Strebulaev joins host Matt Abrahams to discuss how the venture mindset can help anyone — investor or not — weigh alternatives, make decisions, and move forward without looking back.
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Chapters:
(00:00:00) Introduction
Host Matt Abrahams introduces guest Ilya Strebulaev, founder of the GSB's Venture Capital Initiative and professor at Stanford Graduate School of Business.
(00:00:53) The Venture Mindset
Insights into the venture mindset as a new mental model for making smarter, quicker decisions.
(00:02:22) Embracing Failure
How venture capitalists embrace and learn from failure to achieve success.
(00:05:21) Decision-Making in Venture Capital
A unique approach to decision making based on what successful venture capitalists do.
(00:07:34) Applying Venture Principles in Personal and Professional Life
Venture mindset principles that can help individuals in job transitions and personal growth.
(00:10:05) Lessons from Teaching Venture Capital
Ilya outlines key takeaways he hopes his students learn from his class, including thinking differently and networking effectively.
(00:13:25) Passionate Communication
Using descriptive language to engage others, including mixing familiar terms with unique ones to enhance communication about passions
(00:15:29) The Final Three Questions
Ilya shares how he has grown from writing his book, a communicator he admires, and three ingredients for successful communication.
(00:18:59) Conclusion
