"Turpentine VC" | Venture Capital and Investing

E55: Keith Rabois, Logan Bartlett, Kevin Ryan, and Zach Weinberg Dissect the Current Funding Climate

8 snips

Sep 10, 2024

Guest

Join venture capital heavyweights Keith Rabois, known for his keen insights into startup dynamics, Logan Bartlett from Redpoint, AlleyCorp's Kevin Ryan, and biotech investor Zach Weinberg as they delve into the evolving funding landscape. They dissect Paul Graham's Founder Mode, reveal how AI is reshaping valuations, and share candid takes on the challenges faced by leaders in tech. With a mix of humor and critical analysis, they discuss the implications of political strategies and tech controversies, all while unpacking the current state of venture capital.

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ANECDOTE

Chesky's Radical Changes

Brian Chesky summoned Keith Rabois to his house in December.
Chesky told Rabois about radical changes he was going to make to Airbnb's processes.

INSIGHT

CEO Responsibility and Task Relevant Maturity

The CEO is ultimately responsible for everything in a company.
Delegate tasks based on the "task relevant maturity" of team members.

INSIGHT

Survivorship Bias in Founder-Led Companies

Airbnb's stock price is lower than it was three years ago.
There's survivorship bias in claims that founder-led companies perform better.

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The Innovator's Dilemma

When New Technologies Cause Great Firms to Fail

Clayton M. Christensen

In this influential business book, Clayton Christensen shows how even the most outstanding companies can lose market leadership when they fail to adapt to disruptive innovations. Christensen explains why companies often miss new waves of innovation and provides a set of rules for capitalizing on disruptive technologies. The book uses examples from various industries, including the disk drive, mechanical excavator, steel, and computer industries, to illustrate trends that lead to success or failure in the face of disruptive technologies.

Engines That Move Markets

None

Alistair Nairn

The Last Days of Night

Ina Friedman

The success equation

Untangling Skill and Luck in Business, Sports, and Investing

Michael Mauboussin

In this book, Michael Mauboussin helps readers understand the interplay between skill and luck in achieving successes and failures. He provides a framework to analyze the relative importance of skill and luck, offering concrete suggestions for applying these insights to improve decision-making. The book covers various concepts such as the continuum of activities from pure luck to pure skill, the importance of sample size, and the use of tools like checklists to enhance performance. Mauboussin draws on examples from sports, business, and investing to illustrate his points, making the book a valuable resource for anyone seeking to make better decisions in both professional and personal life.

Dark Wire

The Incredible True Story of the Largest Sting Operation Ever

Joseph Cox

Dark Wire recounts the story of Anom, a secure communications app secretly run by the FBI, which allowed law enforcement to monitor tens of thousands of criminals worldwide, including members of drug cartels, the mafia, and other organized crime groups. The book reveals the intricate details of this global sting operation, highlighting the technological and ethical complexities involved. It follows the agents and criminals as they navigate this high-stakes game, ultimately leading to a massive international crackdown on criminal activities.

1984

None

George Orwell

Published in 1949, '1984' is a cautionary tale by George Orwell that explores the dangers of totalitarianism. The novel is set in a dystopian future where the world is divided into three super-states, with the protagonist Winston Smith living in Oceania, ruled by the mysterious and omnipotent leader Big Brother. Winston works at the Ministry of Truth, where he rewrites historical records to conform to the Party's ever-changing narrative. He begins an illicit love affair with Julia and starts to rebel against the Party, but they are eventually caught and subjected to brutal torture and indoctrination. The novel highlights themes of government surveillance, manipulation of language and history, and the suppression of individual freedom and independent thought.

High Output Management

Andrew S. Grove

High Output Management is a seminal book by Andrew S. Grove that outlines his management and productivity concepts developed during his tenure at Intel. The book introduces the 'management by objectives' approach, also known as the objectives and key results (OKR) framework. It covers techniques for creating highly productive teams, methods of motivation, and the importance of measurable processes, performance reviews, and training. Grove emphasizes the role of managers in leading and motivating teams, and his book is praised for its practical advice and timeless relevance in various professions and industries.

This week we’re dropping the first episode of Logan Bartlett, Keith Rabois, Kevin Ryan, and Zach Weinberg's newest podcast This Won’t Last. The show is an unfiltered backchannel where they unpack the hype cycles in venture, startup culture, and business.

In this episode they discuss Paul Graham’s Founder Mode, AI valuations, the state of the venture market, and free speech concerns with Telegram and TikTok.

Apply to join over 400 founders and Execs in the Turpentine Network: https://www.turpentinenetwork.co/

RECOMMENDED PODCAST: This Won't Last

Eavesdrop on Keith Rabois, Kevin Ryan, Logan Bartlett, and Zach Weinberg's monthly backchannel. They unpack their hottest takes on the future of tech, business, venture, investing, and politics.

Apple Podcasts: https://podcasts.apple.com/id1765665937

Spotify: https://open.spotify.com/show/2HwSNeVLL1MXy0RjFPyOSz

YouTube: https://www.youtube.com/@ThisWontLastpodcast