The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

20VC: Keith Rabois and Mike Shebat on Creating an Olympian Mindset to Work Ethic, Why First-Time Founders are Better Than Serial Entrepreneurs, Why Remote Work Does Not Work, Why the Best Founders Always Start in their Teens & Why Companies are Cults?

Nov 27, 2023

Keith Rabois, a General Partner at Founders Fund, and Mike Shebat, CEO of Traba, dive into the unique mindset of successful founders. They explore why first-time founders often outshine veterans and the drawbacks of remote work. Rabois passionately advocates for an 'Olympian work ethic,' drawing parallels between startups and athletes' dedication. Insights on hiring the right fit for a high-performance culture and maintaining ambition in company growth are also shared, emphasizing that great companies thrive on shared values and commitment.

57:25

Creator website

Episode guests

Mike Shebat

Keith Rabois

AI Summary

Highlights

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Developing a strong work ethic in your 20s is crucial for laying the foundations of a successful career.

Creating a unique and cult-like company culture is essential for fostering a dedicated and committed team.

First-time founders tend to be better due to their ambitious mindset and lack of preconceived notions, but seeking guidance from experienced investors is important for navigating blind spots.

Deep dives

Importance of Building a Strong Work Ethic in Your 20s

The podcast episode emphasizes the significance of developing a strong work ethic in your 20s. Successful individuals often lay the foundations of their career during this period. The speaker highlights that many of the best people he has worked with were interns. First-time founders are also seen as better due to their ambitious mindset and lack of preconceived notions. It is essential to prioritize hard work and dedication as they can significantly impact your chances of success.

Reflections on Prioritizing High Leverage Activities

00:54

Olympian Work Ethic

03:40

Quick Fire Answers on CEO Role, Interest Rates, Optimism, and Competition

01:13

Some people are attracted to a hard work culture

01:45

Intro

4min

Building a Culture of Ambition and Dedication in the Labor Marketplace

2min

The Olympian Work Ethic

19min

Cultivating Company Culture Through Growth

20min

Navigating Startup Dynamics

7min

Navigating the Nuances of Investment and Founder Potential

2min

Vision for the Future and Essential Tools for Growth

4min

Keith Rabois is a General Partner @ Founders Fund, one of the world's best venture funds with a portfolio including the likes of Facebook, SpaceX, Anduril, Tesla and many more. For the last 23 years straight, Keith has either invested in or founded a $BN company. Keith is also the Co-Founder and CEO @ Openstore, the company that will buy or run your Shopify business.

Mike Shebat is the Founder and CEO @ Traba, the company providing industrial staffing when and where you need it. To date, Mike has raised $49M with Traba from some of the best including Founders Fund, General Catalyst and Khosla Ventures.

In Today's Episode We Discuss:

1. What it Takes to Build a Great:

Why does Mike expect everyone to work in office 12 hours per day, 4 days per week?
At what point does an extra hour of work not lead to more output?
What are the expectations in terms of emails, out of office, the weekends?
Keith, from the 23 BN companies you have worked with, is this insane work ethic aligned to all of them? Which had it? What did not?
What core components of PayPal's work ethic made it so strong? What does Keith mean when he says Linkedin could and should have been 5x bigger?

2. The Hiring Process for the Swat Team:

What does the hiring process look like for this type of work environment?
What are the signs that someone is really aligned to it vs faking it for the interview process?
What have been Keith's biggest lessons on both compensation and title in the hiring process?
Why does Keith believe that culture is like concrete? What are the biggest mistakes he has made on culture and what would he have done differently?

3. First-Time Founders, Innate Entrepreneurs & Europe's Failing:

Does Keith agree the best founders always show signs of early entrepreneurship in their teens?
Why does Keith prefer first-time founders to serial entrepreneurs? Why are they better?
Why does Keith believe that Europe has not created a $100BN company since 1990?

4. Remote Work, Network Effects and Baseball:

Why does Keith believe being great in venture is like baseball?
Why does Keith and Founders Fund not invest in remote teams? How does he explain Gitlab?
Why does Keith believe Airbnb has the best network effect he has ever seen?

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

20VC: Keith Rabois and Mike Shebat on Creating an Olympian Mindset to Work Ethic, Why First-Time Founders are Better Than Serial Entrepreneurs, Why Remote Work Does Not Work, Why the Best Founders Always Start in their Teens & Why Companies are Cults?

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Importance of Building a Strong Work Ethic in Your 20s

The Importance of Cult-Like Company Cultures

First-Time Founders and the Power of Ambition

The Importance of Company Culture and Hiring the Right People

The Value of Being Unapologetic and Putting in the Work

Reflections on Prioritizing High Leverage Activities

Olympian Work Ethic

Quick Fire Answers on CEO Role, Interest Rates, Optimism, and Competition

Some people are attracted to a hard work culture

Get the Snipd
podcast app

AI-powered
podcast player

Discover
highlights

Save any
moment

Share
& Export

AI-powered
podcast player

Discover
highlights

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

20VC: Keith Rabois and Mike Shebat on Creating an Olympian Mindset to Work Ethic, Why First-Time Founders are Better Than Serial Entrepreneurs, Why Remote Work Does Not Work, Why the Best Founders Always Start in their Teens & Why Companies are Cults?

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Importance of Building a Strong Work Ethic in Your 20s

The Importance of Cult-Like Company Cultures

First-Time Founders and the Power of Ambition

The Importance of Company Culture and Hiring the Right People

The Value of Being Unapologetic and Putting in the Work

Reflections on Prioritizing High Leverage Activities

Olympian Work Ethic

Quick Fire Answers on CEO Role, Interest Rates, Optimism, and Competition

Some people are attracted to a hard work culture

Get the Snipdpodcast app

AI-poweredpodcast player

Discoverhighlights

Save anymoment

Share& Export

AI-poweredpodcast player

Discoverhighlights

Get the Snipd
podcast app

AI-powered
podcast player

Discover
highlights

Save any
moment

Share
& Export

AI-powered
podcast player

Discover
highlights