Stanford Professor Ilya Strebulaev shares insights from his book on venture capitalists' decision-making process. They discuss strategic investments, red flags, and the importance of diversified decision-making in VC firms.
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Quick takeaways
The venture mindset values 'home runs' in investments over 'strikeouts', leading to extraordinary growth.
Saying 'no' 100 times before pursuing an investment helps streamline decision-making and identify red flags efficiently.
Deep dives
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The Venture Mindset Principles for Investment Success
The venture mindset emphasizes the significance of 'home runs' in investment success, rather than focusing on 'strikeouts.' This mindset thrives in an uncertain and innovative landscape, where VCs have excelled for over 50 years. The venture mindset has played a pivotal role in the success of major companies like Apple, Netflix, and Airbnb. By applying the principles of the venture mindset, decision-makers can navigate unpredictable environments and achieve extraordinary growth.
Adopting the 'Say No 100 Times' Approach in Decision-Making
A key principle in the venture mindset is the 'Say No 100 Times' approach, emphasizing the importance of being selective in decision-making. Venture capitalists say 'no' more than 100 times for each investment they pursue, ensuring a rigorous due diligence process. By utilizing the fast-lane approach at the beginning of the decision-making process and the slow-lane approach at the end, VCs streamline their evaluations and identify red flags efficiently. This approach can be beneficial for decision-makers in various fields, encouraging a thoughtful and strategic decision-making process.
Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF. Stanford Professor Ilya Strebulaev discusses his book The Venture Mindset: How to Make Smarter Bets and Achieve Extraordinary Growth. Hosts: Carol Massar and Tim Stenovec. Producer: Paul Brennan.