The Danny Miranda Podcast

#403: Keith Rabois – Advice For People In Their 20s (From A Silicon Valley Legend)

Sep 15, 2023

45:53

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Keith Rabois, a Silicon Valley legend known for his early-stage startup investments, shares valuable advice for people in their 20s. The podcast covers Margaret Thatcher's influence, spotting talent, breakthrough areas, the upside of stress, and commonalities amongst successful people. They also discuss the challenges encountered during the IPO process, leveraging laws and regulations for growth, learning from mistakes, and the value of playing soccer in Silicon Valley.

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Quick takeaways

Margaret Thatcher's principled execution serves as a role model for independent thought and navigating a hostile world.

Spotting talented individuals and recognizing outliers are crucial for success in business, as they possess extraordinary qualities.

Deep dives

Admiration for Margaret Thatcher's principled execution and societal impact

Keith expresses his admiration for Margaret Thatcher, noting her principled execution and impact on society. He highlights her ability to apply principles to change society and describes her as a role model for independent thought and the ability to navigate a hostile world.

Meeting Peter Thiel and the Importance of Surrounding Yourself with Talented People

01:01

The Importance of Anomaly Data in the History of PayPal

00:33

The Relationship Between Bravado and Action

00:56

Introduction

2min

Encountering the Divine, Role Models, and the Power of Saying 'No'

2min

Meeting Talented People and Making Connections

14min

Dealing with a Licensing Issue During the IPO Process

3min

Leveraging Laws and Regulations for Growth

15min

Learning from Mistakes and Painful Investment Regrets

2min

The Value of Playing Soccer and Connecting with Others in Silicon Valley

2min

Success, Humility, and Confidence

6min

Keith Rabois is widely known for his early-stage startup investments and his executive roles at PayPal, LinkedIn, Slide, and Square. Additionally, Rabois has been involved in investments in YouTube, Palantir, Lyft, Airbnb, Eventbrite, Wish, and The Org. He currently serves as the CEO of Open Store and the General Partner at Founders Fund.

0:00 Intro

0:32 Margaret Thatcher’s Influence

4:21 Peter Thiel

6:09 Spotting Talent

10:02 Looking For Anomalous Data

12:27 5-Year-Old Keith

13:43 Wasting Decade With Law

17:36 First Year At PayPal Learnings

21:39 Too Big To Fail

25:26 Breakthrough Areas

26:46 The Upside Of Stress

29:41 What Makes For A Great Leader?

31:22 Absorb Someone’s Brain

35:12 Most Of Success Is Common Sense

35:48 Keith’s Biggest Mistakes

40:15 Commonalities Amongst Successful People

45:34 Challenge

The Upside of Stress: Why Stress Is Good for You, and How to Get Good at It by Kelly McGonigal – https://www.amazon.com/Upside-Stress-Why-Good-You/dp/1101982934

Keith's Links

Twitter: https://twitter.com/rabois

LinkedIn: https://www.linkedin.com/in/keith

My Links

🎙 Podcast: https://anchor.fm/dannymiranda

🎥 YouTube: https://youtube.com/dannymiranda

🐣 Twitter: https://twitter.com/heydannymiranda

📸 Instagram: https://instagram.com/heydannymiranda