Reid Hoffman on First-time Founder’s Common Mistakes

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First-time founders often fail to iterate quickly based on customer feedback, missing the key to finding product market fit and achieving sustainable growth. It is a major failure point to overestimate the perfection of one's vision over gathering data. Founders should seek disproving data for their investment thesis by asking for feedback and suggestions, even if most inputs may be irrelevant or wrong. Recognizing patterns in feedback helps in adapting and adjusting the product even before its launch.

Reid Hoffman has been one of the most impactful people in technology over the last two decades. He is the Co-Founder of Linkedin (acq by Microsoft for $26BN) and Co-Founder of Inflection.ai. As an investor, Reid has backed the likes of Facebook, Airbnb, Zynga and more. Reid is also a Board Member @ Microsoft and was on the board of OpenAI.

In Today's Show with Reid Hoffman We Discuss:

1. Foundation Models: Commoditisation, Business Models, Incumbents:

Does Reid believe we are seeing the commoditization of foundation models?
Is it too late for new foundation models to be born today? Are they VC backable?
How will foundation models eventually make money? What will be the sustainable business model?
Does Reid believe that foundation models will be acquired by large cloud providers? Who goes first?

2. Inflection & Microsoft: What Went Down:

How did the Microsoft and Inflection deal go down? Did Satya call up one day and make it happen?
With the decay rate of models, Microsoft did not do it for the models, so why did they do it?
Was Inflection a sustainable business in it's own right?
Does this not prove that to win at this game, you have to be an incumbent with incumbent cash?

3. OpenAI: Board, Lessons and Management:

What are 1-2 of Reid's biggest lessons from being on the OpenAI board with Sam?
Why did Sam ask Reid in front of the whole company if Reid would fire him if he did not perform?
Scarlett Johannsen, super alignment team quitting, NDAs tied to equity, this is a lot in a short amount of time, how does Reid analyse this?

4. Trump is the Biggest Threat to Democracy: What Lies Ahead?

Why does Reid believe that Trump is a threat to democracy and evil?
What were Reid's biggest takeaways from a two hour lunch with Joe Biden?
How does a Trump administration change the world of AI, technology and startups?

5. The Future of TikTok:

Is TikTok a threat to US democracy? Should it be banned?
What will be the outcome of the current judicial process? Will they sell to a US entity?
How could Trump impact the future of TikTok in the US?

6. Reid Hoffman: AMA:

What are Peter Thiel's biggest strengths and weaknesses?
I believe Mark Zuckerberg is one of the most unappreciated public market CEOs, what are the core components that Reid believes makes Mark so special?
How did Reid miss out on investing in SpaceX's first round? What did he not see that he should have seen?
What do we think is crazy today but will be a no brainer and very normal in 10 years?