Naval Ravikant

Naval Ravikant

CEO and co-founder of AngelList. Investor in Twitter, Uber, Product Hunt and other great startups.

THIS CHAT HAPPENED ON September 10, 2015

Discussion

I am the CEO and a co-founder of AngelList. I previously co-founded Epinions (which went public as part of Shopping.com) and Vast.com. I’m an active Angel investor, and have invested in dozens of companies, including Twitter, Uber, Yammer, Postmates, Wish, Thumbtack, and of course Product Hunt. I'm also fascinated by cryptocurrencies. Ask away!
Erik Torenberg
Erik Torenberg@eriktorenberg · Former Product Hunt
Hey Naval! You mentioned half-jokingly in the Tim Ferriss podcast something along the lines of "You don't need to find me, you need to find you" - where do you think this hero worship/need of validation from "successful" people comes from and how can we as a community quell it?
@eriktorenberg Humans are hardwired to listen to authority. We're tribal / hierarchical primates. Julian James makes the arguments that the first Gods were actually dead kings whose authority we still craved. And it's the nature of society that the people on top, either politicians or business leaders, want hero worship since it gives them power. I think it just helps to be very aware that fundamentally, there are no adults. Everyone is making it up as they go along. You have to find your own path, picking, choosing, taking and discarding as you see fit. I choose mostly to learn from books - those are my "authority figures" but even there I try to be very selective.
Brent Summers
Brent Summers@brentsum · Founder, Code-Free Startup
@naval this is gold.
OMAR Jalalzada
OMAR Jalalzada@omar___oj · Product Designer
@naval very well put. A well rounded perspective into a independent state of mind.
Paul Robert Cary
Paul Robert Cary@prcary · CEO, Findie | www.findie.me
@naval I find it fascinating that authority has a couple of key meanings. I have authority that can come from strength/manipulation/derived power, and/or I can be an authority on a given subject. To me the ideal leadership paradigm is one where authority over others is derived from being an authority in a non-religious sense.
Mayank Agarwal
Mayank Agarwal@mayank25may · Co-Founder @sendxio
@naval This is an amazing insight Naval. Thanks for being live.
Sudheendra
Sudheendra@webaficionado · Product Guy
Hey @naval, would love to know if not having a .com domain hurt AngelList in any way?
@webaficionado I think we'd be slightly better off with a good .com (and we have angellist.com now) but angel.co worked at the time. It didn't hamper us.
Ryan Hoover
Ryan Hoover@rrhoover · Founder, Product Hunt
Welcome, Naval! What product or app do you love the most (and define love however you'd like) that relatively few people know about or use?
@rrhoover Not sure anything is that unknown these days, especially given the existence of Product Hunt :-) I'm a big fan of Notational Velocity's search as you type function. Wish more apps would integrate that paradigm.
AJ
AJ@alanaut24 · Engitrepresigner
@naval Hi! Angelist is glorious. That is all. Thanks for building!
D 0'clock
D 0'clock@d0clock · RedHare
Kamil
Kamil@kamilszybalski · Growth Entrepreneur. Was @Hootsuitelabs
@naval Thanks for doing this. I'm wondering what your currently reading and what's on your bookshelf at home?
Kamil
Kamil@kamilszybalski · Growth Entrepreneur. Was @Hootsuitelabs
@naval Thanks for that Naval.
Lyle McKeany
Lyle McKeany@lylemckeany · growth marketer
I finished reading Sapiens: A Brief History of Humankind recently after hearing your glowing recommendation on Tim Ferriss' podcast. I was blown away by so much of it and it sounded like you were too. I've found myself looking at situations at home and work slightly differently now, or more orthogonally, perhaps ;). How has that book impacted your personal or working life? And are there any other books that have had a similar impact? Thanks!
@lylemckeany Another book I would put in the same league is "The Rational Optimist" by Matt Ridley. In fact, most of Ridley's books are of that caliber - Red Queen, Origins of Virtue, Genome, etc.. After Sapiens, I look at humans more as cooperating, story-telling monkeys that conquered the earth, and I realize more how much of society is just stories that we tell each other.
Lyle McKeany
Lyle McKeany@lylemckeany · growth marketer
@naval Thanks for the reading suggestion(s)! I totally agree about society being composed mostly of stories. I told my CEO a bit about the book and how we're essentially just trying to get a lot of other people to buy into the "story" of our company. It's an interesting perspective to have on it. I'm still trying to process the book and might have to re-read it at some point. Thanks for taking the time to answer!
Kai Gradert
Kai Gradert@kaigradert · Designer at AngelList/Product Hunt
@naval More like gossiping monkeys :)
Thanks everyone - my appointed hour is up. I appreciate your joining and I'm sorry that I couldn't get to every question. Peace.
Sam Houston
Sam Houston@samhouston · Senior Community Manager, Bugcrowd
@naval Hi Naval, thanks for doing this Live Chat. AngelList has brought some transparency to the startup recruiting and hiring process with the public listing of salary and equity ranges for open jobs. Have you seen this have an impact on the overall startup ecosystem and how it hires or fills roles, and if so, what is that impact?
@samhouston It has definitely had some impact, more sites and companies are doing it. The best outcome is that it lets us generate averages and data at https://angel.co/salaries . You'd be surprised how many companies hate it, though. It's controversial. In an ideal world, we could even value the stock but that's a very hard problem.
Brent Summers
Brent Summers@brentsum · Founder, Code-Free Startup
Hi Naval, thanks for coming by. I really enjoyed your recent interview with Tim Ferriss, in particular this quote jumped out at me: "If you want to be successful surround yourself with people that are more successful than you are, if you want to be happy surround yourself with people that are less successful than you are.” If you were just starting out again, what are the 1-2 steps you’d take to surround yourself with successful people?
@brentsum Figure out what you're good at and start helping other people with it, give it away. Pay it forward. Karma sort of works because people are very consistent. On a long enough timescale, you will attract what you project. But don't measure, your patience will run out if you are counting...
Brent Summers
Brent Summers@brentsum · Founder, Code-Free Startup
@naval Thanks for the thoughtful answer. What do you need help with? ;)
joanna
joanna@joannapantages · Founder, Scenester.tv
@naval you probably have to reject/say no alot.. yet you are extremely nice.. so what are your 1 or 2 best ways to say no?
@joannapantages I'm sorry, but this isn't a fit for me personally right now. Can I help in some other way? (Preferably via email).
joanna
joanna@joannapantages · Founder, Scenester.tv
@naval sorry, just was thinking there's probably an art and form behind the "no" and wondered what the fav or 'go to' might be for you (or anyone who probably does it a lot). all good-no answer needed!!
@joannapantages That's my generic turndown line that I pasted above :-) No one can argue with it...
joanna
joanna@joannapantages · Founder, Scenester.tv
@naval Ha I totally just fell for it! That was pure gangsta
- Kim Pham -
- Kim Pham -@kimpham404 · Growth Engineer
@naval What is something that most people don't know know about you? You have so much to be proud of, but what’s something you’re not proud of and what did you learn from it?
- Kim Pham -
- Kim Pham -@kimpham404 · Growth Engineer
@kimpham404 Ha, thanks for asking but at this point I feel like people know too much about me :-)
Sydney Liu
Sydney Liu@sydney_liu_sl · Co-Founder of Commaful.com
@naval Hi Naval! Thanks for doing the AMA! You say that your favorite founders are the ones you learn from. What are the most surprising things you’ve learned from founders you’ve advised that you think would benefit most early stage founders, companies, and products? Thanks! Sydney
@sydney_liu_sl The best founders are extremely thoughtful and have an eye for quality. I don't know if there's any generic advice here that would be helpful. Startup knowledge is a moving target. Rather, suggest you associate with and help the best founders you know. On a long enough timescale, it pays off.
D 0'clock
D 0'clock@d0clock · RedHare
@naval Gd morning Naval. Two questions wrt @angellist as an investing platform: (1) New Markets: Any intention to open @angellist to investors outside of US and Europe? (2) New Products: With crosshairs on institutional money (http://for.tn/1fV7Ruk), what are your thoughts on introducing cross-collateralized (hence, portfolio carry) fund-style investment products *directly* onto @angellist itself rather than offline via Maiden Lane (http://on.wsj.com/1EYGVG8)?
@d0clock Re: 1) Very complex - securities laws vary from country to country. We are trying. 2) We have funds at https://angel.co/funds . We can't do cross-collateralized since the syndicate leads underneath are paid separately and we like to have the ability to opt-out of deals. It's the quid-pro-quo of the opt-out capability.
D 0'clock
D 0'clock@d0clock · RedHare
@naval thanks for the reply. re: (2), sure - i respect the qpq. do you think though there is a potential product-market (esp. in insto money) fit for something that wld trade deal selection in return for paying portfolio instead of deal carry? re: (1), can i help? 😄
Hi @naval thanks for doing this live chat. I had two questions for you: 1) how do you see the SEC's new regulation A+ affecting startups raising funding on platforms such as AngelList? 2) what are your favorite books?
@alfink92 Reg A+ still requires a lot of money, lawyers and accountants. It's good for later stage companies, doesn't work for early stage. Favorite books? I put up a list on Product Hunt and there's one in my Tim Ferriss podcast as well. I have many :-)
D 0'clock
D 0'clock@d0clock · RedHare
@naval Forbes mentions you did “a brief and unsatisfactory stint in a VC firm” (http://onforb.es/1EY64AN) before you started angel investing. What part / aspect of that experience was unfulfilling?
@d0clock It's not for everyone. I'm more independent / entrepreneurial.
Adam Scavone
Adam Scavone@adamscavone · Lawyer, Scavone Law Firm
@naval Any advice on developing capacity for instinctual blunt honesty?
@adamscavone Tell everyone. Start now. It doesn't have to be blunt. Charisma is the ability to project confidence and love at the same time. It's almost always possible to be honest and positive.
Maurizio Wagenhaus
Maurizio Wagenhaus@m_wagenhaus · Professional procrastinator
@naval: In your opinion, how valuable are certificates gained at Massive Online Open Courses (MOOCs) like Coursera, Udacity, Udemy etc.? Are they of less value than university courses? Do you consider them in your hiring decisions?
@m_wagenhaus We are entering an age in which what you've done (your projects, products, blog, etc) matter far more than where you got your education or what certificate you have. If the MOOC will help you learn something, do something and build something, do it. If there are other, better ways for you to learn, use those instead. Don't focus on the credentials, focus on what you know.
Maurizio Wagenhaus
Maurizio Wagenhaus@m_wagenhaus · Professional procrastinator
@naval Thank you very much for the wise words, Sir!
Chandra Kalle
Chandra Kalle@chandrakalle · Maker @orangecaffeine.com
Would love to hear about one low point as an entrepreneur and how did you cope with it / get out of it?
@chandrakalle Every other day is a low point. They're everywhere. Comes with the territory. Entrepreneurship is really hard and painful, not sure I'd recommend it for anyone who can't handle the extreme stress. The coping mechanisms are the usual ones, unfortunately. The happiest entrepreneurs that I know seem to be able to treat it as a game. Unfortunately doesn't work for me.
rajeev lunkad
rajeev lunkad@rajeevlunkad · collaborator
@naval : heard you saying in a podcast: "in the future everyone will be working for themselves, you would get up in the morning and will see what assignments you have, what you want to do..." do you know of some companies that are already on that route for creating this environment in a comprehensive way? ... beyond the industry specific segmentation model like Uber or AirBnB or fiverr and many others?
@rajeevlunkad Not yet. But it's quite likely, I think.
rajeev lunkad
rajeev lunkad@rajeevlunkad · collaborator
@naval ... Wow that's a big-big opening... whats the best way to pitch to you?
Philip Tribe
Philip Tribe@ptribal · Co-founder, Designer
@rajeevlunkad What podcast?
Philip Tribe
Philip Tribe@ptribal · Co-founder, Designer
@rajeevlunkad thank you ;)
Laszlo Levente Mári
Laszlo Levente Mári@laszlolm · CEO @ Dakai - Blockchain Services
@naval What are the first things you look at when you examine a startup?
@noxowe Team, Product, Traction. I can usually assess a startup in 2-5 minutes flat if I have all of the info in front of me. At least well enough to know that I want to diligence the team / dig in or not.
Laszlo Levente Mári
Laszlo Levente Mári@laszlolm · CEO @ Dakai - Blockchain Services
@naval Thanks for the reply! But how do you know if the team if good enough or not? Maybe the product you are reviewing is their first job but they make a brilliant team together
Romain Barissat
Romain Barissat@romainbarissat · CEO @ Please
Hi @naval, in which space do you think is the next big thing?
@romainbarissat Don't know. I like Bitcoin / Blockchain technologies, but that ecosystem hasn't fully actualized yet.
Erik Larson
Erik Larson@erikrlars · Marketing
@naval In your interview with Tim Ferriss you mentioned that kids should be taught a specific set of skills. What are these skills and which do you consider most important?
@erikrlars Nutrition, health, relationships, speed reading, sales, public speaking, coding, logic, basic business skills, game theory, etc.
Jonathan Van
Jonathan Van@johnnyhvan
@naval Also statistics and the bias that come along with it. Skill vs. Luck continuum is a great concept as well.
Travel Chocolate LLC
Travel Chocolate LLC@travelchocolate · Travel Chocolate LLC
@naval Hi Naval, First, great Podcast with Tim Ferriss... Which resources (books, websites, etc) and methods would you recommend to learn about/get proficient at speed reading, and game theory? Thanks! John R.
Mike Lamentola
Mike Lamentola@mikelamentola · Media Producer / Wonder junkie
@naval I find myself in such a high demand niche with my work and project (over 3 years) that I am unable to narrow my focus any more. I have envisioned how I want to spend my days, who I want to work with, etc but Still have multiple plans/models written out unable to commit to just one. I feel this is where a co-founder or mastermind group comes in.. What would you recommend? Have you seen others struggle with this as well?
@mikelamentola That's ok, then you like the variety. Just position your life / work / career to embrace variety rather than fighting it.
Romain Barissat
Romain Barissat@romainbarissat · CEO @ Please
Hi @naval, you say you are interested in cryptocurrencies, what fascinates you the most? Is it more for the technical aspect and the idea of the blockchain and everything we could utilize it for? Or is it more for the financial aspect and the disruption it could bring?
@romainbarissat Points the path for decentralization. Anything centralized on the web today (identities on Facebook / Twitter, Domain Names via ICANN, App Stores, even AngelList etc) strike me as short-term abberations. Long term, identity, payments, databases, CPU, marketplaces, etc should be as decentralized as possible. Blockchains show the way.
Romain Barissat
Romain Barissat@romainbarissat · CEO @ Please
@naval thank you very much for your answers!
David Notik
David Notik@davenotik · Founder, Woven(.co)
@naval yes, yes, yes!
Kapil Kanugo
Kapil Kanugo@kapilkanugo · Founder
@naval what were your top struggles in your early days of Angellist?
@kapilkanugo Had them all and still have them :-) An entrepreneur's job is never done, you just take on new and bigger expectations and challenges.
Jonah Katz
Jonah Katz@jak1192 · Engineer, Camber Creative
Hello Naval, pleasure to get to ask you a question. You mentioned on Twitter that you think Rick and Morty is a good show. Do you think it's the best show currently on TV, or even of all time?
@jak1192 My favorite show on TV currently. Can't speak for other people's opinions...
Todd Goldberg
Todd Goldberg@toddg777 · 👀 crypto
Hey @naval - You've invested in quite a few "unicorns" before they became the big businesses they are today. What made these investment opportunities stand out versus the dozens of others you see everyday through your own deal flow and AngelList?
@toddg777 I invested in over a hundred companies and thought they were all going to be Unicorns. Imagine my disappointment...
Todd Goldberg
Todd Goldberg@toddg777 · 👀 crypto
@naval Thanks. [Edited: You already answered my follow-up question in another comment]
Emily Snowdon (née Hodgins)
Emily Snowdon (née Hodgins)@emilyjsnowdon · Operations @ Product Hunt
@Naval, Hi! Do you have any time to relax outside of working? Do you have any hobbies?
@ems_hodge Unfortunately not. Mostly just read when I have the time.
David Turner
David Turner@dturneresq · RSA Fellow
@naval Do you see any opportunities in an Uber style disruption of Air Travel?
@dturneresq Been tried but very hard to pull off - niche, high-end, over-regulated market.
Juan Antonio Karmy
Juan Antonio Karmy@jkarmy · Maker | Engineer | Musician
Hey @naval, thanks for the AMA! If you had to pick, which team attribute would you say is "more" key to the success of the startup company (especially at the beginning): Co-founder relationship/ability to keep going OR tech/industry competence ? Thanks!
@jkarmy Co-founder relationship. But it's so competitive, that it all matters. It's the startup olympics and you're competing against the best in the world in winner-take-all matches.
Austen Collins
Austen Collins@austencollins · Builds the Serverless Framework
Hi Naval, I'm a big fan :) Do you have any favorite economists? E.g., John Maynard Keynes or Ludwig Von Mises? Who do you respect most?
@austencollins More Mises than Keynes, that's for sure :-) Also Coase, Nash, etc.
Austen Collins
Austen Collins@austencollins · Builds the Serverless Framework
@naval Thought so :) Things you say make too much sense. Highly unusual...
jason
jason@jason · ceo, writer, event host & angel
Huge fan of AngelList here... wondering, how do you see any market correction impacting the syndicates program? I'm asking for a friend. :-)
Kate
Kate@katesegrin · Head of Social @ GitHub
@naval what is one moment in your life that you felt truly delighted?
@katesegrin When my wife walked up the aisle. I felt like I was getting away with something big.
V.S.VIVEK
V.S.VIVEK@vsvivek93 · Unoccupied
Hey Naval, So what do you look in the founding team before you make an investment? I mean what are your assessment channels? Thank you for taking your time and doing this.
@vsvivek93 Warren Buffet: "Intelligence, Energy, Integrity." Also, technical chops / understanding - this is the tech industry, after all.
Varun Deshpande
Varun Deshpande@varund7 · N/A
Hi @naval! Thanks for doing this. What are your thoughts on Crunchbase's spining out from TechCrunch (http://tcrn.ch/1K6SkQ3)? How do you see Angellist positioned vis-a-vis other players like Mattermark?
@varund7 Mattermark and CrunchBase are primarily data players and we partner with both in one way or another. Data is a useful by-product of what we do but not our core business. Anyway, not concerned if people compete. Our mission is to help founders and anyone or anything that helps founders helps us with our mission, so thank you.
Pedram Daraeizadeh
Pedram Daraeizadeh@pedramdara · Product Management and Marketing
@naval who are the top 3 product people you go to for advice?
@pedram92d I have a great product team internally - my co-founder, Babak Nivi. Our COO and head of product, Graham Jenkin. And my friend Elad Gil, since he's so smart and nice about everything.
Kyle Lee
Kyle Lee@chillfoodguy · Seeking, in the world.
How do you put interesting psycolohical things you read into habit?
@chillfoodguy Practice, practice, practice. Remind myself constantly. Tell others. It takes months to pick up a good habit. If I pick up one every six months, that's a victory.
Theoharis Dimarhos
Theoharis Dimarhos@theo_dimarhos · Marketing+Biz Dev at AngelouEconomics
@naval Hi Naval! How have you trained your mind to focus and execute and not get overwhelmed or distracted by other ideas? Are there ways to enhance that skill?
@theo_dimarhos Poorly. I'm always getting overwhelmed. Mostly, I just have to remind myself to be present and to focus. It's a constant, daily struggle. Slow down, be present, watch my thoughts. As far as I can tell, there are no shortcuts. I have to put in the hours. I read a lot of related books to remind myself.
neeharika sinha
neeharika sinha@neeeharika · Google, Threadchannel
Hello Naval! Would like to know what would you recommend an entrepreneur launching their company to keep in mind before they launch their product? Another question, Which qualities have been consistent in all the successful startups you have been a part of ?
@neeeharika Pick the best team / co-founder you possibly can. Very hard to change that later. There is a lot of luck involved, so there are few consistent factors for success, but there are lots of things that can eliminate you. Having a bad co-founder relationship or a weak founding team is probably #1.
Daniel Lee
Daniel Lee@dleesta · Product Manager
@naval what was an assumption you had about your customers when developing AngelList that you had to validate or disprove? How did it affect the product?
@dleesta There were tons. One that we validated early on was that startups would be willing to be emailed out and that investors would open their emails. That turned out ok. But that turned out to be hard to scale and all social networks suffer from user engagement decay, so we had to get in the transaction to add enough value - Syndicates.
Daniel Lee
Daniel Lee@dleesta · Product Manager
@naval Thanks! appreciate the insight and your time.
Roz McNulty
Roz McNulty@pitchpage
What do you think of the subscription funding method of Patreon? Could it be used in more ways than just the 'arts?'
@pitchpage Smart and uniquely enabled by new payment mechanisms, app store, etc. Yes, I think we will see more subscription models over time.
Ha Duong
Ha Duong@haduong_ · Associate at Techstars Barclays '16
@naval The time of marketplaces and social networks is past. The future is Market Networks like AngelList where people socially interact AND form buyer-seller relations. What do you think about this movement and about potential fields that might get disrupted?
@had_xiii James Currier from NFX wrote a good piece about it in TechCrunch. HoneyBook is an interesting case study.
Kyle Kahveci
Kyle Kahveci@kylekahveci · Product Manager, Founder
@naval Thanks a lot for being here. What are the 3-5 most important data points you've seen early-stage marketplaces focus on (that went on to have major success)?
@kylekahveci Most important thing in a marketplace is to generate and focus on the demand side (usually, but not always, the side with the money). The supply side (the side with the product) tends to go wherever the demand is.
D 0'clock
D 0'clock@d0clock · RedHare
@naval curious - do you see the Syndicates product as demand or supply side?
Dhiren Chatlani
Dhiren Chatlani@dhirench34 · CEO Relendo
Hi Naval, I am working on a P2P rental platform (relendo.com) and I believe we have achieved product-market fit and are currently growing weekly. How would you measure this? Conversion rate? User growth? BTW have been following your book recommendations and they are great ;) Meditations is really inspiring!
@dhirench34 Growth and retention are the gold standards. Run it past any sophisticated investor and their reaction will tell you :-)
Rory McLaughlin
Rory McLaughlin@txredking · Javascript Developer, Aspiring Maker.
Hey Naval! Thank you for your time. What is your opinion on the consumer shopping technology currently out there. There have been numerous product/service review and recommendation apps in the mold of epinions.com started over the past 5 to 10 years Why is success so hard to come by now with the exception of a few obvious companies like yelp and angie's list?
@txredking It's a winner take all business. Yelp adds value by reviewing thinly reviewed local items like restaurants. But no one needs to build a marketplace for the 500th review of a digital camera.
Found you through the Tim Ferris podcast. I loved it when you said you quit books after you don't find them interesting anymore, really changed the way I read now. Now,my qs are: 1) If you're trying to learn something new how do you get over the initial hurtles ? 2)Most courages thing you have ever done?
@hmitrea Re: 1) Just read whatever you like and learn that instead :-) No point in struggling to learn. If you're struggling, you're not that interested in it. Re: 2) Sorry, too personal. And everyone has their own problems they've overcome, and their struggles are equally valid. If I lionize my own, it'll just feed my ego.
Philip Tribe
Philip Tribe@ptribal · Co-founder, Designer
@naval Hey Naval, If you were to build a product today what would it be?
@ptribal AngelList, but better.
Billy White
Billy White@topdollabill
@naval Hi Naval.. after listening to you on Tim's show my amazon shopping cart is full :) Do you have any good product books you can recommend ?
@topdollabill Sorry, I tend not to read practical business / product books. Not sure why, I just don't find them that interesting.
Fevi Yu
Fevi Yu@feviyu · Founder & Chief Pet Sitter, Dogma.me
Hi @naval thanks for doing this, have a couple of questions... 1) How important do you think is Mentorship for Startups and 2) As a single founder of a Startup, I've realized that not many Accelerators are interested in me so my other recourse is Angel Investors. As an Angel Investor yourself, aside from looking at the team and assuming I have the other metrics in check (ie. product, market, timing, traction), what is the other most important metric for investing in a Single Founder Startup? Cheers!
@feviyu Mentorship is good to have but gets overdone. The best founders usually have a point of view on most things. Mentorship helps for fields where you just don't have the knowledge. Re: Single Founder, you'd have to be exceptional. At least recruit a great, late, founding team.
Fevi Yu
Fevi Yu@feviyu · Founder & Chief Pet Sitter, Dogma.me
@naval thank you for the insight! my mom has always believed that i was exceptional, working on convincing others now.
Sushant Chavan
Sushant Chavan@csushant · Team Leader, Technology, Mobiefit
Hi Naval, In your interview with Tim Ferris, you stressed on the purpose of becoming a creator and working for yourself. Do you think the tech start up world is plagued with over-glorification of individual quirks and idiosyncrasies while the idea of co-creation and teamwork is sidelined. Should we try to change it? How? Thanks, Sushant
@csushant All change is internal / personal. Pushing people to my or your idea of teamwork just creates more conflict. Just be the person you want others to be like. The rest is up to them. But yes, I do think the tech industry engages in too much hero-worship. But then, the whole world does.
D 0'clock
D 0'clock@d0clock · RedHare
@naval Outside of the tech and startup world, which companies and/or CEO's do you respect the most and why?
@d0clock Warren Buffet and Charlie Munger, for their impeccable integrity.
Niv Dror
Niv Dror@nivo0o0 · VC at Shrug Capital
@naval what app on your home screen would we least expect to see?
@nivo0o0 Signal by Open Whisper Systems. Moxie and team are doing a heroic job.
Junayd Mahmood
Junayd Mahmood@junaydmahmood · Marketing at UnlockYourBrain
@naval loved your podcast with @tferriss. How did you deal with the psychological highs/lows/stresses of being a founder or working entrepreneurially? What do you advise your founders to do/not do?
@junaydmahmood Be present. Be meditative. Form real friendships. Stay away from business networking events or friendships where there is always an underlying business angle.
Theoharis Dimarhos
Theoharis Dimarhos@theo_dimarhos · Marketing+Biz Dev at AngelouEconomics
Hey Naval! Where do you find the books you read? Do you have sources/people that recommend them to you?
@theo_dimarhos Friends and blogs - Kevin Simler's meltingasphalt.com is a good source.
glen poss
glen poss@glenposs · none
Naval, what are your thoughts on hardware products aimed at the consumer market?
@glenposs Needs a software component that makes the hardware "protectable" or unique - otherwise, even if you succeed, it'll just get knocked off.
glen poss
glen poss@glenposs · none
@naval agreed, patents are not what they once were. Do you feel that "smart" appliances, IE ones that allow for not only remote modification but social interaction will be the norm?
Daniel Greenberg
Daniel Greenberg@15greenberg · Making weird internet
@naval How do you pick the companies you invest in?
@15greenberg I wish I could say that it was some beautifully designed checklist process, but every great company is unique and every deal / investment has unique challenges and opportunities. So it does come down to gut feel and signals extracted from Team / Traction / Product / Social Proof.
Ekam Singh
Ekam Singh@es_ekam
Hi Naval, Thank you for doing a live chat. What do you think are some ways one can figure out what he or she is good at? If not good at anything, how do you recommend they start?
@es_ekam Ask your friends or parents to be brutally honest about what you do well and poorly. Look at what you actually do in your spare time, not what you would like to do or think that you do.
Rohit Goyal
Rohit Goyal@imrgoyal · CEO, Mudrex
@naval Hey Naval. I am a huge fan of AngelList. On a use-case basis It is the single platform I have found most useful for hiring startup talent. Kudos to AngelList team for building such a valuable product. My question is how did you build the trust for the first few investor to invest through AngelList as it would have been definitely one of the major challenge for you. And also how do you plan to make it effective in India as I still don't see much investments happening in India through AngelList. The reason for India might be complicated norms or trust itself.
@imrgoyal Problem with India is two-fold: 1) Regulatory - hard to operate our platform as designed 2) Critical mass - we haven't been able to put the time / attention in since we're so focused on US and Europe right now. Hiring works pretty well in India though, so there is that...
Abenezer Mamo
Abenezer Mamo@mamo_abenezer · Product Manager at Zoosk
@naval What are your thoughts on the invisible app trend?
@mamo_abenezer You've got me. I didn't even know it was a trend :-)
Abenezer Mamo
Abenezer Mamo@mamo_abenezer · Product Manager at Zoosk
@naval These services are gaining a lot of popularity because they offer a lot of value to users due to their simplicity.
Taylor Pearson
Taylor Pearson@taylorpearsonme · Author, TaylorPearson.me
Hey Naval, Thanks for doing this! Could you make elaborate and/or further reading recommendations on a statement you made on Tim Ferriss's podcast which I'll paraphrase as: "the natural size of the corporation in a world with zero marginal cost is one" This makes intuitive sense to me, but I can't articulate why it's true to other people or imagine what the world might look like. How did you come to that conclusion? What did you read?
Taylor Pearson
Taylor Pearson@taylorpearsonme · Author, TaylorPearson.me
@naval Thanks!
Ha Duong
Ha Duong@haduong_ · Associate at Techstars Barclays '16
@naval What are AngelList´s plans for increasing attention on other continents? Job search and most investor options focus on the US and the UK at the moment but there is a huge potential for the other continents. Especially Europe is evolving rapidly in the startup scene. Do you want to approach these markets soon?
@had_xiii AFAIK Job Search works for any English-speaking country where there is a critical mass of startups. Fundraising is constrained by local regulations.
Broota Brasil
Broota Brasil@brootabrasil · Broota Brasil
@naval Naval, thank you for the opportunity! I'd like to know if you (Angelist) plan on working with secundary market and if the founders of startups are willing to have their shares traded in secundary market.
Phani Reddy
Phani Reddy@pphanireddy
How does one start on the path of leverage? In general how does leverage work for an ordinary developer? I think it works wonders for the rich. I think of it as upward spiral of leverage for the rich.
Narek Khachatryan
Narek Khachatryan@narekk · Product Designer
Hello @naval - I wish didn't miss the Live session. Wanted to say first: I really dig your unpretentious approach to startups, philosophy and life. I've shared your interview w/ Tim many times and if you ever wrote a book, I'd be one of the first to pre-order it. Since Q&A is "over" I'm not expecting a response, but if you see this and are inspired to answer: What do you think are some BAD habits you see over and over in highly effective people (more than in a general population) that trips them up in work/startup environments? Thank you.