Why do I invest in second-time founders?
Why do I invest in second-time founders? Experience matters.
First-time founders bring fresh ideas and energy, but there's something special about second-time founders. They've been through the startup journey before. They know the highs, the lows, and the unexpected twists.
Here's why experience is key:
1) *Problem Solving Skills*
They've already faced challenges and found solutions. They can navigate hurdles with ease.
2) *Resilience*
After setbacks, they're still standing. This strength is invaluable.
3) *Network and Connections*
They've built relationships that open doors.
4) *Focus on Execution*
They understand the importance of getting things done.
5) *Time Management*
They know where to invest their time for maximum impact.
Experienced founders have been in the trenches. They've learned from mistakes and refined their approach.
This makes them a safer bet. Their experience increases the chance of success.
What do you think about investing in second-time founders?
Should CEOs be more like Elon Musk?
Marc Andreessen says there's no other CEO like him.
But there were similar industrialists in the 1800s.
Henry Ford who introduced the assembly line.
Andrew Carnegie who led the mass production of steel.
Thomas Watson who built IBM and pioneered data processing.
Like Elon Musk, they were all:
→ Incredibly devoted to deeply understanding what the company does
→ Completely knowledgeable of every aspect of their company
→ Talking directly to the people who do the work
→ The lead problem solvers in the company
They're the type of leaders who SHOW UP every week.
IDENTIFY the biggest problems to solve.
And fixes it right there and then.
Because Elon does this every week for 52 weeks of the year.
He gets to solve his company's 52 biggest problems that year.
Do you see what's missing?
Planning.
Planning for the meetings.
Planning for the meetings for the board meeting.
The lesson for founders: 𝗟𝗲𝘀𝘀 𝗽𝗹𝗮𝗻𝗻𝗶𝗻𝗴. 𝗠𝗼𝗿𝗲 𝗲𝘅𝗲𝗰𝘂𝘁𝗶𝗼𝗻.
Video sourced from EOIG.
CTO Founder Startup Hub x TechPreneur Ecosystem
Nailed it! Jeff Bezos on why the United States has more entrepreneurial success than other countries:
"The key reason why the USA has so much entrepreneurial success is that the country has the best risk capital where founders can raise $50 million even if their business has only a 10% chance of succeeding" - Jeff Bezos
This is exactly what we need in Europe to stay relevant in the age of AI.
Europe isn’t short on talent, ideas, or ambition. What’s missing is the willingness to invest heavily in emerging technologies - especially in frontier areas like AI.
If we want to stay relevant in an era defined by breakthroughs in machine learning, robotics, and biotech, we need a more risk-taking culture.
Because the future belongs to those willing to risk capital on new ideas.
CTO Founder Startup Hub x TechPreneur Ecosystem
The hardest thing Jeff Bezos ever did:
Pitching Amazon to 60 investors
And 40 said NO.
He was able to convince 22 angels to write $50K checks.
Raising $1M for 20% of Amazon at a $5M valuation.
How? By explaining what the Internet was.
In 1995, that's like explaining the metaverse.
An entirely new world to explore and navigate.
That's full of potential but widely misunderstood.
It's hard to imagine what it could be.
It could end up being a flop that fails to take off.
But it's the founder's job to convince investors it's worth betting on.
How do you explain the future?
You have to be good at selling a vision.
Tell a story of where you're going that excites those who hear it.
Source: The New York Times Dealbook Summit
CTO Founder Startup Hub x TechPreneur Ecosystem
"I don't get how your Growth Spheres model is different from the 3 Horizons."
I’ve been asked this question multiple times since launching my new white paper, and, well, you should read the paper to find out—because I address it right in the introduction 😉.
In short: the 3 Horizons are exactly that: Evasive horizons in the distance, or in other words; pure theory.
In reality, most organizations belittle H2 and H3 (where are the results?), strip them of resources, or stop working on them entirely. Our research shows that, unfortunately, 𝐥𝐞𝐬𝐬 𝐭𝐡𝐚𝐧 𝐨𝐧𝐞-𝐭𝐡𝐢𝐫𝐝 𝐨𝐟 𝐜𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐞𝐯𝐞𝐫 𝐚𝐜𝐡𝐢𝐞𝐯𝐞 𝐚𝐧𝐲 𝐬𝐮𝐛𝐬𝐭𝐚𝐧𝐜𝐞 𝐛𝐞𝐲𝐨𝐧𝐝 𝐇𝐨𝐫𝐢𝐳𝐨𝐧 1.
Why? Because the 3H model ignores the most powerful force: GRAVITY, created by the core of every large organization! It's not surprising, though, since the model was created by consultants who’ve never experienced gravity on their own bodies. And because it’s an invisible force, they couldn’t see it, weren't aware of it—and therefore wouldn’t include it on the PowerPoint slide on which the model came into existence.
The implications of using a bogus model are profound, though:
🚫 It’s pointless to "create options on H3": Unless you’re an R&D or tech-driven company, 𝘏3 𝘰𝘱𝘵𝘪𝘰𝘯𝘴 𝘢𝘳𝘦 𝘯𝘰𝘵 𝘷𝘪𝘢𝘣𝘭𝘦 by default. This misconception has led many companies to make poor, self-deceiving decisions, such as CVC investments.
✅ Instead, if you realize the reality of gravity, you must 𝘰𝘳𝘨𝘢𝘯𝘪𝘻𝘦 deliberately to allow adjacent business to grow, so it doesn’t get crushed by the core in the annual budgeting cycle.
𝐒𝐮𝐜𝐜𝐞𝐬𝐬𝐟𝐮𝐥 𝐠𝐫𝐨𝐰𝐭𝐡 𝐬𝐭𝐞𝐦𝐬 𝐟𝐫𝐨𝐦 𝐬𝐨𝐮𝐧𝐝 𝐩𝐫𝐞𝐬𝐞𝐧𝐭-𝐝𝐚𝐲
6 life lessons:
1. Privacy is power.
2. Seek advice from those who've succeeded.
3. Let people show you who they are.
4. Create your own opportunities.
5. Happiness = Freedom = Courage.
6. Embrace the struggle, find beauty in it all.
"People with high expectations usually have low resilience"
Super valuable insight here by Jen-Hsun for entrepreneurs.
If you have high expectations before starting a company and those aren't met early on it's easy to quit.
Building resilience is about doing what you believe in no matter what the results are.
Credit Guillermo Flor
Elon Musk on the reality of startups: 'It's like staring into the abyss and eating glass.' Nailed it. The highs are high, but the lows can be brutal.
Nailed it! Amazon founder & CEO Jeff Bezos's playbook for making decisions:
"All of my best decisions, in business and in life, have been made with heart, intuition, guts. Not analysis" - Jeff Bezos
And it's not only Bezos.
Many successful business leaders & entrepreneurs like Steve Jobs, Oprah Winfrey, and Richard Branson have attributed their success in part to trusting their intuition.
The thing is that intuition allows for faster decision-making compared to purely analytical approaches.
It can be especially useful in highly uncertain situations where data is limited. And that's pretty much business as usual in startups or new tech fields like FinTech, AI, etc.
Trust your gut.
Apple CEO Tim Cook said this: "If you zoom out many years into the future, and you ask what was Apple's greatest contribution to humankind. It would be in health."
First of all, this technique is called backcasting: you do mental time travel into the future, choose an endpoint and then reverse engineer the steps needed to reach that from today.
Second, do you agree with him? Shouldn't we already experience a healthcare revolution due to Apple's innovations to reach that goal? Isn't Apple's products too expensive and streamlined to make it happen?
Nailed it! Legendary entrepreneur & investor Naval Ravikant on networking:
"Networking is overrated. Go do something great and your network will instantly emerge" - Naval
It doesn't mean that networking has no value.
But if you keep going about trying to connect with every big shot, you may just end up looking like an opportunist.
Instead, focus on doing something great, having an awesome product or service, and building a strong personal brand.
These are the true foundations for having a generational network.
