The NFX Podcast

Essay Readout: Stablecoins are Defense Tech by Morgan Beller May 30, 2024

This is an essay readout using an AI voice clone of NFX general partner, Morgan Beller. Morgan navigates the world of stablecoins and defense tech, emphasizing the need for a synergy between regulators and stablecoin creators. She dives into the historical significance of the dollar's power and discusses how stablecoins could further propagate USD. The essay wraps up with insights on the role of stablecoin Founders in national defense and suggestions for a US digital dollar. (0:00) Introduction by Morgan Beller (0:35) Discussion on Stablecoins and Defense Tech (1:26) The Urgency for Regulators and Stablecoin Founders (2:12) Historical Context of Dollar's Dominance and Power (4:08) Potential of Stablecoins for USD Proliferation (6:28) Requirements and Proposals for a US Digital Dollar (7:37) Role of Stablecoin Founders in National Defense (7:58) Closing Remarks by Morgan Beller

The Past, Present, and Future of Longevity w/ Joe Betts-LaCroix Alex Colville Apr 10, 2024

In this episode, Omri Amirav-Drory (NFX), Joe Betts-LaCroix (Retro Bio), and Alex Colville (Age1) discuss the history, recent progress, and hurdles in the longevity industry, including the evaluation of potential founders and business risks. The discussion further encompasses the global fundraising potential and societal impact of the longevity sector, viewing aging as a disease, and the future of longevity drugs. Learn more at - https://nfx.com/bio (0:00) Introduction and Overview of Longevity Science (4:21) Transition from Scientist to Investor: Alex Colville's Journey (8:16) Current Advancements in Biology and Aging Field (12:15) Cutting Edge Topics in Longevity Space (20:02) Evaluating Potential Founders and Startups in the Longevity Space (22:08) Challenges in Longevity Field: FDA Approval and Mission Focus (23:46) Risks and Investment in the Biotech Industry (27:24) Misconceptions and Business Case for Longevity (32:34) Societal Effects and Impact of Longevity Drugs (36:08) Advice and Future Challenges for Founders in the Longevity Field (38:04) Closing Remarks and Thanks

The NFX Podcast w/ Alex Babin of HerculesAI Mar 20, 2024

Hercules builds high-quality, enterprise-grade AI solutions based on data extraction, transformation, and verification, while integrating with enterprise systems and tools for maintenance and monitoring. Join NFX general partner James Currier and HerculesAI CEO Alex Babin talk about the latest breakthroughs in the AI space of enterprise companies.

Hercules builds high-quality, enterprise-grade AI solutions based on data extraction, transformation, and verification, while integrating with enterprise systems and tools for maintenance and monitoring.

Join NFX general partner James Currier and HerculesAI CEO Alex Babin talk about the latest breakthroughs in the AI space of enterprise companies.

(0:00) Introduction and background of Alex Babin, CEO of Hercules AI (3:49) Origin story and initial focus of Hercules AI (8:28) Reflections on the early days and current state of Hercules AI (13:08) Hercules AI's mission, vision, and the problem they are solving (16:04) Importance of supporting existing infrastructure and Hercules AI's pricing model (19:33) Introduction to Rosetta Stone, Hercules AI's new model (23:39) Challenges of integrating AI into enterprise business processes (28:02) Predictions for the AI market in the next 5 to 10 years (31:26) The battle between Google and OpenAI in the AI market (34:28) Closing remarks and appreciation

Essay Readout: Real Estate’s Hidden AI Revolution by Pete Flint Oct 22, 2023

This is an essay readout using an AI voice clone of NFX general partner, Pete Flint. AI has the potential to smooth out many links in the real estate production chain and create a cascade that will close the productivity gap. This essay reveals what’s on the way and how founders can seize this opportunity. Read the full essay here - https://www.nfx.com/post/ai-revolution-proptech

Read the full essay here - https://www.nfx.com/post/ai-revolution-proptech

(0:00) Introduction and AI voice experiment (2:35) The challenges and opportunities in digitizing the real estate industry (6:31) AI applications in zoning, permitting, and speeding up renovations (9:28) Opportunities and challenges for B2B startups and access to data (12:07) Considerations for founders and identifying control points in the real estate AI field (14:22) The rise of AI co-piloting in high-stakes industries and overlooked opportunities (15:13) The impact of AI in architecture, engineering, and construction (15:45) Closing remarks and invitation for early-stage founders in real estate and AI

#1 Phone A Friend: "Astronauts for Inner Space" with Raed Khawaja Jul 26, 2023

Morgan Beller calls up Raed Khawaja - CEO & Co-Founder at Open - to catch up and talk about the current movement around one's 'inner-space'. Open is a social space for meditation, movement, and practice — on and offline, who’s raised close to $15M to help friends be present together. They blend old and new to bring you to the here and now on their app, in person at their Venice Beach studio, and even in the sky on JetBlue airlines. Their hybrid method strengthens the mind-body connection. NFX operates as a pre-seed and seed stage VC that is transforming how true innovators are funded - subscribe, share, and stay tuned for more episodes of 'Phone a Friend' with General Partner Morgan Beller.

Morgan Beller calls up Raed Khawaja - CEO & Co-Founder at Open - to catch up and talk about the current movement around one's 'inner-space'.

Open is a social space for meditation, movement, and practice — on and offline, who’s raised close to $15M to help friends be present together. They blend old and new to bring you to the here and now on their app, in person at their Venice Beach studio, and even in the sky on JetBlue airlines. Their hybrid method strengthens the mind-body connection.

NFX operates as a pre-seed and seed stage VC that is transforming how true innovators are funded - subscribe, share, and stay tuned for more episodes of 'Phone a Friend' with General Partner Morgan Beller.

(0:00) Introduction and welcome to the podcast (2:39) Topic: The Power of Friendships and Networking (4:41) Topic: Open Office Experiment at NFX (7:33) Topic: The Impact of Meditation and Mindfulness Practices (13:14) Topic: Destigmatization and Critical Mass of Wulu Practices (18:24) Topic: Scaling the Magic of In-Person Experiences (23:10) Topic: Market Size and Potential Audience for Wellness Practices (26:08) Topic: Role of Breathwork in Wellness and Decision Making (32:02) Topic: Current Obsessions in the Wellness Space (33:47) Topic: Introduction to Death Meditation

Essay Readout: Generative Tech Begins by James Currier Jul 23, 2023

This is an essay readout using an AI voice clone of NFX general partner, James Currier. Generative Tech is the next step in software. It’s a new level of human-machine partnership. It turns deep learning engines into collaborators to generate new content and ideas nearly like a human would. This area is so new, and moving so fast, you can have an advantage in your chosen area in a few months… for now.

Read the full essay here - https://www.nfx.com/post/generative-tech

(0:00) Introduction: James Currier on AI and generative tech (1:41) New Internet topology with generative tech (3:44) Generative tech and the creative process (6:10) The future of generative tech and advice for founders (8:36) Replacing curation with creation in generative tech (11:54) Data network effects and the importance of hyper-local datasets (14:01) Achieving uniqueness at scale with generative tech (15:20) Picking the right idea and fast growth strategies in generative tech (17:15) Balancing business growth with societal responsibility (18:32) Closing, contact details, and subscription information

Essay Readout: 3 Waves of Successful Generative Tech Startups by James Currier Jul 16, 2023

This is an essay readout using an AI voice clone of NFX general partner, James Currier. Every 14 years there’s a tech revolution, and we have now entered the Generative Tech revolution. Anything you’re interested in, anything you’re working on is going to be impacted by generative tech and generative AI. In addition to the AI model companies, many unicorns and decacorns will be built, starting now. We’re already seeing three types of winners. If you can wrap your mind around what is happening with these new capabilities and see the future better than others, there is no better time to build something huge.

Read the full essay here - https://www.nfx.com/post/3-waves-generative-ai-startups

(0:00) Introduction and AI Voice Experiment (0:32) Overview of Generative Tech Startups and Their Impact (1:32) First Wave of Generative Tech: Wrappers Around AI Models (2:22) NFX Generative Tech Market Map: An Insight into the Current Market (3:10) Third Wave of Generative Tech: Visionary and Non-Obvious Innovations (4:13) Conclusion and Request for Audience Feedback

AI x Speed (Sunday Readouts) Jun 25, 2023

This is an essay readout using an AI voice clone of NFX general partner, James Currier. The AI revolution just ratcheted up the speed bar for startups. You think you’re moving fast enough. You’re not. Speed is the number one advantage of a startup. But now that generative AI here, your definition of speed has to increase 10x.

Read the full essay here - https://www.nfx.com/post/speed-and-ai

(0:00) Introduction to AI and its future implications (1:16) NFX's perspective on generative AI (2:16) The need for founders to move faster into the AI market (3:39) The importance of resetting speed benchmarks (4:37) The new speed bar for product launches with generative AI (4:59) Advice for founders to adopt a faster mindset (7:56) Conclusion: The importance of a fast mindset in the age of AI (8:11) Feedback request and how to subscribe to the NFX podcast

Building Your Startup’s Attention Flywheel with Vijay Chattha (Founder of VSC) Jan 20, 2023

There’s a concept in network theory called Preferential Attachment. When one node gets ahead, it attracts more resources, and more attention. It's a snowball effect. PR for your company works the same way. Once you become the biggest node, more resources flow to you. Today, NFX General Partner James Currier sits down with Vijay Chattha, founder of PR agency VSC to reveal how to build that attention flywheel. VSC has worked with NFX unicorn companies like Mammoth Biosciences, Poshmark, and Outdoorsy, to build attention and momentum from the ground up. (0:00) Introduction and Background of Vijay Chattha (5:06) Vijay Chattha's Approach to PR and Criteria for Representing Companies (10:41) The Importance of a Company's Storytelling Runway and Marketability (19:26) Authenticity, Audience Understanding, and the Role of Journalists in Today's Media Landscape (25:28) Setting Goals and Audience Targeting for Seed Stage Startups (30:40) Case Study: Successful PR Strategy with Mammoth Biosciences and the Concept of Preferred Attachment in PR (37:44) The Role of Funding in Storytelling and Strategies for Early-Stage Startups (43:19) Risks and Rewards of Founders Using Social Media and Choosing the Right Medium for Communication (47:10) Common Mistakes Founders Make in Communication and the Shifting Landscape of Media Coverage (51:15) When to Hire a PR Firm and the Role of Investors in PR and Storytelling

The Strategies of Elite CEOs with Avishai Abrahami (CEO & Co-Founder of Wix) Jan 18, 2023

The transition from Founder to CEO is a watershed moment in your company, and in your life. A great Founder creates something from nothing. A great CEO takes the next step, and builds mechanisms of success. They turn that vision into a well-functioning machine. Becoming a great CEO is a matter of tactics and personal growth. Today, NFX General Partner Gigi Levy-Weiss reveals how to get there, with special guest Avishai Abrahami, the founder of Wix. Avishai built Wix into a company of about 5,000 people, with 1.4 billion in revenue. They’ll cover how Founders can become great CEOs, measurements that most startups miss, the difference between good failure and bad failure, and more. (edited) (0:00) Introduction: Gigi Levy-Weiss and Avishai Abrahami (1:29) The Success Journey of Wix (5:14) Mechanisms for Success and Role of a Manager in a Startup (10:02) Talent Acquisition and HR Processes in Startups (16:17) The Evolution of Talent Requirements as the Company Grows (19:05) The Importance of Measuring Business KPIs (22:34) The Role of Failure and Experimentation in Startups (25:28) Efficient Meeting Management in Growing Companies (30:56) The Significance of Clear Communication and Transparency in a Company (40:27) Efficiency of Remote Work vs. Office Work in Startups (44:55) Closing thoughts: Winners always want the ball when the game is on the line

NFXBio: Deal or Die – A Guide to TechBio Business Development and Strategy Jan 10, 2023

There are two parts to building a bioplatform: you have to focus on the science, then you have to think about the business side. When do you partner? When do you develop your own products? How can you determine the real value of a deal? How do you build a strategic network? What avenues are Founders overlooking right now? These are questions our companies ask us all the time. Today, Head of NFXBio Omri Amirav-Dory, Yael Gruenbaum-Cohen, a venture partner at aMoon Fund, and Peter Nell, former Chief Business Officer and head of Therapeutics at Mammoth Biosciences, are charting a roadmap for successful bioplatform business development. (0:00) Introduction by Omri Amirav-Drory and Guest Introductions: Peter Neil and Yael Gruenbaum-Cohen (4:06) Discussion on NFX's Investment Focus and the Role of Business Development in Startups (11:33) Importance of Strategic Partnerships and the Right Deals for Company Growth (17:19) Building Trust and Relationships in Business Development, Importance of Patience (23:13) The Role of Soft Skills, Evidence Required for Partnerships and the Relevance of Animal Models in Funding (30:04) Common Mistakes Founders Make During Deal-Making and a Hypothetical Case Study Discussion (36:29) The Potential and Challenges of Commercializing Technology as a Service in Platform Companies (38:48) The Dilemma of Balancing Pipeline Advancement and Financial Opportunities in Startups (41:00) Exploring New Avenues for Business Development: Partnering and Competition (43:49) Final Thoughts on Business Development in the Current Funding Climate and Closing Remarks by Omri Amirav-Drory

NFXBio: Tech Founders, Don’t Be Afraid of Bio Jan 05, 2023

There’s huge value in integrating tech and bio. But many tech entrepreneurs don’t realize what they can bring to the field. Tech entrepreneurs: you can come to bio, if you learn to speak the language. Today, head of NFX Bio Omri Amirav-Drory sits down with his former co-founder at Genome Compiler, and Founder of Mana.bio Yogev Debbi. Yogev has bridged the gap between tech and bio several times in his career. Here’s how to build a culture of trust, leverage your fresh perspective, and build impactful companies at the intersection of tech and bio. (0:00) Omri Amirav-Drory introduces the episode and guest, Yogev Debbi (5:59) Debbi's experience with Twist Biosciences and the impact of CRISPR (10:15) Debbi's decision to start MannaBio and its mission (12:45) The complexity and challenges of developing new delivery vehicles in biotherapeutics (17:28) The importance of automation and efficiency in biotech (22:33) Applying tech concepts to improve efficiency in bio (26:30) Building the right team for a tech-bio startup (32:25) Bridging the gap between tech and bio teams for innovation (38:06) The evolution of problem-solving in startups (41:17) The crucial elements of a successful startup: Team, Technology, and Market (43:26) The potential of biology in solving world problems

Ep 11: Network Effects In TechBio (NFX Masterclass) Dec 21, 2022

Biology is the most advanced technology on earth. It’s a nanotechnology that actually works, and it scales. The rest of the world will benefit when there are more TechBio founders and investors in the space and this sector has never been more central to shaping a better future. The next significant phase of human progress is going to be led by these Scientist-Founders who build TechBio companies capable of unlocking that future. In this episode, general partner Omri Drory explores how network effects are helping TechBio companies cure diseases, fight climate change, and tackle some of the biggest issues facing humanity today.

This is an audio version of final episode from The Network Effects Masterclass, curated for audio and listening on the go. For the full video experience, transcripts, and recommended reading, join the free Network Effects Masterclass at - NFX.com/masterclass.

(0:00) Introduction and Omri Amirav-Drory's Background (1:24) The Intersection of Biology and Entrepreneurship (2:40) Deep Dive: Mammoth Biosciences and Importance of IP in Bio (5:57) Transition from Biotech to Tech Bio and Power of Regulation (7:25) The Power Law in VC and NFX's Investment Criteria (9:11) Conclusion and Encouragement for Tech Entrepreneurs to Enter Tech Bio

Ep 10: Network Effects In Gaming (NFX Masterclass) Dec 14, 2022

We are in the first wave of web3 games, and some believe that games don't have network effects built into their development or long-term strategy. In this episode, listen to NFX partner Gigi Levy-Weiss as he dives into the world of defensibility within the gaming industry, sharing the 4 layers of network effects, the future of virtual goods, and a case study on Steam - the leading platform for video game development.

This is an audio version of episode 10 from The Network Effects Masterclass, curated for audio and listening on the go. For the full video experience, transcripts, and recommended reading, join the free Network Effects Masterclass at - NFX.com/masterclass.

(0:00) Introduction to the episode and foundation of NFX (2:38) Understanding network effects in games and misconceptions (3:29) Game liquidity, player matching, and personal networks (5:15) Layers of network effects in games: Game network and personal utility (6:29) The marketplace layer of network effects and the bandwagon effect (8:16) Defensibility and longevity of top games due to network effects (9:39) Introduction to Steam and its marketplace network effect (12:34) User-generated content and virtual goods in Steam's marketplace (14:40) Network effects in Steam, the bandwagon effect, and its 30% rake on transactions (16:50) The challenge for competitors to replicate Steam's network effects (17:13) Concluding remarks and a preview of the next episode

Ep 9: Why Network Effects Are (Even) More Powerful In Web3 (NFX Masterclass) Dec 07, 2022

In Web3, network effects are fundamental and critical to survival. If you’re building in Web3 properly, then it should automatically include network effects. Listen in as General Partner Morgan Beller acts like the river guide of network effects for Web3 as she shares her experience and insights on how to be defensible in this new world. Eventually, we will see Web3 swallow Web2 - look how much we’ve learned since that white paper for BTC arrived in 2009. Founders on the frontlines of the Web3 world are educating us on how to remain defensible and retain growth amongst competitors.

This is an audio version of episode 9 from The Network Effects Masterclass, curated for audio and listening on the go. For the full video experience, transcripts, and recommended reading, join the free Network Effects Masterclass at - NFX.com/masterclass.

(0:00) Introduction to the episode and Morgan Beller (1:26) Overview of Web 3 and its product building path (5:23) Importance of product standard and platform risk in Web 3 (9:10) Applying Web 2 lessons to Web 3 development (11:32) Integrating network effects into your Web 3 business (14:29) The role of tokens in network bonding and social network effects (18:05) Navigating towards the center of the circle for a more defensible position (20:43) Application of Web 3 ethos in the creation of Libra (22:18) The importance of network effects in Web 3's early stage (23:34) Closing remarks and subscription invitation

NFXBio: The Promise of Synthetic Embryos with Dr. Jacob Hanna of Renewal Bio Dec 06, 2022

We're highlighting a breakthrough moment - this summer, Dr. Jacob Hanna, a professor at the Weizmann Institute of Science published a paper demonstrating that synthetic mouse embryos could be grown outside the womb, without an egg or sperm. This is a major advance that was covered by Nature, The Washington Post, The New York Times, and others. Today, the head of NFXBio Omri Amirav-Drory is sitting down with Dr. Hanna to discuss how we reached this milestone, what it means for science, and how entrepreneurship can help bring this technology out of the lab. (0:00) Introduction to synthetic embryos and Dr. Jacob Hanna (4:25) Discussion on growing mouse embryos outside the uterus (7:48) Self-organizing stem cells and their role in synthetic embryos (14:15) Future possibilities and limitations of synthetic embryo development (17:04) Potential treatment of diseases with synthetic embryo technology (20:47) Scientist founder's journey and commercialization of synthetic embryo technology (25:01) Closing remarks and thanks

Ep 8: Your Life Is Driven By Network Effects (NFX Masterclass) Nov 30, 2022

What city you live in. Who you date or marry. Which job you choose. What clothes you wear. We all think we make these choices ourselves. It certainly feels like we’re in full control. The unseen hand in them all is the networks that surround us and the powerful math they exert on us. This episode outlines how we see network effects impacting nearly every aspect of your life. It will hopefully help you make decisions that are more true to the kind of life you want to lead. This is an audio version of episode 8 from The Network Effects Masterclass, curated for audio and listening on the go.

For the full video experience, transcripts, and recommended reading, join the free Network Effects Masterclass at - NFX.com/masterclass.

(0:00) Introduction to network effects in your life (1:36) Utilizing network forces in life (3:25) Decision-making role of our networks (5:10) Formation of network bonds (6:24) Understanding degrees of separation in networks (7:38) Layers where networks form (9:26) The seven crossroads moments in life (12:19) Merging of networks in marriage (13:06) Influence of location on lifestyle and network (14:01) Advice for recent graduates: Choosing city and job based on network (14:53) Conclusion and announcement of the next episode

Ep. 7 - Network Problems Demand Network Solutions (NFX Masterclass) Nov 23, 2022

In this episode, James Currier delves into the power law in network effects and its impact. He explores the transition from an agrarian to a networked economy, discusses the perception of status in this new system, and examines the social and economic impacts of network effect businesses. He also discusses changing social contracts and the role of an ombudsman in network effect businesses.

We spend a lot of time teaching Founders how to use network effects to create these giant, world-changing businesses, but we think that too little has been said about how society should adapt to these new network effect behemoths we’re helping create.

This episode is hosted by general partner James Currier as he discusses how network effect businesses are reshaping the world, why it's our responsibility to design and thoughtfully set up social contracts with our different constituents, and the need to have a perspective about what you are giving and getting from the people on these networks.

This is an audio version of episode 7 from The Network Effects Masterclass, curated for audio and listening on the go. For the full video experience, transcripts, and recommended reading, join the free Network Effects Masterclass at - NFX.com/masterclass.

(0:00) Introduction to the episode and network effects (1:12) The power law in network effects and its impact (3:03) Transition from agrarian to networked economy (5:50) Perception of status in the networked economy (7:24) Impact of network effect businesses on society and economy (10:17) Changing social contracts in the networked economy (14:21) Ongoing social contract between businesses and network users - Part II (15:19) Role of an ombudsman in network effect businesses (16:50) Closing remarks and promotion for upcoming episodes

NFXBio: TechBio Platforms Developing a Universal Vaccine & Beating Treatment-Resistant Cancer Nov 22, 2022

In this episode, Nick Goldner and Jacob Glanville share their founder journeys and discuss platform technologies in biotech. They delve into the business models of Resistance Bio and Sentivax, strategies for infectious diseases, and the challenges of scientific entrepreneurship. The conversation shifts to fundraising experiences and understanding investor feedback, concluding with visions for the future of biotech.

In biology we have a saying: what doesn’t kill you mutates and tries again.

Cancer. Deadly viruses. These problems are so hard to tackle because the goalposts are always moving. Thanks to evolution, these diseases often outpace therapies and vaccines.

Today, NFX General Partner and Head of NFX Bio Omri Amirav-Drory is sitting down with two Founders using platforms to stay a step ahead of evolution. Jacob Glanville, Founder of Centivax, has developed a platform to create broad spectrum vaccines capable of arming the immune system against rapidly mutating viruses (like COVID-19 or influenza). Nick Goldner, Founder of resistanceBio, discusses his approach for mapping all the possible resistance paths a cancer can take in the human body – and developing therapies to shut those escape routes down.

Here’s why we need platforms to tackle biology’s biggest problems, what it takes to build a platform company, and their advice for fundraising in Techbio.

(0:00) Introduction to the episode and guests (1:45) Founders' journeys: Nick Goldner and Jacob Glanville (8:19) Discussion on platform technologies in biotech (23:30) In-depth look at Resistance Bio and Sentivax's platforms and business models (28:45) Strategies for addressing infectious diseases (34:15) Overcoming challenges in scientific entrepreneurship (34:59) Transition to discussing fundraising experiences (43:42) Understanding the investor's perspective and adapting based on feedback (47:34) Vision for the future of their platforms and the intersection of biology and technology (51:33) Outro and podcast reminders

Ep. 6 - Case Studies: Network Effects In Action (NFX Masterclass) Nov 18, 2022

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These are case studies and stories that outline network effects in the wild - it is a montage of how big tech companies like Trulia, Meta, Uber, and even Bitcoin navigate their defensibility over time. For the best experience of this episode, watch our case studies at nfx.com/masterclass or by searching on YouTube to get the visual side of these deep dives.

That was episode 6 of 11, from the Network effects masterclass. Stay tuned and subscribe as next up is Ep. 7 - Network Problems Demand Network Solutions, here on the NFX podcast.

This is an audio version of episode 6 from The Network Effects Masterclass, curated for audio and listening on the go. For the full video experience, transcripts, and recommended reading, join the free Network Effects Masterclass at - NFX.com/masterclass.

Ep. 5 - Network Bonding Theory (NFX Masterclass) Nov 09, 2022

In this episode, James Currier delves into 'Network Bonding Theory'. He elucidates how to make implicit network calculations explicit, discusses declining equity distribution in startups, and the future of calculating node value. He explores the role of fungible tokens in enhancing network nodes and the shift to tokens and NFTs. Lastly, he discusses the vulnerability of networks and the importance of understanding and measuring nodes for company development.

Realize that your startup itself is a network. Your goal is to bond people to it. When you attach, or bond, one node to your network, it adds value to all the other nodes.

This is episode 5, from the NFX Masterclass, covering Network Bonding Theory. Learn best practices for bonding nodes to your network led by NFX General Partner James Currier as he shows you a set of mechanisms that will help you build network effects startups even better.

This is an audio version of episode 5 from The Network Effects Masterclass, curated for audio and listening on the go. For the full video experience, transcripts, and recommended reading, join the free Network Effects Masterclass at - NFX.com/masterclass.

(0:00) Introduction to Episode 5: Network Bonding Theory (2:07) Understanding and Making Implicit Network Calculations Explicit (3:44) Declining Equity Distribution in Startups and Future of Calculating Node Value (7:03) Compensating Nodes for Their Performance and Different Types of Compensation (11:47) Lionel Messi's Compensation with Fan Tokens and the Inequality of Nodes (14:41) Role of Fungible Tokens in Enhancing Network Nodes and the Shift to Tokens and NFTs (16:39) Human Factors in Compensation Models and the Era of Network Wars (19:14) Vulnerability of Networks: Fungible Nodes and Network Attacks (21:02) Importance of Understanding and Measuring Nodes for Company Development (21:44) Conclusion and Preview of Next Episode

Ep. 4 - The 4 Pillars of Defensibility (NFX Masterclass) Oct 26, 2022

In this episode, Pete Flint discusses the four major defensibilities in the digital world: network effects, brand, embedding, and scale. He emphasizes the importance of these defensibilities in early-stage startups and explains why focusing on network effects can be more beneficial than scale effects. The episode also explores the role of intellectual property in certain categories and how to incorporate different forms of defensibility over time.

Durability = Network Effects + Economies of Scale + Brand + Embedding + IP.

Learn about these other 4 strategies for startup durability outside of network effects from NFX General Partner, Pete Flint. Value creation mostly accrues in the out-years when usage, revenue, and growth compound. Founders who win big spend more time at the beginning on creating products and business mechanisms that follow these five durability factors and thus drive increasing returns at scale.

This is an audio version of episode 4 from The Network Effects Masterclass, curated for audio and listening on the go. For the full video experience, transcripts, and recommended reading, join the free Network Effects Masterclass at - NFX.com/masterclass.

(0:00) Introduction to the episode: The 4 pillars of defensibility with Pete Flint (1:09) Creation of a marketplace in the US real estate industry: Pete Flint's journey (2:52) The importance of defensibility in early-stage startups (3:29) The four major defensibilities in the digital world: network effects, brand, embedding, and scale (8:43) The concept of embedding as a form of defensibility with examples (11:23) Scale as a form of defensibility: concept and significance (15:26) Network effects vs scale effects: Why early-stage startups should focus on network effects (16:21) The role of IP as a form of defensibility in certain categories (17:06) Incorporating a combination of defensibilities in a startup over time (24:00) Exploring related material on NFX.com (29:00) Sponsor: ${name}

Ep. 3 - Mapping Out the 16 Network Effects (NFX Masterclass) Oct 19, 2022

In this episode, James Currier dives into the Network Effects Masterclass, exploring various types of network effects. He discusses personal utility, direct, marketplace, platform, expertise, and data network effects, with examples from Bit Torrent and Skype. He also explores social or human, tribal, and hub and spoke network effects, emphasizing their cultural and business influence.

Unlock the NFX map to understand how each network effect works — in episode 3 of the Network Effects Masterclass, General Partner James Currier will review the 16 types of network effects and how they reinforce each other in powerful ways. Learn to analyze the NFX map to determine how to engineer sustained, long-term growth into your startup.

This is an abridged version of episode 3 from The Network Effects Masterclass, curated for audio and listening on the go. For the full video experience, transcripts, and recommended reading, join the free Network Effects Masterclass at - NFX.com/masterclass.

(0:00) Introduction to the episode and the Network Effects Masterclass (1:17) Overview of different types of network effects (4:00) Deep dive into personal utility and direct network effects with examples (6:06) Examination of marketplace and platform network effects (10:29) Understanding expertise and data network effects (14:09) Tech performance as a network effect: Bit Torrent and Skype as examples (15:16) Social or human network effects: Language as the first example (17:38) Tribal network effect and its influence on business and product design (19:32) The cultural aspect of the bandwagon effect (20:47) Exploration of the hub and spoke network effect (22:58) The journey and excitement in reinforcing network effects

Ep. 2 - The Underlying Properties Of Network Theory (NFX Masterclass) Oct 12, 2022

Unlearn what you thought you knew about network effects. This episode takes you to the very beginning and lays out network theory from square one. Listen in as James covers the basics of network principles to use as a launchpad for the rest of the course and see how your startup behaves as a network itself.

This is an abridged version of episode 2 from The Network Effects Masterclass, curated for audio and listening on the go. For the full video experience, transcripts, and recommended reading, join the free Network Effects Masterclass at - NFX.com/masterclass.

(0:00) Introduction to episode 2: The Underlying Properties of Network Theory (1:06) Fundamental properties of a network: nodes, links, and structures (3:22) Understanding network structures, shapes, and associated laws (6:07) Reaching critical mass in a network & building clustering coefficients (8:46) The importance and impact of real IDs in network properties (12:57) Example of a marketplace network: Outdoorsy and Lending Club (15:13) Avoiding negative network effects and dealing with network pollution (18:30) Overcoming business growth challenges: Chicken or egg problem and multi-tenanting (20:57) The difference between network effects and viral effects (24:39) Understanding viral growth: the concept of K factor and the need for constant reinvention (27:29) Announcement: Release schedule for upcoming NFX podcast episodes (27:35) Sponsor: NFX masterclass available online

Ep. 1 - Why Network Effects Are Mission Critical (NFX Masterclass) Oct 05, 2022

In this episode, James Currier provides a masterclass on Network Effects. He discusses his experiences, understanding, and the evolution of network effects in companies like Monster.com, Apple, and Salesforce. The episode explores the history and importance of network effects with examples from marketplaces, AT&T, and Microsoft, and presents case studies on Facebook and WhatsApp. The episode also teases upcoming content.

Few understand the hidden complexities of network effects - learn all there is to know about building iconic companies from day one. This is episode 1 of the Network Effects Masterclass (audio edition).

You'll hear a short introduction from NFX Partner James Currier on what you will learn in this masterclass to build your company into the next world-class startup and understand why network effects are the #1 advantage in driving exponential growth.

This is an abridged version of episode 1 from The Network Effects Masterclass, curated for audio and listening on the go. For the full video experience, transcripts, and recommended reading, join the free Network Effects Masterclass at - NFX.com/masterclass.

Stay tuned for weekly episodes until we finish the course.

(0:00) Introduction to the Network Effects MasterClass (1:30) The hosts' experience with network effects in companies and their significance (4:12) Realization and evolution of network effects in companies like Monster.com, Apple, and Salesforce (5:38) Understanding what network effects are and what they are not (7:05) History and importance of network effects, examples from marketplaces, AT&T, and Microsoft (10:14) The historical context of network effects and the emergence of web 3 (12:20) Case studies: Facebook and WhatsApp (12:43) Conclusion and next episode teaser

Coming Soon: The Network Effects Masterclass [special audio edition] Sep 22, 2022

In this episode, James Currier delves into the significance of network effects, providing insights on their impact on startups and daily life. Also included is an introduction to a master class on network effects.

At NFX, we've spent over 20 years studying the power of network effects. As founders, we’ve built them into companies worth $10B+. As investors, we teach our founders these playbooks. Now we’re putting everything we know into an 11-episode Network Effects Masterclass, made for early-stage startup founders and their teams.

There will be a full video and transcript experience on NFX.com — but we’re also abridging each episode for a native audio experience here for our NFX podcast listeners. Few understand the hidden complexities of network effects - learn everything there is to know about building iconic companies from day one.

Coming soon to The NFX Podcast.

(0:00) The Importance of Network Effects - James Currier (0:34) Master Class Introduction - James Currier (1:07) Understanding Network Effects - James Currier (1:50) Impact of Network Effects on Life and Startups - James Currier (2:09) Sponsor: Network Effects Master Class - MC

NFXBio: Academia or Startup? A Decision Matrix for Future Scientist-Founders Jul 21, 2022

In this episode, guests Jennifer Dionne and Yaniv Erlich share their journey transitioning from academia to startups, including Yaniv's experience with MyHeritage and Eleven Therapeutics. They compare academia and startups, discuss career options post-PhD, and provide advice for PhDs considering starting a company. They also delve into translating academic experience to business, reflecting on their academic careers and realizations about entrepreneurship.

NFX Bio is committed to backing Scientist-Founders who are inspired to change the world. But there are far fewer scientists-Founders today than there should be. Instead, scientists often follow the path that academia paves for them: from graduate school, to a PhD, to a postdoc, to another role in academia.

In this episode, NFX General Partner and Head of NFX Bio, Omri Amirav-Drory, sat down with Stanford professor and Pumpkinseed Founder Jennifer Dionne and former Columbia professor and Founder of Eleven Therapeutics Yaniv Erlich to discuss forging your own path: starting your own company.

Here’s how to think through leaving academia, how to know whether it’s time to spin out of your university, and the key takeaways from each of their scientist-turned-founder journeys.

Read the full essay here - https://www.nfx.com/post/techbio-scientists-academia-or-startup

(0:00) Introduction to the episode, hosts and guests (1:33) Transition from academia to startup: Jennifer Dionne and Yaniv Erlich's journey (9:54) Yaniv's experience with MyHeritage and Eleven Therapeutics (12:30) Comparison of academia and startups: pace, customers, and freedom (20:17) The product of academia: students or research? The concept of academic freedom (21:10) Advice for aspiring PhDs and postdocs considering startups (26:42) Sponsor: NFX Podcast (27:22) Career options post-PhD and the decision to pursue a postdoc (32:29) Challenges and advice for PhDs considering starting a company (40:21) Translating academic experience to business and why NFX likes scientist founders (46:10) Reflections on academic career and realization about entrepreneurship (47:07) Wrap up and thank you notes

Crazy Until It’s Not: New Story Charity’s Bitcoin-Based Mortgages, NFTs, and 3D-Printed Homes Dec 14, 2021

In this episode, Pete Flint chats with Brett Hagler about the recent activities and innovative strides of New Story. They delve into the company's origin, growth, and their mantra of pursuing innovative ideas. They discuss the influence of community on aspirations and New Story's culture and values. The conversation also covers the intersection of Web 3 and real estate financing, future plans, and the potential of NFTs for nonprofits.

Some problems are so big, they feel crazy to even try to solve them. Global homelessness, for example. 1.6 billion people today are living without adequate housing*. This represents a massive, underserved market, and a type of problem often overlooked by tech Founders.

Fortunately, Brett Hagler and his Co-Founders at New Story Charity are tackling it head-on, with an unlikely combination of 3D printed homes, Bitcoin-based mortgages, and fundraising via NFTs.

Pete Flint has had the privilege of serving on New Story’s board since they graduated YCombinator in 2015 and have since witnessed their impressive, fearless growth. What looked at first like an intractable problem now seems like fertile ground for radical proptech-meets-Web3 innovation.

Real estate is the story of our lives.

(0:00) Introduction and Guest Introduction: Brett Hagler (5:26) Update on New Story's Recent Activities and Innovation (11:09) Origin Story and Growth of New Story (14:05) New Story's "Crazy Until It's Not" Mantra and Pursuit of Innovative Ideas (22:32) Sponsor: NFX Podcast Promotion (23:03) Influence of Community and Network on Aspirations (24:10) New Story's Culture, Values, and North Star Metric (32:29) Intersection of Web 3 and Real Estate Financing (38:09) Future Plans for New Story, Scaling Up Web 3 Use Cases and NFTs for Nonprofits (43:14) Closing Thoughts with Pete Flint and Episode Wrap-Up

The Inside Story of Nextdoor with Sarah Friar Nov 18, 2021

In this episode, Pete Flint converses with Sarah Friar about her career and the COVID impact on Nextdoor. They discuss crisis leadership, the power of storytelling, the evolving landscape of social networks, and building network effects in localized businesses. The conversation also touches on balancing growth, community engagement, new technologies' potential consequences, and different ways for a company to go public.

Nextdoor, the social media app for neighborhoods, which is actively used in 1 in 3 households in the U.S., was recently valued at $4.3B and listed on the NYSE last week (November 8, 2021) under the ticker symbol "KIND."

Today’s episode is a glimpse into the thoughtful, humanist view of Sarah Friar, the CEO of Nextdoor, former CFO of Square, and board member of Slack. She cautions us not to disappear into the metaverse, and also encourages today’s and tomorrow’s Founders to cure gaps in the world — and do it with eyes wide open to consequences at scale.

There’s more tension than there is harmony between “offline vs. online,” and yet one company is uniquely positioned to bridge the two for the benefit of us all.

(0:00) Introduction and Sarah Friar's career journey (7:33) The impact of the COVID pandemic on Nextdoor and crisis leadership (15:13) Nextdoor as a purpose-driven company and the power of storytelling (22:32) Sponsor message (23:27) The changing landscape of social networks: the metaverse and community (29:09) Building network effects in localized businesses and overcoming the cold start problem (37:44) Balancing growth and community engagement, and the potential consequences of new technologies (41:50) Different ways a company can go public and understanding the business before IPO (47:41) Closing remarks and thanks to Sarah Friar

Building Confidence Networks In Latin America Nov 10, 2021

In this episode, James Currier chats with Antonio Rojas, discussing his role at LVP and their focus on LatAm. They delve into Antonio's investment experience, the importance of entrepreneurial networks in Mexico, and the impact of increasing valuations in LatAm. They also discuss international outreach, unique challenges, the rise of web 3, and the potential of investments to influence societal change.

NFX has been increasingly active in LatAm over the last few years, largely drawn there by an incredibly talented pool of Founders in the region. To understand the unique challenges and opportunities of LatAm, James talked with Antonia Rojas, the youngest female partner at ALLVP and a rising star in the startup ecosystem there. They co-led the Nuvocargo Seed round together.

Based in Mexico City, she has a “boots on the ground” view of Latin America that I love. Methods for building network effects there is not what one might think -- and as a result, go-to-market in Latin America demands building trust bridges and leveraging confidence networks. Understanding the psychology of LatAm consumers is a powerful unlock for new Founders entering the region.

(0:00) Introduction to the NFX podcast and guest Antonio Rojas (1:19) Antonio's role at LVP and their focus on Spanish speaking LatAm (4:07) Antonio's investment experience and perspective on VC in LatAm (9:47) Importance of fostering entrepreneurial networks in Mexico and standout tech companies (14:06) Impact of increasing valuations and funding challenges for middle-level companies in LatAm (18:16) Outreach from international investors and how to connect with NFX (21:57) Unique challenges and cultural understanding in the LatAm market (25:12) The rise of web 3, Antonia's investment focus, and chosen sectors in LatAm (30:05) Potential of investments to influence societal change and digital trends in LatAm (34:51) Future of solutions built on the data from digitization in LatAm and wrap-up

Eynat Guez & Gigi Levy-Weiss on 7 Mental Shifts For Hiring Now Oct 28, 2021

In this episode, Gigi Levy-Weiss converses with Eynat Guez about the effects of remote work on global hiring and company culture, the influence of a founder's personality on recruitment strategies, and the challenges in automating processes. They discuss the importance of early planning in startups, the potential impact of crypto on payroll, and the transition from founder to CEO. They also touch on balancing personal life with startup demands and the role of female leadership in tech.

The Covid pandemic removed barriers to global hiring and remote team building. It exposed startups, by necessity, to all-new solutions for growing and bonding their teams. Most companies advanced through the pandemic by stages: first survival mode, then waiting it out -- and now they are ready to fundamentally shift their hiring strategies to reflect our new reality. It’s clear now that there are lasting shifts in the market, and that Founders and CEOs need to update their mental models for hiring. Our guest today, Eynat Guez, sees this recent change in strategy more clearly than most. She’s the Co-Founder and CEO of Papaya Global, a global people & payroll platform, now valued at $3.7 Billion. Eynat is also the first-ever female CEO of a unicorn company in Israel. Her insights on hiring are twofold. First, she builds from her own experience rapidly scaling her global team to unicorn status during the pandemic. Second, from working directly with Papaya’s clients to grow their teams. Today she shares with us her set of mental models for building a world-class team -- wherever it may be.

(0:00) Introduction to the podcast and guest, Eynat Guez (4:36) The impact of remote work on global hiring and company culture (15:02) The role of founder's personality in shaping company's DNA and recruitment strategies (27:18) Overcoming challenges in automating processes and the importance of customer experience (38:51) The significance of planning ahead in early-stage startups and the potential impact of crypto on payroll (47:06) Transition from early founder to unicorn CEO and managing growth in startups (54:06) Balancing personal life with the demands of a startup and the importance of female leadership in the tech ecosystem (57:26) Closing remarks and future prospects for Eynat Guez's next startup

Community-First Company Building with Cuy Sheffield & Micah Johnson Oct 21, 2021

In today's episode, NFX Partner Morgan Beller talks with Cuy Sheffield (head of crypto at Visa) and Micah Johnson (Bored Apes, CryptoPunks, and Aku and former professional baseball player) as they explore tactics for building community, no matter what industry you’re in. Listen to their conversation as they uncover why Founders can’t skip the community-building part anymore, as it’s essential to company building in today's ecosystem.

The next evolution of companies will be created in public with early customers, partners, and supporters. They’ll be community-owned and operated, building upon the playbooks created by early NFT and play-to-earn projects. Because many of the web 3.0 advantages are hard to adopt as a large web 2.0 company, as a Founder you have to focus on the big ideas: ownership, collaboration, and community.

(0:00) Introduction to the NFX Podcast and guests Kai Sheffield and Micah Johnson (1:22) Journey into the crypto space and transition from professional careers to NFTs (3:54) Discussion on NFTs, the black crypto art movement, and comparison to traditional art (10:38) Discussion on NFTs in the context of art and the power of collaboration in NFTs (15:23) Managing a community as a creator: challenges and opportunities (19:10) Shift from traditional business models to community-led product development in the crypto space (23:30) Shift from fleeting internet interactions to committed engagements through NFTs and tokens (26:56) Shift from eyeball metrics to commerce metrics in Web 3 and the digitization of supply chain (33:11) Emphasizing core values in Web 3 and the rise of crypto creators (36:39) Importance of community engagement and the challenges of scalability in community management (41:56) Setting good principles as a founder and thoughts on accessibility in the crypto space (44:57) Using IP to make crypto more accessible and sharing upcoming Aku milestones (46:50) End of episode and closing remarks

A Founder’s Exponential Toolset with Azeem Azhar & James Currier Sep 14, 2021

In this episode, Azeem Azhar and James Currier discuss exponential growth in technology, the Internet's role in accelerating advancements, and the societal implications. They also delve into the concept of regulatory innovation, the impact of fast-paced tech development, health data sharing, and the integration of crypto in various industries.

Visionary Founders, instead of solving market failures or fixing problems that are clear, push market evolution. They commit to pushing society to the upward bend of the exponential technology curve.

Today, our friend Azeem Azhar, former VC-backed Founder, creator of The Exponential View blog, and author of the new book The Exponential Age, gives Founders specific hooks and non-obvious ways of explaining how quickly something’s going to change — right before it does.

For Founders, market needs are often a lagging indicator of technological progress. In many cases, like the iPhone, we didn’t even know that we needed a thing, until the thing made us want it.

Read the full NFX Essay here - https://www.nfx.com/post/exponential-age/

(0:00) Introduction and Background of Guest Azeem Azhar (3:31) Discussion on Exponential Growth and Technologies (10:23) Insight into Azeem's Investing Strategy and Understanding of Moore's and Wright's Laws (17:23) Role of the Internet in Accelerating Tech Advancements and its Influence on Various Sectors (24:09) Societal Implications of Technology Development and the Clash between Government and Entrepreneurs (31:16) Concept of Regulatory Innovation and Sandboxes for Startups (34:03) Impact of Fast-Paced Technology Development on Society and Participation in Technology Discussions (36:22) Potential of Health Data Sharing and Roles of Government and Industry in Data Sharing Initiatives (40:23) Integration of Crypto in Various Industries and its Implications (44:15) Book Recommendations and Advice for Entrepreneurs

NFXBio: Inside a Scientist-Founder’s Journey from Pre-Seed to Series D Sep 09, 2021

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Today, Mammoth Biosciences announced their series C and D at more than a $1B valuation. Mammoth is a startup story that Founders should be following because there is so much to learn from their path from the lab to unicorn status. At no other time in modern history has the need for science to lead our society toward a better future been more apparent and immense. We can meet this need by investing in the next generation of tech-bio companies like Mammoth.

NFX led Mammoth’s Pre-Seed and Seed rounds, co-led the Series A, and has invested in every round including today’s Series D. We even helped them name the company. Mammoth is the poster child for the NFX strategy of using network effects to build bio platforms — this approach to building tech-bio businesses should allow them to get 10x the size of a normal bio company. It’s also a great example of how NFX Bio supports Scientist-Founders as they become great Founders and CEOs after they leave the lab.

Listen in with Omri Drory, head of NFX Bio, and Partner James Currier as they take an inside look with Mammoth’s Co-Founder & CEO Trevor Martin at his journey from idea to unicorn — for the benefit of up-and-coming Scientist-Founders worldwide.

(0:00) Introduction and overview of Mammoth Biosciences (1:46) Understanding the scale and size of Mammoth Biosciences (3:27) The evolution and expansion of CRISPR protein families (6:02) Announcement of Mammoth's series D financing and journey of the company (9:11) The potential impact and challenges of Mammoth Biosciences (11:10) Mammoth's partnerships and commitment to building products (14:13) Recollection of the beginnings of Mammoth Biosciences (17:37) Advice for aspiring scientist founders (22:15) The role of the team in startup success and the future of Mammoth Biosciences (24:02) Introduction of new team member and reflection on Mammoth's journey (26:19) Celebrating series D success and closing remarks

Choosing The Final Frontier: Launching a Rocket Company with Andy Lapsa of Stoke Space Aug 04, 2021

Today NFX Partner Morgan Beller is joined by Andy Lapsa, Co-Founder & CEO of Stoke Space Technologies, a company building reusable second-stage rockets to seamlessly Earth and orbit. Founded in 2019 and based in Renton, Washington they have been focused on the reusability aspect of rocketry to make space access more available and frequent in our future lives. Lapsa was a former employee and award-winning rocket engineer at Bezos's Blue Origin, while the rest of their team come from SpaceX and other leading aerospace companies.

"We have all the technical and economic ingredients needed to build a massive economy in space. We’re not focused on Mars or the Moon, we’re singularly focused on building a space economy that makes life better on Earth.”

Today NFX Partner Morgan Beller is joined by Andy Lapsa, Co-Founder & CEO of Stoke Space Technologies, a company building reusable second-stage rockets to seamlessly Earth and orbit. Founded in 2019 and based in Renton, Washington they have been focused on the reusability aspect of rocketry to make space access more available and frequent in our future lives. Lapsa was a former employee and award-winning rocket engineer at Bezos's Blue Origin, while the rest of their team come from SpaceX and other leading aerospace companies.

As a lead investor, Morgan uncovers how they originally met, Andy's full Founder journey, why space is such an important industry to apply talented engineers to, and his overall decision to enter one of the most complex sectors in the world of tech.

Visit their website - https://www.stoke-space.com/

(0:00) Introduction and guest Andy Lapsa's background (4:19) Reflection on the 1960s space race and its impact on today's space industry (7:23) The role of global connectivity, Earth observation, and outsourcing in space (10:16) Stoke's role in the future of affordable and easy space travel (14:38) The emerging market of small satellites and Stoke's focus (18:51) Sponsor: NFX (21:19) The potential of space manufacturing and Stoke's opportunity (25:21) The journey of building Stoke and the shift in innovation in the space industry (29:08) The impact of climate change on the space exploration industry (32:24) The existential threat and potential for collaboration in space exploration (37:18) Making space exploration accessible for all and envisioning the future consumer phase (40:22) Wrap up and closing remarks

The Founders' List: Status, Wealth, & Power: Network Effects Demand A New Social Contract Jul 30, 2021

In this episode, James Currier delves into the concept of network effects, its impact on status, wealth, and power, and the emergence of the network economy. Using Facebook as a case study, he discusses the dominance of network effect businesses. He also explores the acceleration of the network economy through cryptocurrency. The episode further examines the Matthew Principle and how network economy influences various fields, including education and real estate. James concludes with a discussion on the evolving social contract in the network economy and the roles of governments and companies.

This is The Founders’ List – audio versions of essays from technology’s most important leaders, selected by the founder community.

Network effect businesses are reshaping the world. Network effects are still the best and most powerful force we know to create persistent value for billions of people. However, we think that too little has been said about how society should adapt to these new network effect behemoths we’re helping create.

NFX Partner James Currier outlines how the network economy works, and how power, wealth, and status all flow on the network. He then looks at the implications of this and finally specific ideas for Founders about what these new social contracts could look like.

Read the full NFX essay here - https://www.nfx.com/post/network-economy/

(0:00) Introduction to the episode (0:14) Exploring network effects: Status, wealth, and power (1:44) Understanding the network economy and its emergence (4:05) Dominance and power of network effect businesses: Facebook example (6:17) Acceleration of the network economy through cryptocurrency and its impact (11:06) The Matthew Principle and examples of the network economy in various fields (14:15) Influence of the network economy on education, real estate, and Uber drivers (18:11) Positives and negatives of the network economy: Improved odds, access, and challenges for edge nodes (20:10) The evolution of the social contract in the network economy (24:52) The role of governments and companies in the network economy (30:06) Conclusion: Responsibility of world-class founders in setting new social contracts

NFX Mashup: The SPAC Masterclass Jul 29, 2021

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This is an NFX Mashup, where we string thoughts from past episodes together under the same topic.

Startups today have more options than ever before — much earlier in their life cycles — for entering the public markets. Founders are constantly looking for advice on how to think about traditional IPO vs. SPAC vs. direct listing — and how to even answer the question: Am I ready to be a public company?

In this mashup, NFX Partner Pete Flint is joined by Eventbrite co-founder Kevin Hartz, Hippo founder Assaf Wand, and the IPO whisperer Lisa Buyer on their experience and advice around taking tech companies public.

Meet the Team Behind 'Stoner Cats' (NFT Animated Series from Mila Kunis & Friends) Jul 23, 2021

In this episode, Morgan Beller, Mack Flavelle, Lisa Sterbakov, and Maaria Bajwa discuss the use of Non-Fungible Tokens (NFTs) and their application in the Stoner Katz Project. They delve into the benefits of NFTs for creators, the community aspect of the project, and the risks and potentials of using NFTs as access tokens. The conversation also touches on the impact of NFTs on Hollywood and the challenges of content selection in the industry.

'Stoner Cats' is an adult animated series centered on five house cats who repeatedly save their beloved owner created by Mila Kunis, Ashton Kutcher, and friends, including the creative forces behind Toy Story 2, Spider-Verse, Happy Feet, and Cryptokitties.

Users will be able to buy Stoner Cats NFTs and can use those tokens to access the comedy cartoon online. The show will be an estimated five minutes long per episode. The tokens purchased will go toward funding future episodes of the series.

Today we have part of the Stoner Cats founding team including Morgan Beller (NFX Partner), Maaria Bajwa (Sound Ventures), Mack Flavelle (CryptoKitties), and Lisa Sterbakov (Orchard Farm Productions) to discuss the origin story of the show and the new future for content creation in Hollywood.

Visit the site to learn more and buy an NFT - https://www.stonercats.com/

(0:00) Introduction to The NFX Podcast and Guest Introductions (3:24) Non-Fungible Tokens (NFTs): Explanation and Use in Stoner Katz Project (7:19) The Genesis and Collaboration of Stoner Katz Project (15:02) The Benefits of NFTs for Creators and Artists (18:05) Unique Artwork and Community Aspect in Stoner Cat NFT Project (21:26) Risks and Potentials of Using NFTs as Access Tokens (30:59) Sponsor Message (31:33) Impact of NFT on Hollywood and the Entertainment Industry (37:13) The Process and Challenges of Content Selection in Hollywood (45:06) Balancing Control and Innovation for the Future of Technology (50:36) Closing Remarks and Podcast Outro

Ann Hiatt on Trillion Dollar Leadership (An Inside Look at Jeff Bezos & Eric Schmidt) Jul 22, 2021

In this episode, James Currier interviews Ann Hiatt, discussing her experiences at Amazon, Google, and Yahoo, the importance of 'glue people' in tech, and her transition from Amazon to Google. They explore key strengths for success, characteristics of successful CEOs, and the importance of team dissent. Insights on mission statements, value-alignment hiring, and building significant companies are shared. The episode concludes with a discussion on Hiatt's book "Bet on Yourself".

What few people see is that Trillion-Dollar Leadership focuses relentlessly on the “who.” Jeff Bezos and Eric Schmidt both aligned their companies around this question: Who are we serving and who is going to get us there?

Today, Ann Hiatt (former Chief of Staff / Executive Business Partner to Bezos and then Schmidt for 14+ years) shares with NFX Partner James Currier her insider stories, analysis, and patterns of Bezos' and Schmidt's leadership principles and mental models. She gives us intimate insight to:

- What crazy, long-term vision looks like, even in its earliest days
- 3-part framework for value-alignment in $Trillion teams
- How to hire and motivate people who will invent the future
- Tthe leadership mental models she learned from working directly with Jeff Bezos and Eric Schmidt, for the benefit of Founders everywhere.

Read the NFX essay here - https://www.nfx.com/post/trillion-dollar-leadership/

(0:00) Introduction and guest background: Ann Hiatt (1:37) Ann's experience in Silicon Valley and roles at Amazon, Google, and Yahoo (8:28) The importance of networking and the role of 'glue people' in tech companies (16:57) Transition from Amazon to Google and first impressions (22:25) Key strengths for success: detail orientation, anticipation, and calm under pressure (29:16) Sponsor message (31:09) Common characteristics of successful CEOs and the importance of dissent in teams (34:21) Launch of Amazon Prime and Jeff Bezos's negotiation tactics (38:08) Insights on mission statement, hiring for value alignment, and building a significant company (42:14) Ann Hiatt's new book "Bet on Yourself" and advice on career growth (47:18) Closing remarks and the NFX philosophy

The Founders' List: Vitalik Buterin on Bitcoin Maximalism, Currency, and Platform Network Effects Jul 21, 2021

In this episode, NFX delves into Bitcoin dominance, new crypto protocol creation, and the intricacies of side chains and Ethereum smart contracts. They explore network effects in a crypto economic context, discuss the downsides of side chains, and examine the power of currency network effects. The concept of US Beller stablecoin maximalism is explored, alongside Blockstream's funding strategies and Hayekian currency competition.

This is The Founders’ List – audio versions of essays from technology’s most important leaders, selected by the founder community.

In this article (published in 2014) Ethereum creator Vitalik Buterin challenges the Bitcoin maximalist movement a few different ways. Bitcoin maximalists believe that all other digital currencies are inferior to Bitcoin. The idea that an environment of multiple competing cryptocurrencies is undesirable and that it is both righteous and inevitable that the Bitcoin currency comes to take a monopoly position in the cryptocurrency scene.

Maximalists argue that a single road—or a single cryptocurrency—will have more value because more people will have to use it.

Vitalik does a deep dive into the technicals of launching a protocol, the network effects that take place, and the incentive/psychological arguments that can be had against the maximalist movement.

Read the essay here - https://blog.ethereum.org/2014/11/20/bitcoin-maximalism-currency-platform-network-effects/

(0:00) Introduction to the episode (0:15) Discussion on Bitcoin dominance and new crypto protocol creation (3:15) Exploration of side chains and counterparty's Ethereum smart contracts (6:06) Analysis of network effects in a crypto economic context (13:57) Discussion on the downside of side chains and proof of stake (16:13) Examination of the power and limitations of currency network effects (18:43) Concept of US Beller stablecoin maximalism and the case against transaction fees (20:15) Incentive and psychological arguments for multiple crypto fuels (23:23) Overview of Blockstream's funding strategies and issues with crypto 2.0 companies (26:54) Discussion on Hayekian currency competition, future of volcoins, and potential issues with pre-mining and presales (29:52) Closing remarks and information about NFX podcast

Making Markets with Prof. Scott Duke Kominers (HBS) & James Currier Jul 19, 2021

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Over the past twenty years, tech entrepreneurs have created and captured enormous value by launching new marketplaces to the world.

Today NFX Partner James Currier talks with Professor Scott Duke Kominers, who has been teaching the course 'Making Markets' along with other classes at Harvard Business School. With over 80 academic papers published, he is in the MBA Class of 1960 Associate Professor of Business Administration in the Entrepreneurial Management Unit, as well as a Faculty Affiliate of the Harvard Department of Economics, the Harvard Center of Mathematical Sciences & Applications, and a Research Economist at the National Bureau of Economic Research.

Scott's course helps students identify and capitalize on marketplace design opportunities. James and Scott discuss attributes that determine whether and how marketplaces create value in the world as well as common causes of marketplace failure. They then present frameworks for designing marketplaces in response and discusses tactics for building trust and liquidity when launching new marketplaces.

This is the ultimate course on marketplaces.

Read the NFX essay - https://www.nfx.com/post/scott-duke-kominers/

The Founders' List: How VCs See Your KPIs Jul 17, 2021

In this episode, NFX discusses the crucial role of Key Performance Indicators (KPIs) in startups. They delve into the significance of daily reports, introduce a KPI checklist, and guide on developing precise, measurable KPIs. The episode also explores the importance of time-specificity, actionability in KPIs, and benchmarking against competitors.

This is The Founders’ List – audio versions of essays from technology’s most important leaders, selected by the founder community.

Everyone knows that KPIs are critical, but often Founders are not looking at KPIs from the right angle. As a General Partner at NFX, Gigi Levy-Weiss now asks three questions to every Founder he meets. Their responses speak volumes about their odds of success:

- Do you diligently track KPIs?
- What KPIs have you chosen to track?
- Have you set appropriate goals based on your KPIs?

Read the full NFX Essay here - https://www.nfx.com/post/how-vcs-see-your-kpis/

(0:00) Introduction (0:14) Discussing the Importance of KPIs for Startups (0:51) Significance of Daily Reports in Monitoring Key Numbers (1:45) Introduction to the KPI Checklist (3:07) Developing Precise and Measurable KPIs (5:12) The Role of Time Specificity and Actionability in KPIs (7:24) Benchmarking Against Competitors (8:05) Conclusion and Preview of Next Episode

The Founders' List: The New Generation of Labor Marketplaces and the Future of Work Jul 15, 2021

In this episode, Pete Flint delves into the shifting landscape of the labor market, the rise of the talent economy, and the future of labor marketplaces. He explores topics such as verticalization, transaction ownership, job tenure and scarcity, reskilling, upskilling, and success factors for building labor marketplaces. He also discusses the transformative potential of labor marketplaces during a crisis and the current climate for building them.

This is The Founders’ List – audio versions of essays from technology’s most important leaders, selected by the founder community.

When the economy eventually normalizes, demand for labor will recover, and work will recover, but the shifts in supply and demand will result in a new and sizable set of unmet market needs for job placement.

Online marketplaces will be a critical tool in getting people back to work quickly, efficiently, and at scale. They will also enable new ways for people to build the skills they need to succeed, and for them to work in an increasingly remote and distributed fashion.

Listen to Pete Flint's essay on the 4 trends in the next generation of online labor marketplaces, including greater complexity, improved experience, tech-enabled labor, and re-skilling and upskilling.

Read the full NFX essay here - https://www.nfx.com/post/labor-marketplaces/

(0:00) Introduction (1:23) Opportunities in the Changing Labor Market (3:09) Rise of the Talent Economy and Future of Labor Marketplaces (7:09) Verticalization and Transaction Ownership for Improved User Experience (10:08) Role of Job Tenure and Scarcity in Labor Marketplaces (12:03) Reskilling and Upskilling in Labor Marketplaces (14:18) Success Factors for Building Labor Marketplaces (16:07) Transformative Potential of Labor Marketplaces in Crisis (17:06) Building Labor Marketplaces in Current Climate (17:19) Closing Remarks and Promotion of the NFX Podcast

Seeing Growth in a Downturn with Eran Ben-Shushan & Gigi Levy-Weiss Jul 12, 2021

In this episode, Eran Ben-Shusham, a seasoned entrepreneur, shares his company's journey through a business model pivot. He discusses the critical role of speed, execution, and strong company culture during a crisis. The conversation also delves into the shift towards virtual events, dealing with new customer needs, and the challenges of scaling during a pivot. Additionally, Eran speaks on the emotional impact of a disappearing core business and the importance of maintaining company values throughout the transition.

In the face of a global pandemic and a financial meltdown, Founders are confronted with a new reality. If you are running a startup today, this will likely be one of the most challenging climates you’ll ever face.

Launched in July 2012, Bizzabo is a SaaS All-in-One event success platform. They help organizers create successful events by empowering them to build amazing websites, sell tickets, grow communities, go mobile and maximize event experiences - using a beautiful, user-friendly platform. Despite Covid canceling all conferences and in-person events, Bizzabo was able to complete a funding round of $138 million.

NFX Partner Gigi Levy-Weiss talks with Bizzabo Co-Founder & CEO Eran Ben-Shusham about their strategy during COVID including customer acquisition, fundraising, and overall growth during the downturn. Eran shares his mindset as a company leader and how he and his team navigated the crisis to come out the other side ahead in hypergrowth mode.

Read the NFX article here - https://www.nfx.com/post/bizzabo

(0:00) Introduction to the NFX Podcast and guest interviewee, Eran Ben-Shusham (1:40) Discussion on Eran Ben-Shusham's company's initial product and business model pivot (6:09) The importance of speed, execution, and company culture during a crisis (10:30) Shift towards virtual events and understanding new customer needs (17:09) Challenges and strategies of operating at scale during a pivot (25:19) Sponsor: NFX (25:39) Emotional impact of a core business disappearing and shifting mindset to see opportunities (39:43) Importance of company values, culture, and communication in crisis management (52:40) Transitioning from defense to offense and adapting to changing business environment (1:03:50) Maintaining company's core mission and culture despite the pivot

The Founders' List: 8 Skills Top Founders Master for Startup Fundraising (How VCs Negotiate) Jun 30, 2021

In this episode, NFX explores the art of VC negotiations, discussing how to communicate your valuation and handle low baller offers. They delve into talking in pre-money valuation during startup fundraising, ESOP allocations, and distinguishing leaders from followers. Additionally, they emphasize the power of controlling the deadline and the role of self-awareness in fundraising negotiations.

This is The Founders’ List – audio versions of essays from technology’s most important leaders, selected by the founder community.

Fundraising is a learned skill – and VCs almost always have the upper hand because they deal with it all day, everyday. Over the years of founding, advising, and investing in companies, Gigi has learned that VCs are better at startup fundraising than entrepreneurs. In reality, knowing what to expect from VCs – the negotiation dynamics Founders are likely to encounter – is half the battle.

Before you start communicating with VCs, take the time to learn how to detect and manage these 8 little-known fundraising dynamics. This is what we at NFX call “high leverage fundraising” – it gives you speed & clarity, while still helping cultivate strong, long-term relationships. Let’s dig in.

Read the full NFX Essay - https://www.nfx.com/post/8-top-skills-founders-startup-fundraising/

(0:00) Introduction and Overview (1:03) Mastering VC negotiations: Avoiding the portfolio company opinion (2:38) The art of communicating your valuation (3:48) How to handle the low baller offer (5:54) Talking in pre-money valuation during startup fundraising (7:43) Understanding ESOP allocations (9:25) Distinguishing the leaders from the followers (10:51) The power of controlling the deadline (13:03) The role of self-awareness in fundraising negotiations (13:29) Conclusion and sign off

The Founders' List: 7 Principles of Game Design from Design Gym Jun 29, 2021

In this NFX Podcast episode, the discussion centers on the importance and ubiquity of game design. The team delves into the principles of innovation, objectives, constraints, and success criteria in game design, followed by an exploration of reward systems, play's role, and competition in game design.

This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

Life is, by some measures, an infinite game, where the rules constantly change and winners turn into losers, and vice versa. This article is titled, “7 Principles of Game Design” and was written by The Design Gym - an NYC-based agency that has worked with top companies like Instagram, Netflix, Etsy, and many more.

Setting up games, with clear goals and constraints helps focus our energies and efforts and can improve and clarify outcomes and motivate us to move forward to the next clearly defined challenge and reward cycle.

Read the essay here - https://www.thedesigngym.com/seven-principles-of-game-design-and-five-innovation-games-that-work/

(0:00) Introduction (0:14) The Importance and Ubiquity of Game Design (1:19) Principles of Game Design and Innovation (2:32) Objectives, Constraints, and Success Criteria in Game Design (3:28) Reward Systems and the Role of Play in Game Design (4:16) Competition in Game Design and Conclusion

How a Top Investor Sees the World with Saar Gur Jun 28, 2021

In this episode, James Currier converses with guest Saar Gur about his entrepreneurial journey in Silicon Valley. They discuss Saar's transition from entrepreneur to venture capitalist, his approach to investing, and the importance of emotional connection. They delve into Saar's successful investments in DoorDash and Patreon, the power of creators, and the potential in Patreon. The conversation also covers identifying investment opportunities through Reddit communities and crypto movements, characteristics of successful founders, and a case study on Ring's evolution.

Saar Gur is one of the best investors in Silicon Valley and has a gift of identifying the next big consumer trends earlier than most. As a General Partner at CRV, he was recently highlighted as #34 in the Forbes Midas List of the World's Best Venture Capital Investors In 2021. Saar loves products that consumers and customers love and is passionate about helping his companies succeed.

His early investment in the food delivery company DoorDash was in the 2013 seed round, which eventually resulted in the company going public last December. Gur made a similar early bet on smart home company Ring the same year; Amazon acquired that company for $1 billion in 2018. Gur is also an investor in multiple fast-growing tech startups like Patreon, which is now worth $3 billion, and Classpass, which is worth more than $700 million. Others include Niantic, Bird, and Dropbox.

Today, longtime friend and NFX Partner James Currier talks with Saar to uncover these early investment stories and his pattern recognition in early-stage founders. James also uncovers who he is as a person, what he looks for in early-stage Founders, and how he sees the world as a whole.

(0:00) Introduction to the NFX podcast and guest Saar Gur (4:55) Saar Gur's entrepreneurial journey in Silicon Valley and the dot com era (8:32) Saar Gur's transition from entrepreneur to venture capitalist (15:24) Saar Gur's approach to investing and the importance of emotional connection (18:12) Saar Gur's successful investments in DoorDash and Patreon (25:20) The power of creators and the potential in Patreon (32:36) Identifying investment opportunities through Reddit communities and crypto movements (36:25) Characteristics of successful founders and the importance of original product thought (37:48) Case study: The evolution of Ring from DoorBot to a home security company (39:26) Outro: NFX's mission and call to action for listeners

NFXBio: Why C2i is the World’s First Platform for Cancer Intelligence Jun 25, 2021

In this episode, James Currier and Omri Amirav-Drory delve into synthetic biology and tech bio, introducing guest Asaf Zviran, CEO of C2I. They discuss the impact of tech bio on industries, strategies for hiring and fundraising in a virtual world, and the balance between science and business in startups. They also explore the future of cancer treatment and provide valuable advice for startup founders.

The team at C2i Genomics is combining cutting-edge genomics and sophisticated AI to provide the world’s first whole-genome cancer intelligence platform, transforming the way cancer is monitored and treated.

C2i uses a blood test that can detect and quantify tiny amounts of residual cancer to better monitor cancer treatment, progression, and recurrence. NFX was an early stage investor in C2i due to their long-term vision and world-changing technology.

Listen to NFX Partner Omri Amirav-Drory talk with Asaf Zviran, Co-founder & CEO of C2i Genomics, about the future of their company, their latest technological breakthroughs, and where the industry is headed in the near future.

Asaf and Omri's conversation begins at 11:15

Visit C2i to learn more - https://c2i-genomics.com/

(0:00) Introduction and Discussion on Synthetic Biology and Tech Bio (1:24) Introduction to Omri Amirav-Drory and NFX Bio (3:03) Impact of Tech Bio on Various Industries and Future Developments (6:28) Introduction to Pete and Liquid Biopsy for Cancer Monitoring (11:18) NFX Bio Investment Thesis and Conversation with Asaf Zviran, CEO and Founder of C2I (25:23) Asaf Zviran on Managing a Diverse Team and Overcoming Challenges (29:43) Hiring, Recruiting, and Fundraising Strategies in a Virtual World (31:20) Balancing Science and Business in a Startup and Transition from Academia to Industry (38:07) End of Part 1 and Transition to Part 2: Series B Funding and Scaling Up (41:46) Overcoming Challenges in Bio Startups and Future of Cancer Treatment (44:51) Advices for Startup Founders and Quick-fire Round (48:25) Closing Remarks and End of Episode

Tony Fadell on Learning To See, Telling Stories, & Being A Troublemaker Jun 22, 2021

In this episode, Tony Fadell and Pete Flint discuss the role of fresh perspectives in entrepreneurship and how climate change can be addressed as a design problem. They explore the importance of storytelling in startups, the iterative process of startup development, and the value of learning from failure. The conversation also covers reflections on the product design process and the relationship between constraints and creativity.

It’s not often you get to see through the eyes of someone who created a product that you and hundreds of millions of other people use, hundreds of times a day, every single day, and have for a decade or more.

Tony Fadell is the legendary inventor of the iPod, co-inventor with Steve Jobs of the iPhone, and Founder of Nest. Now he is the Principal at Future Shape, an investment and advisory firm coaching over 200+ startups.

There’s almost an infinity of things to learn from Tony, but what we most wanted to uncover are his product frameworks and first principles for design. How can Founders think about designing products that are both high-utility and beloved -- that achieve dent-in-the-universe levels of adoption?

As Tony puts it: For truly great designs, 50% of the design is the design. 50% of the design is the story behind the design.

And it all begins with re-learning how to see.

(0:00) Introduction and guest Tony Fadell (3:01) The role of naivety and fresh perspective in entrepreneurship (8:15) Addressing climate change as a design problem and the role of storytelling (14:25) Learning from the pandemic and the relationship between constraints and creativity (20:00) The importance of storytelling in startups and decision making (23:04) The iterative process of startup development and assisting founders (35:21) The importance of being a troublemaker and learning from failure in entrepreneurship (44:17) Reflections on product design process, sprints, and failure modes

The Founders' List: Shishir Mehrotra with an Inside Look at How YouTube Scaled (Rituals for Hypergrowth) Jun 17, 2021

In this episode, Shishir Mehrotra shares insights from his time at YouTube, discussing team structure, cross-functional coordination challenges and best practices. He delves into the specifics of meeting cadences, effective communication methods, and the art of canceling unnecessary meetings.

This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

When Shishir Mehrotra left YouTube in 2014, a number of other company leaders wanted to understand how YouTube worked from the inside. He wrote this article summarizing their key rituals in a stage of hypergrowth. This article was originally published in 2015, but has since been expanded upon by Shishir.

Read the full essay here - https://coda.io/@shishir/rituals-for-hypergrowth-an-inside-look-at-how-youtube-scaled

(0:00) Introduction (1:02) Inside YouTube: Team structure and integration into Google (3:01) Overcoming cross-functional coordination challenges (4:32) Culture, rituals, and best practices at YouTube (6:52) Cadences and meetings: The YouTube way (10:20) Effective communication: From meeting readouts to email broadcasts (11:10) The art of canceling unnecessary meetings (11:24) Conclusion and outro

Super Founders with Ali Tamaseb & James Currier Jun 15, 2021

In this episode, James Currier converses with guest Ali Tamaseb about his book "Super Founders", discussing the methodology and data collection process. They delve into the impact of socioeconomic diversity among founders, the correlation between success and academic or career history, and the venture capitalism game. Insights on overcoming narrative bias, the value of small failures, and the role of faith and adaptability in venture capitalism are also explored.

What started as a viral medium article from two years ago has now turned into 'Super Founders', a book on what data reveals about billion-dollar startups. Today on the NFX Podcast we have Ali Tamaseb (partner at DCVC) talking with James Currier about his data-driven approach to understanding what really differentiates billion-dollar startups from the rest.

The book includes exclusive interviews with the founders/investors of Zoom, Instacart, PayPal, Nest, Github, Flatiron Health, Kite Pharma, Facebook, Stripe, Airbnb, YouTube, LinkedIn, Lyft, DoorDash, Coinbase, and Square, venture capital investors like Elad Gil, Peter Thiel, Alfred Lin, and Keith Rabois.

Ali Tamaseb has spent thousands of hours manually amassing what may be the largest dataset ever collected on startups, comparing billion-dollar startups with those that failed to become one—30,000 data points on nearly every factor: number of competitors, market size, the founder’s age, his or her university’s ranking, quality of investors, fundraising time, and many, many more.

(0:00) Introduction and Guest Introduction (2:00) Ali Tamaseb's Background and Journey (4:11) Methodology and Data Collection for "Super Founders" Book (9:51) Solving Personal Problems and Creating Narratives in Startups (14:25) Socioeconomic Diversity Among Founders and Its Impact (18:55) Correlation Between Founders' Success, Schools Attended, and Previous Workplaces (22:02) The Venture Capital Game and the Importance of Building and Selling (24:09) Wrap-up of Data Analysis and Key Findings Discussion (25:22) The Value of Small Failures and Overcoming Narrative Bias in Entrepreneurship (31:09) Inspiration for Founders and a Deeper Look into Characteristic Levels in Venture Capitalism (37:21) The Role of Faith, Acceptance of Randomness, and Adaptability in Venture Capitalism (38:13) Closing Remarks and Future Plans

Major Opportunities for Young Founders with Jon Levin, Dean of Stanford GSB Jun 10, 2021

In this episode, Pete Flint talks with Jon Levin about the career prospects for the class of 2021, emerging industries, and trends for entrepreneurs. They delve into the evolution of entrepreneurship, the societal impact of business leaders, and the shifting landscape for startup founders. They also discuss capitalism, government roles, and Stanford Business School's new task force. Lastly, they reflect on lessons from Levin's tenure as a Dean and the future of education.

Stanford GSB Dean Jon Levin joins NFX Partner Pete Flint to discuss his perspective on new Founders entering the industry, how Stanford encourages its students to solve real-world problems with technology, macroeconomics, and the overall state of capitalism.

Jon Levin started teaching at Stanford in 2000. Has been Dean of Stanford Graduate School of Business since Sept 2016 and is about to celebrate 5 years in that role. Levin received his BA and BS degrees from Stanford University in 1994, an MPhil in Economics from Oxford in 1996, and his PhD in Economics from MIT in 1999.

Pete got to know Dean Levin from being on the GSB Management Board after graduating in 2005. He has also co-taught a number of cases at the GSB.

(0:00) Introduction to the NFX podcast and guest Jon Levin (7:00) Career prospects and emerging industries for the class of 2021 (10:00) Opportunities and trends for early-stage entrepreneurs in 2021 (14:00) The evolution and diversity in entrepreneurship among students (17:00) Changing expectations on business leaders and their societal impact (18:34) Sponsor: ${name} (19:00) The state of capitalism, role of government and potential future changes (24:00) Shift in corporate objectives and the new task force at Stanford Business School (29:00) The changing landscape for startup founders and teaching disagreement in diverse teams (34:00) Lessons from five years as a Dean and the future of educational institutions (37:00) Closing remarks

The Insider Story of Waze with Noam Bardin Jun 02, 2021

In this episode, former CEO of Waze, Noam Bardin, delves into the importance of U.S. success for a global brand, his framework for assessing business ideas, and Waze's unique design strategies. He discusses the power of network effects, the impact of user activity on functionality, and the value of data in Waze's business model. The conversation also covers growth tactics after achieving product-market fit, the costs of losing focus, and understanding competitor strategies.

Underlying Waze's journey is a little-known approach to product thinking, super-powerful data network effects, and a guiding north star metric. This is Waze's insider story, as told by their former CEO, Noam Bardin.

NFX Partner Gigi Levy-Weiss recently sat down with Noam, where they discussed the step-by-step story of the company's growth, starting from their early days in 2008 with just 2,000 monthly active users, through being acquired by Google for $1B in 2013, and hitting 140M monthly active users at the time Noam stepped down in Feb 2021.

Early-stage Founders are wise to study as many successful growth stories as they can. While there is no single playbook of best practices, each case contains deeply valuable learning that we at NFX aim to pass along from Founder to Founder.

Read the full NFX Essay here - https://www.nfx.com/post/the-insider-story-of-waze

(0:00) Introduction and guest introduction - Noam Bardin, former CEO of Waze (7:36) The importance of U.S. success for a global brand and the shift to a globalized view of startups (14:29) Noam's framework for assessing business ideas and the role of user perception (16:30) The design strategies behind Waze's user interface and balancing functionality and fun (24:10) The danger of over-promising to users and addressing product flaws (27:25) The power of network effects in Waze and building the Waze map from scratch (32:21) The impact of user activity and driving habits on Waze's functionality (37:08) The value and importance of data in Waze's business model (42:25) Sponsor: ${name} (43:08) Growth tactics and strategies after achieving product-market fit and the power of innovative partnerships (51:45) The cost of losing focus and the importance of understanding competitor strategies (1:00:19) Wrapping up, final advice from Noam Bardin, and closing remarks by the NFX host

Heather Fernandez & Pete Flint on Startup Speed As A Public Good May 25, 2021

In this episode, Pete Flint, Heather Fernandez, and James Currier discuss the business model of Solve Health and its strategic approach to navigating through the pandemic. They analyze the complexities and opportunities in the American healthcare industry, the impact of regulations on innovation, and the importance of understanding supply and demand in healthcare marketplaces. The episode concludes with advice for young entrepreneurs interested in healthcare.

Speed is routinely acknowledged as a major advantage for startups. But startup speed is not sufficiently understood as an invaluable competency for society at large. Solv Health’s growth during the pandemic is a great example. Just 4 years old, the startup managed 5 million Covid tests in 2020, compared to 7 million tests by long-established CVS.

Today NFX General Partner Pete Flint is joined by Heather Fernandez, Co-Founder and CEO of Solv Health and previously a leader with him at Trulia. They analyze mental models and hard tactics for using speed to convert chaos to growth — and good.

Read the full NFX Essay here - https://www.nfx.com/post/startup-speed-as-a-public-good

(0:00) Introduction to the NFX Podcast and guest Heather Fernandez (1:11) Overview of Solve Health and its business model (9:18) Comparison of 2008 real estate crisis and COVID-19 impact on Solve Health (13:39) Strategic approach to navigating through the pandemic and changes to Solve Health's roadmap (19:12) Discussion on different risk profiles within health tech and the implications of COVID-19 for Solve Health (22:27) Analysis of American healthcare industry complexities and opportunities (28:29) Discussion on healthcare regulations and their impact on innovation (31:19) Building a healthcare startup and targeting high frequency, low fidelity healthcare services (35:36) Importance of understanding supply and demand in healthcare marketplaces (41:57) The evolution of Solv and advice for young entrepreneurs interested in healthcare (47:49) Wrap-up and conclusion of the episode.

The Founders' List: The Great Online Game by Packy McCormick May 21, 2021

In this episode, Packy McCormick shares his insights into crypto's role in the online game, its intersection with the creator economy, and the potential of DAOs. The discussion also delves into game design principles, their application to the online game, and personal experiences in the meta game.

The Great Online Game is an infinite video game that plays out constantly across the internet. It uses many of the mechanics of a video game, but removes the boundaries. You’re no longer playing as an avatar in Fortnite or Roblox; you’re playing as yourself across Twitter, YouTube, Discords, work, projects, and investments.

Packy McCormick is the founder of the Not Boring Club, a newsletter on business strategy and pop culture. This episode is narrated by Packy himself.

We were referred to this post by Li Jin, our most recent guest on the NFX Podcast. Read the full essay here - https://www.notboring.co/p/the-great-online-game

(0:00) Introduction to the episode and Packy McCormick's insights (1:34) Deep dive into crypto and its significance in the online game (2:08) Impact of social media on the great online game (4:59) Understanding successful game design and its relevance to the online game (8:02) Real-life examples of players in the great online game (11:38) Intersection of the creator economy and the great online game (13:26) Exploration of crypto's value in the online gaming community (15:20) The role and potential of DAOs in the great online game (17:24) Applying game design principles to the online game (19:20) Personal experiences and the meta game within the great online game (20:01) Podcast outro

Li Jin on The Passion Economy & Its Hidden Currency May 18, 2021

In this episode, James Currier and guest Li Jin delve into the passion economy, discussing its social implications and the role of self-promotion. They explore the involvement of Gen Z, investment dynamics, and examine case studies such as Mirror and Maven. The conversation also touches on the evolution of digital transactions, challenges in the passion economy, the impact of remote work, personal branding, and the arrival of Web 3.0.

The "Passion Economy" as coined by Li Jin makes it easier for people to monetize their individuality through unique, creative work. This comes with a host of benefits, not the least of which is the emergence of new markets, a feeling of autonomy, and intrinsic satisfaction.

To work through this and more, James Currier is joined by Li Jin herself -- former investment partner at A16Z, now Founder and Managing Partner at Atelier. They discuss how NFTs are changing the economics of the Creator Economy, what happens when everyone has to be a marketer, and how they look for ways to make platform participants into platform owners.

Read the NFX Essay here - https://www.nfx.com/post/li-jin-passion-attention-economy/

(0:00) Introduction and discussion on the passion economy with guest Lee Jin (7:19) Activism and social implications in the passion economy (10:47) The role of self-promotion and marketing in the digital age (13:50) Role of Gen Z and the dynamics of investment in the passion economy (19:15) Sponsor: NFX (20:27) Case studies: Passion economy companies Mirror and Maven (26:02) Evolution of digital transactions and key elements in passion economy businesses (31:50) Challenges and societal implications of the passion economy (35:58) The influence of remote work and personal branding in the digital age (40:01) The arrival of Web 3.0, misconceptions, and its future implications (43:29) Conclusion: Wrapping up the conversation with Li Jin

The Founders' List: Digital Natives, Digital Immigrants from Marc Prensky May 14, 2021

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

This is, ‘Digital Natives, Digital Immigrants’ written by Marc Prensky. Marc Prensky is an American writer and speaker on education. He is best known as the creator of the terms "Digital native" and "digital immigrant" which he will expand on in this famous essay. Read by NFX.

Read the full essay here - https://www.marcprensky.com/writing/Prensky%20-%20Digital%20Natives,%20Digital%20Immigrants%20-%20Part1.pdf

The IPO Whisperer Lise Buyer Talks Going Public May 11, 2021

In this episode, Pete Flint and guest Lise Buyer discuss the shift from private to public investments, the rise of mega rounds, and the appeal and risks of SPACs. They explore the impact of the Robin Hood generation on IPOs, the importance of transparency for public listings, and share Google's IPO story.

Lise Buyer, known as the IPO whisperer Pete Flint on the NFX Podcast to discuss all things taking a company public via traditional IPOs, Direct Listings, and SPACs.

Lise consulted on Trulia’s IPO in back in 2012 when Pete was CEO and Co-Founder. Previously, Ms Buyer was the Director of Business Optimization for Google Inc. where she was one of the chief architects of the company’s innovative IPO.

Lise shares her expert thoughts on:
- What has changed in public markets
- Why some companies should stay private
- When to make the decision of going public as a company leader
- What stays the same in a company after going public
- Building the infrastructure to go public
- & the differences between traditional IPO vs. Direct Listing vs. SPACs

Read the full NFX Essay here - https://www.nfx.com/post/new-world-of-going-public/

(0:00) Introduction and guest Lise Buyer's insights on public markets (7:36) Shift from private to public investments and rise of mega rounds (12:42) The Fundraising Experience and Investor Engagement in different public offerings (19:10) SPACs: Appeal, suitability, and potential risks (30:15) Sponsor: NFX social channels and website promotion (30:33) Future of public offerings and advice for startup founders (36:12) Impact of Robin Hood generation on IPOs and stock price psychology (41:48) Preparing for public listing: Transparency, disclosures, and building the right metrics (45:11) Google's IPO story: Innovations, challenges, and aftermath (51:35) Lise Buyer's career in IPOs and closing remarks

The Founders' List: The Maker Protocol Whitepaper - MakerDAO's Multi-Collateral Dai (MCD) System May 10, 2021

In this episode, guest Kristen O'Brien delves into the Maker Dow project and Dye stablecoin, explaining its protocol, collateral assets, and key external actors. Further discussions cover the Die Savings Rate, governance, risk mitigation, and emergency shutdowns. The future of the protocol and Dye stablecoin use cases are also explored.

In December 2017, the white paper introducing Maker and the original decentralized Dai Stablecoin System was published. It describes the exact design and features of the Dai launch, as well as a roadmap for the future of Dai. The Dai Stablecoin is a collateral-backed cryptocurrency whose value is stable relative to the US Dollar.

You can also listen to the Bitcoin and Ethereum white papers on The Founders’ List, at - founderslist.nfx.com

Read here - https://makerdao.com/en/whitepaper/

(0:00) Introduction to the Maker Dow project and the Dye stablecoin (4:05) Deep Dive into the Maker Protocol and Dye stablecoin (7:46) Understanding Collateral Assets and Maker Vaults in the Maker Protocol (13:41) Introduction to Key External Actors in the Maker Protocol (17:21) Discussion on the Die Savings Rate (DSR) and Maker Protocol Governance (24:12) Risk Mitigation Strategies in the Maker Protocol (27:14) Emergency Shutdown in the Maker Protocol (30:13) Future of the Maker Protocol and Use Cases of the Die Stablecoin (32:56) Outro: More about NFX Podcast

Julia & Kevin Hartz On Taking Eventbrite Public May 05, 2021

In this episode, guests Julia and Kevin Hartz join Kristen O'Brien and Pete Flint to discuss the prerequisites of going public, private vs public companies, and market trends. They delve into the world of SPACs, the process of selecting business partners, and the future of venture capital. The Hartz couple also shares insights on transitioning from executive to CEO, and reframing Eventbrite's business model.

Julia and Kevin Hartz co-founded Eventbrite, a website that allows users to create, share, and join events worldwide. In this episode of the NFX Podcast, the two join NFX Partner Pete Flint to discuss their founder journey, financing, fundraising, scaling, unicorn status, and a deep dive on the little-known details of taking a tech company public via SPAC.

Launched in 2006 and headquartered in San Francisco, Eventbrite has navigated through the pandemic with a refocused strategy and a leaner cost base. In September of 2018, Julia took Eventbrite public, making her among the few women to lead the successful initial public offering of a technology start-up.

(0:00) Introduction and welcoming guests Julia and Kevin Hartz (5:32) Discussion on the prerequisites and process of going public (12:32) Debate on private vs public companies and market trends (16:46) Exploration of SPACs and Kevin Hartz's journey into the SPAC world (21:26) Insights on choosing the right partners for a business journey and deciding between IPO, direct listing, or SPAC (31:16) The future of venture capital and challenges in finding durable businesses for SPACs (32:41) Transitioning from executive to CEO: Insights from Julia and Kevin Hartz (40:17) Reframing Eventbrite's business model and shift to investment (41:48) Closing remarks and outro

The Founders' List: Mind the Moat: Notes on 7 Powers (written by Hamilton Helmer) from Flo Crivello (Founder & CEO Teamflow) Apr 30, 2021

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

We’ve recently published a podcast and essay focused on Hamilton Helmer’s 7 Powers book, regarded as a core insight behind the success of companies like Spotify, Netflix, Stripe, and Twilio.

For this episode of the Founders’ List, we’ll be sharing notes and personal thoughts on the book titled “Mind the Moat, a 7 Powers Review” by Flo Crivelo, Founder & CEO of TeamFlow.

Read Flo's essay here - https://florentcrivello.com/index.php/2018/07/29/mind-the-moat-a-7-powers-review/

The 7 Powers with Hamilton Helmer & Jeff Lawson Apr 29, 2021

In this episode, James Currier, Jeff Lawson, and Hamilton Helmer delve into the importance of defensibility, the 7 Powers of strategy, and the role of inventiveness. They discuss network economies using Uber as a case study, examine scale economies, and explore the concept of Counter Positioning. They also discuss the challenges for incumbents adapting to new business models, the power of branding, and cornered resources. The episode ends with insights on process power and developing entrepreneurial power.

In this special NFX Podcast episode, Jeff Lawson (Co-Founder & CEO at Twilio) interviews Hamilton Helmer to analyze the 7 Powers, getting at the core question: What is it about certain businesses that keeps the force of competition away? Helmer’s framework reveals that you can intentionally craft the conditions for persistent & durable differential returns.

7 Powers is Hamilton’s cognitive guide to building an enduringly great business and breaks fresh ground by constructing a comprehensive strategy toolset that is easy for you to learn, communicate and quickly apply. Hamilton has led over 200 strategy projects with major clients such as Adobe Systems, Hewlett-Packard, Netflix, Raychem, and Spotify.

Jeff Lawson is a Co-Founder and CEO at Twilio, a cloud communications platform that adds messaging, voice and video to web and mobile apps. He is a serial inventor with over 15 years of entrepreneurial and product experience.

Read the full NFX Essay here - https://www.nfx.com/post/seven-powers/

(0:00) Introduction by James Currier and Importance of Understanding Defensibility (1:27) Jeff Lawson's Skepticism about Strategy and Introduction to the 7 Powers (6:44) Importance of Inventiveness in Strategy and Google Plus's Downfall (9:33) Explanation of Network Economies and Case Study: Uber (13:05) Scale Economies of Uber, Lyft, and Netflix (16:03) Concept and Application of Counter Positioning (21:16) Challenges Incumbents Face When Adapting to New Business Models (23:54) Power of Branding and Differentiation from Brand Awareness (26:10) Discussion on Cornered Resource as a Power (29:08) Introduction and Explanation of Process Power (32:50) How Entrepreneurs Can Develop Power (34:50) Closing Remarks by Jeff Lawson and Hamilton Helmer's Final Thoughts

The Founders' List: Nir Eyal (Author, Professor, & Investor) on "Hooks: An Intro on How to Manufacture Desire" Apr 28, 2021

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

"We’re on the precipice of a new era of the web. As infinite distractions compete for our attention, companies are learning to master new tactics to stay relevant in users’ minds and lives. The Hook Model is a way of describing a user’s interactions with a product as they pass through four phases: a trigger to begin using the product, an action to satisfy the trigger, a variable reward for the action, and some type of investment that, ultimately, makes the product more valuable to the user. As the user goes through these phases, he builds habits in the process."

This essay was written and published by Nir Eyal, best-selling author & professor. Read the full article on Nir's blog here:

Read the essay here - https://www.nirandfar.com/how-to-manufacture-desire/

Hippo: From Idea to SPAC with CEO Assaf Wand & Pete Flint Apr 27, 2021

In this episode, Pete Flint, Assaf Wand, and Kristen O'Brien discuss the insurance industry's challenges and innovations. They delve into Wand's learning journey and tactics for idea formation in regulated industries. They also explore Hippo's family-oriented culture, their growth during COVID-19, and the decision to go public via SPAC. The conversation concludes with a look at Hippo's future and their use of data and smart devices to prevent insurance claims.

Insurtech is also a space that has become increasingly crowded and more high-profile in recent years.

Hippo Insurance uses technology to help homeowners maintain their properties, creating a new standard of care and protection for homeowners. Hippo announced its intention to go public via SPAC in early March of this year that will now give Hippo a valuation of $5B, making it one of the largest insurtechs in the US.

Co-Founder & CEO Assaf Wand sits down with NFX Partner Pete Flint to share his Founder story, product mindset, strategy behind the SPAC, and personal frameworks for taking Hippo from idea to IPO.

(0:00) Introduction with Kristen O'Brien and Pete Flint (2:03) Challenges and Innovations in the Insurance Industry (10:17) Assaf Wand's Learning Journey in the Insurance Industry (14:08) Tactics and Frameworks for Idea Formation, Validation, and Hiring in a Regulated Industry (24:30) Building a Family-oriented Culture at Hippo (28:32) Navigating Challenges and Growth in the Era of COVID-19 (34:11) Going Public via SPAC: The Rationale Behind Hippo's Decision (43:14) What's in Store for Hippo: Protecting the Joy of Homeownership (48:34) The Core Offering of Hippo: Using Data and Smart Home Devices to Prevent Insurance Claims (49:42) Wrapping up the Conversation with Assaf Wand and Outro

Austen Allred (Co-Founder of Lambda School) & James Currier (NFX) on The New American Dream Apr 22, 2021

In this episode, James Currier, Austen Allred, and Kristen O'Brien discuss the societal pressures of higher education and the American Dream. They explore Lambda School's role in reshaping education, and the importance of aligning school incentives with student success. The trio compares international education systems, particularly Germany's, and the history and future of online education. They delve into the role of community in education, misunderstood aspects of startup success, and future educational decisions for today's five-year-olds. They wrap up by predicting future job markets.

The new American dream is underway. The current US educational industrial complex is not serving young people anymore, and entrepreneurs outside the system are creating new alternatives.

Austen Allred, Co-Founder/CEO of Lambda School earned this perspective by dropping out of college, setting his own path, and now building a successful company and movement to change education in our country. Austen sees our educational past, present, and future in ways few others do.

In this conversation, James Currier (NFX) and Austen break down traditional and contrarian thinking on how we are educated, challenging what has gone unquestioned for decades:

- The Psychology of Traditional College: Why “Normal is a hell of a drug”
- Faulty Mechanics: The problem with America’s “Single Model” education system
- The New American Dream: How “permissionless learning” unlocks opportunity
- & 2 Trends to Watch

Read the NFX Essay here - https://www.nfx.com/post/the-new-american-dream/

(0:00) Introduction to the episode and guest, Austin Allred (3:46) The societal pressure of higher education and the American Dream (7:26) The role of Lambda School in reshaping education (11:19) Aligning the incentives of the school with the student's success (14:29) Comparison of international education systems, focusing on Germany (17:54) Online education: Its history, future, and importance of community (23:39) The role of community in education and trends in educational space (25:08) Misunderstood aspects of startup success and the challenges startups face (28:51) Future educational decisions for today's five-year-olds (31:20) Predicting the future job market and wrap-up of the conversation (32:23) Outro by Kristen O'Brien

The Founders' List: 2020 Letter to Amazon Shareholders Apr 21, 2021

In this episode, Jeff Bezos and Kristen O'Brien discuss Bezos's vision for Amazon, its value creation for stakeholders, and the company's innovation. They also delve into Amazon's safety improvements and benefits, its initiatives in climate action and renewable energy, and the significance of distinctiveness in business. The episode concludes with a discussion on the CEO transition from Bezos to Andy Jassy.

This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

In his final letter to shareholders, Amazon CEO Jeff Bezos on Thursday laid out a broad vision for the future of the company, committing to extend Amazon’s famous obsession over its customers to the same level of care for its employees.

Bezos also took steps to ease shareholders’ fears about what a reimagined focus for the company might mean for Amazon’s future. He reiterated that it “remains Day 1” and highlighted continued growth at Amazon.

Read the letter here - https://www.aboutamazon.com/news/company-news/2020-letter-to-shareholders

(0:00) Introduction by Kristen O'Brien and discussion on Jeff Bezos's vision for Amazon (4:16) Amazon's value creation for employees, customers, and shareholders (7:01) Analysis of Amazon's innovation and employee relationships (11:00) Amazon's steps towards improving work-related safety and employee benefits (14:20) Amazon's initiatives in climate action and renewable energy investments (19:20) Importance of distinctiveness and continuous effort in business, according to Jeff Bezos (23:04) Transitioning the CEO role from Jeff Bezos to Andy Jassy (23:42) End of episode and closing credits

The CEO That Jeff Bezos Called “His Teacher” with Jeff Wilke & James Currier Apr 20, 2021

In this episode, James Currier converses with Jeff Wilke about Amazon's leadership principles, writing culture, and the role of software architecture. They delve into individuality in leadership, the power of authenticity in communication, and the importance of teaching. They also touch on Jeff's new venture, Rebuild Manufacturing.

Jeff Wilke (former CEO, Amazon's Worldwide Consumer Business) sheds light on a counter-intuitive driver behind unusual success: Focus on the inputs, not the outputs. Jeff shares the 3 drivers underlying the rise of Amazon, Prime, Alexa, and AWS, including:

1. "Mechanisms": Amazon's definition, two failure modes, and why they're harder to implement than it first appears

2. A Single-Page Culture: How Amazon's set of principles proved to be an inoculation against a drifting culture

3. Single-Threaded Invention

In practice, operational excellence is the key driver to executing consistently for the long term. It is the secret for harnessing creativity that compounds value over time.

(0:00) Introduction and personal catch-up (0:17) Discussing the Amazon "s team" and its role (2:34) Amazon's leadership principles and writing culture (9:31) Individuality in leadership and explanation of "mechanisms" (12:19) Revisiting past insights, single-threaded leadership and the role of software architecture (15:08) Protecting nascent businesses and creating courage in a team (18:30) The phases of leadership and the power of authenticity in communication (23:16) The importance of teaching in leadership and reflections on the journey at Amazon (24:42) Introduction to Jeff Wilke's new venture: Rebuild Manufacturing (28:06) Conclusion and outro: You've been listening to the NFX podcast

The Founders' List: 1997 Letter to Amazon Shareholders Apr 20, 2021

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

Amazon's approach to building sustainable long-term value should be a lesson to all companies - not just Internet companies. When Jeff Bezos took Amazon public 24 years ago, he sent this letter to all Shareholders and is still considered a playbook for building a great company - read by NFX.

"1997 was indeed an incredible year. We at Amazon.com are grateful to our customers for their business and trust, to each other for our hard work, and to our shareholders for their support and encouragement."

The Founders' List: Gigi Levy-Weiss on "How VCs Think: The Psychology That Drives Investing Decisions" Apr 15, 2021

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This is The Founders’ List – audio versions of essays from technology’s most important leaders, selected by the founder community.

"For a startup, understanding VCs’ mindsets is often as important as understanding the mindsets of your customers. With no capital most Founders will not win, so you’d better learn the language."

VCs speak a different language, one that Founders must learn to be able to raise capital. Understand the psychological drivers and use them to evaluate your counterpart’s state of mind. And repeat the core narratives: we are low risk; we will be huge; others are interested and moving forward.

Read the original NFX Essay here - https://www.nfx.com/post/how-vcs-think-investing-decisions/

A Proposal to Jack & Zuck: Chris Anderson (ex-WIRED) & James Currier on Regulating Social Media Apr 12, 2021

In this episode, James Currier and Chris Anderson delve into the complexities of regulating social media, discussing the role of likes, extreme content, and the potential impact of nationalization on large companies like Facebook. They also explore the challenges faced by rapidly growing firms like Robinhood and address root algorithmic causes in tech companies.

The usual Silicon Valley response to regulation is to offer self-regulation instead — but only tech companies have the skills and speed to fix what they broke, unable to manage the influence over the public sphere they attained almost by accident.

Unless the few who know how to actually build these tech networks speak out, it won’t just be technology that suffers - it will be the entire world. Having built, funded, and analyzed “unicorn” social networks for 25 years and former Editor-in-Chief of Wired magazine, Chris Anderson and NFX Partner James Currier formulate a solution that resurrects a concept from the golden age of newspapers - the ombudsman.

The ombudsman is another important node in the network that has proven itself in the past and is still missing. Listen as Chris and James outline together why these network problems require network solutions, here on the NFX Podcast.

(0:00) Introduction and the problem with regulating social media (7:41) The complexities of digital media interfaces and establishing a threshold for content (13:05) The role of likes and extreme content in social media platforms and potential regulation (18:27) The Chinese government's control over online content and American exceptionalism (25:00) Discussion on nationalization of large companies and the potential impact on Facebook (31:21) The argument against corporate social responsibility and examples of corporations focusing on it (35:09) The possibility of breaking up Facebook and its potential consequences (39:25) The regulatory challenges faced by rapidly growing companies like Robinhood and the transition from tearing down to building up in the tech industry (43:45) Addressing root algorithmic causes in tech companies and the potential for an ombudsman committee (46:56) Wrap-up and outro

The Founders' List: Valve's New Employee Handbook Apr 08, 2021

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

This is Valve’s new employee handbook, delivered to every new person working at the iconic gaming company. It is an abbreviated encapsulation of Valve's guiding principles. As Valve continues to grow, they hope that these principles will serve each new person joining the ranks as an employee.

Read the full handbook here - https://cdn.cloudflare.steamstatic.com/apps/valve/Valve\_NewEmployeeHandbook.pdf

The Founders' List: Elad Gil on the 5 People Who Can Destroy Your Culture (Hiring Series) Mar 30, 2021

This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community. The old saying "one bad apple spoils the bunch" holds especially true for company culture. Keeping around any employee who is a bad culture fit can destroy your team's working environment. Below are some of the typical types of people who can hurt your culture: 1. The Jerk 2. The Whiner 3. Credit Taker 4. Charming Do Nothing 5. Loyalty Monger With culture fit, you should never compromise. This bar should be the highest for the most visible and most productive of your team.

Read the essay here - http://blog.eladgil.com/2014/01/5-people-who-destroy-your-culture.html

The Founders' List: Iman Abuzeid on Frameworks for Using Diversity to Win (Hiring Series) Mar 30, 2021

In this episode, Kristen O'Brien and Iman Abuzeid explore diversity in the tech industry, discussing its benefits such as profitability, decision-making, and innovation. They delve into building diverse teams, funding for women and people of color, and the approaches notable investors take towards diverse investing. They also discuss implementing a data-driven approach to diversity, concluding with thoughts on diversity in tech and venture capital.

This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

The data is clear – diverse teams win. Companies with more diverse management teams have 19% higher revenues due to innovation, and 9% higher EBIT margins. Iman Abuzeid MD (CEO & Cofounder of Incredible Health) has gone through the full diligence process of the best of the best Series A funds in Silicon Valley and shares her findings in this essay.

"We are coming to terms with what we have or have not done right in tech in relation to diversity. Data is one way Silicon Valley has won this far, and it’s the way we can keep winning. The data is clear – diverse teams win."

Read the essay here - https://www.nfx.com/post/frameworks-using-diversity-to-win/

(0:00) Introduction by Kristen O'Brien (0:17) Diversity in Tech Industry with Iman Abuzeid (2:02) Benefits of Diversity: Profitability, Decision-making and Innovation (6:14) Diversity as a Competitive Advantage and Increasing Customer Expectations (9:52) Framework for Building a Diverse Team (14:07) Funding for Women and People of Color in Tech (16:08) Insights on Approaches of Notable Investors to Diverse Investing (25:05) Implementing a Data-driven Approach to Diversity (27:31) Closing Thoughts on Diversity in Tech and Venture Capital (27:53) Outro by Kristen O'Brien

The Founders' List: Internal Letter on Culture from Brian Chesky, CEO of Airbnb (Hiring Series) Mar 30, 2021

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

"On Monday, October 21, 2013, I sent this letter to our entire team at Airbnb. I have decided to publish this in the event it is helpful to entrepreneurs building their cultures." In this famous memo from the early days of Aribnb, CEO Brian Chesky stresses the importance of having a succinct company outlook on culture.

"Why is culture so important to a business? Here is a simple way to frame it. The stronger the culture, the less corporate process a company needs. When the culture is strong, you can trust everyone to do the right thing. People can be independent and autonomous."

Read the full letter here - https://medium.com/@bchesky/dont-fuck-up-the-culture-597cde9ee9d4

The Founders' List: The Interview Process at Stripe, Answered on Quora by Greg Brockman (Hiring Series) Mar 30, 2021

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

Pulled from a Quora post in 2015, Greg Brockman (former CTO at Stripe, now co-founder + CTO at Open AI) answers the question, "What is the engineering interview process like at Stripe?" Greg goes into detail around the frameworks and thinking behind the Stripe technical interviewing process and why they use this formula to build a world-class team at Stripe.

Read the Quora post here - https://www.quora.com/What-is-the-engineering-interview-process-like-at-Stripe

The Founders' List: Amazon's 14 Leadership Principles Mar 25, 2021

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

Amazon has and operates by its own set of leadership principles--a set of principles referred to during company decision-making, problem-solving, simple brainstorming, and even hiring. Here are the 14 leadership principles Amazon workers refer to on a daily basis:

- Customer Obsession
- Ownership
- Invent and Simplify
- Are Right, A Lot
- Learn and Be Curious
- Hire and Develop the Best
- Insist on the Highest Standards
- Think Big
- Bias for Action
- Frugality
- Earn Trust
- Dive Deep
- Have Backbone; Disagree and Commit
- Deliver Results

Read them here - https://www.amazon.jobs/en/principles

The Founders' List: Nokia's CEO 'Burning Platform' Memo Mar 18, 2021

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

In 2007, Nokia's CEO Stephen Elop (a former Microsoft executive) was planning radical action to revive the company's fortunes on what they will do to stem the loss of market share, notably in the smartphone market, where despite being the biggest player it has been unable to compete with incomers, notably Google's Android and Apple's iOS.

"The first iPhone shipped in 2007, and we still don't have a product that is close to their experience. Android came on the scene just over 2 years ago, and this week they took our leadership position in smartphone volumes. Unbelievable."

Gaming Superpowers for Non-Game Founders with Gabi Shalel (Plarium) & Gigi Levy-Weiss Mar 17, 2021

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Gabi Shalel is an amazing games founder - he understands the type of innovation, fast iteration, and quality required to create a successful games company. These things are also very valuable for every founder, every startup.

So today, NFX General Partner Gigi Levy-Weiss talks to Gabi about the lessons he's learned from starting, growing, and selling Plarium for $500M that other founders can take and apply to their own startups, including:

- Psychology of ultra-fast iterations
- People and Hiring
- Pivoting
- Social in your product
- Conversion tactics
- much more

Read the NFX essay here - https://www.nfx.com/post/gaming-superpowers-plarium

The Founders' List: The Ethereum Whitepaper Mar 11, 2021

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This introductory paper was originally published in 2013 by Vitalik Buterin, the founder of Ethereum, before the project's launch in 2015. It's worth noting that Ethereum, like many community-driven, open-source software projects, has evolved since its initial inception.

While several years old, they maintain this paper because it continues to serve as a useful reference and an accurate representation of Ethereum and its vision. From humble beginnings, Ethereum has grown into a well-known and widely used platform. The platform has also been responsible for launching hundreds of other cryptocurrencies and decentralized projects in recent years through a new fundraising mechanism called an Initial Coin Offering (ICO).

Read the full paper here - https://ethereum.org/en/whitepaper/

The Founders' List: Berkshire Hathaway 2020 Annual Report from Warren Buffett Mar 09, 2021

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

Berkshire Hathaway Inc. (BRK.A, BRK.B) held its 2020 annual meeting of shareholders as a livestream-only event originating from its headquarters city of Omaha, Nebraska on May 2. This is the report from 2020 sent to all shareholders.

This is the letter he sent to all shareholders of Berkshire Hathaway Inc.

“The company’s sitting on about $150 billion in cash right now and it has $25 billion of earnings power, and Buffett has not found a lot to do with Berkshire’s earnings the last couple years in terms of buying businesses or stock market investments.”

The Founders' List: Letter to Amazon Employees from Jeff Bezos Mar 09, 2021

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

Amazon's Jeff Bezos announced in February that he was stepping down as CEO of the e-commerce giant later this year. Bezos said he would transition to the executive chair of the company's board of directors and will focus on "new products and early initiatives.

This is the letter he sent to all employees at Amazon.

“Being the CEO of Amazon is a deep responsibility, and it’s consuming,” Bezos wrote in a letter to employees announcing his role change. “When you have a responsibility like that, it’s hard to put attention on anything else.”

The Founders' List: Pete Flint on "How to Manage Hypercompetitive Markets" Mar 04, 2021

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

Inside the war rooms of companies locked in the battle for market leadership is an atmosphere of voracious competition. The stakes are high because whoever emerges on top can shape the future of an entire industry. It takes this competitive spirit to drive true innovation at scale, and the reality is that it’s often very cutthroat.

Pete Flint (General Partner at NFX) shares 7 key strategies he has identified to help Founders manage a hypercompetitive market and get ahead, including:
- Becoming an expert on pricing
- Finding and dominating the most profitable market segments
- Everything that can be copied, will be copied
- Taking the high road with competitors
- Using capital as a competitive weapon
- Focusing on being uniquely better, not just on being different
- Managing your psychology is key

Hypercompetitive markets are tricky to navigate, but understanding the dynamics and having the right approach can make a big difference in outcome.

Read the full NFX Essay here - https://www.nfx.com/post/hypercompetitive-markets/

BJ Fogg on Tiny Habits for Startup Founders with James Currier Mar 01, 2021

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BJ Fogg is an American behavior scientist who is currently an Adjunct Professor at Stanford University and a New York Times best-selling author. He is the founder and director of the Behavior Design Lab.

BJ Fogg and James Currier talk to uncover how startup Founders can create better systems, both within themselves and within their companies and communities, so they can level up what we’re doing and put more good into the world. They cover topics like behavior design in tech and tech companies, mindset for Founders, examples of companies doing these things well, and tiny habits for Founders to focus on.

Pick up BJ Fogg's popular book here - https://www.amazon.com/Tiny-Habits-Changes-Change-Everything/dp/0358003326

Follow BJ on Twitter - https://twitter.com/bjfogg

The Founders' List: The DoorDash Investment Memo from 2014 Feb 25, 2021

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

In the Summer of 2013, DoorDash had a dream of building a real-time local delivery network for local commerce. This episode is the reading of an internal memo by Sequoia Capital Partner Alfred Lin in 2014 focused on the market and business of DoorDash before their Series A partnership.

DoorDash launched in Palo Alto, California in 2013. As of January 2020, it had the largest food delivery market share in the United States. DoorDash held its initial public offering on December 9, 2020.

Good vs. Great Leaders with Carole Robin & James Currier Feb 22, 2021

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Carole has been in the business of helping leaders grow for over 35 years. Before she co-founded and became the Head of Programs of Leaders in Tech, she taught at the Stanford Graduate School of Business (GSB) for 17 years, where she served as the Faculty Director of the Interpersonal Dynamics for High Performance Executives Program and Director of the Arbuckle Leadership Fellows program. Carole is well known for teaching the Interpersonal Dynamics course that most call the "Touchy Feely Class" (the most popular elective course at the GSB for over 45 years).

Today NFX General Partner James Currier and Carole sit down and discuss a range of topics centered around startup Founders, relationships, her time teaching at Stanford, and her new book called 'Connect: Building Exceptional Relationships with Family, Friends and Colleagues' with David Bradford. In Connect, they show readers how to take their relationships from shallow to exceptional by cultivating authenticity, vulnerability, and honesty, while being willing to ask for and offer help, share a commitment to growth, and deal productively with conflict.

"That's why so many founders in the Valley are so exhausted because they're carrying everything. And somehow they've got this idea that unless they come to somebody and say, "Hey, I could use some help here," they're going to appear weak. That's just broken."

Vitalik Buterin on Space, Longevity, Mars & More ("The B- Side" with Morgan Beller) Feb 18, 2021

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Today we’re releasing the B-Side of our conversation with Vitalik Buterin, highlighting what may look strangely different in the coming decades. Here’s what great Founders know that others do not: What seems weird today may actually be signal of an outsized opportunity ahead.

Last week, Vitalik and I took a synchronous-but-separate walk together for 3 hours. I was in San Francisco at 4 pm and Vitalik was in Singapore at 8 am the next day, living in the future in more ways than one.

Read the full NFX Essay here - https://www.nfx.com/post/vitalik-buterin-the-b-sides/

Read the full NFX essay - https://www.nfx.com/post/vitalik-buterin-the-b-sides/

Vitalik Buterin on The Revolt of the Public ("The A-Side" with Morgan Beller) Feb 16, 2021

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Today we’re releasing the “A-Side” of a conversation with Vitalik Buterin, known as the creator of Ethereum and is a force behind much of the crypto movement.

Vitalik shares his unique points of view on politics, crypto, Americanism, GameStop, and Wall Street Bets, Tesla, China, privacy, The Revolt of the Public, the decentralization of finance and so much more.

But Vitalik is much more than just crypto. He is a close friend with a rare ability to see the present and future in a way few others do. With technology now at the forefront of society, the world is transforming faster than ever — and it’s incumbent on all of us to understand where we are, and where we’re going.

Coming soon: The “B-Side” of our talk — the outtakes. The weird stuff. The good stuff you don’t get to hear when someone is on stage, on script, or in the media.

Read the full NFX essay - https://www.nfx.com/post/vitalik-buterin-the-a-sides/

The Founders' List: Ashley Mayer on "It’s Okay That Your Startup Doesn’t Have a Communications Strategy" Feb 11, 2021

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

Ashley Mayer is the Senior Director of Communications at the beauty company, Glossier. She is also an active startup investor (angel and scout). Ashley previously ran all things Marketing at Social Capital from 2015-2018, where she worked with founders spanning healthcare, aerospace, climate, fintech, enterprise and education.

In this audio essay, Ashley demystifies what goes into building communications strategies from the bottom-up, and why tactics are your friends.

"Don’t trust that others will take the time to understand the gravity of your news. Figure out how to signal its importance and timeliness, and let that effort take you in new and exciting directions."

Follow her on Twitter: https://twitter.com/ashleymayer
Follow her on Medium: https://medium.com/@ashleymayer

Adam Grant on Anti-Patterns of 10x Thinking with Pete Flint Feb 04, 2021

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"Doubt what you know, be curious about what you don't, and update your views based on new data."

NFX partner Pete Flint recently got together with organizational psychologist and bestselling author Adam Grant to discuss his new book, Think Again, about the counterintuitive and competitive advantages of rethinking.

Adam and Pete share the frameworks for:
- Rethinking vs. Contrarian Thinking
- Techniques from the World’s Best Superforecasters
- Jeff Bezos’s 2×2 Decision Framework
- The Top Killers of Co-founder Relationships
- Why Confident Humility Is A Founder Superpower
- & more

Read the NFX Essay - https://www.nfx.com/post/anti-patterns-of-10x-thinking/

Launching NFX Bio and The Rise of the Scientist Founder Feb 02, 2021

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Today we're announcing NFX Bio, a new fund initiative led by some of biotech's most successful Founder/CEOs. Our mission is to back seed-stage companies building bio-platforms that solve the biggest challenges facing humanity.

NFX Bio is led by Omri Amirav Drory, Ph.D., Founder/CEO of Genome Compiler (acquired by Twist Bioscience). Joining him on the Investment Committee is Emily LeProust, Ph.D., Co-Founder & CEO of Twist Bioscience (TWST - NASDAQ), as well as NFX GP's James Currier and Gigi Levy-Weiss.

By combining software/data tech with biology, and by architecting businesses with a platform approach, a whole new future of possibilities is unlocked.

Information technology has dominated human progress for forty years. And the next phase is going to be led by Scientist-Founders who build info-tech powered bio companies. The rise of the Scientist-Founder is now.

In this closed-door conversation, Omri, Emily, and James break down what they’re looking for, and what Scientists need to master in order to be CEOs.

Read the full NFX Essay here - https://www.nfx.com/post/launching-nfx-bio/

The Founders' List: James Currier (General Partner at NFX) on "The Psychology of Startup Growth" Jan 28, 2021

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

This essay was written and published by James Currier, General Partner at NFX.

Read the full article here: https://www.nfx.com/post/psychology-startup-growth/

The Founders' List: Sean Ellis on "How to Determine the Optimal Price for Your Web Service" (Pricing Series) Jan 26, 2021

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

Alongside our latest NFX Essay "The Hidden World of Pricing: Uber, Trulia, Etsy, Superhuman & More with Madhavan Ramanujam", we decided to release supplemental pricing articles on The Founders' List.

Sean Ellis is an entrepreneur, angel investor, and startup advisor. He is the CEO of GrowthHackers and was previously founder and CEO of Qualaroo, an automated user research tool. He attended the University of California, Davis and graduated in 1994.

"An optimal price allows the startup to grow at the fastest possible rate by maximizing profitable investments in customer acquisition programs and/or offering a free version to drive broad user adoption."

Sean's featured article in this episode:
- How to Determine the Optimal Price for Your Web Service

Read the full NFX pricing essay here - https://www.nfx.com/post/the-hidden-world-of-pricing/

The Founders' List: Ash Maurya on "My Experiments in Lean Pricing" (Pricing Series) Jan 26, 2021

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

Alongside our latest NFX Essay "The Hidden World of Pricing: Uber, Trulia, Etsy, Superhuman & More with Madhavan Ramanujam", we decided to release supplemental pricing articles on The Founders' List.

Ash Maurya is the author of Running Lean and the creator of the one-page business modelling tool Lean Canvas. His posts and advice have been featured in Inc., Forbes, and Fortune. He regularly hosts sold out workshops around the world and serves as a mentor to several accelerators including TechStars, MaRS, and Capital Factory. He serves on the advisory board of a number of startups and has consulted to new and established companies. Author, creator of Lean Canvas, and founder of LEANSTACK.

Ash's featured article in this episode:
- My Experiments in Lean Pricing

Read the full NFX pricing essay here - https://www.nfx.com/post/the-hidden-world-of-pricing/

The Founders' List: David Skok on "Scalable Pricing A Key Tool For SaaS Success" (Pricing Series) Jan 26, 2021

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

Alongside our latest NFX Essay "The Hidden World of Pricing: Uber, Trulia, Etsy, Superhuman & More with Madhavan Ramanujam", we decided to release multiple supplemental pricing articles on The Founders' List.

David Skok joined Matrix Partners as a General Partner in May 2001. He has a wealth of experience running companies. David started his first company in 1977 at age 22. Since then David has founded a total of four separate companies and performed one turn-around. Three of these companies went public.

This post looks at how to create scalable pricing using multiple pricing axes, and discusses the different types of axes that can be used. David's featured article in this episode:
- Scalable Pricing: A Key Tool For SaaS Success

Read the full NFX pricing essay here - https://www.nfx.com/post/the-hidden-world-of-pricing/

The Founders' List: Tomasz Tunguz on "Ten Years Worth of Learnings About Pricing" & "There are Only 3 Pricing Strategies for You Jan 26, 2021

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

Alongside our latest NFX Essay "The Hidden World of Pricing: Uber, Trulia, Etsy, Superhuman & More with Madhavan Ramanujam", we decided to release multiple supplemental pricing articles on The Founders' List.

This is a two-part episode including two essays from Tomasz Tunguz (Venture Capitalist at Redpoint). He is also a board member of Looker, ERPLY, Electric imp, inc., AxialMarket, Quantifind, Expensify, and more. Prior to joining Redpoint, Tomasz was the product manager for Google's social media monetization team, including the Google-MySpace partnership.

Tomasz's featured articles in this episode:
- Ten Years Worth of Learnings About Pricing
- There are Only 3 Pricing Strategies for Your Startup

Read the full NFX pricing essay here - https://www.nfx.com/post/the-hidden-world-of-pricing/

The Pricing Masterclass with Madhavan Ramanujam & Pete Flint Jan 25, 2021

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Madhavan Ramanujam is a legendary “pricing whisperer” among tech unicorns including Trulia, Etsy, Uber, Amazon, Evernote, and more. He is the author of 'Monetizing Innovation' and a partner at Simon-Kucher.

Today, Madhavan and Pete (General Partner at NFX) are sharing the frameworks, tactics, and hidden truths Founders need to know about pricing - and how, when done correctly, it can dramatically lever-up growth. Madhavan and Pete discuss topics in the pricing world like how:

- Pricing is a blindspot for startups.
- How to Test Willingness-to-Pay
- Acceptable, Expensive, or Prohibitively Expensive?
- How To Think About Pricing During Extreme Swings
- What to do when customer demand is spiking
- What to do when you are losing demand
- Think creatively about value and market share in a downturn
- How You Charge > How Much You Charge
- Five Monetization Models That Work, Time And Time Again
- Subscription
- Dynamic Pricing
- Market-Based Pricing
- Freemium
- Why 72% of Attempts to Monetize Innovation Fail
- The 4 Ways Your Monetization Fails
- Feature Shock
- Minivation
- Hidden Gems
- Undead
- Frameworks for Avoiding Monetizing Innovation Failures
- P.S. Pricing Principles Applied to Life

Madhavan also walks us through some never before heard pricing case studies on companies he's worked with like:
- Etsy
- Uber
- Amazon
- Evernote

The Founders’ List: The Bitcoin White Paper by Satoshi Nakamoto Jan 21, 2021

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

Originally written under the pseudonym Satoshi Nakamoto, Bitcoin’s original white paper titled 'Bitcoin: A Peer-to-Peer Electronic Cash System' was released over 12 years ago. Considered the most seminal piece of work in the cryptocurrency movement, the Bitcoin White Paper outlines blockchain technology and the entire decentralized revolution.

The content of this 9-page document incited what can only be described as a revolution in the world of fintech. More relevantly, Bitcoin’s white paper laid out an inspiring new definition of money at a time when faith in the traditional financial system was still being salvaged.

Satoshi launched the first Bitcoin client in early 2009 and then handed the project off to the community in 2010, where it has since thrived as the open-source of study, work, and fascination for millions across the globe. Today we bring this infamous memo to The Founders' List so you have a chance to listen to his original outline of such a world-changing idea. Examining the white paper origins is a great exercise in understanding why Bitcoin has the influence it has in today's world. Satoshi Nakamoto’s blueprint is the official “birth certificate” of Bitcoin.

Read the white paper here - https://bitcoin.org/bitcoin.pdf

The Founders’ List: ‘The HP Way’ Speech by Dave Packard to Management (1960) Jan 14, 2021

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This is The Founders’ List – audio versions of essays from technology’s most important leaders, selected by the founder community.

In 1960, David Packard gave an informal speech to the managers at HP that wasn’t intended for the public to hear. The speech resurfaced during the merger talks between Hewlett-Packard and Compaq. Packard addressed the overarching question of 'why HP exists' and shares insights on how to manage effectively, financial responsibility, and much more for someone to absorb and have a successful career.

You can find his speech in the book, 'The HP Way: How Bill Hewlett and I Built Our Company'.

Jeff Lawson on Ask Your Developer, with Pete Flint Jan 12, 2021

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Jeff Lawson, software developer turned CEO of Twilio, creates a new playbook for unleashing the full potential of software developers in any organization, showing how to help management utilize this coveted and valuable workforce to enable growth, solve a wide range of business problems, and drive digital transformation.

General Partner at NFX Pete Flint talks with Jeff about his new book, his Twilio Founder Journey, running a public company through a recession, decision frameworks, and much more. Jeff's new book is released on Tuesday, January 12th and discusses how to use the creativity of code to solve business problems.

Developers are the creative workforce who can solve major business problems and create hit products for customers — not just grind through rote tasks. The landscape has shifted from the classic build vs. buy question to one of build vs. die. Companies have to get this right to survive. But how do they make this transition?

Read more about Jeff's book here - https://www.askyourdeveloper.com/
Follow Jeff on Twitter here - https://twitter.com/jeffiel

The Great Unbundling Of Housing & Jobs, with Jed Kolko and Pete Flint Jan 11, 2021

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Few people can see what Jed sees about the relationship between real estate and labor markets and the downstream effects of their recent untethering. And, ultimately, what this means for startup life after the pandemic.

Now, and in the years to come, Founders will need to design their startup teams in all-new ways. Today is the beginning of building a new playbook for startup life. NFX General Partner Pete Flint talks with Jed to uncover this unbundling, covering key shifts like:
- Unemployment Kickstarting Dislocation
- The Continued Unbundling Of Where You Live And Where You Work
- Commercial Real Estate, Reimagined
- The Transportation Spiral
- Cities Changing From Centers of Production to Destinations of Consumption
- & New Considerations For Where To Live

Jed is currently the Chief Economist at Indeed, the world’s largest online jobs site. Previously he was Chief Economist and VP of Analytics at Trulia, the online real estate site. Follow Jed on Twitter here - https://twitter.com/JedKolko

The Founders’ List: Email Exchange on Instagram Acquisition by Facebook (Kevin Systrom & Mark Zuckerberg) Jan 08, 2021

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

The following is a reenactment of an email conversation between Facebook CEO Mark Zuckerberg and Instagram CEO Kevin Systrom about Facebook's acquisition of Instagram between the dates of March 20th and April 9th of 2012. They discuss concerns, how their pathways cross, and how the potential acquisition will benefit both companies in the long-run.

Mark Zuckerberg - "I'm glad we got a chance to talk yesterday. I appreciate the open style you have for working through these issues. It makes me want to work with you even more. I was thinking about our conversation some more and wanted to share a few more thoughts..."

How To Compete with Big Tech and Win with Zeev Farbman & Gigi Levy-Weiss Jan 04, 2021

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Founded in January 2013, Lightricks is a company that develops video and image editing mobile apps, known particularly for its selfie-editing app, Facetune. Headquartered in Jerusalem, the firm has over 250 employees. As of 2019, its apps have been downloaded over 180 million times and have over 3 million paying subscribers.

Zeev Farbman co-founded Lightricks along with Nir Pochter, Yaron Inger, Amit Goldstein and Itai Tsiddon. In July of 2019, Lightricks announced that it has raised $135 million in Series C financing round at a $1 billion valuation bringing Lightricks’ total funding to $205 million to date. Farbman received his PhD from Hebrew University of Jerusalem in Computer Science. In his spare time, he practices Brazilian Jiu-Jitsu.

Today NFX General Partner Gigi Levy-Weiss talks with Zeev about growing a Billion Dollar Company as a ”top layer” on other platforms, company leadership & navigation, and product strategy. They also discuss the future of content, what's trending now, and the possibilities in the near future.

Erik Torenberg & James Currier on being Citizens of the Internet Dec 21, 2020

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Erik Torenberg is an entrepreneur, investor, and most importantly a community builder. NFX General Partner James Currier connects with Erik on the intricacies of building online & offline communities, behavioral psychology of users, and useful tactics/frameworks for early-stage Founders to consider when building their company.

Erik is originally from New Jersey and studied economics at the University of Michigan. investments His portfolio includes Rappi, Scale, Nurx, Lattice, Omni, Long-Term Stock Exchange, Winnie, Carrot, Kite, Cover, and ~80 more. He is a son of Israeli and Colombian immigrants and has worked to invest in those ecosystems as well.

He was on the founding team of Product Hunt and hosts his podcast show, 'Venture Stories'. His latest venture outside of being Co-Founder & Partner at Village Global is called The On Deck Fellowship (ODF). The ODF is a 10-week virtual program where you'll have access to a network of 200+ talented founders from all over the world who are all in the early stages of working on their next company. Erik's love for community building and connecting humans is world-class and beneficial for Founders everywhere.

The Decision Frameworks Behind Fiverr's Success with Micha Kaufman and Gigi Levy-Weiss Dec 17, 2020

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Founders rarely get to hear the inside story of building a massive marketplace business from idea to IPO. Today we analyze the core startup decisions you need to make in the early days about your market, product, pricing and customers — and how those early decisions define your roadmap for the next 10 years or more.

Today NFX General Partner Gigi Levy-Weiss sits down and has a conversation with Micha Kaufman, the Founder and CEO of Fiverr (FVRR). Fiverr’s stock price has soared since their 2019 IPO — posting an impressive 797% growth since last year — but this conversation makes evident that their DNA for success was set from day one.

Micha gives us access to the early days at Fiverr and what startup lessons he learned while leading one of the world’s biggest marketplaces, including:

When You’re Told The Idea Is Too Crazy To Work
A 3-Part Framework For Finding The Right Market
Fiverr’s Epiphany: Productizing Services
Reverse Your Storytelling In Order To Build The Best v1
Supply Generates Demand: The Fiverr Law of Business
Doing The Opposite Of What You’re Told For A Go-To-Market Strategy
Keeping “Startup Speed” Even As A Public Company
& more

This is a tremendous resource for early-stage Founders everywhere as they make key decisions that will set their startups into motion. Read the essay here - https://www.nfx.com/post/fiverr-road-to-growth/

The Founders’ List: 10 Pieces of Manufacturing Advice from Tesla CEO, Elon Musk Dec 16, 2020

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

From the outside, it's hard to understand what's going on at Tesla. Here are 10 quick examples of advice centered around the Model 3 production bottleneck pulled from real internal emails sent by Tesla CEO, Elon Musk. Topics include:

- Always Start With The Good
- Challenge, Demand, But Always Offer Help
- Production only Moves as Fast as the Least Lucky
- Don’t Be 10% Better, Be 10x Better, Seriously
- Encourage Customers to Bring Out the Measuring Tape
- If Molehills Turn to Mountains, Follow the Money Train
- If You Can’t Explain it to A Five Year Old, You Don’t Understand it Well Enough
- It Must Be Ok For People To Talk Directly And Just Make The Right Thing Happen
- It Is Not Rude To Leave, It Is Rude To Make Someone Stay And Waste Their Time
- Hold Contractors to the Same Standards of Your Employees

"Also get rid of frequent meetings, unless you are dealing with an extremely urgent matter. Meeting frequency should drop rapidly once the urgent matter is resolved. Walk out of a meeting or drop off a call as soon as it is obvious you aren’t adding value. It is not rude to leave, it is rude to make someone stay and waste their time.”

"Don't Just Be the Best, Be the Only" with Kevin Kelly & James Currier Dec 15, 2020

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In this candid conversation with iconic tech thinker Kevin Kelly (founding Editor of Wired), we discuss inspirational and transformative advice for early-stage Founders reflecting on the work they’re doing, why they’re doing it, and how it all adds up in the long term.

Kevin and NFX General Partner James Currier talk about:

“You want to work on something that nobody has a name for.” You don’t just want to be the best -- you want to be the only. This applies to the companies you start, the projects you tackle, as well as to how you live your life.
“It’s fine to focus on scaling a wall, but you need to make sure your ladder is leaning against the right wall.”
Transforming from short-term founder to long-term steward is a mental shift that many Founders need to start making.
“If you operate on a longer term perspective you have an advantage because everyone else is completely short sighted.”
Why Wired? What was the reason for it to exist?
We need to listen to the technology to see how people actually use it vs. how it was invented.

Kevin Kelly is Senior Maverick at Wired magazine. He co-founded Wired in 1993, and served as its Executive Editor for its first seven years. His most recent book is called The Inevitable, and is a New York Times and Wall Street Journal bestseller. He is also founding editor of the popular Cool Tools website, which has been reviewing tools daily since 2003. Every Sunday, he and the Cool Tools team mail out Recomendo, a free one-page list of 6 very brief recommendations of cool stuff.

The Founders’ List: "How To Make The Most Out Of Your Time And Your Life" by Nir Eyal (Author + Former Stanford Professor) Dec 10, 2020

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

"Becoming indistractable requires an understanding of why you lose focus and learning the skills to do as you say. This guide is for people who want to harness the power of focus, but don’t have a lot of time. The more we respond to external triggers, the more we train our brain in a neverending stimulus-response loop."

This is the audio version of Nir Eyal's focus guide, 'How To Make The Most Out Of Your Time And Your Life'. By reimagining a task, you can make anything more enjoyable and intrinsically rewarding because in our digital age, it's very difficult to “muster enough energy” to stay focused.

Nir is a former instructor at Stanford’s Graduate School of Business and author of the bestseller, “Hooked: How to Build Habit-Forming Products.” 2013 His latest book, “Indistractable: How to Control Your Attention and Choose Your Life,” 2019 is out now. Check out his website and content at - https://www.nirandfar.com/

The Founders' List: Steve Job's Famous 'Thoughts on Flash' (Famous Memos) Dec 03, 2020

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

'Thoughts on Flash' is an open letter published by Steve Jobs, Co-Founder and then-CEO of Apple Inc. on April 29, 2010. The letter criticized Adobe Systems' Flash platform and outlined reasons why the technology would not be allowed on the company's iOS hardware products, specifically iPhone, iPod Touch, and iPad. Now it's available to listen to on The Founders' List.

Read the full memo here - https://www.nfx.com/post/founders-list-steve-jobs

The Irrational Truths Behind User Behavior, with Dan Ariely & Gigi Levy-Weiss Nov 30, 2020

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We all think we know how our users behave. It turns out, we don’t. Founders over-index on rational assumptions, but users most often behave irrationally.

Behavioral economics, by contrast, is the practice of truly seeing your users' emotions, beliefs, and habits. This kind of vision is critically missing from product design at most startups.

In this episode, NFX General Partner Gigi talks with Dan Ariely -- the world’s top expert in behavioral economics and a renowned professor at Duke -- as he breaks down the most common types of irrational user behavior and shares frameworks for predicting how your users will actually behave.

The Unusual Signs of a Billion Dollar Company with Elad Gil & James Currier Nov 23, 2020

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Can your company be a Billion-dollar business? When we look inside the early days of companies like Stripe, Airbnb, Coinbase, Instacart & Square, what are the patterns that may shed light on how great Founders beat incredible odds?

In this episode of the NFX podcast, Elad Gil — one of the world's top angel investors in an astonishing number of Billion-dollar companies (Airbnb, Airtable, Anduril, Brex, Checkr, Coinbase, Flexport, Gitlab, Gusto, Instacart, Opendoor, PagerDuty, Pinterest, Samsara, Square, Stripe, & Wish) and cofounder of ColorGenomics— joins NFX partner James Currier to unearth what makes certain Founders and teams exponentially better.

Together they examine the counterintuitive -- and often contrarian -- patterns that he has observed in many of the world’s best known Billion-dollar companies and their decision frameworks along the way.

NFX Essay - https://www.nfx.com/post/unusual-signs-billion-dollar-companies
Elad's Twitter - https://twitter.com/eladgil

The Founders' List: Steve Yegge's Famous Rant on 'Google vs Amazon' (Famous Memos) Nov 20, 2020

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

Longtime Googler Steve Yegge posted an insightful rant on his Google+ page about how Google is failing to make platforms for its products. He also shares some interesting little tidbits about his six-year stint at Amazon working for the 'Dread Pirate Bezos'. The rant was intended to be shared only with his Google coworkers, but was accidentally made public.

Read the full memo here - https://gist.github.com/chitchcock/1281611

The New Growth Mindset with Sean Ellis & James Currier Nov 16, 2020

In order to drive growth, you need to be data-driven and relentlessly creative. The difficult part of implementing growth in your company is finding someone who is good at both. Growth expert and thought leader Sean Ellis (Dropbox, Eventbrite, GrowthHackers, LogMeIn) sits down with NFX General Partner James Currier to share his thoughts and insights around: - The current stage of growth hacking - The digital growth evolution - The balance of data and creativity - Understanding the physics of growth - Importance of word of mouth Be sure to check out Sean’s latest project GoPractice! as well as his famous book ‘Hacking Growth’.

The Founders’ List: "Why Figma Wins" by Kevin Kwok (Former Investor at Greylock) Nov 12, 2020

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

"Design is all of the conversations between designers and PMs about what to build. Building for this entire process doesn’t take away the importance of designers—it gives them a seat at the table for the core decisions a company makes. Companies that are successful in the long term are the ones that can repeatedly find the next loop."

This is the audio version of Kevin Kwok's essay, 'Why Figma Wins'. His analysis of the trajectory of Figma reflects the incremental product thinking & execution required to build this type of bottoms-up giant.

Kevin was formerly worked at Greylock Partners investing in marketplaces, autonomous vehicles, bottoms up productivity tools, and more. He is particularly interested in understanding the underlying structures that shape industries and the core loops that drive companies and writes on his popular site www.kwokchain.com.

Read the full article here - https://kwokchain.com/2020/06/19/why-figma-wins/

Status Games with Eugene Wei (Product Lead at Amazon, Hulu, Erly, Flipboard, Oculus) and James Currier Nov 10, 2020

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Status can be a volatile, powerful driver of engagement. Status and one of its underlying mechanisms, scarcity must be considered by product designers in every category, as early on as possible.

But it can also be a double-edged sword, as managing a network and the status dynamics within it is constantly recirculating, always shifting. For this reason, status that is more entertainment-based than utility-based can over time become precarious, as well as too restrictive for continued user growth.

NFX partner James Currier sits down with Eugene Wei (Product Lead at Amazon, Hulu, Erly, Flipboard, Oculus) to draw from his original Status-as-a-Service article and expand to discuss status in entertainment, frameworks for emotional product design, video games as world leaders in defining scarcity, the future of virtual goods, and the underlying status games that drive us all -- in technology and in life.

The Future of Digital Advertising with Mikael Cho & Luke Chesser (Co-Founders of Unsplash) Nov 09, 2020

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"What's happening in general on the internet is an evolution to visual storytelling. The image is more powerful than ever, but it's also much harder to be seen than ever due to saturation. What's happening is the exchange is in social capital - the exchange is in being seen."

NFX partner James Currier sits down and chats with Mikael Cho (CEO & Co-founder) and Luke Chesser (Head of Product & Co-founder) about their Founder journey to creating Unsplash, solving the chicken and egg problem within their marketplace, the psychology of their users, and what the future of digital advertising will look like.

The Founders’ List: Bill Gates' internal Microsoft Memo "The Internet Tidal Wave" (Famous Memos) Nov 05, 2020

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

Surfaced during the prolonged Justice Department antitrust action against Microsoft from 1998 to 2001, Bill Gates outlines a strategy internally for Microsoft to not only enter the internet, but to dominate it in his famous ‘Internet Tidal Wave’ memo.

Read the full memo here - https://sriramk.com/memos/billgates-tidalwave.pdf

The Founders’ List: "The 3 Types of Platform Companies" by Elad Gil (Color Genomics & Twitter) Oct 29, 2020

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

"Conflating what makes a platform work versus e.g. an infrastructure product can backfire and cause a team to have the wrong strategy for building a product or getting customers. These startups tend to fail."

This is the audio version of Elad Gil's popular essay on The 3 Types of Platforms. Elad was the former Co-Founder/CEO of Color Genomics, Entrepreneur, Operating Executive at Twitter, and investor/advisor to companies like Airbnb, Stripe, Square, and Pinterest.

Read the full article here - http://blog.eladgil.com/2015/01/the-3-types-of-platform-companies.html

The Competition For Your Attention with Sarah Frier (Bloomberg) & James Currier Oct 26, 2020

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"I think that everybody is getting attuned to strategic communication in a way that was not happening before social media.

NFX partner James Currier talks with Sarah Frier, who reports on social media companies for Bloomberg News from San Francisco. Her stories have earned her a reputation as an expert on how Facebook, Instagram, Snapchat, and Twitter make business decisions that affect their future and our society as well as being the author of 'NO FILTER: The Inside Story of Instagram.'

Sarah and James touch on a variety of subjects including the role and effect social media has on society and how to think about navigating your potential influence as an early-stage Founder.

The Founders’ List: “Don't Believe Your Own B.S.” by Pete Flint (General Partner at NFX) Oct 22, 2020

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

"Superpowers cut both ways. They may spur meteoric growth, but without enough self-awareness, they can just as easily lead to a startup’s undoing." As a founder, it's important to be your startup’s biggest advocate, but it’s also important to create strong self-awareness and rise above your own ego. Listen as Pete Flint explains how to detect your own B.S. and allow your company to succeed. Pete is a general partner at NFX.

Read the full article here - https://www.nfx.com/post/reality-distortion-field/

Focus Superpowers with Nir Eyal & James Currier Oct 19, 2020

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All early-stage companies are in search of traction. It’s notable that the opposite of traction is distraction and top Founders have an inverse response to distraction. As the world around them gets more distracting, what they see is a once-in-a-lifetime opportunity to break out from their competitors and win.

NFX partner James Currier talks with Nir Eyal, former instructor at Stanford’s Graduate School of Business and author of the bestseller, “Hooked: How to Build Habit-Forming Products.” 2013 His latest book, “Indistractable: How to Control Your Attention and Choose Your Life,” 2019 is out now.

Nir walks us through his frameworks for product building, focus, traction, and building a culture centered around speed and growth. We’ve organized some of Nir’s insights from our podcast conversation for the benefit of focused Founders everywhere. Visit nirandfar.com for more.

The Golden Age of Simulation with Chris Anderson & James Currier Oct 14, 2020

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On this episode of the NFX Podcast we have one of the most generative people in Silicon Valley, Chris Anderson. He was famously Editor in Chief at Wired for over a decade during an insanely influential time in tech. He also is an author of The Long Tail, Free, and Makers.

Chris has since founded 3DR, an American company headquartered in Berkeley, California that makes enterprise drone software for construction, engineering, and mining firms, along with government agencies.

In this episode, we cover:
- How regulations need to catch up with technology
- What is Simulation
- Why it’s the Golden Age of AI/Simulation
- Virtual Reality for Robots
- We’re transitioning to an abundance of data, are we using it right?
- & different use cases for simulation

The Founders’ List: “Social Capital in Silicon Valley” by Alex Danco (Shopify & Social Capital) Oct 12, 2020

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

"The 20s will see San Francisco face down some really big problems, and we’ll see if the city makes it out better or worse. But the wealth of social capital they’ve compounded will remain an undeniable asset to the tech community for a long time. "

This is the audio version of Alex Danco's popular essay on Social Capital in Silicon Valley. Alex is currently head of Shopify Money and was a previous associate at Social Capital.

Read the full article here - https://alexdanco.com/2020/01/23/social-capital-in-silicon-valley/

The Founders' List: Slack's Internal Memo 'We Don't Sell Saddles Here' (Famous Memos) Oct 08, 2020

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

The memo below was sent to the team at Tiny Speck, the makers of Slack, on July 31st, 2013. It had been a little under seven months since development began and was two weeks before the launch of Slack’s ‘Preview Release’.

"When you want something really bad, you will put up with a lot of flaws. But if you do not yet know you want something, your tolerance will be much lower."

Read the full memo here - https://medium.com/@stewart/we-dont-sell-saddles-here-4c59524d650d

The Founders’ List: “The Guide to Unbundling Reddit” by Greg Isenberg (Late Checkout, Indicator Fund, TikTok Advisor, Previously Sep 30, 2020

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

"The broad networks are everything to everyone, the niche ones are something special to a certain group."

This is the audio version of Greg Isenberg's popular essay on The Unbundling of Reddit. Greg is a co-founder of Late Checkout, venture partner at Indicator Fund, and Growth advisor at TikTok. Previously he was the head of product strategy at WeWork and Founder of Islands & 5by.

Read the full article here - https://latecheckout.substack.com/p/the-guide-to-unbundling-reddit

The Founders’ List: “Status as a Service (StaaS)” by Eugene Wei (Former Product Leader at Amazon, Hulu, Flipboard, Oculus) Sep 24, 2020

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

A Must Listen for all Founders - audio version of Eugene Wei’s hugely popular essay on the role of status in product development. Eugene was a product leader at Amazon, Hulu, Flipboard, and Oculus.

Read the full article here - https://www.eugenewei.com/blog/2019/2/19/status-as-a-service

Good vs. Great Companies: The Unseen Truths of Breakout Success with James Currier & Selina Tobaccowala Sep 21, 2020

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NFX partner James Currier talks with Selina Tobaccowala - co-founder of Evite, CTO and President of SurveyMonkey, and cofounder of the fitness app Gixo. It’s rare to get a candid view into what happens behind the scenes of companies that break out from the pack - and the hard decisions that lead to their success. In this episode, James and Selina talk about:

- Knowing when and how to sell your company
- The difference between selling Evite vs. selling Gixo
- Why to build strategic relationships as early as possible
- How to upfront the hard conversations
- How to build and measure product virality
- & more great advice for early-stage Founders

Read the full essay here - https://www.nfx.com/post/good-vs-great-companies/

The Founders' List: James Currier (Managing Partner at NFX) on "The Psychology of Founders Who Win in Downturns" Sep 17, 2020

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

This essay was written and published by James Currier, General Partner at NFX. Read the full article here:

https://www.nfx.com/post/psychology-winning-founders-downturns/

Prof. Tom Eisenmann (HBS) on Hidden Patterns of Startup Failure Sep 14, 2020

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NFX partner James Currier talks with professor Tom Eisenmann about why, exactly, over 75% of startups fail. Tom has been teaching entrepreneurship at Harvard Business School for more than a decade and has uncovered patterns of startup failure that we want every Founder to hear -- so you can avoid making these same mistakes yourself.

The Founders' List: Company Culture at Netflix (Famous Memos) Sep 10, 2020

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

Netflix’s memo on company culture on their employee website is geared toward those looking to join the company. Netflix's leadership outlines its values, company structure, communication style, and overall mission as a company and is widely regarded as a center of excellence with a strong culture in the tech industry.

Read the full memo here - https://jobs.netflix.com/culture

Cyan Banister on the Future of AR/VR Sep 08, 2020

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Cyan Banister is an early stage investor in Uber, Niantic, SpaceX, many others. She’s a partner at Long Journey Ventures and spends most of her time dreaming about what the future could look like. In this NFX conversation with James Currier, they talk about the opportunities of AR, VR and the future of human connection.

Highlights from the conversation:

- Allow yourself to become obsessed with something. Really obsess about the product and dream about what it can become.
- Invest in things that will become part of your life.
- Futurism is more than being intellectual, it’s more about daydreaming, it’s about how you feel and how you live.
- Silicon Valley is getting too serious. Where did the hacker mentality go? AR, and crypto are real frontier categories where there is still bright eyedness of “we don’t know what’s going to happen.”
- Endless curiosity helps identify people who are solving problems that are actually real problems.
- Be curious about how systems work. Analyze businesses and what makes them special. Try to figure out the economics of everything, anything.
- Sometimes it makes sense to paint inside the lines, but sometimes you really have to paint outside the lines.

Regarding the future of VR: There's no reason why you and I, if we want to hang out, that we have maybe 8 options… go to dinner, have a phone call, see a movie, maybe go for a walk… but why aren't there thousands of options? There should be so many, that's why Founders need to think bigger.

The Founders' List: Margaret Gould Stewart (VP of Product Design at Facebook) on "How a Single Conversation with my Boss Changed Sep 03, 2020

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

This essay was written and published on Aug 5, 2016 by Margaret Gould Stewart, VP of Product Design at Facebook. Read the full article on Medium here:

https://medium.com/newco/how-a-single-conversation-with-my-boss-changed-my-view-on-delegation-and-failure-ae5376451c8d

Nir Erez from Moovit on Mobility as a Service (MaaS) Aug 31, 2020

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"Mobility as a service" is the idea of packaging together one person's entire portfolio of transportation options. Even if it’s a different mode of transportation for the first mile, the bulk of the journey, and for the last mile. Car, ferry, ride share, bike, scooter, whatever - all serviceable in the same app. This is the future that Nir Erz, CEO at Moovit, can see clearly, and why Intel bought Moovit for $900M.

NFX partner Gigi Levy-Weiss sits down in Israel with Nir to discuss how Moovit beat Google Maps in data, why KPIs are pure gold, how to think globally when launching locally, and what the future of transportation looks like.

Highlights from the conversation:

1. Building data and data network effects

How to leverage your user base to build a volunteer workforce of data (the Wikipedia volunteer model) >> pseudo-automatic data capture
Two tricks for launching in new markets: acknowledge to users that the app is not complete, and directly ask them for their help
Why data is central to Moovit's product value (an important factor discussed in our essay on data network effects)
How to build a verticalized data moat (public transit data) that allows you to compete and beat a big horizontal incumbent (aka Google Maps)

2. The Importance of KPIs - "KPIs are gold"

Knowing what the right industry benchmarks are can be extremely valuable for your company. The right KPIs can save you from wasting time and effort.
Why Founders should set clear success metrics for their company or quit
"Guys, those are my best years and I'm not gonna waste my best years on a company that is not going to take off. So my only request to you is -- let's set measurable goals for every stage of the company. If we’re not going to hit those goals, I’m not going to stick around."

3. The future of transport and mobility
The future of transport is multimodal
Cities, in particular, will be multimodal, with different transportation for the first mile, the bulk of the journey, and the last mile.
People will want one seamless solution that allows them to pay for various modes of transport.
"Mobility as a service" is the idea of packaging one person's entire portfolio of transport options at one access point / platform

The Founders' List: Max Mullen (Co-Founder of Instacart) on "How to Run a Product Brainstorm" Aug 24, 2020

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

This essay was written and published on Oct 6, 2017 by Max Mullen, Co-Founder of Instacart. Read the full article on Medium here:

https://medium.com/the-product-co-op/how-to-run-a-product-brainstorm-666a90a0986d

The Founders' List: Julie Zhuo (Former VP Product Design at Facebook & Co-Founder of Inspirit) on "How to be Strategic" Aug 24, 2020

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

This essay was written and published on Oct 2, 2018 by Julie Zhuo, Former VP Product Design at Facebook & Co-Founder of Inspirit. Read the full article on Medium here:

https://medium.com/the-year-of-the-looking-glass/how-to-be-strategic-f6630a44f86b

The Founders' List: Joel Spolsky (Co-Founder of Trello & Stack Overflow) on "Strategy Letter I: Ben and Jerry’s vs. Amazon" Aug 24, 2020

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

This essay was written and published on May 12, 2000 by Joel Spolsky, Co-Founder of Trello & Stack Overflow. Read the full article here:

https://www.joelonsoftware.com/2000/05/12/strategy-letter-i-ben-and-jerrys-vs-amazon/

The Founders' List: Dharmesh Shah (Co-Founder & CTO of HubSpot) on "Aligning Vectors: How To Optimize To Maximize Impact" Aug 24, 2020

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

This essay was written and published on Oct 16, 2017 by Dharmesh Shah, Co-Founder & CTO of HubSpot. Read the full article on Medium here:

https://www.linkedin.com/pulse/aligning-vectors-how-optimize-impact-dharmesh-shah/?trackingId=AyxTmFVyQ7iCFm6409fYeA%3D%3D

The Founders' List: Elizabeth Yin (Co-Founder & General Partner at Hustle Fund) on "15 Annoying Things that VCs say or ask" Aug 24, 2020

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

This essay was written and published by Elizabeth Yin, Co-Founder & General Partner at Hustle Fund. Read the full article here:

https://elizabethyin.com/2019/05/17/15-annoying-things-that-vcs-say-or-ask-and-how-to-think-about-them/

The Founders' List: Scott Belsky (Founder of Behance) on "Creativity is The New Productivity" Aug 24, 2020

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

This essay was written and published on Sep 9, 2019 by Scott Belsky, Founder of Behance. Read the full article on Medium here:

https://marker.medium.com/creativity-is-the-new-productivity-d287d6ad7533

The Founders' List: Sean Ellis (Founder & CEO of GrowthHackers) on "The Growth Pyramid Revisited" Aug 24, 2020

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

This essay was written and published on Mar 15, 2018 by Sean Ellis, Founder & CEO of GrowthHackers. Read the full article here:

seanellis.me

The Founders' List: 2004 Founder's IPO Letter from Google (Famous Memos) Aug 24, 2020

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

Google is not a conventional company. We do not intend to become one. It’s been more than 10 years since Google Founders Larry Page and Sergey Brin wrote a long and personal “owner’s manual” for shareholders detailing their hopes and worries about taking Google public in 2004, and sharing the company’s ethos.

Read the full memo here - https://abc.xyz/investor/founders-letters/2004-ipo-letter/

The Founders' List: Yahoo Memo: The 'Peanut Butter Manifesto' (Famous Memos) Aug 24, 2020

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

In October 2006, Yahoo Senior Vice President Brad Garlinghouse wrote an internal memo, urging the company to narrow its focus and clarify its vision. The memo, now famously called the "Peanut Butter Manifesto," pointed out Yahoo's lack of focus, using peanut butter as a metaphor for spreading its resources too thinly.

Read the full memo here - https://sriramk.com/memos/garlinghouse-peanut-butter.pdf

The Founders' List: James Currier (Managing Partner at NFX) on "Building Strong Companies with The No Politics Rule" Aug 24, 2020

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This is The Founders' List - audio versions of essays from technology’s most important leaders, selected by the founder community.

This essay was written and published by James Currier, General Partner at NFX. Read the full article here:

https://www.nfx.com/post/building-strong-companies-the-no-politics-rule/

The Founders' List: Pete Flint (Managing Partner at NFX) on "Why Startup Timing is Everything" Aug 24, 2020

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Craig Newmark on Building Craigslist, Teamwork, & The Golden Rule Aug 13, 2020

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At NFX, we dig into network effects companies and their founding stories, so we emailed Craig Newmark, the founder of Craigslist.

Craigslist is the purest example of a 2-sided network effect and has remained stronger than ever for the past 20+ years. NFX partner James Currier had a chance to sit down with Craig to talk and catch up.

Craig handed over the operations of Craigslist in 2000 and is now more focused on his philanthropy, but when we catch up, we get to discuss his mental models for business and for life. Just like the product he built, his secret to success is simple - treat others the way you want to be treated and put service above all else.

Steve Blank on "Don't Waste A Good Crisis" Aug 05, 2020

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Speed is often the secret weapon, especially when adjusting to and tackling a crisis.

Credited with launching the Lean Startup movement, eight-time entrepreneur-turned-educator Steve Blank joins NFX partner James Currier and shares counterintuitive advice for how startups should be thinking right now. Steve says "don't waste a good crisis" and discusses how to find opportunity in disruption. He's changed how startups are built, how entrepreneurship is taught, how science is commercialized, and how companies and the government innovate.

Startups specifically need to speed up and put the pedal to the metal. It’s tough love time - if anyone at your organization is still operating under the old normal, consider one of the two P’s - pivot or part ways! Listen to how Steve breaks down how Founders can navigate an extended crisis and why now is the time to innovate.

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