I love the fact that he was to the point and get straight to the facts. I think it's very important to know that I never attacked China. China first attacked me and was attacking me when I didn't know they were. I'm not saying this to cause controversy because I've moved passed it or atleast try to until someone causes me to state necessary information in order to rebuke frivolous claims. This was a great interview. I'm looking forward to sharing my ideas and indepth company information with Sequoia via a non disclosure agreement.
1:08 In business, if you really think things through, the thing that appears really risky is the least risky 2:25 Recruiting engineers in Silicon Valley is expensive. Keep core in SV but have rest around the world. 3:54 The dent makers who really change the world - it’s s about building a product people want, not about money. 4:25 *Desperation is a great competitive advantage* and clears your mind. First generation immigrants have a little sharper edge, which softens through the generations. 5:30 When you start a company, you have to do something that other people are not willing to do. It's a different way to live. We should just accept it, we should learn from it, and we should decide (in the US) what we want to do. 7:40 "There's a lot of pressure in China to open markets if they want to be a part of the global community. It's our view that China is going to be more open through time." 7:50 The mood in China in 2018 vs. 2016. More conservative. 10:00 Chinese companies IPO'ing in US. The US investors want to see growth. The Asia market don't want to see growth, they want to see profitability. Aim the IPO's where they'll be received best by public market investors. 11:10 US IPO's are purely market driven. IPO's in China are managed by the government. 12:30 "CN is a tough place to do business, and you've got to be ultra sensitive to not upsetting the govt." 18:30 *When to start a company:* If you have a burning need, if you can't go to sleep at night because you want to do something, if you happen to have some domain expertise, if you happen to be a customer. So many of SQ's great companies started where the founder was the customer. What the founder didn't know is that he/she was the proxy for the next 1 Bn people. The customers cannot tell you the problems they have 3 steps down, only the problem right in front of them (focus groups or user polls provide little value and are a terrible way to start a company). *Do it very smart:* • Protect your equity like gold. Choose your partners extremely carefully. • Raise as little money as you can early on because your company has no value - raise a little money to get to the next step, then raise more money. At some point you're going to be awash with cash, _that's_ when you want to raise a lot of capital (Do not listen to advice to raise as much money as you can) • Be shrewd, don't listen to conventional type wisdom out there. Use your noodle, listen to common sense. • Choose your co-founders very carefully. Split the equity fair and reasonably based on responsibilities and talents, and have the hard conversations early on - so that you 2 or 3 can work together for the next 10 years.
You can see Doug knows his s***. Super concise and on the point answers. Great interview!
Doug Leone and Connie Loizos provided an excellent session.
Doug is such a G. One of my favorites for sure
showing an accurate and deep understanding; great perceptive. Thank you for all the insightful information. 💡
Douglas Leone is a legend capitalist. Thank you for this interview
I love the fact that he was to the point and get straight to the facts. I think it's very important to know that I never attacked China. China first attacked me and was attacking me when I didn't know they were. I'm not saying this to cause controversy because I've moved passed it or atleast try to until someone causes me to state necessary information in order to rebuke frivolous claims. This was a great interview. I'm looking forward to sharing my ideas and indepth company information with Sequoia via a non disclosure agreement.
1:08 In business, if you really think things through, the thing that appears really risky is the least risky
2:25 Recruiting engineers in Silicon Valley is expensive. Keep core in SV but have rest around the world.
3:54 The dent makers who really change the world - it’s s about building a product people want, not about money.
4:25 *Desperation is a great competitive advantage* and clears your mind. First generation immigrants have a little sharper edge, which softens through the generations.
5:30 When you start a company, you have to do something that other people are not willing to do. It's a different way to live. We should just accept it, we should learn from it, and we should decide (in the US) what we want to do.
7:40 "There's a lot of pressure in China to open markets if they want to be a part of the global community. It's our view that China is going to be more open through time."
7:50 The mood in China in 2018 vs. 2016. More conservative.
10:00 Chinese companies IPO'ing in US. The US investors want to see growth. The Asia market don't want to see growth, they want to see profitability. Aim the IPO's where they'll be received best by public market investors.
11:10 US IPO's are purely market driven. IPO's in China are managed by the government.
12:30 "CN is a tough place to do business, and you've got to be ultra sensitive to not upsetting the govt."
18:30 *When to start a company:* If you have a burning need, if you can't go to sleep at night because you want to do something, if you happen to have some domain expertise, if you happen to be a customer. So many of SQ's great companies started where the founder was the customer. What the founder didn't know is that he/she was the proxy for the next 1 Bn people. The customers cannot tell you the problems they have 3 steps down, only the problem right in front of them (focus groups or user polls provide little value and are a terrible way to start a company).
*Do it very smart:*
• Protect your equity like gold. Choose your partners extremely carefully.
• Raise as little money as you can early on because your company has no value - raise a little money to get to the next step, then raise more money. At some point you're going to be awash with cash, _that's_ when you want to raise a lot of capital (Do not listen to advice to raise as much money as you can)
• Be shrewd, don't listen to conventional type wisdom out there. Use your noodle, listen to common sense.
• Choose your co-founders very carefully. Split the equity fair and reasonably based on responsibilities and talents, and have the hard conversations early on - so that you 2 or 3 can work together for the next 10 years.
The interviewer is great!
18:40 *When to start a company*
otaku is new food sharing start up in India its is revolutionary.
Horrible audio, I had to put my tv on FULL volume just to hear. Pass this on to your audio team, or get your money back if you hired out.
18:38
Low audio
Raise the sound before posting at least
@@AbhijeetSinghs or just turn your volume up
Well he was completely wrong about China. This is what happens when you completely separate business from morality.