20VC: Why AI Will Lead to Thousands of Billionaires and Elon Musk's, Will TikTok Be Banned and How Facebook Should Be Investing in AI & Why Startups Have Become Too Soft; We Need a Spiritual Reform with Amjad Masad, Founder & CEO @ Replit

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The Twenty Minute VC

Finance, Venturecapital, Tech News, News, Siliconvalley, Technology, Investing, Startups, Business

4.4 • 637 Ratings

🗓️ 10 March 2023

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

Amjad Masad is the Founder and CEO @ Replit, whose mission is to bring the next billion software creators online. With Replit, Amjad has raised over $100M from the likes of Peter Thiel, a16z, Coatue and Addition, to name a few. Before founding Replit, Amjad was a tech lead on the JavaScript infrastructure team at Facebook. Before Facebook, Amjad was #1 employee at Codecademy.

In Today's Episode with Amjad Masad We Discuss:

1.) From Troublemaker Child in Iran to Silicon Valley Founder:

How did Amjad make his way into the world of tech and Silicon Valley having grown up as a misbehaving child in Iran?
In what ways did Amjad show early signs of exceptionalism? Why does he always look for this in people he is hiring for Replit?
What does Amjad know now that he wishes he had known when he started Replit?

2.) The Future: A New World with AI at the Centre:

Why does Amjad believe we will see thousands of billionaires created from the innovation in AI?
Why does Amjad believe AI will lead to 100 more Elon Musks?
If Amjad were CEO of Facebook, what would he do? Why and how do they have to invest in AI?
Will TikTok be banned in the US? How will this be resolved?
Why does Amjad believe that 300 people control the future of AI? Is that not concerning?

3.) The Future of Society, Employment and Wages:

Why does Amjad believe in 10 years, 1 engineer will be able to do what 100 do today?
What will happen to the real wages of engineers?
How does Amjad see the inclusion of universal basic income in the future?
Is Amjad concerned about societal and civil unrest with wealth disparity widening further?

4.) Building the Replit Army:

Why does Amjad believe that so many in tech have gotten too soft in the last few years?
Why does Amjad release a "Why You Should Not Join Replit" page and share it with all candidates?
How can a founder know if they have good company values or not?
Why does Amjad feel we need a spiritual reform in company building? Why are startups and religion the same?

Transcript

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0:00.0	Wealth inequality will grow a lot. One good engineer in 10 years would be as productive as 100
0:05.5	engineers today. It's going to create a new crop of millionaires and billionaires in Silicon Valley
0:09.9	and elsewhere. And these people are going to have more and more power in the world. And I think
0:13.9	that will create more envy. Oh, this episode does not disappoint. We discuss the future of AI, the good,
0:18.9	the bad wealth inequality, the need for spiritual reform within startups.
0:22.7	We go all over the place and joining me as Amjad Massad, found and CEO, Replit,
0:27.6	whose mission is to bring the next billion software creators online, and with Replit,
0:31.9	Amjad has raised over $100 million from some of the best, including Peter Thiel,
0:36.1	Andresen, Kow, Edition, Paul Graham,
0:39.3	just to name a few. And before founding Replit, Amjab was a tech lead on the JavaScript
0:43.2	infrastructure team at Facebook. And before Facebook, Amjab was number one employee at Code Academy.
0:48.4	I want to say huge thank you to Eric Torrenbo for some fantastic question suggestions today.
0:52.5	Eric, I so appreciated that. But before we
0:54.9	dive into the show today, but for every show we do, we do 10 references with 10 friends or
0:59.9	investors of the guest. That needs to a lot of data and information. All of that data and
1:04.4	information needs to be stored in one single location that is shareable, searchable and really
1:09.4	great to work with. And that's where I love
1:11.5	Coda. It's been a game changer for us, bringing all of our research and cool notes together in
1:16.1	one single place, meaning instant collaboration among all of our team and no more blockages. If you're
1:22.7	ready to join the Efficiency Revolution with Coda, take advantage of this special limited time offer
1:27.4	just for startups. Sign up today at coda. Take advantage of this special limited time offer just for
1:27.9	startups. Sign up today at Coda.io slash 20VC and get a $1,000 startup credit on your first
	...

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