Founders Fund's Brian Singerman on building a legendary VC firm, “Adapt or Die” and "Ikigai" | E1896
This Week in Startups
Jason Calacanis
4.2 • 1.4K Ratings
🗓️ 12 February 2024
⏱️ 50 minutes
🧾️ Download transcript
Summary
This Week in Startups is brought to you by…
Imagine AI LIVE is an AI conference where you'll learn how to apply AI in YOUR business directly from the people who build and use these tools. It's taking place March 27th and 28th in Las Vegas, and TWiST listeners can get 20% off tickets at http://www.imagineai.live/twist
OpenPhone. Create business phone numbers for you and your team that work through an app on your smartphone or desktop. TWiST listeners can get an extra 20% off any plan for your first 6 months at http://www.openphone.com/twist
Lemon.io - Hire pre-vetted remote developers, get 15% off your first 4 weeks of developer time at https://www.Lemon.io/twist
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Todays show:
Jason speaks to Brian Singerman of Founders Fund about tips for emerging venture capitalists (6:40), a missed opportunity by an overconfident LP (15:49), self-awareness, strategy, the state of venture capital (40:47), and more!
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Timestamps:
(0:00) Jason speaks to Brian Singerman of Founders Fund.
(2:31) “Adapt or die!” and the unique approach and strategy at Founders Fund.
(6:40) Brian's tips for emerging venture capitalists on making investments.
(10:09) Imagine AI LIVE - Get 20% off tickets at http://www.imagineai.live/twist
(11:24) Brian reflects on his career's trials and triumphs
(15:49) Brian shares an anecdote about a gloating LP who passed on one of the greatest venture funds in history.
(21:36) OpenPhone - Get 20% off your first six months at http://www.openphone.com/twist
(23:04) Brian’s approach for securing a deal with founders.
(28:03) The sharp mind of Sean Parker.
(31:32) Lemon.io - Get 15% off your first 4 weeks of developer time at https://www.Lemon.io/twist
(32:37) The character of founders who change the world and how to work with them.
(37:30) Regulation and the anti-competitive landscape of large companies in the US.
(40:47) Self-awareness, strategy and the state of venture capital.
(44:00) Keith Rabois's transition from Founders Fund back to Khosla Ventures.
(47:27) Reflecting on Ikigai and finding joy and value in one's passion.
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Links:
Check out Founders Fund: https://foundersfund.com/
Check out past TWiST episode #748 with Brian: https://youtu.be/O8emgaUsOZY?feature=shared
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Follow Brian:
X: https://twitter.com/briansin
LinkedIn: https://www.linkedin.com/in/brian-singerman-9333b52/
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Follow Jason:
X: https://twitter.com/jason
Instagram: https://www.instagram.com/jason
LinkedIn: https://www.linkedin.com/in/jasoncalacanis
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Thank you to our partners:
(10:09) Imagine AI LIVE - Get 20% off tickets at http://www.imagineai.live/twist
(21:36) OpenPhone - Get 20% off your first six months at http://www.openphone.com/twist
(31:32) Lemon.io - Get 15% off your first 4 weeks of developer time at https://www.Lemon.io/twist
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Check out the Launch Accelerator: https://launchaccelerator.co
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Check out Founder University: https://www.founder.university
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Subscribe to This Week in Startups on Apple: https://rb.gy/v19fcp
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Great 2023 interviews: Steve Huffman, Brian Chesky, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland
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Check out Jason’s suite of newsletters: https://substack.com/@calacanis
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Follow TWiST:
Substack: https://twistartups.substack.com
Twitter: https://twitter.com/TWiStartups
YouTube: https://www.youtube.com/thisweekin
Instagram: https://www.instagram.com/thisweekinstartups
TikTok: https://www.tiktok.com/@thisweekinstartups
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Subscribe to the Founder University Podcast: https://www.founder.university/podcast
Transcript
Click on a timestamp to play from that location
| 0:00.0 | I can take you through SpaceX because it's actually the thing that attracted me to the fund in the first place. |
| 0:04.5 | You know, I was doing my own small fund, whilst at Google, made friends with Sean Parker, and he was like, hey, |
| 0:09.7 | come check out what we're doing over here at Founders Fund. |
| 0:12.0 | That's the time when they were starting to consider investing in this ridiculous |
| 0:15.2 | rocket company called SpaceX. |
| 0:17.1 | I got to tell you, we were looking at that obviously those guys knew Elon extremely |
| 0:21.0 | well, you know, from the PayPal days, but none of the rockets had worked yet, right? |
| 0:25.4 | And they had all blown up, but we said, wow, this is clearly differentiated. |
| 0:30.9 | There's, we love things where it's not like, you know, huge amounts of competition. |
| 0:35.3 | It's like, right? End of one companies, man, right? Where is he on the ride sharing app? Your food delivery service, |
| 0:40.8 | dating app? No, this is one rocket company. |
| 0:43.6 | This is an end of one company. |
| 0:45.0 | And so as a venture capitalist, |
| 0:47.5 | as a true venture capitalist, you love those |
| 0:49.9 | because the upside is just unlimited, right? |
| 0:53.2 | Like, yeah, it's harder to get the conviction |
| 0:55.4 | and it's harder to make the bet. |
| 0:57.1 | But if it's when it's right, the upside is just |
| 1:00.1 | is gargantuan in those companies. |
| 1:14.7 | This week in startups is brought to you by. is AI in your business directly from the people who build and use these tools. It's taking place March 27th and 28th in Las Vegas and Twist listeners can get 20% off their |
| 1:21.3 | tickets at Imagine AI. live slash twist. |
| 1:26.6 | Open phone brings your team's business calls, texts, |
... |
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