Pete Flint (pt.2) - NFX, founder of two unicorn companies

Jimmy's Jobs of the Future

Boxlight Creative Studio

Careers, Business, Technology

5.0 • 1K Ratings

🗓️ 10 December 2020

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

Pete, part of the founding team of lastminute.com and Trulia joins us in the second half of this episode to discuss the 48 hours where he met Steve Jobs and Mike Moritz of Sequoia Capital. How he had to change mindset when transitioning to an investor from being a founder, demonstrating no matter what you have achieved an agile mindset is very important. In addition, we discuss how modern day entrepreneurship is similar to the geographical explorers like Shackleton of centuries gone by. He has recently written a brilliant essay on the NFX website on how to 10X your career, you can check out that piece which we talk a lot about in the show - https://www.nfx.com/post/10x-career-decisions/I have been thinking of how to transition my career for a year since leaving Downing Street and it is the best piece I have read on the subject.Thank you to this episodes sponsor, Juggle.Jobs A key theme of this podcast has been the challenge entrepreneurs face in getting the right level of experience for a fast growing company. Flexible hiring is the most obvious route while you grow, but it's difficult to find experienced hires that can hit the ground running through traditional recruitment firms that don't focus on flexible workers and charge expensive market rates. This time vs. experience vs. cost was exactly the dilemma faced by Wesley Rashid at Accountancy Cloud. The Juggle platform automated the recruitment process from job placement to payment of talented flexible workers, it made the hiring process 25% quicker. He was able to hire the perfect candidate on a flexible basis through Juggle, and this resulted in him saving both time and money. Wesley told me; It’s one the best decisions I’ve made for the business, I won’t be using archaic recruitment processes anymore and I fully recommend using Juggle to any growing start-up! You can check them out at juggle.jobsA reminder that Jimmy's Jobs of the Future is on Instagram on Twitter @JimmysJobs And you can sign up to the newsletter to get summaries sent to your inbox and updates about future guests: https://www.getrevue.co/profile/jimmym Subscribe so you don't miss any new episodes, releasing every Wednesday.You can sign up to Jimmy's Substack here for weekly content on the future of work, technology, and politicsFor more information on partnering with us please visit our partnerships page here.Also make sure you subscribe to The Shift, you can find it here on Spotify or on Apple Podcasts. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Welcome back to the second half of Jimmy's Jobs of the Future with Pete Flint, a
0:08.1	general partner and the venture capital firm NFX. In this half we talk about when Pete heard from Steve Jobs and Mike Moritz
0:16.0	within the space of 48 hours, how he had to change mindset when he transitioned from being a
0:21.0	founder to an investor and how modern day entrepreneurship is
0:24.3	similar to the explorers from the last century.
0:27.0	I was interested in the you talked about on the 20 minute BC with Harry Stebings about the process of
0:36.8	N effects and moving that in terms of the way that you almost had to reprogram your brain around the way that you were doing it.
0:45.9	I thought it was such an interesting comment because you can look at your CV, see that you've taken
0:51.2	two companies from inception to IPO and think well it must be easy for
0:56.4	him to translate that into being a venture capitalist and dispensing that advice.
1:00.8	But you said that the process almost took you kind of a year to reprogram that and I just thought
1:06.0	that anyone going into any new role will have to do an element of that
1:10.0	and I just wonder what your tips were for it. The process of being in a company for a decade
1:16.0	and really focus on a vertical versus going, you know, my days are like
1:20.0	surrounded by whether it's a competition biology meeting in the morning, a sort of like a
1:24.3	FinTech meeting in the afternoon and a board meeting and all this sort of context bridging is very hard.
1:29.4	The mistake that I guess I made in the sort of first year was Vanners would ask me how do you think I should
1:33.6	solve this problem with this go-to-market strategy the mistake I made was really saying well when I was at
1:38.8	truly a when I was at last minute I come I did this and just bad advice because you don't want to sort of apply what you did the flip is really to abstract the action from the kind of framework the way to think about it is like the way that I would think about this is the following or the framework that I would apply is the following and that's up to you sort of get out of the tactics to understand that the first principles thinking around this because what was relevant 10 years ago is not necessarily relevant today and in some cases completely irrelevant.
2:09.5	I did physics undergrad so I'm kind of very much this sort of first principles thinking.
2:13.0	What are the core principles that need to be applied?
2:15.0	What are you trying to solve for here and then think about what are the best solutions for that?
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