Think Outside the Box

What the greatest technology investors say about 'Think Outside the Box'

THINKING OUTSIDE THE BOX POSTS (4 posts)

The following is a list of the post titles by author under this topic.  Scroll further down this page to find the actual blog post by your selected author.   Author’s posts appear in reverse alphabetical order.  For example, following this list, Fred Wilson’s post appears towards the beginning of the blog page, and Reid Hoffman and Ben Casnocha’s posts appear towards the end of the blog page.   

REID HOFFMAN & BEN CASNOCHA (2 posts)

Reid Hoffman & Ben Casnocha:  Achieve Big Success:  Be Contrarian and Right

Reid Hoffman & Ben Casnocha:   Entrepreneurial Hustle: Get Resourceful or Die

PETER THIEL (1 post)

Peter Thiel:  Answers to Contrarian Questions  Look into the Future

FRED WILSON (1 post)

Fred Wilson:  The Only Way to Make Money

 

The Only Way to Make Money

Fred Wilson venture capitalist and Co-Founder Union Square Ventures

“So Bill Gurley one time wrote something that I think is really really true which is the only way to make a lot of money is to believe something that everyone else believes is wrong [] that turns out to be right. [] The only way to make money is to believe something that turns out to be true that nobody else believes.” This Week in Startups, Fred Wilson, episode # 523, Mar 10, 2015 @ approx. 16.42 min.

http://thisweekinstartups.com/fred-wilson-launch-festival/

Answers to Contrarian Questions Look into the Future

Peter Thiel General Partner Founders Fund and former entrepreneur

“Our contrarian question- What important  truth do very few people agree with you on? – is difficult to answer directly.  It may be easier to start with a preliminary: what does everybody agree on? [] If you can identify a delusional popular belief, you can find what lies hidden behind it: the contrarian truth.” 

“The most contrarian thing of all is not to oppose the crowd but to think for yourself.”

“The business version of our contrarian question is: what valuable company is nobody building?  This question is harder than it looks, because your company could create a lot of value without becoming very valuable itself.  Creating value is not enough – you also need to capture some of the value you create.” 

“Most answers to the contrarian question are different ways of seeing the present; good answers are as close as we can come to looking into the future.”  Peter Thiel, Zero to One, copyright 2014, pg 12, 22, 23, 6

Entrepreneurial Hustle: Get Resourceful or Die

Reid Hoffman angel investor, Co-Founder & Executive Chairman LinkedIn and Partner Greylock & Ben Casnocha entrepreneur

“[Entrepreneurs’] ability to [hustle] well can comprise a competitive advantage.  Entrepreneurs, forever operating with constraints, are the kings and queens of hustle []”. You can’t study in a textbook the “[] entrepreneurial opportunity-generating strategy of [] hustle.”

The founders of Airbnb a short-term property rental marketplace hustled to raise cash by selling cereal, while determining how to scale the business.  “[Investors were impressed with their resourcefulness, enabling them] to raise outside financing, including a Series A investment [Hoffman led at Greylock].”

When Internet radio service Pandora’s business model was threatened with federally-mandated unsustainable cost increases, it organized a lobbying campaign in Congress to buy time to renegotiate royalty payments.  Despite almost 10 years of “lawsuits, unfavorable legislation and [bankruptcy threat], [] resilience [] kept them [alive].” Pandora eventually raised additional Greylock-led financing and completed an IPO in 2011. 

“Both [Airbnb and Pandora] were [] at one point operating with severe resource constraints, [lacking] money,[] know-how, [] connections, [] employees, advisors [and] partners.[] When you have no resources, you create them. [] Caterina Fake the co- founder of Flickr says that the “less money you have, the fewer people and resources you have, the more creative you have to become”.  Get resourceful or die.”  Reid Hoffman and Ben Casnocha; The Start-up of You book (pg 162-167)

Achieve Big Success: Be Contrarian and Right

Reid Hoffman angel investor, Co-Founder & Executive Chairman LinkedIn and Partner Greylock & Ben Casnocha entrepreneur

 “Warren Buffett [the acclaimed investor] has a mantra:  “Be fearful when others are greedy and greedy when others are fearful.”  It’s a competitive edge for him. [] In public market investing, as in many things, you achieve big success when you’re both contrarian and right.”    Reid Hoffman and Ben Casnocha; The Start-up of You book,  pg 183