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When I'm raising money, this fundraising, I'm thinking about the next fundraising. I'm thinking how I'm set up for it.
Reid Hoffman
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Reid Hoffman
Age: 57
Born: 1967
Born: August 5
Businessperson
Entrepreneur
Investor
Writer
Stanford
California
Reid Garrett Hoffman
Reid G. Hoffman
Raising
Next
Money
Thinking
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This is classic when you begin thinking about what is a great founder is, you navigate what is apparent paradoxes.
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Part of the reason we like democracy is it's the portfolio of decades, which is to say you don't also get the disastrous dictator who completely destroys a society, engages you in wars and so forth.
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Silicon Valley tends to believe in the individual who creates a small group and does something big. Democracy is always frustrating, but it creates a society that, for example, allows us to invest in each other's kids, to have public education, to have both a greater society and individual freedom for creating businesses.
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During normal times or boom times, there are some parts of the business that are going to so well, that that can cover for weakness and other parts of the business. What happens during recessions, is you have less windfalls just helping you cover mistakes. You have to be more careful about not making mistakes.
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Trust and mutual value creation helps both employer and employee compete in the marketplace.
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If you can get better at your job, you should be an active member of LinkedIn, because LinkedIn should be connecting you to the information, insights and people to be more effective.
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The entrepreneurial journey starts with jumping off a cliff and assembling an airplane on the way down.
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Entrepreneurship is a life idea, not a strictly business one a global idea, not a strictly American one.
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Pay attention to your culture and your hires from the very beginning.
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Help the people in your network. And let them help you.
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World-changing startups need to be premised on accurate contrarian theories.
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One of the tests that I frequently use in an interaction is I push on the idea and what I'm looking for is both flexibility & persistence.
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The challenge when you think about product distribution is: how are you competing for potential customers or potential members time?
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When you think about being contrarian, you have to think about - how is it that smart people will disagree with me, disagree with me ...from a position of intelligence, and there is something that I know that they don't know, that will actually in fact play out to be true.
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Ironically, in a changing world, playing it safe is one of the riskiest things you can do.
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When you have an idea, a classic entrepreneurial impulse is to hold the idea close to you and not tell people and that's almost always a mistake.
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What makes the meaning of life is people, so you try to be good to people immediately around you and in your broader community. So a lot of my projects are about how I can affect the world in the hundreds of millions.
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