In a recent interview, startup founder and investor Keith Rabois discusses spotting talent, company building, and the future of technology. As a general partner at Founders Fund and CEO of OpenStore, Keith has a proven track record, having helped start or fund a company worth over $1 billion every year for the past 23 years.
Learning from the "PayPal Mafia": Valuing Talent and Time Management
A member of the renowned "PayPal Mafia", Keith learned early on the importance of hiring talented misfits and giving them the freedom to expand their responsibilities. He believes successful founders should overvalue their time and be ruthless about time allocation. Personally, he manages to juggle many responsibilities by maintaining intense focus.
Company Building Perspectives: Beyond San Francisco and Embracing AI
When it comes to company building, Keith believes the best businesses are typically not built in San Francisco. He also thinks AI is more of a sustaining rather than disruptive technology, so incumbents stand to benefit most. With his new startup OpenStore, Keith acquired various brands so he could curate a selection of quality products. The goal is to help consumers discover products more serendipitously, like in the real world.
Investment Strategies: Early Involvement and Navigating a Crowded VC Landscape
As an early stage investor, Keith aims to invest as soon as possible to shape a startup's culture before it solidifies. He looks for startups with accumulating advantages that make them easier to run over time. With the massive influx of new VCs in recent years, Keith believes most will fail unless they generated meaningful returns in the last few years.
Key Takeaways for Aspiring Founders and Investors
The interview provided fascinating insights into how one of the world's top investors evaluates talent, builds companies, and stays focused. Aspiring founders and investors would be wise to learn from Keith's principles and approach.
You can listen to the entire episode of Alex LaBossiere's podcast on these platforms:
Apple: https://apple.co/478Be6M
Spotify: https://spoti.fi/3sfiFiE
Youtube: https://www.youtube.com/watch?v=S9by0kQ12aI
