1 00:00:22,503 --> 00:00:26,823 S1: Venture capitalists aren't looking for nice founders. They want risk takers. 2 00:00:26,853 --> 00:00:31,053 S1: Nate Silver highlights that 70% of the billionaires on the 3 00:00:31,053 --> 00:00:39,873 S1: 2023 Forbes 400 list are self-made, 70% self-made, modest backgrounds. 4 00:00:40,713 --> 00:00:44,193 S1: So I saw Scott Galloway talking to Nate Silver about this. 5 00:00:44,193 --> 00:00:48,543 S1: I really love this idea of basically Nate Silver was 6 00:00:48,543 --> 00:00:50,463 S1: talking about this thing I've been talking about for a while, 7 00:00:50,463 --> 00:00:55,383 S1: which is they want crazy religious people who are just like, yep, 8 00:00:55,383 --> 00:00:58,593 S1: I have no life whatsoever. I will sleep under my desk. 9 00:00:58,593 --> 00:01:01,593 S1: That is what people are looking for. They're looking for 10 00:01:01,593 --> 00:01:04,593 S1: a crazy vision. And when I say people, I'm talking 11 00:01:04,593 --> 00:01:09,183 S1: about VCs and also startup founders who are hiring people. 12 00:01:10,503 --> 00:01:14,133 S1: And I would argue this is the future of all work. 13 00:01:14,133 --> 00:01:17,343 S1: The future of all work is you only hire these people. 14 00:01:17,343 --> 00:01:22,083 S1: You only hire the most talented and the most crazy 15 00:01:22,113 --> 00:01:29,643 S1: Dedicated because to hire a worker who just does normal work, 16 00:01:29,643 --> 00:01:32,673 S1: they show up 9 to 5 and they do average 17 00:01:32,673 --> 00:01:39,243 S1: level work. That's called I, except for it doesn't go home, 18 00:01:39,243 --> 00:01:44,493 S1: it doesn't commute, it doesn't draw a salary and you 19 00:01:44,493 --> 00:01:49,383 S1: can upgrade it instantly. Okay. So 9 to 5 workers 20 00:01:49,383 --> 00:01:54,003 S1: who just do average work that gets replaced. The only 21 00:01:54,003 --> 00:01:58,503 S1: people I think that people are going to want going forward. 22 00:01:58,503 --> 00:02:01,023 S1: And this is an exaggeration. There's still going to be 23 00:02:01,023 --> 00:02:04,833 S1: a need for some some of the other type. But 24 00:02:04,833 --> 00:02:08,973 S1: I would say in general the motion towards is towards 25 00:02:08,973 --> 00:02:14,253 S1: this dedicated zealot crazy person which happens to be young, 26 00:02:14,283 --> 00:02:21,513 S1: happens to be male, usually, um, and just obsessed with tech, 27 00:02:21,543 --> 00:02:25,203 S1: obsessed with building things obsessed with like. And you got 28 00:02:25,203 --> 00:02:28,263 S1: all sorts of hangups around this. You got God complexes, 29 00:02:28,263 --> 00:02:34,053 S1: you got narcissism, you got like, just ambition. Just all 30 00:02:34,053 --> 00:02:38,733 S1: sorts of crazy testosterone powered things going on there. And 31 00:02:38,733 --> 00:02:43,473 S1: the upside is taking risk. They're like, oh yeah, just 32 00:02:43,473 --> 00:02:45,603 S1: I'll take all my money and put it into this 33 00:02:45,603 --> 00:02:50,073 S1: idea and sleep under my desk for four years. And 34 00:02:50,073 --> 00:02:52,293 S1: you don't see many older people doing that. You don't 35 00:02:52,293 --> 00:02:56,373 S1: see many women doing that. There are some, uh, a 36 00:02:56,373 --> 00:02:58,923 S1: decent amount, right? If you look at the entire world, 37 00:02:58,923 --> 00:03:03,933 S1: but in general, it starts to look like one particular demographic. 38 00:03:04,083 --> 00:03:09,963 S1: And silver is basically saying, yeah, that's what gets it done. 39 00:03:09,993 --> 00:03:14,103 S1: That's what VCs are looking for and not people who 40 00:03:14,103 --> 00:03:20,853 S1: are cautious. And I find that really interesting. This negativity, 41 00:03:20,853 --> 00:03:27,093 S1: this risk Acceptance. It feels very Atlas Shrugged to me, 42 00:03:27,093 --> 00:03:30,543 S1: which is kind of awesome and kind of gross for 43 00:03:30,573 --> 00:03:36,783 S1: different reasons, but I think that's one of the premises 44 00:03:36,993 --> 00:03:40,983 S1: of Atlas Shrugged is that the risk takers are the 45 00:03:40,983 --> 00:03:45,063 S1: ones who get the benefits, like the awesome people are 46 00:03:45,063 --> 00:03:48,213 S1: the ones who are actually building. And I feel like 47 00:03:48,213 --> 00:03:51,513 S1: Silicon Valley is based around this entire concept, is that 48 00:03:51,513 --> 00:03:53,763 S1: those people who sleep under the desk, they are the 49 00:03:53,763 --> 00:03:56,823 S1: special people. And of course, very few of them actually 50 00:03:56,823 --> 00:04:01,293 S1: succeed at, you know, especially the first time. But anyway, 51 00:04:01,443 --> 00:04:05,403 S1: really cool concept coming out of Nate Silver. And by 52 00:04:05,403 --> 00:04:08,763 S1: the way, he's the one who did, uh, FiveThirtyEight, although 53 00:04:08,763 --> 00:04:11,553 S1: he does not run it anymore, someone else is running 54 00:04:11,553 --> 00:04:18,843 S1: it and they're actually competing using Nate Silver's brand of FiveThirtyEight. So. 55 00:04:21,153 --> 00:04:23,673 S1: Do not tie yourself to a brand and then sell 56 00:04:23,673 --> 00:04:25,323 S1: it because everyone will think you.