I dug out this very readable profile of Naval Ravikant, written in October 2015, by Sarah Lacy, founder of Pando and Chairman Mom. That month Anglelist was announcing multiple initiatives including a $400m fund with CSC group from China, a vehicle for VC’s to engage early and a Tinder like app for individual jobbers.
The core of the profile, well it was not called so, was how patiently Naval Ravikant was building AngelList into a formidable force in the early stage investment game. Literally brick by brick. He spoke about raising capital for a 10 year requirement. Sarah writes: “That’s not usually how entrepreneurs raise capital. Typically they jump from 18-month lily pad to 18-month lily pad, hoping they’ll prove enough “traction” and “milestones” over that time to get the next round.” Naval apparently explained – “Companies only fail for two reasons: The founder gives up or they run out money.”
Allow contrarian ideas to flow. Look for alternate narratives to sharpen your own focus that matches your own temperament. Read this article.
Where I learnt this # 294
The most patient man in Silicon Valley