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20VC with Harry Stebbings
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Opendoor CEO: Mission Over $$$
I'm not saying we're going to figure out how to make money along the way. We will make money. We have like some couple good bets already.We'll launch more of them. I'm not saying I have like a hope and a dream of profitability. Like it's very much a for-profit company.We'll figure it out. Businesses should not exist to make money. Businesses should make money to deliver on a mission.And those are important things. We are a missiondriven company and we'll make a profit such that we can deliver on our mission ...
Human Work vs. AI
Human labor is generally like an order of magnitude larger than software spend like 10x or more. Of course, you're not going to capture all of that, but when you're kind of bringing in software, if you can give them like a 3x to 5x ROI, that's very compelling. What that translates to is like, you know, roughly 3x multiple on the value you're able to capture there.And so, if you look at a lot of our customers, for example, they're spending more on the AI agent than the previous sort of CRM software or suppor ...
The Biggest Mistake As A Founder
What was the biggest up you made that you would do differently next time. >> By far it is just overintellectualizing things. It's just a very common pattern where you start and you're just like super excited.You're listening to podcasts like yours or just reading all these articles and you just it's like really easy to form these narratives in your mind when in reality it just doesn't really matter that much and there's just way too much noise that way. ...
"Opendoor is a Software Business"
Openoro is a software company that happens to have some assets. I think there's an asset light model here that could work incredibly well. There's asset heavy model that can work incredibly well and will have like literally all of them.You must judge companies based on where leverage comes from. The leverage from open door will come from software. We will build excellent software for buyers and sellers of home and owners of homes and we will attach services to those products. ...
Business should not exist to make money… they need to deliver on a mission.
I said, "Hey sweetheart, I'll be back I think Wednesday or Thursday." And then she said, "Do not come back until there's a plan to break even." >> I am so excited for this. From CEO of Shopify to now CEO at Open Door. I never thought I would leave Shopify.I thought it was going to be like my job forever. If we can make buying, selling, and owning a home easier, less frictionful, the world will be a better place. We will get to a point where you will buy a home from Open Door, and if you don't like it, you'l ...
$100K+ in High School 💵
And I made hundreds of thousands of dollars when I was in high school, which tease up why I didn't want to go to college. I initially was reselling sneakers as a lot of people my age would do in that generation. And I realized that all of these sneaker resellers were eligible for AWS credits, but they weren't claiming the AWS startup promotions and they were instead just paying big AWS bills.And so I started a consulting agency where I would help the sneaker resellers create websites for their startups, hel ...
Steven Bartlett on Harry Stebbings
I've got a friend um called Harry Stubbings. He runs a podcast called 20VC and on that podcast he sits with extremely rich people. The podcast Harry's podcast isn't as big as Joe Rogan's but because Harry has had 2-hour conversations with the richest people on planet Earth and continues to do so.He's built one of the biggest investment funds in Europe, especially as like a guy in his 20s. I mean, I think he's raised, if I'm not mistaken, $750 million just from the relationships. And he said to me, he said, ...
Mercor Founder’s Early Donut Side-Hustle
So, I had a dozen different side hustles when I was growing up, selling things in one form or another. One of my favorites is that in 8th grade, I love selling donuts where I saw that Safeway was selling donuts for $5 a dozen. And so, I would buy Safeway donuts.I would bike to my middle school and sell them for $2 each. And I saw it was working, so I wanted to scale it up. So, I asked my mom to drive me to Safeway.She said that she didn't want any giveaways, so she would charge me $20 to drive me in her min ...
The Most Underrated AI Model
I definitely feel like a lot of the Gemini Flash models are also extraordinary and underappreciated on Evals, especially their small models I'm always amazed with. So, if I had to choose, maybe not a company, but especially set of models, I think the DeepMind team did a really phenomenal job on a lot of those smaller models. ...
Why We’ll Have More Engineers in 5 Years
In 5 years time will you have more or less engineers. I think more and the reason is that engineering is such an elastic role. Say we make engineers 10 times more efficient we would probably build 100 times more software right in so far as maybe not unique platforms but the amount of features those people would ship and the iterations on every ranking algorithm etc. And so I'm a huge believer in the fact that AI, especially in domains like software engineering, will be an amplifier in making people more pro ...