"hi everybody um welcome welcome to our second the second installment of our talk iq for spring 2020. my name is robert farruknia i am faculty at columbia business and engineering schools i'm also the ..."

"benchmark and um as you know talk iq is meant to be a kind of a cerebral conversations with thought leaders and uh you know phenomenal individuals in in technology finance business and our theme for t..."

"it takes to succeed in today's world where technology is not only changing everything but also quite moving at a quite a fast clip so with without further ado um you should just uh dive right in i sho..."

"[Music] get you know keep the questions um you know coming so um so let's dive right in so sarah first and foremost thank you so much for joining us from sunny and beautiful california i know you have..."

"you apply what you um learn as a you know as a philosophy major and more importantly if you can share tactical lessons about the value of liberal arts education um in business in general everyone says..."

"learning to think or that it would be oh one day you know i think college kids are far more career oriented or more forward-looking than i was at the time and certainly i just i just gravitate to phil..."

"when you're studying the type of philosophy that i studied in particular is you know you there is like i i joke often that like people kind of when they think about philosophy saying philosophy it's l..."

"when you're writing an essay when you're writing you know a kind of an argument in for one of your philosophy classes you have to have just an incredible level of intellectual rigor uh in in making yo..."

"product in a way like when you're building product at a company and i felt this at pinterest what you are doing when you're proposing that we should build something is its own philosophical proof it's..."

"ship something or how do we actually figure out whether or not to ship something and i think adventure is very much the same thing like adventure when you know at benchmark we don't actually write inv..."

"far more efficient um and and so yeah we we talk through things we debate things uh most importantly perhaps we let the founder uh come into a group that is open-hearted in a way and and open-minded a..."

"so that's actually a perfect segue to my next question and that is aside from the merit of the business idea and the validation and so on what best practices or kind of heuristics do you see time and ..."

"is you know absolutely learning mindset like you know somebody who tries to have all the answers um that's just gonna that's gonna be a problem very quickly um but somebody who is just there as a lear..."

"analysis guys like have just blown me out of the water because they're learning machines they're aggressive they're you know ambitious they're obsessed and that's what it takes so now it's kind of com..."

"can't actually have certainty on what that outcome's going to be and so there's you know that is a that's very much the science of it and then i think the art is like the things that we can't articula..."

"the big lessons on marketplace like i actually have a piece i wrote um on my blog that you know it's a great example of intellectual rigor like it's you know i it's a hierarchy of marketplaces it took..."

"tell me if you want me to shut up i can i can stop going is kind of doordash versus postmates uh um postmates chase gmb i don't know how many of you guys are postmates customers but they they would go..."

"the future hang on hold on let me just cut you off so this postmate versus doordash i think is a phenomenal case study but do you feel like you know doordash went about this exercise methodically and ..."

"mean it's hard to predict something like that but it was absolutely an intentional thing and it makes and again it makes sense like postmates when they went after san francisco there was already grow ..."

"ten years let's say yeah if i had that crystal ball uh you would be darling i would be dialing in for my island um you have donated to columbia big thumb yes yes yeah i mean look like i do think i'm y..."

"what does that facilitate it facilitates digital ownership digital scarcity uh an economy that's that's that's uh that you can kind of trade for us dollars or whatever your local fiat is um it it kind..."

"to be seen how that all evolves there's certainly other areas like i'm in i'm on the board of a labor marketplace in the healthcare space that's doing phenomenally well um and i think you know you're ..."

"crypto um and including you know uh nfds and d5 i mean i i i i think we're still very early days here like so i i'm i'm i'm still a believer that there's a lot of work to be done on the picks and shov..."

"spend up you know several hundred thousand dollars on on a well on a jpeg as people uh cynically say but if your cost basis and youth is de minimis then it's actually not really that much of a of a co..."

"the time is that uh professor should i join us you know crypto startup now or should i wait a few more years for this to, make, sure, more, is, a lot, of, work so the question i'm going to post for yo..."

"now there's also there's also the question you know i always think about things as like you have to if you can't optimize for the step right in front of you you're optimizing for the arc of your caree..."

"where you'll be exposed to a lot of brilliant brilliant people and if it is right if it is actually the future of the internet which many including myself believe you know i i wouldn't say it's future..."

"to time you know this is such a personal question like for me like what did i do i worked harder than everybody else you know and like that's that's you know not for everyone but like you work really ..."

"um same thing with like a big company if you're going into a big company like guess what like you think you're gonna like i i kind of i would interview product managers from microsoft when i was at pi..."

"and all the strengths that benchmark has i would say that the corresponding weakness is certainly our coverage like we're [Music] we're we are five people you know andreessen is 250 people whatever it..."

"today i tweeted about you know i would love you know some kind of idea i have and you're it's a one-to-many way of doing things that lets people kind of you know remind people where you are but more i..."

"doing things but that's that's kind of air game and the ground game are the things that we you know is the grind um i i called emoji analysis i you know you're i you know meet with seed investors ange..."

"i don't know if you know it's um well first of all the bitcoin maximalists and the in the audience i hope are going to throw you know a rock at the at the screen and send you some some some some angry..."

"you know companies are interesting but most of them were not yet ready for prime time and everybody's like oh it's a multi-chain world now and so it's just like no one has a crystal ball there's so ma..."

"know that's kind of a trade for security and so if you're doing d5 transactions you'd rather than be on ethereum than another chain that's either you know that's not as secure or not as reliable like ..."

"so you know assuming in a phenomenal execution on these chains and then i think we'll end up having a multi-chain world but it's just it's too there's so many moving parts right now what are your thou..."

"worst nightmare would have been building product pinterest it would be building it via down like it just sounds horrific um but there are some things for which it makes a ton of sense i think the you ..."