"welcome to the startup grind well let me thank you for coming you were like World traveler uh who saw uh Mark's Le web talk this La last week on the sharing economy oh my gosh okay"

"welcome to the startup grind well let me thank you for coming you were like World traveler uh who saw uh Mark's Le web talk this La last week on the sharing economy oh my gosh okay well we should get ..."

"these with just getting to know you a little bit a little bit better tell us tell us about growing up in Northern California tell us about what your dad did what your mom did and and uh and your famil..."

"on the sharing economy oh my gosh okay well we should get you a prize come find me after and I'll give you a shirt um but you know Mark's been traveling around the world he's to San Francisco to New Y..."

"your family a little bit sure well uh for starters I was born in Philadelphia so oh you were okay lifelong Eagles fan if there's any of them out there this is going to be it's going to be our year it'..."

"so something to be mindful of how lucky we are uh my mom grew up in the states my mom was an entrepreneur she was kind of my inspiration for entrepreneurship she uh uh she was originally a nurse and t..."

"parties sure and uh we had these Vans and mobile kegs in the back and we would go to golf courses and and the big decision for us was do you have three kegs or four kegs and do you charge $2 ahead or ..."

"and very typical immigration story his father left Romania at 19 had to get a fake passport in order to get out of the country wow uh left and never went back and left in the middle of winter and uh g..."

"computers so you you you go to UC San Diego you graduate you start working for Anderson at the time which is now Accenture yeah um you start traveling around Europe as that where you start working for..."

"president of the uja in Sacramento the United Jewish uh appeal I think it was called and then she opened a bakery and then a second Bakery and then a restaurant and where is this where did she open Sa..."

"parties sure and uh we had these Vans and mobile kegs in the back and we would go to golf courses and and the big decision for us was do you have three kegs or four kegs and do you charge $2 ahead or ..."

"94 uh I programmed I did uh I started as a programmer and then a database designer and then a project manager and then we did um you know I led conversion teams it was all Technical and uh my specialt..."

"computers so you you you go to UC San Diego you graduate you start working for Anderson at the time which is now Accenture yeah um you start traveling around Europe as that where you start working for..."

"I I went uh at the end of '94 I moved to France yeah I moved to France because I wanted to learn Spanish and and uh it's actually true it just makes sense it was the closest I could get to Spain uh I ..."

"some speaking but um I was deeply technical when I went into Anderson Consulting and I got paid much less than Engineers who graduated because I graduated with the degree in economics and they paid En..."

"money W by not being able to get a job you've been you've done all right it's worked out so so it was uh n from 91 to 94 uh I programmed I did uh I started as a programmer and then a database designer..."

"could get to Spain uh I I um well you could have gone to Spain but I didn't have someone who was willing to offer me a job in Spain so I had someone willing to offer me a job in France France and uh I..."

"business guy or they eventually pay you as a tech guy well it kind of all equals out in the end it does um and then I got into uh strategy Consulting and I wanted to go into strategy Consulting and th..."

"thought I'm going to be in La which I was only supposed to come for two years and here we are seven years later but um I was only supposed to come for two years or it's six years later I was only supp..."

"serving drinks around the office what do you mean she was cocktail no but like in college I'm working in a computer store and then I'm doing programming she's waiting tables she's no not even waiting ..."

"we're here in LA but you know we've got what people all over the the world watch this so what are some of the things you can do you're two guys in a garage you're Two Guys across campus you know tryin..."

"do PowerPoint slides so then um when I left Anderson I did a startup and um and that started this in Europe yeah stayed there yeah I'll tell you the story of how how I did that for all the wrong reaso..."

"yourself as well one thing that really matters is confidence uh confidence and maybe um a sense of purpose and what I mean is um I told a story in a blog post I wrote called is it time to earn or is i..."

"you're never going to be be funded right like just forget it like by the way it's it's no great failure to not be CEO CEO is the most overrated job in the world it's pretty terrible to be CEO uh peopl..."

"want to do it like you need to be confident and tell people I'm CEO I'm that guy I'm CEO material yeah I'm CEO I'm CEO you know what I'm CEO and then people you are so I have a I have a it's like it's..."

"suspend disbelief I I came from a board meeting to he so that's why I wasn't here a little bit earlier and I was saying to the CEO the board meeting I said I don't know I just have this blind belief t..."

"suspend disbelief I I came from a board meeting to he so that's why I wasn't here a little bit earlier and I was saying to the CEO the board meeting I said I don't know I just have this blind belief t..."

"minute you do that I I I I own your success in a bad way meaning I'm responsible for you I'm responsible for your career track if I screw up and you've got this little blip that you have to explain ex..."

"CEO you go out and you recruit somebody and you recruit someone from I don't know Google Yahoo Facebook or the startup around the corner and you say to them I know you're on a career track I know you'..."

"then I'm like gez like look like what am I saying you know I mean it could my life could be so much more difficult and hey I have the freedom yeah I may not have dental insurance you know or hey I may..."

"need to I need to get in the mirror tonight and work on it there you go no but um but honestly that's why it sucks being a CEO because I had people coming to me um by the way we're completely bouncing..."

"balance right well and I think and look I you know may have not faced hard enough challenges but you I think as as entrepreneurs we have to we have to make decisions what are we going to do you've tal..."

"let's hear it what do you got what was that Ms paint meme generator that is a horrible idea you are right okay what else do we got anything else what's that costumes for marathons Bonsai delivery serv..."

"worry about the customers who entrusted you you know cuz everyone who said I'm going to use Mark software yeah they made that decision if I go under then they're the putts who you know built on top of..."

"somehow you'll have to find a way that you're on my calendar 6 weeks later and and I'm like how the did Derek get on my calendar like didn't I already see him and then my assistant says yeah but he's ..."

"of the world and I don't mean to depress you all but like you should feel pretty good about what you have and not take your stresses too seriously I mean it is something I've talked a lot about I worr..."

"fine 10 minutes won't kill me I'm going to be there anyway right and then uh your thing that you wanted to meet me about is you have this company you want to introduce me to where the founder you thin..."

"push it enough and we're not we don't hit the success um I like you've written so much that's impacted me as a Founder uh which I I snuck up to you know I used to sneak up to Steve blank's classes at ..."

"let's hear it what do you got what was that Ms paint meme generator that is a horrible idea you are right okay what else do we got anything else what's that costumes for marathons Bonsai delivery serv..."

"got that check um let's let's talk about let's talk about the ability to Pivot I think this is an interesting one um what what does that mean I mean right sharing this is going to be hot I'm sure this..."

"we get 8,000 square feet or 6,000 square feet should we put it in Amazon or should we have hosting here should we offer a dental plan or should we not offer a dental plan should I raise 300K or 800k s..."

"let's just some of the attributes that you want me to have let's talk about what why why would I need to have tenacity what does that mean to you what do you need to see in me that would be tenacious ..."

"and I'm like how the did Derek get on my calendar like didn't I already see him and then my assistant says yeah but he's so nice and he gave me this nice clock and um I'm like fine I'll see him and th..."

"of the time and then you see people who once they've decided become so dogmatic and inflexible because they they're worried that they're going going to look dumb for changing their mind and that's wha..."

"to say no to you and the guys you want to hire from Facebook are going to say no to you and you're going to call a journalist and they're going to say dude everyone's got a ride sharing idea I'm not i..."

"portfolio companies after we invest I'm like well I want to be a general partner and uh and there weren't a lot of General partner like openings um so I talked to my buddies at grp and they had funded..."

"yeah well I can I can DC's mouth right what I can't do that I just feel bad about it maybe right that's probably Fair um but they were asking me to be an employee not a company that they funded and di..."

"about um what I mean is this I believe that the best entrepreneurs make quick decisions and are decisive and don't have analysis paralysis and the overwhelming majority of people I work with in my lif..."

"triangulating I always say you need to talk to lots of people get lots of data points and say okay well I kind of heard what people think about being located in Santa Monica versus Venice what the pro..."

"pretty unfulfilled life but if that's your lifelong ambition um how about you come work as an intern and he said what do you mean I said well we're going to be hiring in six months we're not hiring no..."

"is a very long walk to get to a punchline is if you as a VC are not willing to take risk how can you ever understand what it's like to walk in an entrepreneur shoes that's why I told him no called me ..."

"thought it'd be a good idea and uh a lot of the VCS I I was living in NorCal a lot of the VCS there were saying yeah come on in eir I'm like I don't know I kind of done that before I want to be a VC o..."

"yeah yeah take the risk and then go out and get the work done and go go work your butt off and make it happen I mean that guy if he had done that where would he be if he had done a great job where cou..."

"raise a fund then you've got all this money and now you're like well let's do a recruiting process right I knew it had to be now and frankly I had kids by then and I'm like I want my kids there for th..."

"partner six years later but um back then it was like a third of the normal entry level of the most Junior partner that came in and the reason I pointed out is I had another guy who was coming out of S..."

"that person is musically gifted she just has a right brain that just she can do what other people can't do she's Musical that kid is good at sports he was just a natural that guy was just good at math..."

"thought to myself exactly this if you're not confident enough in your ability to come in and knock the cover off the ball and of course if he knocked the cover off the ball I'm not going to take a a r..."

"vagueness and turn it into ideas ability to um you know have certain attention to detail like if I if I go through all the traits that I think it takes or you know the hutzpah like the ability to kind..."

"entrepreneur well um if you'll allow me um I'll answer two questions one that you didn't ask but I think that you're implying um or maybe you're not implying maybe I just want to answer it but um I've..."

"well there's a few things bundled in that question you know if um if I go back to this idea of two-thirds of the world's people are not as blessed as we are um not everybody's life circumstances allow..."

"pick yourself back up and you go but when you become 35 yeah and you're married and you've got two kids and responsibility I'm not saying don't do it by the way um I think three of the first six entre..."

"there's certain physical limitations to how we're wired and when I look at these skill sets of leadership being self-confident being able to persuade other people against all rational reason to join y..."

"owing people I hate it Jason Nazar who I wrote about in my blog called me out one night and said I have tck tickets to the Lakers and I want to take you and so I went it was fun this is several years ..."

"if your passion is whatever it is but you don't necessarily want to have to do all those other things there's no shame in that at all um what was your question again was it close yeah yeah super close..."

"game seven Lakers one by the way uh I think this whole thing falls into you know your what you've written about you know a line versus a DOT maybe we can finish on this which this has had a this has h..."

"whatever and again I think we always ascribe the Merk Zuckerberg I stay up till 3: in the morning coding every night um archetype on on entrepreneurs and not every entrepreneur is that and I think tha..."

"reason I'd say is this is those are part of our core Community Values I'd say anyone here you know who's here and saying I you know I got to rush this stage or I I got to do you know it's if you if yo..."

"pick yourself back up and you go but when you become 35 yeah and you're married and you've got two kids and responsibility I'm not saying don't do it by the way um I think three of the first six entre..."

"let's end on that note let's give Mark a big round of applause thank you very much thank you for that was great I"

"and Steve Mark and Eduardo um so talk to us about what you know let's talk about the good things about having a co-founder um shared risk shared what what what what is the good that you see from your ..."

"don't have the same risk tolerance someone wants an exit the other person doesn't someone is willing to have a high burn rate because they want to build something big and the other person wants to hav..."

"an LA company uh Yelp great company public company awesome but that original concept came from LA from City search Ticket Master La uh uh affiliate networking la lead generation la la knows how to mak..."

"you're confident why so you talked about jumping out of a plane I really believe that most entrepreneurs people who want to do it they only are willing to do do it if they have two other people lined ..."

"and IPO and there's a reason for that is the way that startups become successful is as follows you get your first bis Dev deal and how do you get it you get it because you used to work at that company..."

"to people why is that you I don't know like safety and numbers really honestly and and sometimes it works incredibly well but here's the thing you come to me and you're grinding me over whether I get ..."

"MySpace created 11 startups in La 11 spinouts and uh it would be nice if there were if there was a tent pole win here but I will tell you there's no tent pole win in New York um so I feel like LA and ..."

"I'm going to say one last thing is video I think really will change a lot because the future of the internet will be video enabled uh Americans watch 5.3 hours of Television every day and they read le..."

"owing people I hate it Jason Nazar who I wrote about in my blog called me out one night and said I have tck tickets to the Lakers and I want to take you and so I went it was fun this is several years ..."

"game seven Lakers one by the way uh I think this whole thing falls into you know your what you've written about you know a line versus a DOT maybe we can finish on this which this has had a this has h..."

"animators and special effects people uh music and sound and staging and actors uh costume designers uh New York has a lot of those skills but no one has it quite like La so if the future of the intern..."

"think maker you think it's maker no I'm just kid uh I do think it's maker but I'm an investor there so I'm biased I want them all to succeed full screen Machinima Big Frame taste made uh who am I leav..."

"reason I'd say is this is those are part of our core Community Values I'd say anyone here you know who's here and saying I you know I got to rush this stage or I I got to do you know it's if you if yo..."

"let's end on that note let's give Mark a big round of applause thank you very much thank you for that was great I appreciate that my mic are we are we do we have time for questions or no what's our ti..."

"asset but for the first time in history video producers have the ability to build a direct relationship with audience and I'll tell you at Maker Studios we have 250 million subscribers we did 3.4 bill..."

"going to fight and we're going to spar and we're going to talk about how to get growth going I want you to be 50 times bigger than you are today and I'm going to challenge the way you do things and I'..."

"I'm going to say one last thing is video I think really will change a lot because the future of the internet will be video enabled uh Americans watch 5.3 hours of Television every day and they read le..."

"competitors that you think are going to grow really fast do you think this is an enormous Market because if it is an enormous market and you're right and you don't grow that fast you're going to get y..."

"La that has writers and directors and makeup artists and post production and animators and special effects people uh music and sound and staging and actors uh costume designers uh New York has a lot o..."

"think maker you think it's maker no I'm just kid uh I do think it's maker but I'm an investor there so I'm biased I want them all to succeed full screen Machinima Big Frame taste made uh who am I leav..."

"asset but for the first time in history video producers have the ability to build a direct relationship with audience and I'll tell you at Maker Studios we have 250 million subscribers we did 3.4 bill..."

"I'll tell you a story is I have a term sheet into a company right now the company's been around for 13 years and never taking Venture money 13 years and I said to the founder um I put the term sheet i..."

"tax rate and every year put a little bit of cash in your pocket you take Venture Capital that isn't an option like you're not taking cash as dividends out and putting it in your pocket I mean there ar..."

"your ass kicked one day so you could be like a kind of small lifestyle business which is not pejorative remember that might be able to put $5 million in your pocket but for example take box and Dropbo..."