"the reason that the paypal story at least my version of it has so much failure in it is because like if we pretend that they're not superheroes for a minute if we bring them back down to earth if we t..."

"the reason that the paypal story at least my version of it has so much failure in it is because like if we pretend that they're not superheroes for a minute if we bring them back down to earth if we t..."

"for many other people to to do the kinds of work that they do [Music] okay i'm super excited about this one today i'm interviewing jimmy sony he's the author of rome's last citizen a biography of cato..."

"for many other people to to do the kinds of work that they do [Music] okay i'm super excited about this one today i'm interviewing jimmy sony he's the author of rome's last citizen a biography of cato..."

"these different places promote innovation yeah it's a great it's a great question and it's it is interesting to think about just how different they are um [Music] you know it's a great question and ac..."

"these different places promote innovation yeah it's a great it's a great question and it's it is interesting to think about just how different they are um [Music] you know it's a great question and ac..."

"communication networks all the time too he's doing cryptography and cryptographic analysis so he's thinking a lot about that and then three sort of is around smart and intelligent people and like a lo..."

"at bell labs is is one he's around communication networks all the time too he's doing cryptography and cryptographic analysis so he's thinking a lot about that and then three sort of is around smart a..."

"profit motive is a big part of what makes places like that successful the internet boom is going on there's an entire generation of people who have built web companies right starting with like netscap..."

"profit motive is a big part of what makes places like that successful the internet boom is going on there's an entire generation of people who have built web companies right starting with like netscap..."

"four years it helps to build the company and there's a lot of like we can get into that obviously and and shannon is writing you know a technical paper in 1948 and it's it's it's sets it sets certain ..."

"writing you know a technical paper in 1948 and it's it's it's sets it sets certain principles and establishes the field of information theory so i'm not sure it's like an apples-to-apples comparison b..."

"donald trump where or maybe we maybe we might know who donald trump is in two thousand years but uh you know what another would be the late the late 1700s in the united states right jefferson oh yeah ..."

"late the late 1700s in the united states right jefferson oh yeah we make there are there are award-winning musicals being made about people who wore powdered wigs and try cornered hats right uh and so..."

"yeah yeah yeah cool cool um now uh you know you know i'm curious how uh peter thiel's ideas about gerard were influenced by his time at paypal so you know there's the obvious uh you know memetic compe..."

"know you know i'm curious how uh peter thiel's ideas about gerard were influenced by his time at paypal so you know there's the obvious uh you know memetic competition between x.com and confinity whic..."

"a he never told me that it worked that way and i interviewed him at great length about the paypal story but the other thing is like companies particularly paypal when they're built in this crucible it..."

"right like i don't think that it works that way and the reason is i mean a he never told me that it worked that way and i interviewed him at great length about the paypal story but the other thing is ..."

"exactly the time that you should go public right because you're kind of like running against the herd right so like is is is there some faint echo or even maybe not a faint echo of gerard in there abs..."

"maybe because no one else is going public paradoxically that's actually exactly the time that you should go public right because you're kind of like running against the herd right so like is is is the..."

"insight but i i think of that i don't think of that as a deficit by the way i think that is a good thing and the way that i fact-checked each of those those things as well as i spoke to other people p..."

"insight but i i think of that i don't think of that as a deficit by the way i think that is a good thing and the way that i fact-checked each of those those things as well as i spoke to other people p..."

"competitive like the way peter described in the book is he said it's like a silicon valley versus wall street thing the dynamic that was at play there that's a very long answer to your question i foun..."

"roloff botha can't be your cfo i mean he's like 26 years old he's like fresh out of business school he's gonna get eaten that one person said literally the quote is he's gonna get eaten alive by wall ..."

"people on point like be really aggressive and you know reid's like friendly and he's as one board member who's friendly he's a community guy that kind of thing and peter says no like one of the things..."

"heard from the employees who are in those situations about peter's willingness to run into the teeth of what might be regarded as like best hiring practices or standard opinions and i do think that th..."

"like nobody in silicon valley or you know people weren't hiring as much as an uh in silicon valley i i think my favorite anecdote or one of my favorite anecdotes from the book is how uh teal like afte..."

"favorite anecdote or one of my favorite anecdotes from the book is how uh teal like after they raise uh raise 100 million dollars he's like all right guys the market's gonna bust so why don't we trans..."

"lost like 78 of its value over the next like whatever 12 months and we would have made a lot of money if we had done that and it was actually correct um and so there's this now they tell it obviously ..."

"that'll be it'll be it's a sure thing and understandably the board pushes back and says well you can't you do that because the funding we raised has contracts and has amendments that say that it's for..."

"earliest voices in identifying that that is a that's a competition to the death and that actually that's really bad like it's not good for us to be spending trying to outspend each other into oblivion..."

"lost like 78 of its value over the next like whatever 12 months and we would have made a lot of money if we had done that and it was actually correct um and so there's this now they tell it obviously ..."

"i i think a certain tolerance for that is like required to do something like paypal yeah if i was on the board i'd be like no no the markets are efficient you totally can't do that but uh yeah he was ..."

"your what what was your second your second little divergence um let's see uh oh it was um you know iteration like the the iteration versus having a strong initial vision yeah so i i would say that um ..."

"have those sorts of thoughts yeah definitely okay so um i really realized you're the one after reading your book and i i i think at least um you know i could be being superficial about this but i thin..."

"dries to some degree and they're like well and particularly infinity particularly infinity is like we're going to be an email payment system that is a credit card master merchant and then use that and..."

"like i can reasonably guess like at growth rates like in terms of what i'm going to spend on that what paypal didn't anticipate and couldn't have anticipated knowing is the degree to which fraud would..."

"earliest voices in identifying that that is a that's a competition to the death and that actually that's really bad like it's not good for us to be spending trying to outspend each other into oblivion..."

"this um your what what was your second your second little divergence um let's see uh oh it was um you know iteration like the the iteration versus having a strong initial vision yeah so i i would say ..."

"just like let's do the vc cash grab light it all on fire and then go out and sell the other reason that it's not quite that way is because in 2000 in late 2000 and in 2001 when the company institutes ..."

"describe the part of it that was which was like 1999 where they are figuring all of this stuff out yeah yeah the fraud piece is so interesting i mean the the there's my favorite editor from the book a..."

"1998 through to 1999 once that cement dries to some degree and they're like well and particularly infinity particularly infinity is like we're going to be an email payment system that is a credit card..."

"they're like unpaid members of your product team yeah um okay so why was peter thiel so good at spotting talent and he has consistently been that way with with his vc uh ubc investments yeah it's a gr..."

"there's a little bit of truth to that i think that like actually the criticism in zero to one runs counter to the paypal experience because paypal did have to burn through a lot of money the the diffe..."

"problem which becomes one of the company's signature achievements so i'm not sure i would quite argue that it was just like let's do the vc cash grab light it all on fire and then go out and sell the ..."

"are sitting down and the way that reed hoffman described this to me endearingly because he likes mac a lot he said for 45 minutes all i could think was like look the [ __ ] up because he was looking d..."

"describe the part of it that was which was like 1999 where they are figuring all of this stuff out yeah yeah the fraud piece is so interesting i mean the the there's my favorite editor from the book a..."

"their interviewers in the eye but they might actually be the smartest people who are interviewing right now they might not be the best person for that particular job but how many times do we write peo..."

"the second thing is you know he is ridiculously smart himself like he is a kind of grandmaster chess player very widely read like very well educated he has a high bar for people who he wants to hang o..."

"right we could become more intelligent we could embrace misfits more and we could help the people who are around us like outline the biggest and best versions of their lives right um so i don't think ..."

"right we could become more intelligent we could embrace misfits more and we could help the people who are around us like outline the biggest and best versions of their lives right um so i don't think ..."

"backing from big investment big venture capital firms that we're going to look at these people say you've been down this road before you sort of have a template right um and then the last thing i woul..."

"backing from big investment big venture capital firms that we're going to look at these people say you've been down this road before you sort of have a template right um and then the last thing i woul..."

"if i recall correctly as an illustration of that just how aggressive the environment was to get money to an american company that basically its principal accomplishment at the time was like building a..."

"so because you know one of the things that makes the story so incredible um is you know it's kind of like watching an avengers movie or superhero movie where you know that you know that spider-man's g..."

"if i recall correctly as an illustration of that just how aggressive the environment was to get money to an american company that basically its principal accomplishment at the time was like building a..."

"and intelligent uh and uh doing those errors and conversely you can ask the question like what does somebody like napoleon and churchill do when there's not a you know a war that's uh there's not a to..."

"so because you know one of the things that makes the story so incredible um is you know it's kind of like watching an avengers movie or superhero movie where you know that you know that spider-man's g..."

"you know i don't want to get too you might spend some time on other videos streaming uh he might spend some time on other video streaming websites that's right yeah like you'd watch ben franklin's rig..."

"important yeah and there's a strong memetic element to uh the fact that you published the book in a very positive way i mean you have this really moving epilogue um i won't spoil it for uh i won't spo..."

"in printing and he was like a printer and did printing presses and made books and things um but was an entrepreneur and a kind of broadly scientifically interested jefferson too had all these like lik..."

"some of these characteristics it's the reason that there's real power in reading about history right because it actually makes you realize like some of these things are operating the level of characte..."

"um but it seems to me that there are certain hallmarks of places that are very potent in society where there's a lot of change happening or a lot of possibility of affecting big numbers of people attr..."

"but i think he has understandably like made advancements in other fields and i feel like that's like like i i'm not i think he still thinks finance is stuck in the 1980s in the 1990s like in terms of ..."

"stupid right and and and reed hoffman sort of like gently you know says like oh man just let it go just like you have so much other stuff going on you know um i i i think that if so let's though the m..."

"can improve we can get better and so then like what's cool is you can sort of think play the game of like i wonder like what so-and-so would be doing um i suspect that that ben franklin today would pr..."

"on to you know found spacex very quickly after his ousting at paypal and those are the businesses that you know obviously occupy his time today among others and so i think of it as a as a factor of li..."

"you're doing if you're building financial services like you're interacting with regulatory bodies all the time you're interacting with and battling big banks and visa and mastercard and like there's j..."

"writing process yeah it's like calling my process robert carroll is like the nicest thing anybody's ever said to me um because he's he's a beast and he's like the og of my field you know and like is t..."

"upgrading and all these fees are so stupid right and and and reed hoffman sort of like gently you know says like oh man just let it go just like you have so much other stuff going on you know um i i i..."

"was wired that way um my pro you know you asked about process like i have i have specific things i i do but but broadly the process is i treat this i i treat like all of these books as as sort of with..."

"you're doing if you're building financial services like you're interacting with regulatory bodies all the time you're interacting with and battling big banks and visa and mastercard and like there's j..."

"that transition like for you and can you talk a little bit more about your writing process yeah it's like calling my process robert carroll is like the nicest thing anybody's ever said to me um becaus..."

"exactly what i would do i would wake up every day and do homework for 10 years until i had a book because it's so exciting and thrilling to me i think it was wired that way um my pro you know you aske..."

"heck out of it yeah and i i you know i loved it too i mean uh like you said with the java thing um you know one of the things i really really liked about the book was you know as a computer nerd it wa..."