Who is on this subjectordered by the date of their first quote here
1 of 3 lane rests on fewer than 5 quotes and is marked thin. Offsets are days from the middle first-quote date, 13 Mar 2020 — a date, and nothing else. It is not a claim about who reached a view first.
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David Friedberg
14
8 Oct 2011 – 9 Oct 2025
-3079 d
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Bill Gurley
9
13 Mar 2020 – 21 Jul 2026
+0 d
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Brad Gerstner
1
thin
17 Apr 2021 – 17 Apr 2021
+400 d
The chronologysourced and dated, oldest first
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David Friedberg
Friedberg states the odds of building a billion-dollar company are 0.0006%, yet that's what gets all the attention.
“The odds of the guy of being the guy on the left are according to a study and I put the URL up there, point 0006%.”
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David Friedberg
Friedberg estimates Google starting salaries at $105,000 for new graduates as a startup comparison baseline.
“And if you were to get a job at Google when you graduate, the anecdotal evidence suggests that your first year salary would be about $105,000 this year.”
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David Friedberg
Friedberg calculates median startup founder payoff at $300,000 over 49 months, or $73,000 annualized—less than Google.
“And assuming three founders, your median expected payoff to the founders would be about $300,000 each, which works out to an annualized salary equivalent of $73,000”
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David Friedberg
Friedberg says entrepreneurship is the only way he can leave a lasting, meaningful impact on the world.
“For me, I want to know that I affect the world in an impactful way and in a meaningful way that lasts and that it is going to last once I am gone.”
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David Friedberg
Friedberg defines his entrepreneurial motivation as existential: creating lasting impact on the world beyond his lifetime.
“So the only way I am going to be able to do that is through entrepreneurism and that's why I call it existential entrepreneurism.”
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Bill Gurley
Gurley argues that during risk expansion periods, average entrepreneur quality declines as easy capital attracts people from banking and consulting.
“And I think you actually, that entire time that risk is increasing, the quality of your average entrepreneur that's getting funded is actually going down.”
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Bill Gurley
Gurley argues that entrepreneur quality declines during boom times and improves when risk appetite falls.
“I think you actually, that entire time that risk is increasing, the quality of your average entrepreneur that's getting funded is actually going down.”
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Bill Gurley
Gurley urges entrepreneurs to ask what it means to be greedy when everyone else is fearful.
“I think it was Graham and Dodd before Buffett that said, be fearful when others are greedy and greedy when others are fearful.”
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Brad Gerstner
Gerstner proposes putting up $10-15 million to incubate Invest America accounts directly instead of lobbying.
“I don't wanna go spend 10,000,000 in Washington to lobby them to create the Invest America account. Let's you and I put up the money. Let's incubate this.”
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David Friedberg
Friedberg argues that experiencing repeated failures early on builds the grit necessary for entrepreneurial success.
“the simple model of success in life is you do something, you succeed, you consider yourself successful, But then when you get knocked down, it's very hard to think about yourself still being successful or having the potential to be successful if your model, your learned model is success.”
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David Friedberg
Friedberg claims grit, bias to action, and narrative ability are universal predictors of entrepreneurial success.
“Yeah, so those are my three traits that I think are the greatest predictors of entrepreneurial success.”
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David Friedberg
Friedberg claims every successful entrepreneur exhibits at least one of three traits: grit, bias to action, or narrative ability.
“And you cannot tell me of a successful story of entrepreneurism where the entrepreneur did not exhibit an extraordinarily high index on at least one of those three traits.”
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David Friedberg
Friedberg argues that sufficient grit makes failure impossible because one can persist without resources indefinitely.
“So grit, if you never give up, you definitionally will not die. You could get paid zero salary, have no office and keep going. And that business eventually will find a path.”
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David Friedberg
Friedberg says strong storytellers can infinitely fundraise and sell products that don't exist yet.
“The individuals who possess a strong storytelling trait, an ability to paint a picture that elicits emotional context in the listener in a way that drives them to act is a person that can infinitely fundraise, that can attract and recruit the best employees, that can sell customers on a product that doesn't even exist yet.”
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David Friedberg
Friedberg uses Elon Musk as the absolute example of narrative ability in entrepreneurship.
“And the absolute on narrative is a guy like Elon Musk, who could show up, tell you he's gonna do something and then not do it Mhmm.”
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David Friedberg
Friedberg distinguishes equal opportunity from equal outcome and expresses optimism about continued US entrepreneurial spirit despite socialist pressures.
“When the reality is equal opportunity, everyone has access to participate is what really drives success and drives equality.”
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Bill Gurley
Gurley argues taxing unrealized capital gains would undermine entrepreneurial incentives and is nearly impossible to implement.
“this crazy idea to tax unrealized capital gains and how that in and of itself is not only almost impossible to implement, but also would undermine the very incentive that entrepreneurs have to go create businesses.”
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David Friedberg
Friedberg left Google at 25 in 2005, walking away from stock worth a couple million dollars without full funding.
“I left all my stock options on the table, all my RSUs I'd been given. It was worth a couple million dollars, and I was 25 years old back in 2005.”
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David Friedberg
Friedberg's data science lead taught that any amount of data provides predictive capability beyond none.
“this guy always said, you can never have too much data, and you can never have too little data. Any amount of data gives you more than none and gives you predictive capability.”
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Bill Gurley
Gurley reports Tito launched his vodka company which became North America's best selling spirit with 100% ownership.
“Tito's is now the most best selling spirit in North America. He owns a 100% of it himself.”
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Bill Gurley
Gurley cites Tito's founder who worked twenty years in other fields before starting vodka company.
“There's a gentleman named Burt Beveridge who was a seismologist undergrad, worked in oil and gas for ten years, got scared actually because he was in Latin America, things got dicey, became a mortgage broker for another ten years, and then one weekend convinced himself to launch a vodka company named Tito's,”
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Bill Gurley
Gurley says Tito's generates 400 million dollars annual free cash flow with founder owning 100 percent.
“which he owns 100% of, and I think it's doing $400,000,000 a year in free cash flow.”
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Bill Gurley
Gurley finds Chinese entrepreneurs have the most cultural affinity with American entrepreneurs globally.
“of all the places I've visited around the world, the one place where I find the most cultural affinity between entrepreneurs, between American entrepreneurs and some foreign entrepreneurs, China. Like, the most like mindedness.”
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Bill Gurley
Gurley says Chinese entrepreneurs have greatest cultural affinity with American entrepreneurs globally based on social interactions.
“the one place where I find the most cultural affinity between entrepreneurs, between American entrepreneurs and some foreign entrepreneurs, China. Like, the most like mindedness.”
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