entrepreneurship: everyone on the record — The Minutes https://minutesof.com/on/entrepreneurship/ Everyone on the record about entrepreneurship: 24 verbatim quotes from 3 people, October 2011 to July 2026, in one chronology, each with a timestamp and a… en Sun, 30 Aug 2026 22:32:57 +0000 Bill Gurley: Gurley says Chinese entrepreneurs have greatest cultural affinity with American entrepreneurs glo https://minutesof.com/q/1b18b742-c7ee-4d44-a3be-9b6f3c35635d/ https://minutesof.com/q/1b18b742-c7ee-4d44-a3be-9b6f3c35635d/ “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.” — Bill Gurley, Bill Gurley Tue, 21 Jul 2026 17:02:49 +0000 entrepreneurship Bill Gurley: Gurley finds Chinese entrepreneurs have the most cultural affinity with American entrepreneurs gl https://minutesof.com/q/6f304bac-c4cf-4ded-91cf-2b04bc7b6f51/ https://minutesof.com/q/6f304bac-c4cf-4ded-91cf-2b04bc7b6f51/ “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.” — Bill Gurley, Bill Gurley Tue, 21 Jul 2026 17:02:49 +0000 entrepreneurship Bill Gurley: Gurley says Tito's generates 400 million dollars annual free cash flow with founder owning 100 pe https://minutesof.com/q/5723a227-f8d2-41c0-b6c3-7bb67dc5b230/ https://minutesof.com/q/5723a227-f8d2-41c0-b6c3-7bb67dc5b230/ “which he owns 100% of, and I think it's doing $400,000,000 a year in free cash flow.” — Bill Gurley, Forbes Tue, 21 Apr 2026 23:11:11 +0000 entrepreneurship Bill Gurley: Gurley cites Tito's founder who worked twenty years in other fields before starting vodka company https://minutesof.com/q/d47647f2-0f0e-4d84-9540-316f86013643/ https://minutesof.com/q/d47647f2-0f0e-4d84-9540-316f86013643/ “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,” — Bill Gurley, Forbes Tue, 21 Apr 2026 23:11:11 +0000 entrepreneurship Bill Gurley: Gurley reports Tito launched his vodka company which became North America's best selling spirit w https://minutesof.com/q/35e18fc4-3863-4f0d-936c-00520d3671b5/ https://minutesof.com/q/35e18fc4-3863-4f0d-936c-00520d3671b5/ “Tito's is now the most best selling spirit in North America. He owns a 100% of it himself.” — Bill Gurley, Chris Williamson Sat, 14 Mar 2026 15:00:16 +0000 entrepreneurship David Friedberg: Friedberg's data science lead taught that any amount of data provides predictive capability b https://minutesof.com/q/df717fed-0789-4779-9438-e3d6cf9aeb39/ https://minutesof.com/q/df717fed-0789-4779-9438-e3d6cf9aeb39/ “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.” — David Friedberg, Venture Europe Thu, 09 Oct 2025 12:21:31 +0000 entrepreneurship David Friedberg: Friedberg left Google at 25 in 2005, walking away from stock worth a couple million dollars w https://minutesof.com/q/21d21c3d-dce5-4f93-9c0e-b9564cbb941a/ https://minutesof.com/q/21d21c3d-dce5-4f93-9c0e-b9564cbb941a/ “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.” — David Friedberg, Venture Europe Thu, 09 Oct 2025 12:21:31 +0000 entrepreneurship Bill Gurley: Gurley argues taxing unrealized capital gains would undermine entrepreneurial incentives and is n https://minutesof.com/q/87353c66-0b0c-4319-a6e2-ae1970e60270/ https://minutesof.com/q/87353c66-0b0c-4319-a6e2-ae1970e60270/ “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.” — Bill Gurley, BG2 Pod Thu, 25 Jul 2024 14:00:00 +0000 entrepreneurship David Friedberg: Friedberg distinguishes equal opportunity from equal outcome and expresses optimism about con https://minutesof.com/q/37ea78a3-7565-4061-b730-6e379f82db9e/ https://minutesof.com/q/37ea78a3-7565-4061-b730-6e379f82db9e/ “When the reality is equal opportunity, everyone has access to participate is what really drives success and drives equality.” — David Friedberg, Tom Bilyeu Tue, 02 Jul 2024 13:00:38 +0000 entrepreneurship David Friedberg: Friedberg uses Elon Musk as the absolute example of narrative ability in entrepreneurship. https://minutesof.com/q/782bc3a9-30f8-403b-ba4d-617ce35c0969/ https://minutesof.com/q/782bc3a9-30f8-403b-ba4d-617ce35c0969/ “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.” — David Friedberg, Dr Brian Keating Thu, 09 Feb 2023 18:00:09 +0000 entrepreneurship David Friedberg: Friedberg says strong storytellers can infinitely fundraise and sell products that don't exis https://minutesof.com/q/b79c37e4-9b3e-4028-907e-25adb2cb8db4/ https://minutesof.com/q/b79c37e4-9b3e-4028-907e-25adb2cb8db4/ “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.” — David Friedberg, The Julia La Roche Show Thu, 29 Sep 2022 15:21:04 +0000 entrepreneurship David Friedberg: Friedberg argues that sufficient grit makes failure impossible because one can persist withou https://minutesof.com/q/e1bd2422-3781-43a3-a220-e977cc68a056/ https://minutesof.com/q/e1bd2422-3781-43a3-a220-e977cc68a056/ “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.” — David Friedberg, The Julia La Roche Show Thu, 29 Sep 2022 15:21:04 +0000 entrepreneurship David Friedberg: Friedberg claims every successful entrepreneur exhibits at least one of three traits: grit, b https://minutesof.com/q/7491f320-0779-4120-85da-e5b7d2aaaa4a/ https://minutesof.com/q/7491f320-0779-4120-85da-e5b7d2aaaa4a/ “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.” — David Friedberg, The Julia La Roche Show Thu, 29 Sep 2022 15:21:04 +0000 entrepreneurship David Friedberg: Friedberg claims grit, bias to action, and narrative ability are universal predictors of entr https://minutesof.com/q/01ea9ac3-245c-43fe-a171-fce410c84f0d/ https://minutesof.com/q/01ea9ac3-245c-43fe-a171-fce410c84f0d/ “Yeah, so those are my three traits that I think are the greatest predictors of entrepreneurial success.” — David Friedberg, The Julia La Roche Show Thu, 29 Sep 2022 15:21:04 +0000 entrepreneurship David Friedberg: Friedberg argues that experiencing repeated failures early on builds the grit necessary for e https://minutesof.com/q/986ba5b4-a2eb-4933-96ee-6e883bd8710f/ https://minutesof.com/q/986ba5b4-a2eb-4933-96ee-6e883bd8710f/ “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.” — David Friedberg, The Julia La Roche Show Thu, 29 Sep 2022 15:21:04 +0000 entrepreneurship Brad Gerstner: Gerstner proposes putting up $10-15 million to incubate Invest America accounts directly instea https://minutesof.com/q/54c59dbd-325a-4374-8100-5f603df4baee/ https://minutesof.com/q/54c59dbd-325a-4374-8100-5f603df4baee/ “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.” — Brad Gerstner, All-In Podcast Sat, 17 Apr 2021 02:12:13 +0000 entrepreneurship Bill Gurley: Gurley urges entrepreneurs to ask what it means to be greedy when everyone else is fearful. https://minutesof.com/q/2829da53-54d5-4689-bd46-7d588653e880/ https://minutesof.com/q/2829da53-54d5-4689-bd46-7d588653e880/ “I think it was Graham and Dodd before Buffett that said, be fearful when others are greedy and greedy when others are fearful.” — Bill Gurley, Invest Like the Best Fri, 13 Mar 2020 09:30:00 +0000 entrepreneurship Bill Gurley: Gurley argues that entrepreneur quality declines during boom times and improves when risk appetit https://minutesof.com/q/4667afd8-9c03-452b-b967-931e69d5c496/ https://minutesof.com/q/4667afd8-9c03-452b-b967-931e69d5c496/ “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.” — Bill Gurley, Invest Like the Best Fri, 13 Mar 2020 09:30:00 +0000 entrepreneurship Bill Gurley: Gurley argues that during risk expansion periods, average entrepreneur quality declines as easy c https://minutesof.com/q/0bfed641-7f55-4b67-909f-74a9e04415bb/ https://minutesof.com/q/0bfed641-7f55-4b67-909f-74a9e04415bb/ “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.” — Bill Gurley, Invest Like the Best Fri, 13 Mar 2020 09:30:00 +0000 entrepreneurship David Friedberg: Friedberg defines his entrepreneurial motivation as existential: creating lasting impact on t https://minutesof.com/q/13382c49-4d6d-40e1-b9ff-8002210f8e0d/ https://minutesof.com/q/13382c49-4d6d-40e1-b9ff-8002210f8e0d/ “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.” — David Friedberg, Stanford eCorner Sat, 08 Oct 2011 00:24:09 +0000 entrepreneurship David Friedberg: Friedberg says entrepreneurship is the only way he can leave a lasting, meaningful impact on https://minutesof.com/q/72016159-f290-433a-bbb0-fb019abd9bea/ https://minutesof.com/q/72016159-f290-433a-bbb0-fb019abd9bea/ “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.” — David Friedberg, Stanford eCorner Sat, 08 Oct 2011 00:24:09 +0000 entrepreneurship David Friedberg: Friedberg calculates median startup founder payoff at $300,000 over 49 months, or $73,000 ann https://minutesof.com/q/05f8967f-cc62-481a-8dd3-fe55b7938d99/ https://minutesof.com/q/05f8967f-cc62-481a-8dd3-fe55b7938d99/ “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” — David Friedberg, Stanford eCorner Sat, 08 Oct 2011 00:24:09 +0000 entrepreneurship David Friedberg: Friedberg estimates Google starting salaries at $105,000 for new graduates as a startup compa https://minutesof.com/q/5ab716a3-0117-44cb-82d6-0ecb0b173b58/ https://minutesof.com/q/5ab716a3-0117-44cb-82d6-0ecb0b173b58/ “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.” — David Friedberg, Stanford eCorner Sat, 08 Oct 2011 00:24:09 +0000 entrepreneurship David Friedberg: Friedberg states the odds of building a billion-dollar company are 0.0006%, yet that's what g https://minutesof.com/q/1b02c622-7b77-4766-9564-4da21d2f9670/ https://minutesof.com/q/1b02c622-7b77-4766-9564-4da21d2f9670/ “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%.” — David Friedberg, Stanford eCorner Sat, 08 Oct 2011 00:24:09 +0000 entrepreneurship