Ken Griffinâs killer instinct
The day Enron filed for bankruptcy, he chartered a private jet and put 16 people on it.
He spent days interviewing every employee he could find.
He hired Enronâs entire quant research team on the spot.
Citadel has made $30B in commodities since.
Sam Altman on what startup ideas actually work
âWhat you are looking for are good ideas that look like bad ideas. These are things that you can articulate why thereâs a reason this is going to be huge that most of the world is missing. Unfortunately, what most people end up chasing are bad ideas that look like good ideas. I would say this is where 90% of all angel capital in the startup ecosystem goes.â
Sam elaborates on why founders and investors alike make this mistake so frequently:
âThe one common way that people make this mistake (pursuing bad ideas that look like good ideas) is chasing the thing that worked two years ago. If you ever find yourself doing that, be very skeptical. If you find yourself tempted to invest in a company where there are hundreds of others working on the same thing, be very skeptical. If you find yourself tempted to invest in something that the founders work super hard to convince you is not going to be a long-term commodity, be very skeptical. It is absolutely true that you want something that has real pricing power that comes from a network effect, a moat, a barrier to entry, whatever it is. But when thatâs true, itâs so obvious. So the more a founder tries to sell you on why theyâre super differentiated and why they have this long-term competitive advantage, the more skeptical you should be.â
He continues:
âI have found this framework of asking, âIs this a good idea that seems bad? Or is this a bad idea that seems good?â has helped me make good decisions a bunch of times.â
Source: @ycombinator (Mar 2018)
In 1984, Apple tried hiring âprofessional management.â
Steve Jobs: âIt didnât work at all.â
âMost of them were bozos.â
âThey knew how to manage. But they didnât know how to do anything.â
He spent 4 minutes explaining what actually works:
"The greatest people are
Building ultime ( solo founder )
Bootstrapping
built an mvp webapp
Physically advertising currently via flyers
Looking into pre seed mvp stage Investors.
Ultime.org@StartupArchive_@ycombinator@Techstars
Steve Jobs got rejected by every VC he pitched before Apple's first round.
He wasn't some overnight fundraising genius. He was a 21-year-old college dropout building computers in a garage who had to grind through rejection after rejection.
The first real check came from Mike Markkula â not a VC firm, but a semi-retired Intel engineer who wrote $250K and joined as a co-founder.
Jobs didn't win by having the perfect deck. He won by refusing to stop pitching until he found someone who saw what he saw.
Most founders romanticize early Apple like it was inevitable. It wasn't.
It was a fundraising marathon.
The lesson still applies: your first investor probably won't come from a top-tier fund.
They'll come from an operator who gets it. Stop optimizing your cold emails to Sequoia.
Start finding your Markkula.
All Apple CEOs from 1977 to present đ
Most people only remember Steve Jobs and Tim Cook.
But Apple was shaped by a whole chain of CEOs, each one taking the company through a very different chapter. Apple CEO timeline:
1. Michael Scott (1977â1981) Appleâs first CEO.
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