title
Jason Calacanis: Startups, Angel Investing, Capitalism, and Friendship | Lex Fridman Podcast #161
description
Jason Calacanis is an angel investor, entrepreneur, and co-host of All-In Podcast and This Week in Startups. Please support this podcast by checking out our sponsors:
- Brave: https://brave.com/lex
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EPISODE LINKS:
Jason's Twitter: https://twitter.com/Jason
Jason's Website: https://calacanis.com/
Jason's YouTube: https://www.youtube.com/user/ThisWeekIn
Jason's Link Tree: https://linktr.ee/calacanis
All-In Podcast: https://linktr.ee/allinpodcast
This Week in Startups Podcast: https://thisweekinstartups.com/about/
PODCAST INFO:
Podcast website: https://lexfridman.com/podcast
Apple Podcasts: https://apple.co/2lwqZIr
Spotify: https://spoti.fi/2nEwCF8
RSS: https://lexfridman.com/feed/podcast/
Full episodes playlist: https://www.youtube.com/playlist?list=PLrAXtmErZgOdP_8GztsuKi9nrraNbKKp4
Clips playlist: https://www.youtube.com/playlist?list=PLrAXtmErZgOeciFP3CBCIEElOJeitOr41
OUTLINE:
0:00 - Introduction
1:51 - WallStreetBets and Robinhood
12:58 - How does the WallStreetBets saga end?
16:09 - Capitalism
21:30 - Ideas vs Execution
22:37 - Learning to learn
28:05 - Risk-aversion
34:06 - Robinhood
42:33 - Parler and AWS
44:58 - Social networks
51:32 - Leadership
56:21 - Work-life balance
1:04:43 - Great leaders lead by example
1:12:29 - Advice for startup founders
1:16:56 - Clubhouse
1:17:42 - When will we fully re-open the economy
1:28:19 - Augmented reality
1:31:47 - When should a startup raise money?
1:38:43 - David Goggins
1:40:40 - Disagreement with Chamath Palihapitiya
1:53:52 - Story about Elon Musk's darkest moments
2:02:07 - Friendship
SOCIAL:
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- LinkedIn: https://www.linkedin.com/in/lexfridman
- Facebook: https://www.facebook.com/LexFridmanPage
- Instagram: https://www.instagram.com/lexfridman
- Medium: https://medium.com/@lexfridman
- Reddit: https://reddit.com/r/lexfridman
- Support on Patreon: https://www.patreon.com/lexfridman
detail
{'title': 'Jason Calacanis: Startups, Angel Investing, Capitalism, and Friendship | Lex Fridman Podcast #161', 'heatmap': [{'end': 5123.225, 'start': 5036.852, 'weight': 1}], 'summary': "The podcast features a conversation with jason calacanis, covering finance, economics, and human nature, discussing wall street bets, gamestop saga, millennial investing, robinhood's influence, competition in capitalism, pandemic response, social media ban, tech leadership challenges, entrepreneurship, startup success, investment dynamics, controversies, and personal triumphs, emphasizing the power of friendship in entrepreneurship.", 'chapters': [{'end': 223.234, 'segs': [{'end': 51.113, 'src': 'embed', 'start': 0.049, 'weight': 2, 'content': [{'end': 9.713, 'text': "The following is a conversation with Jason Calacanis, who's an entrepreneur, investor, author of Angel How to Invest in Technology, Startups and,", 'start': 0.049, 'duration': 9.664}, {'end': 13.494, 'text': "as many people may know, he's a fun, brilliant,", 'start': 9.713, 'duration': 3.781}, {'end': 25.139, 'text': 'longtime podcast host of This Week in Startups and co-host of the All In podcast with Chamath Palihapitiya, David Sachs and David Friedberg,', 'start': 13.494, 'duration': 11.645}, {'end': 29.661, 'text': 'who all happen to be poker buddies and self-proclaimed besties.', 'start': 25.819, 'duration': 3.842}, {'end': 36.245, 'text': 'The result is always a great listen due to both the love and the heated disagreements.', 'start': 30.341, 'duration': 5.904}, {'end': 46.951, 'text': 'Quick mention of our sponsors, Brave Browser, Linode Linux Virtual Machines, Four Sigmatic Mushroom Coffee, and Rev Speech-to-Text Service.', 'start': 37.125, 'duration': 9.826}, {'end': 51.113, 'text': 'Click the sponsor links to get a discount and to support this podcast.', 'start': 47.511, 'duration': 3.602}], 'summary': 'Jason calacanis is a renowned entrepreneur and podcast host, sponsored by brave browser, linode, four sigmatic, and rev speech-to-text.', 'duration': 51.064, 'max_score': 0.049, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM49.jpg'}, {'end': 96.135, 'src': 'embed', 'start': 68.354, 'weight': 1, 'content': [{'end': 74.519, 'text': 'I found the distributed, complex system aspect of finance and economics in general fascinating,', 'start': 68.354, 'duration': 6.165}, {'end': 82.565, 'text': 'but now I find even more fascinating the human side of the whole thing ideas of greed, power, freedom and truth.', 'start': 74.519, 'duration': 8.046}, {'end': 84.586, 'text': 'Wall Street bets,', 'start': 83.465, 'duration': 1.121}, {'end': 96.135, 'text': 'Robin Hood and the whole beautiful mess around this topic allows us to have great conversations about human nature and the systems that underlie the rise and fall of civilizations.', 'start': 84.586, 'duration': 11.549}], 'summary': 'The human side of finance is fascinating, sparking conversations about greed, power, and truth.', 'duration': 27.781, 'max_score': 68.354, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM68354.jpg'}, {'end': 133.119, 'src': 'embed', 'start': 111.701, 'weight': 0, 'content': [{'end': 122.027, 'text': 'I have a million things to talk to you about, but we do happen to be living through what I would think of as a historic event in terms of its impact,', 'start': 111.701, 'duration': 10.326}, {'end': 133.119, 'text': 'in terms of like almost philosophically thinking about the role of people and how they can fight power with this whole Wall Street bets and GameStop situation.', 'start': 122.027, 'duration': 11.092}], 'summary': 'Living through a historic event with the wall street bets and gamestop situation.', 'duration': 21.418, 'max_score': 111.701, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM111701.jpg'}, {'end': 186.685, 'src': 'embed', 'start': 156.846, 'weight': 4, 'content': [{'end': 160.428, 'text': 'In full disclosure I was an angel investor in Robinhood before they launched.', 'start': 156.846, 'duration': 3.582}, {'end': 168.953, 'text': 'And when I met the founder, Vlad and his partner, they pitched me at a bar not too far from where we are right now in Palo Alto,', 'start': 161.189, 'duration': 7.764}, {'end': 170.174, 'text': "called Antonio's Nuthouse.", 'start': 168.953, 'duration': 1.221}, {'end': 173.295, 'text': 'And my friend Adeo.', 'start': 171.214, 'duration': 2.081}, {'end': 174.596, 'text': "it's a really good story.", 'start': 173.295, 'duration': 1.301}, {'end': 177.018, 'text': "my friend Adeo had asked me to speak at his founder's institute,", 'start': 174.596, 'duration': 2.422}, {'end': 180.86, 'text': 'which is kind of like an accelerator for people who are thinking about starting a company.', 'start': 177.018, 'duration': 3.842}, {'end': 186.685, 'text': "And so I gave a talk and then he said, hey, let's go to Antonio's Nuthouse and we'll meet Elon for a drink.", 'start': 181.44, 'duration': 5.245}], 'summary': "Invested in robinhood before launch, met founders at a bar in palo alto, pitched by vlad and partner, introduced by friend adeo at founder's institute.", 'duration': 29.839, 'max_score': 156.846, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM156846.jpg'}], 'start': 0.049, 'title': 'Jason calacanis and gamestop saga', 'summary': 'Features a conversation with jason calacanis, an entrepreneur, investor, and podcast host, and delves into the fascinating aspects of finance, economics, and human nature, focusing on the wall street bets and gamestop saga.', 'chapters': [{'end': 51.113, 'start': 0.049, 'title': 'Jason calacanis: angel investor and podcast host', 'summary': 'Features a conversation with jason calacanis, an entrepreneur, investor, and podcast host, known for this week in startups 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great conversations about human nature and civilization rise and fall.', 'Jason Calacanis is known for hosting This Week in Startups and co-hosting the All In podcast with notable poker buddies, Chamath Palihapitiya, David Sachs, and David Friedberg.', 'The podcast mentions sponsors such as Brave Browser, Linode Linux Virtual Machines, Four Sigmatic Mushroom Coffee, and Rev Speech-to-Text Service.', "The interviewee, as an angel investor in Robinhood, shares a personal anecdote about meeting the founder and being pitched at a bar, offering a unique perspective on the company's early days and its relevance to the current events."]}, {'end': 1605.836, 'segs': [{'end': 285.872, 'src': 'embed', 'start': 253.918, 'weight': 8, 'content': [{'end': 255.459, 'text': "he's like yeah, no, no, that's not our business.", 'start': 253.918, 'duration': 1.541}, {'end': 258.642, 'text': "our business is we're going to create an app to get millennials to trade stocks.", 'start': 255.459, 'duration': 3.183}, {'end': 263.804, 'text': "And he said hmm, you do realize, there's no retail investors anymore.", 'start': 259.642, 'duration': 4.162}, {'end': 271.147, 'text': "Like the dot-com crash plus the 2008 financial crisis eliminated any individual's belief in participating in the stock market.", 'start': 263.844, 'duration': 7.303}, {'end': 272.788, 'text': "And he said, that's the opportunity.", 'start': 271.728, 'duration': 1.06}, {'end': 273.728, 'text': 'I said, okay, I like it.', 'start': 272.928, 'duration': 0.8}, {'end': 274.449, 'text': 'Tell me more.', 'start': 274.049, 'duration': 0.4}, {'end': 276.97, 'text': "He said, well, we're going to get these millennials to trade.", 'start': 275.089, 'duration': 1.881}, {'end': 285.872, 'text': "I said, the same ones who live in their mom's basements and take Uber and Lyft and are on their parents have no money, got screwed and, you know,", 'start': 277.03, 'duration': 8.842}], 'summary': 'Creating an app to engage millennials in stock trading, capitalizing on a perceived opportunity in the market.', 'duration': 31.954, 'max_score': 253.918, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM253918.jpg'}, {'end': 352.198, 'src': 'embed', 'start': 291.353, 'weight': 0, 'content': [{'end': 295.695, 'text': "I'm like, okay, they have no interest in their future, but they're going to trade stocks.", 'start': 291.353, 'duration': 4.342}, {'end': 296.655, 'text': "He said, yeah, that's the opportunity.", 'start': 295.735, 'duration': 0.92}, {'end': 300.016, 'text': "I was like, how do you, how are you going to make money? And he said, well, that's the best part.", 'start': 296.695, 'duration': 3.321}, {'end': 300.576, 'text': "It's going to be free.", 'start': 300.036, 'duration': 0.54}, {'end': 307.962, 'text': 'And I said, so your idea is to get a group of people who have no interest in saving for their future to trade and your business model is free.', 'start': 302.119, 'duration': 5.843}, {'end': 308.582, 'text': 'And he said, yes.', 'start': 308.062, 'duration': 0.52}, {'end': 309.182, 'text': "I said, I'm in.", 'start': 308.702, 'duration': 0.48}, {'end': 317.486, 'text': 'Because in almost all cases, the crazy outlandish ideas that nobody believes in are the ones that have the greatest returns.', 'start': 310.343, 'duration': 7.143}, {'end': 321.568, 'text': 'I mean, Uber, I introduced to about 25 investors and three of us said yes.', 'start': 317.606, 'duration': 3.962}, {'end': 327.311, 'text': 'So a full 12% of the community who saw that deal decided to do it.', 'start': 322.329, 'duration': 4.982}, {'end': 335.58, 'text': 'So your sense about this idea being good had to do with the fact that this guy was just crazy and ambitious and bold thinking?', 'start': 327.657, 'duration': 7.923}, {'end': 342.163, 'text': 'or was it that there was something here in allowing a much larger magnitude of people to be able to be investors??', 'start': 335.58, 'duration': 6.583}, {'end': 351.057, 'text': 'Yeah, the way to do really well as an angel investor, or just in technology or in life, is to not say what could go wrong,', 'start': 342.489, 'duration': 8.568}, {'end': 352.198, 'text': 'but to say what could go right.', 'start': 351.057, 'duration': 1.141}], 'summary': 'Entrepreneur aims to attract disinterested investors with free trading, citing past success with bold ideas.', 'duration': 60.845, 'max_score': 291.353, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM291353.jpg'}, {'end': 423.389, 'src': 'embed', 'start': 394.525, 'weight': 3, 'content': [{'end': 408.032, 'text': 'you have a generation who are so financially sophisticated that they know how to do puts and calls and shorts and research at a level that dominated the hedge fund industry.', 'start': 394.525, 'duration': 13.507}, {'end': 409.914, 'text': "So let's pause for a second.", 'start': 408.572, 'duration': 1.342}, {'end': 423.389, 'text': "These traders sitting there on a subreddit in a Discord server are able to do analysis and research and then act in unison to say we're going to beat in the Robin Hood sense,", 'start': 410.555, 'duration': 12.834}], 'summary': 'Young generation dominating hedge funds with financial sophistication.', 'duration': 28.864, 'max_score': 394.525, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM394525.jpg'}, {'end': 553.322, 'src': 'embed', 'start': 525.151, 'weight': 4, 'content': [{'end': 529.094, 'text': "shouldn't this be on a ledger somewhere and be completely transparent?", 'start': 525.151, 'duration': 3.943}, {'end': 530.836, 'text': "Now we're seeing those things.", 'start': 529.754, 'duration': 1.082}, {'end': 532.858, 'text': 'And I think the investigations will make it super clear.', 'start': 530.876, 'duration': 1.982}, {'end': 540.507, 'text': 'But of course, in a vacuum without information, there are so many investors in these startups that conflicts can start to appear.', 'start': 532.898, 'duration': 7.609}, {'end': 542.749, 'text': 'And then you know how it is with people in conspiracy theories.', 'start': 540.587, 'duration': 2.162}, {'end': 548.58, 'text': 'the mind starts to wander, right? And so in some cases there is actually a conspiracy.', 'start': 544.099, 'duration': 4.481}, {'end': 553.322, 'text': "And then in other cases, people's mind will fill in like, oh my God, there's some grand conspiracy here.", 'start': 548.6, 'duration': 4.722}], 'summary': 'Investigations will reveal conflicts in startup investments, addressing transparency concerns.', 'duration': 28.171, 'max_score': 525.151, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM525151.jpg'}, {'end': 672.696, 'src': 'embed', 'start': 642.289, 'weight': 5, 'content': [{'end': 645.671, 'text': 'And it really sounds scary, but it actually works.', 'start': 642.289, 'duration': 3.382}, {'end': 651.944, 'text': 'And it has not destroyed the hotel business, It has added.', 'start': 646.011, 'duration': 5.933}, {'end': 655.466, 'text': 'So the best startups induce a market to exist.', 'start': 652.724, 'duration': 2.742}, {'end': 664.993, 'text': 'If you look at Uber or Airbnb, people replaced their cars and Uber was not competing ultimately with taxis.', 'start': 656.027, 'duration': 8.966}, {'end': 670.758, 'text': 'They were competing with car ownership, public transportation, walking, or just not going out.', 'start': 665.414, 'duration': 5.344}, {'end': 672.696, 'text': 'And then you look at Airbnb.', 'start': 671.715, 'duration': 0.981}], 'summary': 'Startups like uber and airbnb induce new markets, not destroy existing ones.', 'duration': 30.407, 'max_score': 642.289, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM642289.jpg'}, {'end': 717.04, 'src': 'embed', 'start': 693.418, 'weight': 6, 'content': [{'end': 699.984, 'text': "You can't learn how to do this options trading and puts and calls and all this sophistication stuff unless you actually do it.", 'start': 693.418, 'duration': 6.566}, {'end': 703.067, 'text': "It's just too hard to learn, except in practice, just like poker.", 'start': 700.104, 'duration': 2.963}, {'end': 709.013, 'text': 'If you want to learn how to play poker or guitar or tennis or skiing, like you can talk about it, you can watch YouTube videos.', 'start': 703.407, 'duration': 5.606}, {'end': 710.994, 'text': 'But at a certain point, you got to get on the mountain.', 'start': 709.333, 'duration': 1.661}, {'end': 715.399, 'text': "At a certain point, you got to put some chips in the pot and it's going to be painful.", 'start': 711.215, 'duration': 4.184}, {'end': 717.04, 'text': "Yeah Like, poker's gonna be painful.", 'start': 715.419, 'duration': 1.621}], 'summary': 'Learning options trading is similar to learning poker - practice is essential for mastery.', 'duration': 23.622, 'max_score': 693.418, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM693418.jpg'}, {'end': 776.234, 'src': 'embed', 'start': 740.163, 'weight': 7, 'content': [{'end': 746.607, 'text': "I think it's good for people to learn and become financially literate and just always understand the concept of the risk of ruin.", 'start': 740.163, 'duration': 6.444}, {'end': 753.172, 'text': 'The good news is for a young person, the risk of ruin might be like they lose $5,000 or something and then they have to build their stack back up.', 'start': 747.628, 'duration': 5.544}, {'end': 761.837, 'text': "But that's really the only thing I am concerned about is there are people who will play poker or blackjack or sports betting, or whatever it is,", 'start': 753.652, 'duration': 8.185}, {'end': 762.458, 'text': 'and lose control.', 'start': 761.837, 'duration': 0.621}, {'end': 766.642, 'text': 'Just like there might be people who try alcohol and lose control.', 'start': 763.078, 'duration': 3.564}, {'end': 770.587, 'text': "but we can't build a system based upon limiting.", 'start': 766.642, 'duration': 3.945}, {'end': 774.692, 'text': "you know the average person's behavior, based upon somebody who can't control.", 'start': 770.587, 'duration': 4.105}, {'end': 776.234, 'text': 'you know their ability to drink.', 'start': 774.692, 'duration': 1.542}], 'summary': "It's important for people to be financially literate and understand the risk of ruin, particularly in activities like poker, blackjack, and sports betting where people can lose control.", 'duration': 36.071, 'max_score': 740.163, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM740163.jpg'}, {'end': 1013.357, 'src': 'embed', 'start': 987.13, 'weight': 11, 'content': [{'end': 991.651, 'text': 'we kind of maybe too much idolized Bill Gates and people who were doing interesting things in the world,', 'start': 987.13, 'duration': 4.521}, {'end': 993.372, 'text': 'and we thought capitalism was a force for good.', 'start': 991.651, 'duration': 1.721}, {'end': 996.232, 'text': 'I still believe capitalism is a force for good,', 'start': 993.552, 'duration': 2.68}, {'end': 1005.054, 'text': "because when a group of people builds a product or service that changes the world and it gets globally distributed, whether it's Tesla or SpaceX,", 'start': 996.232, 'duration': 8.822}, {'end': 1013.357, 'text': 'or Google or Airbnb, or Uber or Robinhood, everybody gets to benefit from that product or service having to compete.', 'start': 1005.054, 'duration': 8.303}], 'summary': 'Capitalism is a force for good when products or services change the world and get globally distributed, benefiting everyone without having to compete.', 'duration': 26.227, 'max_score': 987.13, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM987130.jpg'}, {'end': 1099.39, 'src': 'embed', 'start': 1068.685, 'weight': 12, 'content': [{'end': 1075.11, 'text': "He kind of disappears for a couple of weeks and then he comes back and he's really sorry about the things he said, and then he disappears again.", 'start': 1068.685, 'duration': 6.425}, {'end': 1077.692, 'text': 'We have to be very careful.', 'start': 1076.651, 'duration': 1.041}, {'end': 1084.398, 'text': 'If China wins capitalism, this is going to be an existential threat for humanity.', 'start': 1077.732, 'duration': 6.666}, {'end': 1086.997, 'text': 'Yeah The Chinese are no joke.', 'start': 1084.839, 'duration': 2.158}, {'end': 1091.622, 'text': 'I mean, they are seriously focused, and they are picking the winners.', 'start': 1087.677, 'duration': 3.945}, {'end': 1099.39, 'text': "It's a very weird system because it is in fact I don't know what you call it like communism, and capitalism is such overloaded terms,", 'start': 1092.022, 'duration': 7.368}], 'summary': "China's focused approach poses existential threat to capitalism.", 'duration': 30.705, 'max_score': 1068.685, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM1068685.jpg'}, {'end': 1178.691, 'src': 'embed', 'start': 1154.206, 'weight': 13, 'content': [{'end': 1171.269, 'text': 'it seems like the way out is going to be making the entrepreneur the hero of society of like letting that young kid with a big dream and the guts to take the big risks and build something totally new,', 'start': 1154.206, 'duration': 17.063}, {'end': 1173.529, 'text': 'giving them a chance and whatever that involves.', 'start': 1171.269, 'duration': 2.26}, {'end': 1175.47, 'text': "I don't think it's about taxes.", 'start': 1174.229, 'duration': 1.241}, {'end': 1178.691, 'text': "I don't think it's about like, regulation, all that stuff.", 'start': 1175.53, 'duration': 3.161}], 'summary': 'Empower entrepreneurs to drive innovation, not hindered by taxes or regulations.', 'duration': 24.485, 'max_score': 1154.206, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM1154206.jpg'}, {'end': 1380.256, 'src': 'embed', 'start': 1350.205, 'weight': 14, 'content': [{'end': 1354.866, 'text': 'Still the best country in the world, right? I mean, it still is amazing the opportunity provided to people.', 'start': 1350.205, 'duration': 4.661}, {'end': 1357.126, 'text': 'All this educational experience is online.', 'start': 1355.426, 'duration': 1.7}, {'end': 1365.147, 'text': 'And the ability. what I tell young people who are looking for advice I say you know the skill you need to refine is the ability to learn new skills.', 'start': 1357.486, 'duration': 7.661}, {'end': 1372.13, 'text': 'Like, if you become good at learning a new skill, And Tim Ferriss, a friend of mine, has really pioneered this.', 'start': 1365.987, 'duration': 6.143}, {'end': 1380.256, 'text': 'He can get to 60% or 70% of the knowledge in a skill in some incredibly short period of time.', 'start': 1372.811, 'duration': 7.445}], 'summary': 'Emphasizing the importance of learning new skills, with tim ferriss achieving 60-70% knowledge in a short time.', 'duration': 30.051, 'max_score': 1350.205, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM1350205.jpg'}], 'start': 223.374, 'title': 'Millennial investing and market influence', 'summary': 'Delves into investing in millennials, discussing a startup targeting millennial stock trading, the influence of robinhood on financial markets, and the significance of practical learning and capitalism in achieving success.', 'chapters': [{'end': 394.525, 'start': 223.374, 'title': 'Investing in millennials', 'summary': 'Discusses a conversation with an entrepreneur about a startup aimed at getting millennials to trade stocks, despite their financial challenges and lack of interest in saving, with a bold and ambitious business model of offering free trading, emphasizing the importance of considering potential success rather than dwelling on potential failure.', 'duration': 171.151, 'highlights': ["Elon Musk's encounter with an entrepreneur pitching a startup aimed at getting millennials to trade stocks, offering a bold and ambitious business model of free trading despite their financial challenges and lack of interest in saving. Entrepreneur's pitch, targeting millennials, offering free trading, despite financial challenges and lack of interest in saving.", "The importance of considering potential success rather than dwelling on potential failure in angel investing, technology, and life, illustrated by the approach of envisioning the positive impact if an idea succeeds, as exemplified by Elon Musk's investment in Tesla and the evaluation of the Robinhood app. Emphasizing the significance of envisioning the positive impact of an idea's success, illustrated by Elon Musk's approach in investing in Tesla and evaluating the Robinhood app.", 'The concept of embracing bold and ambitious ideas with potential for great returns, as demonstrated by the acceptance of the unconventional idea of Uber by a small percentage of investors, highlighting the significance of embracing ambitious and unconventional ideas despite skepticism. Embracing bold and ambitious ideas with potential for great returns, exemplified by the acceptance of the unconventional idea of Uber by a small percentage of investors.']}, {'end': 692.997, 'start': 394.525, 'title': 'The influence of robinhood on financial markets', 'summary': 'Discusses the impact of robinhood on financial markets, highlighting the emergence of sophisticated retail traders, lack of transparency in shorting stocks, and the influence of startups like airbnb on traditional industries.', 'duration': 298.472, 'highlights': ['Sophisticated retail traders on platforms like Robinhood are challenging traditional financial systems with their ability to conduct in-depth analysis and act collectively, posing a significant threat to institutional investors. Generation knowledgeable in finance | Competing with hedge fund industry | Collective action against sophisticated insiders | Dominating the market.', 'The lack of transparency in shorting stocks is evident, with more shares being shorted than available, and the absence of accessible information on the list of people who have shorted the stock, leading to conflicts and conspiracy theories among investors. Unavailability of shorting stock list | Conflicts and conspiracy theories | Lack of transparency in financial systems.', 'Startups like Airbnb have transformed traditional industries by inducing new markets to exist, as seen in the rise of peer-to-peer accommodation and transportation services, challenging established players and inspiring new consumer behaviors. Startups induce new markets | Transformation of traditional industries | Challenge to established players | Inspiring new consumer behaviors.']}, {'end': 967.54, 'start': 693.418, 'title': 'Learning through practice and risk in trading', 'summary': 'Emphasizes the importance of practical learning in trading, highlights the risks involved, and discusses the impact of recent market events on financial literacy and morality.', 'duration': 274.122, 'highlights': ["Practical learning is essential in trading, similar to activities like poker or skiing, as it's difficult to grasp the concepts without hands-on experience. Emphasizes the importance of practical learning in trading.", 'Reiterates the necessity of experiencing losses in poker and trading, suggesting starting with small stakes to mitigate potential financial setbacks. Emphasizes the importance of experiencing losses and starting with small stakes in trading.', 'Discusses the risky nature of certain trading activities, such as the GameStop situation, and the potential consequences for inexperienced traders. Highlights the risky nature of trading activities like the GameStop situation and its impact on inexperienced traders.', 'Emphasizes the importance of financial literacy and understanding the concept of the risk of ruin, particularly for young individuals entering the trading world. Stresses the significance of financial literacy and understanding the risk of ruin, especially for young individuals in trading.', 'Discusses concerns about individuals losing control in trading and analogous activities, highlighting the need for responsible behavior. Addresses concerns about individuals losing control in trading and similar activities, emphasizing the need for responsible behavior.']}, {'end': 1605.836, 'start': 967.56, 'title': 'Capitalism, entrepreneurship, and the path to success', 'summary': "Discusses the positive impact of capitalism, the importance of entrepreneurship, the potential threats posed by china's version of capitalism, and the significance of learning new skills for success, emphasizing the need for belief in individual potential and the opportunities provided by capitalism in the us.", 'duration': 638.276, 'highlights': ['The Positive Impact of Capitalism Capitalism is seen as a force for good, benefiting society through global distribution of innovative products and services, such as those offered by Tesla, SpaceX, Google, Airbnb, Uber, and Robinhood, fostering competition and driving progress.', "Threat of China's Version of Capitalism The discussion highlights China's co-opting of capitalism and the potential existential threat it poses, emphasizing the need to safeguard the vibrancy of capitalism to prevent adverse consequences for humanity.", 'Importance of Entrepreneurship Entrepreneurship is emphasized as a vital element for societal progress, with the entrepreneurial spirit viewed as a key driver of positive change, and the need to shift public discourse to position entrepreneurs as societal heroes.', 'Belief in Individual Potential and Opportunities The chapter stresses the importance of believing in individual potential and the opportunities provided by capitalism in the US, highlighting the availability of free educational resources and the need for individuals to develop the skill of learning new skills for success.']}], 'duration': 1382.462, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM223374.jpg', 'highlights': ["Entrepreneur's pitch, targeting millennials, offering free trading, despite financial challenges and lack of interest in saving.", "Emphasizing the significance of envisioning the positive impact of an idea's success, illustrated by Elon Musk's approach in investing in Tesla and evaluating the Robinhood app.", 'Embracing bold and ambitious ideas with potential for great returns, exemplified by the acceptance of the unconventional idea of Uber by a small percentage of investors.', 'Generation knowledgeable in finance | Competing with hedge fund industry | Collective action against sophisticated insiders | Dominating the market.', 'Unavailability of shorting stock list | Conflicts and conspiracy theories | Lack of transparency in financial systems.', 'Startups induce new markets | Transformation of traditional industries | Challenge to established players | Inspiring new consumer behaviors.', 'Emphasizes the importance of practical learning in trading.', 'Emphasizes the importance of experiencing losses and starting with small stakes in trading.', 'Highlights the risky nature of trading activities like the GameStop situation and its impact on inexperienced traders.', 'Stresses the significance of financial literacy and understanding the risk of ruin, especially for young individuals in trading.', 'Addresses concerns about individuals losing control in trading and similar activities, emphasizing the need for responsible behavior.', 'Capitalism is seen as a force for good, benefiting society through global distribution of innovative products and services, fostering competition and driving progress.', "The discussion highlights China's co-opting of capitalism and the potential existential threat it poses, emphasizing the need to safeguard the vibrancy of capitalism to prevent adverse consequences for humanity.", 'Entrepreneurship is emphasized as a vital element for societal progress, with the entrepreneurial spirit viewed as a key driver of positive change, and the need to shift public discourse to position entrepreneurs as societal heroes.', 'The chapter stresses the importance of believing in individual potential and the opportunities provided by capitalism in the US, highlighting the availability of free educational resources and the need for individuals to develop the skill of learning new skills for success.']}, {'end': 2552.633, 'segs': [{'end': 1628.984, 'src': 'embed', 'start': 1606.376, 'weight': 1, 'content': [{'end': 1614.519, 'text': "It's like, just think about how much value is being provided to society because of capitalism and because competition.", 'start': 1606.376, 'duration': 8.143}, {'end': 1619.701, 'text': 'If you want things to get better, and you wanna step up your game, just make it slightly competitive.', 'start': 1614.539, 'duration': 5.162}, {'end': 1625.022, 'text': 'It is one of these things in human existence that is so powerful.', 'start': 1619.721, 'duration': 5.301}, {'end': 1628.984, 'text': "I don't know, did you see the Michael Jordan documentary, The Last Dance? Like half of it, yeah.", 'start': 1625.042, 'duration': 3.942}], 'summary': 'Capitalism and competition provide immense value to society. embrace a slightly competitive mindset to improve and excel.', 'duration': 22.608, 'max_score': 1606.376, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM1606376.jpg'}, {'end': 1727.186, 'src': 'embed', 'start': 1697.682, 'weight': 0, 'content': [{'end': 1700.524, 'text': 'just so many bad things occurred the economy, people losing their jobs.', 'start': 1697.682, 'duration': 2.842}, {'end': 1711.335, 'text': 'But we also got to see the human spirit with these mRNA vaccines and just how, if we took out some of the regulation and people were super motivated,', 'start': 1701.124, 'duration': 10.211}, {'end': 1718.182, 'text': 'we might actually be able to eliminate all pandemics from ever happening again.', 'start': 1711.335, 'duration': 6.847}, {'end': 1723.665, 'text': 'And before that, Bill Gates was banging his fist, and Jeff Skoll was doing the movie Contagion.', 'start': 1718.542, 'duration': 5.123}, {'end': 1727.186, 'text': 'I mean, for two decades, people have been banging their fist, we have to be prepared for this.', 'start': 1723.745, 'duration': 3.441}], 'summary': 'Economic downturn, mrna vaccines show potential to prevent pandemics, calls for readiness.', 'duration': 29.504, 'max_score': 1697.682, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM1697682.jpg'}, {'end': 1775.197, 'src': 'embed', 'start': 1744.335, 'weight': 2, 'content': [{'end': 1746.757, 'text': "We've just never gotten aggressive about doing it.", 'start': 1744.335, 'duration': 2.422}, {'end': 1748.418, 'text': 'And then you think about challenge trials.', 'start': 1746.857, 'duration': 1.561}, {'end': 1753.603, 'text': "I don't know if you've been following this, but they're doing challenge trials now in the UK this month,", 'start': 1748.438, 'duration': 5.165}, {'end': 1758.667, 'text': "where they're introducing COVID into healthy young patients and then giving them the vaccine.", 'start': 1753.603, 'duration': 5.064}, {'end': 1765.512, 'text': 'And that is against all rules and regulations about do no harm.', 'start': 1759.928, 'duration': 5.584}, {'end': 1768.093, 'text': 'But then you think about it.', 'start': 1767.213, 'duration': 0.88}, {'end': 1775.197, 'text': "We kind of celebrate people jumping out of planes and we got that one guy, Alex Honnold, who's climbing up mountains without a rope,", 'start': 1768.954, 'duration': 6.243}], 'summary': 'Uk conducting covid challenge trials, controversial approach against regulations.', 'duration': 30.862, 'max_score': 1744.335, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM1744335.jpg'}, {'end': 1821.196, 'src': 'embed', 'start': 1791.644, 'weight': 5, 'content': [{'end': 1793.645, 'text': 'And people do dangerous stuff all day long.', 'start': 1791.644, 'duration': 2.001}, {'end': 1804.222, 'text': "Astronauts but we won't, soldiers, firefighters, but we won't let people get paid to do a challenge trial.", 'start': 1795.206, 'duration': 9.016}, {'end': 1807.845, 'text': "Yeah, we're weirdly risk averse in certain areas that completely don't make any sense.", 'start': 1804.382, 'duration': 3.463}, {'end': 1810.167, 'text': 'And this is where the world needs to be.', 'start': 1807.985, 'duration': 2.182}, {'end': 1817.313, 'text': "We could have said these thousand people, young people, who we know are in all likelihood not going to have a bad outcome, but there's a possibility.", 'start': 1810.247, 'duration': 7.066}, {'end': 1818.134, 'text': "There's a possibility.", 'start': 1817.373, 'duration': 0.761}, {'end': 1821.196, 'text': "But it's very low, and it's certainly lower than riding a motorcycle.", 'start': 1818.214, 'duration': 2.982}], 'summary': 'Reluctance to allow paid challenge trials despite low risk compared to other dangerous activities like riding a motorcycle.', 'duration': 29.552, 'max_score': 1791.644, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM1791644.jpg'}, {'end': 1852.699, 'src': 'embed', 'start': 1826.159, 'weight': 3, 'content': [{'end': 1829.98, 'text': "We could have just said to those thousand people, we'll give you a million dollars each to do this.", 'start': 1826.159, 'duration': 3.821}, {'end': 1832.321, 'text': "Okay, there's your billion dollars.", 'start': 1830.86, 'duration': 1.461}, {'end': 1835.542, 'text': "We're printing trillions of dollars of money to deal with this.", 'start': 1833.481, 'duration': 2.061}, {'end': 1844.866, 'text': 'If we had just done a thousand people for a million dollars each to do a challenge trial in March, April, May, when they had the mRNA vaccines ready,', 'start': 1835.682, 'duration': 9.184}, {'end': 1847.437, 'text': 'We could have deployed the vaccines in the summer.', 'start': 1845.816, 'duration': 1.621}, {'end': 1848.537, 'text': 'We would have been done with this.', 'start': 1847.477, 'duration': 1.06}, {'end': 1850.178, 'text': 'It would have been over by now.', 'start': 1848.557, 'duration': 1.621}, {'end': 1852.699, 'text': 'So we get to challenge all of that thinking.', 'start': 1850.638, 'duration': 2.061}], 'summary': 'Offering a million dollars to a thousand people for challenge trials in march, april, may could have accelerated vaccine deployment and ended the pandemic sooner.', 'duration': 26.54, 'max_score': 1826.159, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM1826159.jpg'}, {'end': 1987.519, 'src': 'embed', 'start': 1956.991, 'weight': 4, 'content': [{'end': 1962.853, 'text': "So there, there's a little bit of a failure of capitalism to step up.", 'start': 1956.991, 'duration': 5.862}, {'end': 1972.218, 'text': "And I don't know if you agree with this, but it seems that the blame is to be placed at the regulators and the various institutions.", 'start': 1963.494, 'duration': 8.724}, {'end': 1975.44, 'text': 'Crony capitalism in all likelihood is what stopped it here in America.', 'start': 1972.338, 'duration': 3.102}, {'end': 1979.482, 'text': 'I mean, I had friends who had imported them from other countries.', 'start': 1975.94, 'duration': 3.542}, {'end': 1987.519, 'text': "the testing kits and you've probably been to parties where people had these kind of testing kits from other countries and we're sitting here and they're just approving them now?", 'start': 1980.492, 'duration': 7.027}], 'summary': 'Failure of capitalism to provide testing kits, blames regulators and institutions, leading to delayed approvals.', 'duration': 30.528, 'max_score': 1956.991, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM1956991.jpg'}, {'end': 2176.031, 'src': 'embed', 'start': 2146.892, 'weight': 6, 'content': [{'end': 2152.234, 'text': "Everybody then logs in at the same time to Robinhood and tries to sell every share they own because they're afraid that the whole thing's going to collapse right?", 'start': 2146.892, 'duration': 5.342}, {'end': 2157.655, 'text': "So I think there was this kind of like black swan event and they probably didn't communicate it all that well.", 'start': 2152.254, 'duration': 5.401}, {'end': 2162.616, 'text': 'at the center of that, this is really interesting, maybe you can comment on the nature of communication.', 'start': 2158.231, 'duration': 4.385}, {'end': 2170.344, 'text': 'Vlad, the CEO, the guy you met at the bar, was, I think, at the center of the communication, right?', 'start': 2163.797, 'duration': 6.547}, {'end': 2176.031, 'text': 'So Elon is an example of a guy who also is at the center of the communication for his particular set of companies.', 'start': 2170.705, 'duration': 5.326}], 'summary': 'Robinhood users panicked and mass sold shares due to poor communication during a black swan event. ceo vlad was central to the communication.', 'duration': 29.139, 'max_score': 2146.892, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM2146892.jpg'}, {'end': 2405.058, 'src': 'embed', 'start': 2381.99, 'weight': 7, 'content': [{'end': 2393.981, 'text': 'technology and business over the last couple decades was just how big the market was and then how quickly you could achieve relevancy in these markets.', 'start': 2381.99, 'duration': 11.991}, {'end': 2398.553, 'text': 'We thought the market was like the 60 million homes with broadband.', 'start': 2395.43, 'duration': 3.123}, {'end': 2400.174, 'text': 'And originally it was like maybe 10 or 20.', 'start': 2398.933, 'duration': 1.241}, {'end': 2401.635, 'text': 'Then it became 60 million.', 'start': 2400.174, 'duration': 1.461}, {'end': 2405.058, 'text': 'Then it was like okay, well, how many hours are you at your desktop computer?', 'start': 2401.996, 'duration': 3.062}], 'summary': 'Market size grew from 10-20 million to 60 million homes with broadband, emphasizing rapid relevancy in technology and business.', 'duration': 23.068, 'max_score': 2381.99, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM2381990.jpg'}, {'end': 2534.778, 'src': 'embed', 'start': 2506.234, 'weight': 8, 'content': [{'end': 2508.436, 'text': 'This thing happens.', 'start': 2506.234, 'duration': 2.202}, {'end': 2510.758, 'text': 'People had the idea to short the stock six months ago.', 'start': 2508.476, 'duration': 2.282}, {'end': 2512.559, 'text': 'They start doing their research.', 'start': 2511.418, 'duration': 1.141}, {'end': 2513.3, 'text': 'They build an army.', 'start': 2512.579, 'duration': 0.721}, {'end': 2514.661, 'text': 'They execute the trade.', 'start': 2513.36, 'duration': 1.301}, {'end': 2516.302, 'text': 'The system goes down.', 'start': 2515.362, 'duration': 0.94}, {'end': 2519.745, 'text': 'Robinhood raises $3.5 billion in four days.', 'start': 2517.183, 'duration': 2.562}, {'end': 2527.211, 'text': "Elon is interviewing them on Clubhouse on Sunday after the Wednesday it happened, and now here we are, it's 10 days later.", 'start': 2520.686, 'duration': 6.525}, {'end': 2531.475, 'text': "doesn't it feel like it's been 10 months?", 'start': 2528.032, 'duration': 3.443}, {'end': 2534.017, 'text': "yeah, it's been 10 days, lex, it's been 10 days.", 'start': 2531.475, 'duration': 2.542}, {'end': 2534.778, 'text': '10 days.', 'start': 2534.017, 'duration': 0.761}], 'summary': 'Robinhood raises $3.5 billion in 4 days, elon interviews on clubhouse 10 days later.', 'duration': 28.544, 'max_score': 2506.234, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM2506234.jpg'}], 'start': 1606.376, 'title': 'The power of competition in capitalism and its impact on innovation and pandemic response', 'summary': "Discusses the influence of competition in capitalism through examples like michael jordan and elon musk, and highlights the potential of motivated efforts in addressing pandemics, such as the development of mrna vaccines. it also explores the reluctance to embrace risk in certain areas, the potential of challenge trials in accelerating vaccine deployment, and the failure of capitalism in addressing the pandemic. additionally, it delves into the chaotic events at robinhood, including a liquidity crisis, ceo's communication, and the unprecedented speed of technology and business, leading to a mass scale power battle, financial turmoil, and swift industry changes.", 'chapters': [{'end': 1768.093, 'start': 1606.376, 'title': 'The power of competition in capitalism', 'summary': "Discusses the power of competition in capitalism, exemplified by the influence of michael jordan's competitiveness and the impact of elon musk's competition in driving innovation, as well as the potential of motivated efforts in addressing pandemics, highlighted by the development of mrna vaccines.", 'duration': 161.717, 'highlights': ["The influence of Michael Jordan's competitiveness and the impact of Elon Musk's competition in driving innovation The transcript highlights the impact of Michael Jordan's competitiveness and the influence of Elon Musk's competition in driving innovation, exemplified by the transformation of the electric car industry and the inspiration to step up the game in the face of competition.", 'The potential of motivated efforts in addressing pandemics, highlighted by the development of mRNA vaccines The discussion emphasizes the potential of motivated efforts in addressing pandemics, particularly showcased by the development of mRNA vaccines and the possibility of eliminating future pandemics by leveraging motivations and reducing regulations.', 'The introduction of challenge trials to address the COVID-19 pandemic The transcript mentions the introduction of challenge trials in the UK, where COVID-19 is introduced into healthy young patients to test the efficacy of vaccines, highlighting the unconventional approach in combating the pandemic.']}, {'end': 2035.065, 'start': 1768.954, 'title': 'Rethinking risk and capitalism', 'summary': 'Discusses the reluctance to embrace risk in certain areas, the potential of challenge trials in accelerating vaccine deployment, and the failure of capitalism in addressing the pandemic, and highlights the missed opportunities in testing and tracing.', 'duration': 266.111, 'highlights': ['The chapter discusses the potential of challenge trials in accelerating vaccine deployment, suggesting offering a million dollars each to a thousand people, which could have led to the deployment of mRNA vaccines in the summer, potentially ending the pandemic earlier. Potential of challenge trials in accelerating vaccine deployment, offering a million dollars to a thousand people, deployment of mRNA vaccines in the summer, potentially ending the pandemic earlier', 'It points out the failure of capitalism in addressing the pandemic, particularly in mass manufacturing and distributing antigen tests, attributing the blame to regulators and institutions, and highlighting the missed opportunities in testing and tracing. Failure of capitalism in mass manufacturing and distributing antigen tests, blame on regulators and institutions, missed opportunities in testing and tracing', 'The chapter questions the reluctance to embrace risk in certain areas, comparing it to the celebration of dangerous activities such as mountain climbing and deep welding, and suggests the need for a reasonable discussion about the potential of challenge trials in acute situations like a global pandemic. Reluctance to embrace risk in certain areas, comparison to celebration of dangerous activities, need for a reasonable discussion about challenge trials in acute situations']}, {'end': 2552.633, 'start': 2035.105, 'title': "Robinhood's chaotic communication", 'summary': "Discusses the chaotic events at robinhood, including a liquidity crisis, ceo's communication, and the unprecedented speed of technology and business, leading to a mass scale power battle, financial turmoil, and swift industry changes.", 'duration': 517.528, 'highlights': ["Robinhood faced a liquidity crisis and struggled with communication during a chaotic period, leading to a mass scale power battle in finance. Robinhood experienced a liquidity crisis due to an overwhelming number of users trying to buy meme stocks, resulting in demands for billions of dollars in collateral. The CEO's communication was criticized, highlighting the challenges faced by companies at scale.", 'The speed of technology and business has led to unprecedented industry changes, with companies achieving relevancy and scale in a matter of years. The discussion emphasized the rapid evolution of technology and business, enabling companies like Clubhouse to become the number one app in various countries within a short period, underlining the significant market size and the viral spread facilitated by social networks.', "The mass scale power battle involving Robinhood and the unprecedented speed of events, including a $3.5 billion fundraising in four days, demonstrated the novel and surreal nature of the situation. The events at Robinhood, from the idea to short the stock to Elon's Clubhouse interview with the CEO, showcased the rapid and surreal developments, including a $3.5 billion fundraising in just four days, reflecting the defining of a new era in finance and technology."]}], 'duration': 946.257, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM1606376.jpg', 'highlights': ['The potential of motivated efforts in addressing pandemics, particularly showcased by the development of mRNA vaccines and the possibility of eliminating future pandemics by leveraging motivations and reducing regulations.', "The influence of Michael Jordan's competitiveness and the impact of Elon Musk's competition in driving innovation, exemplified by the transformation of the electric car industry and the inspiration to step up the game in the face of competition.", 'The introduction of challenge trials in the UK, where COVID-19 is introduced into healthy young patients to test the efficacy of vaccines, highlighting the unconventional approach in combating the pandemic.', 'The chapter discusses the potential of challenge trials in accelerating vaccine deployment, suggesting offering a million dollars each to a thousand people, which could have led to the deployment of mRNA vaccines in the summer, potentially ending the pandemic earlier.', 'The failure of capitalism in mass manufacturing and distributing antigen tests, blame on regulators and institutions, missed opportunities in testing and tracing.', 'The chapter questions the reluctance to embrace risk in certain areas, comparing it to the celebration of dangerous activities such as mountain climbing and deep welding, and suggests the need for a reasonable discussion about the potential of challenge trials in acute situations like a global pandemic.', 'Robinhood faced a liquidity crisis and struggled with communication during a chaotic period, leading to a mass scale power battle in finance.', 'The speed of technology and business has led to unprecedented industry changes, with companies achieving relevancy and scale in a matter of years.', 'The mass scale power battle involving Robinhood and the unprecedented speed of events, including a $3.5 billion fundraising in four days, demonstrated the novel and surreal nature of the situation.']}, {'end': 3068.672, 'segs': [{'end': 2580.769, 'src': 'embed', 'start': 2553.333, 'weight': 2, 'content': [{'end': 2556.174, 'text': 'And the other more dramatic thing to me is- That was one month ago.', 'start': 2553.333, 'duration': 2.841}, {'end': 2567.138, 'text': "That was one month and the President of the United States got banned from every major social network, which I think I'm still deeply troubled by.", 'start': 2556.194, 'duration': 10.944}, {'end': 2569.458, 'text': 'is Parler being removed from AWS?', 'start': 2567.138, 'duration': 2.32}, {'end': 2573.481, 'text': 'That changed the way That changed a lot of things.', 'start': 2569.798, 'duration': 3.683}, {'end': 2578.086, 'text': "As somebody who's an aspiring entrepreneur, that changed the way I see the world.", 'start': 2573.561, 'duration': 4.525}, {'end': 2580.769, 'text': "Maybe I'm being overdramatic.", 'start': 2578.106, 'duration': 2.663}], 'summary': 'One month ago, the president of the united states got banned from every major social network, deeply troubling and changing perspectives.', 'duration': 27.436, 'max_score': 2553.333, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM2553333.jpg'}, {'end': 2673.956, 'src': 'embed', 'start': 2639.853, 'weight': 0, 'content': [{'end': 2640.914, 'text': 'The web is an open standard.', 'start': 2639.853, 'duration': 1.061}, {'end': 2641.914, 'text': 'FTP was an open standard.', 'start': 2640.994, 'duration': 0.92}, {'end': 2646.298, 'text': 'But Twitter and Facebook are closed.', 'start': 2641.934, 'duration': 4.364}, {'end': 2655.124, 'text': "And what's gonna happen is we will see a group of individuals create peer-to-peer networks for social media where nobody can control it.", 'start': 2647.298, 'duration': 7.826}, {'end': 2665.371, 'text': "And the same for cloud computing, where there's a crypto project where everybody will, and I invested in a company that tried to do this and got sold,", 'start': 2655.244, 'duration': 10.127}, {'end': 2666.271, 'text': "and it didn't work out.", 'start': 2665.371, 'duration': 0.9}, {'end': 2673.956, 'text': 'take your hard drive on your computer at home, you give a terabyte of your 10 terabyte drive over to the cloud.', 'start': 2667.592, 'duration': 6.364}], 'summary': 'Web and ftp are open standards. twitter and facebook are closed. predicts peer-to-peer social media networks and decentralized cloud computing.', 'duration': 34.103, 'max_score': 2639.853, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM2639853.jpg'}, {'end': 2792.917, 'src': 'embed', 'start': 2762.631, 'weight': 3, 'content': [{'end': 2764.292, 'text': 'right now people would be shorting the stock right.', 'start': 2762.631, 'duration': 1.661}, {'end': 2767.233, 'text': 'facebook peaked and then was sort of heading down.', 'start': 2764.292, 'duration': 2.941}, {'end': 2769.234, 'text': 'um, and instagram saved them and whatsapp saved them.', 'start': 2767.233, 'duration': 2.001}, {'end': 2775.858, 'text': "so you know that's another kind of weird moment in history that they were able to accumulate that much power and consolidate that much power.", 'start': 2769.234, 'duration': 6.624}, {'end': 2777.279, 'text': 'instagram should have never sold to them.', 'start': 2775.858, 'duration': 1.421}, {'end': 2778.039, 'text': 'that should have gone public.', 'start': 2777.279, 'duration': 0.76}, {'end': 2784.666, 'text': "they had just raised money from sequoia And they had raised $50 million at a $500 million valuation and they didn't need to sell.", 'start': 2778.039, 'duration': 6.627}, {'end': 2786.468, 'text': 'And that was a big mistake to sell.', 'start': 2784.846, 'duration': 1.622}, {'end': 2789.572, 'text': 'They should have kept going and they should have took on Facebook.', 'start': 2787.129, 'duration': 2.443}, {'end': 2792.917, 'text': "And if Instagram was a standalone company right now, it'd be worth 500 million.", 'start': 2789.592, 'duration': 3.325}], 'summary': 'Facebook peaked and was saved by instagram and whatsapp. instagram should have remained independent and could be worth $500 million now.', 'duration': 30.286, 'max_score': 2762.631, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM2762631.jpg'}, {'end': 2838.166, 'src': 'embed', 'start': 2811.596, 'weight': 4, 'content': [{'end': 2818.623, 'text': 'Part of the reason why the WhatsApp founders and the Instagram founders left is they found Zuckerberg so distasteful in terms of his ability to copy.', 'start': 2811.596, 'duration': 7.027}, {'end': 2824.416, 'text': 'What do you think makes a great leader in that sense? Because, okay, so when I look at Zuckerberg.', 'start': 2819.212, 'duration': 5.204}, {'end': 2826.297, 'text': "He's a great executor.", 'start': 2824.436, 'duration': 1.861}, {'end': 2828.999, 'text': "Is he a great executor? I don't think he's a great leader.", 'start': 2826.978, 'duration': 2.021}, {'end': 2832.622, 'text': 'I was bullish on, I was excited by Facebook in the very early days.', 'start': 2829.119, 'duration': 3.503}, {'end': 2838.166, 'text': 'I thought it was an exciting opportunity to connect people and stuff started going wrong in certain kinds of ways.', 'start': 2832.642, 'duration': 5.524}], 'summary': "Whatsapp and instagram founders left due to zuckerberg's copying. zuckerberg is seen as a great executor but not a great leader.", 'duration': 26.57, 'max_score': 2811.596, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM2811596.jpg'}, {'end': 2934.373, 'src': 'embed', 'start': 2908.101, 'weight': 5, 'content': [{'end': 2913.783, 'text': 'And taking friction out of products and processes is the playbook of Silicon Valley for the last decade or two.', 'start': 2908.101, 'duration': 5.682}, {'end': 2916.505, 'text': "So whatever the friction is- That's poetry what you're saying right now.", 'start': 2914.384, 'duration': 2.121}, {'end': 2920.206, 'text': "So you're speaking so fast that I almost forget that you're dropping bombs.", 'start': 2916.585, 'duration': 3.621}, {'end': 2922.487, 'text': 'But so removing the- Friction.', 'start': 2920.566, 'duration': 1.921}, {'end': 2923.688, 'text': 'Removing friction.', 'start': 2922.647, 'duration': 1.041}, {'end': 2925.829, 'text': "And you're saying Facebook is exceptionally good at removing friction.", 'start': 2923.748, 'duration': 2.081}, {'end': 2926.449, 'text': 'He was the best at it.', 'start': 2925.849, 'duration': 0.6}, {'end': 2930.571, 'text': "I mean, at Uber, they were like, we're going to take out tipping.", 'start': 2926.949, 'duration': 3.622}, {'end': 2934.373, 'text': "We're going to take out the need for you to take out your credit card and do payment.", 'start': 2930.731, 'duration': 3.642}], 'summary': 'Silicon valley focuses on removing friction from products and processes, with examples from facebook and uber.', 'duration': 26.272, 'max_score': 2908.101, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM2908101.jpg'}], 'start': 2553.333, 'title': 'Impact of social media ban on tech industry and future of social media', 'summary': 'Discusses the one-month ban of the us president from major social networks, implications on free speech, potential shift towards decentralized and distributed computing platforms, potential emergence of new decentralized social media platforms, impact of leadership on company success, and focus on frictionless user experiences in silicon valley.', 'chapters': [{'end': 2683.662, 'start': 2553.333, 'title': 'Impact of social media ban on tech industry', 'summary': 'Discusses the one-month ban of the us president from major social networks, the implications on free speech, and the potential shift towards decentralized and distributed computing platforms.', 'duration': 130.329, 'highlights': ['The one-month ban of the US President from major social networks and the removal of Parler from AWS has raised concerns about the power of big tech companies and their influence on free speech.', 'The potential shift towards decentralized and distributed computing platforms, such as peer-to-peer networks for social media and virtual cloud storage, could challenge the control of centralized platforms like Twitter and Facebook.', 'The fear of social networks and cloud providers being beholden to public pressure highlights the need for open standards and decentralized computing to ensure freedom of expression and data security.', 'The discussion on the implications of Parler being removed from AWS and the ban of the US President from social networks reflects the growing concerns about the influence and power of tech companies on speech and infrastructure.']}, {'end': 3068.672, 'start': 2683.702, 'title': 'Future of social media', 'summary': "Discusses the potential emergence of new decentralized social media platforms, the impact of leadership on company success, and the focus on frictionless user experiences in silicon valley, with a focus on facebook's strategies and unintended consequences.", 'duration': 384.97, 'highlights': ["Facebook's success and consolidation of power through acquisitions like Instagram and WhatsApp and the potential emergence of new decentralized social media platforms.", "The impact of leadership on company success, with the discussion of Mark Zuckerberg's leadership style and its effects on Facebook and its acquisitions like Instagram.", "The focus on frictionless user experiences in Silicon Valley, with a specific emphasis on Facebook's strategies and unintended consequences, such as the issue of adding people to groups without their permission."]}], 'duration': 515.339, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM2553333.jpg', 'highlights': ['The potential shift towards decentralized and distributed computing platforms challenges the control of centralized platforms like Twitter and Facebook.', 'The fear of social networks and cloud providers being beholden to public pressure highlights the need for open standards and decentralized computing.', 'The discussion on the implications of Parler being removed from AWS reflects the growing concerns about the influence and power of tech companies on speech and infrastructure.', "Facebook's success and consolidation of power through acquisitions like Instagram and WhatsApp and the potential emergence of new decentralized social media platforms.", "The impact of leadership on company success, with the discussion of Mark Zuckerberg's leadership style and its effects on Facebook and its acquisitions like Instagram.", "The focus on frictionless user experiences in Silicon Valley, with a specific emphasis on Facebook's strategies and unintended consequences."]}, {'end': 3822.845, 'segs': [{'end': 3205.095, 'src': 'embed', 'start': 3176.932, 'weight': 1, 'content': [{'end': 3181.256, 'text': "But if you wanna change the world, you wanna do something hard driving, there's gonna be sacrifice involved.", 'start': 3176.932, 'duration': 4.324}, {'end': 3189.883, 'text': 'And so the problem is people are looking at something that is an Olympic caliber sport or a Navy SEALs like effort.', 'start': 3181.516, 'duration': 8.367}, {'end': 3193.666, 'text': 'In other words, an effort that requires massive sacrifice.', 'start': 3190.583, 'duration': 3.083}, {'end': 3198.43, 'text': 'We would not look at somebody who wins a gold medal like Michael Phelps and say oh my God,', 'start': 3193.686, 'duration': 4.744}, {'end': 3201.933, 'text': 'he had to get up at 4 a.m. every day and he had to swim and he had to do an ice bath.', 'start': 3198.43, 'duration': 3.503}, {'end': 3205.095, 'text': 'Oh my God, that poor guy, he suffered, he was tortured.', 'start': 3202.493, 'duration': 2.602}], 'summary': 'Changing the world requires olympic-level sacrifice and effort.', 'duration': 28.163, 'max_score': 3176.932, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM3176932.jpg'}, {'end': 3273.975, 'src': 'embed', 'start': 3237.136, 'weight': 2, 'content': [{'end': 3238.856, 'text': "I don't know if you remember it.", 'start': 3237.136, 'duration': 1.72}, {'end': 3241.417, 'text': 'this is the worst place you could ever work Amazon.', 'start': 3238.856, 'duration': 2.561}, {'end': 3244.638, 'text': 'And we talked to 200 people and they all told us.', 'start': 3241.477, 'duration': 3.161}, {'end': 3251.64, 'text': 'they all described for us in the New York Times a culture of cutthroatness and brutality that has never before been seen.', 'start': 3244.638, 'duration': 7.002}, {'end': 3257.982, 'text': 'And then you see all these people who worked for Bezos for 24 years from when they graduated with their MBAs until today.', 'start': 3252.02, 'duration': 5.962}, {'end': 3262.704, 'text': "And they've never left the company and they are ride or die forever.", 'start': 3258.422, 'duration': 4.282}, {'end': 3273.975, 'text': "And what you're seeing there is there's a mismatch of people going to work in an extreme sport or an extreme endeavor who should not do that.", 'start': 3263.844, 'duration': 10.131}], 'summary': "Amazon's work culture portrayed as cutthroat and brutal, causing a mismatch for some employees.", 'duration': 36.839, 'max_score': 3237.136, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM3237136.jpg'}, {'end': 3564.045, 'src': 'embed', 'start': 3531.96, 'weight': 4, 'content': [{'end': 3534.501, 'text': "And just in America, we've gotten soft and there's a generation.", 'start': 3531.96, 'duration': 2.541}, {'end': 3541.403, 'text': 'How do people die in America now? Suicide, obesity, heart attacks, anxiety.', 'start': 3535.561, 'duration': 5.842}, {'end': 3547.605, 'text': "I mean we're suffering from things that if you told people 100 years ago that the number,", 'start': 3541.463, 'duration': 6.142}, {'end': 3552.547, 'text': "the top ways Americans would die would be overeating and suicide, they'd be like what?", 'start': 3547.605, 'duration': 4.942}, {'end': 3555.617, 'text': "You're literally killing yourself or eating yourself to death?", 'start': 3553.575, 'duration': 2.042}, {'end': 3556.878, 'text': "That's what's happening in America?", 'start': 3555.677, 'duration': 1.201}, {'end': 3564.045, 'text': "And when everybody not everybody unmasks, there's a large number of people who have become softer and softer.", 'start': 3557.118, 'duration': 6.927}], 'summary': 'In america, deaths from suicide, obesity, and heart attacks signal a decline in health and resilience.', 'duration': 32.085, 'max_score': 3531.96, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM3531960.jpg'}, {'end': 3656.509, 'src': 'embed', 'start': 3610.729, 'weight': 0, 'content': [{'end': 3613.835, 'text': 'You asked earlier what leadership was, and I never answered the question.', 'start': 3610.729, 'duration': 3.106}, {'end': 3616.34, 'text': 'I think what leaders do is they set the example.', 'start': 3613.875, 'duration': 2.465}, {'end': 3616.962, 'text': 'They set the bar.', 'start': 3616.441, 'duration': 0.521}, {'end': 3624.718, 'text': "And if you look at someone like Elon, we're personal friends for 20 years, and he is indefatigable.", 'start': 3617.931, 'duration': 6.787}, {'end': 3629.183, 'text': 'I mean, the guy has a stamina that is just phenomenal.', 'start': 3624.798, 'duration': 4.385}, {'end': 3635.369, 'text': 'He does not get tired, he works relentlessly, and he sets that standard for the rest of the team.', 'start': 3629.243, 'duration': 6.126}, {'end': 3646.12, 'text': 'And I think Bezos is very sharp and likes to debate stuff, and Jobs was just incredible at design and figuring out how to bridge that gap.', 'start': 3636.29, 'duration': 9.83}, {'end': 3648.462, 'text': 'So leaders set the standard.', 'start': 3646.14, 'duration': 2.322}, {'end': 3649.783, 'text': 'They set the standard.', 'start': 3648.962, 'duration': 0.821}, {'end': 3655.729, 'text': "And you know that your time is over as a leader, when you can't set the standard, and that's when you have to pass the baton right?", 'start': 3650.324, 'duration': 5.405}, {'end': 3656.509, 'text': 'And Bezos did that.', 'start': 3655.769, 'duration': 0.74}], 'summary': 'Leaders set the standard and pass the baton when necessary. elon musk exemplifies this with his indefatigable stamina.', 'duration': 45.78, 'max_score': 3610.729, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM3610729.jpg'}, {'end': 3720.32, 'src': 'embed', 'start': 3694.651, 'weight': 6, 'content': [{'end': 3700.018, 'text': "you're going to have to sacrifice if you and this competition, and america has to fight.", 'start': 3694.651, 'duration': 5.367}, {'end': 3707.428, 'text': 'if america does not win capitalism and china does, it is literally the end of the human species.', 'start': 3700.018, 'duration': 7.41}, {'end': 3709.35, 'text': "It's over for humanity.", 'start': 3708.209, 'duration': 1.141}, {'end': 3715.696, 'text': 'Right now, everything has been going really well in terms of the number of people living in poverty is plummeting.', 'start': 3709.77, 'duration': 5.926}, {'end': 3719.119, 'text': 'Lifespans have been rising.', 'start': 3716.397, 'duration': 2.722}, {'end': 3720.32, 'text': 'Science is booming.', 'start': 3719.259, 'duration': 1.061}], 'summary': 'Sacrifice for competition, poverty plunging, lifespans rising, science booming.', 'duration': 25.669, 'max_score': 3694.651, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM3694651.jpg'}, {'end': 3759.282, 'src': 'embed', 'start': 3735.05, 'weight': 7, 'content': [{'end': 3742.515, 'text': "And I think we peaked with 53 or 54% of people on the planet Earth being in a democracy, and now it's going below 50.", 'start': 3735.05, 'duration': 7.465}, {'end': 3751.499, 'text': "And it's because some of the democratic Western countries don't have the population growth of some of the communist and socialist countries and authoritarian countries.", 'start': 3742.515, 'duration': 8.984}, {'end': 3755.461, 'text': 'And we have to make sure that we win capitalism.', 'start': 3751.659, 'duration': 3.802}, {'end': 3758.002, 'text': 'We must win economically.', 'start': 3756.081, 'duration': 1.921}, {'end': 3759.282, 'text': 'That is the battlefield.', 'start': 3758.282, 'duration': 1}], 'summary': 'Global democracy has seen a decline below 50%, due to population growth in non-democratic countries. capitalism must win economically.', 'duration': 24.232, 'max_score': 3735.05, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM3735050.jpg'}], 'start': 3068.672, 'title': 'Tech leadership challenges, pursuit of changing the world, and rise of softness', 'summary': 'Emphasizes tech leadership challenges, citing examples of vision, sacrifice, societal impact, aligning career choices with capabilities, and the rise of softness in america leading to health issues and the battle for capitalism against authoritarian regimes.', 'chapters': [{'end': 3257.982, 'start': 3068.672, 'title': 'Tech leadership challenges', 'summary': 'Emphasizes the challenges of tech leadership, highlighting the need for vision, sacrifice, and an understanding of the societal impact, citing examples such as mark zuckerberg, elon musk, and jeff bezos.', 'duration': 189.31, 'highlights': ['Great leaders in tech companies need vision to anticipate unintended consequences and must be willing to make sacrifices for ambitious goals, exemplified by figures like Elon Musk, Jeff Bezos, and the late Steve Jobs.', 'Success in driving significant change or achieving ambitious goals requires substantial sacrifice and effort, akin to Olympic caliber sports or Navy SEALs-like endeavor, contrasting the misconception of work solely for making a living.', "The need for sacrifice and dedication in pursuing ambitious goals is illustrated through the example of Michael Phelps' pursuit of becoming the greatest swimmer, highlighting the misunderstanding of the level of commitment and sacrifice required in such endeavors.", "The New York Times' portrayal of Amazon's culture as one of cutthroatness and brutality, as described by former employees, demonstrates the intense and competitive environment fostered under Jeff Bezos' leadership.", "The challenges and sacrifices involved in pursuing ambitious goals are exemplified by the intense and competitive work culture at Amazon, as depicted in The New York Times' account, reflecting the impact of strong leadership and vision."]}, {'end': 3531.78, 'start': 3258.422, 'title': 'Extreme pursuit of changing the world', 'summary': 'Discusses the need for people to align their career choices with their capabilities and ambitions, emphasizing the importance of passion and sacrifice in pursuing great things, contrasting the work-life balance concept with the extreme pursuit of changing the world, and highlighting the softness of certain generations in america compared to the struggles faced by people in other countries, particularly in china.', 'duration': 273.358, 'highlights': ['The chapter emphasizes the importance of passion and sacrifice in pursuing great things, contrasting the work-life balance concept with the extreme pursuit of changing the world. The speaker emphasizes the necessity of aligning career choices with capabilities and ambitions, advocating for passion and sacrifice in pursuing great things, and dismissing the concept of work-life balance, especially in the early stages of a startup.', 'The chapter highlights the softness of certain generations in America compared to the struggles faced by people in other countries, particularly in China. The speaker criticizes the softness of certain American generations and contrasts it with the struggles faced by people in China, emphasizing the improvement in the quality of life for the Chinese people over the years.', 'The chapter discusses the need for people to align their career choices with their capabilities and ambitions. The speaker talks about the mismatch of people going to work in extreme endeavors, emphasizing the importance of aligning career choices with capabilities and ambitions, and distinguishing between different types of workers, such as rice pickers and samurai.']}, {'end': 3822.845, 'start': 3531.96, 'title': 'The rise of softness and the battle for capitalism', 'summary': 'Discusses the rise of softness in america leading to issues like obesity, heart attacks, and anxiety, the importance of setting high standards as a leader, and the battle for capitalism against authoritarian regimes, highlighting the need for america to win economically and the concerning decline in the percentage of people living in democracies.', 'duration': 290.885, 'highlights': ['The rise of softness in America is evident in issues like obesity, heart attacks, and anxiety, leading to concerns about the top ways Americans die, reflecting a shift from historical causes of death. Rise of softness in America, issues like obesity, heart attacks, anxiety, shift from historical causes of death', 'Leadership involves setting high standards, exemplified by individuals like Elon Musk, Jeff Bezos, and Steve Jobs, who push the limits and set the bar, with the acknowledgment that passing the baton at the right time is a healthy practice. Importance of setting high standards in leadership, examples of leaders like Elon Musk, Jeff Bezos, and Steve Jobs, passing the baton as a healthy practice', 'The battle for capitalism against authoritarian regimes is emphasized as crucial for the future of humanity, with the concern that if capitalism loses, it could lead to the end of the human species. Importance of winning the battle for capitalism, potential consequences of capitalism losing to authoritarian regimes', 'The decline in the percentage of people living in democracies, compared to those under authoritarian rule, is highlighted as a concerning trend, with the need to ensure that capitalism wins economically, as it is identified as the battlefield against authoritarians. Decline in the percentage of people living in democracies, need for capitalism to win economically against authoritarians']}], 'duration': 754.173, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM3068672.jpg', 'highlights': ['Great tech leaders need vision and sacrifice, exemplified by Musk, Bezos, and Jobs.', 'Success in driving change requires substantial sacrifice and effort, akin to Olympic caliber sports.', 'The challenges and sacrifices involved in pursuing ambitious goals are exemplified by the intense and competitive work culture at Amazon.', 'The chapter emphasizes the importance of passion and sacrifice in pursuing great things.', 'The rise of softness in America is evident in issues like obesity, heart attacks, and anxiety.', 'Leadership involves setting high standards, exemplified by individuals like Elon Musk, Jeff Bezos, and Steve Jobs.', 'The battle for capitalism against authoritarian regimes is emphasized as crucial for the future of humanity.', 'The decline in the percentage of people living in democracies, compared to those under authoritarian rule, is highlighted as a concerning trend.']}, {'end': 4337.678, 'segs': [{'end': 3890.982, 'src': 'embed', 'start': 3859.646, 'weight': 5, 'content': [{'end': 3865.75, 'text': "I can tell you that they turn off their Twitter accounts and they I've had to sit down with a number of entrepreneurs and say turn off Twitter.", 'start': 3859.646, 'duration': 6.104}, {'end': 3867.571, 'text': 'This is not healthy for you.', 'start': 3866.591, 'duration': 0.98}, {'end': 3871.234, 'text': "This is not a healthy pursuit because don't read the comments.", 'start': 3868.392, 'duration': 2.842}, {'end': 3873.035, 'text': "If you do, it's like a full contact sport.", 'start': 3871.334, 'duration': 1.701}, {'end': 3876.137, 'text': 'You should just take it as like professional wrestling or something,', 'start': 3873.055, 'duration': 3.082}, {'end': 3882.841, 'text': 'but stay focused on building companies and advancing the human species through science and technology.', 'start': 3876.137, 'duration': 6.704}, {'end': 3890.982, 'text': "As you're describing, you've hosted This Week in Startups for how many episodes? 11 years, almost 1,200 now.", 'start': 3883.961, 'duration': 7.021}], 'summary': 'Entrepreneurs advised to turn off twitter for mental health. 1,200 episodes of this week in startups hosted.', 'duration': 31.336, 'max_score': 3859.646, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM3859646.jpg'}, {'end': 3935.927, 'src': 'embed', 'start': 3903.885, 'weight': 1, 'content': [{'end': 3908.066, 'text': 'Like just, find me a great entrepreneur, I will show me the trauma.', 'start': 3903.885, 'duration': 4.181}, {'end': 3910.546, 'text': "Their dad was like, you're not good enough.", 'start': 3908.426, 'duration': 2.12}, {'end': 3912.348, 'text': 'in the teenage years?', 'start': 3911.467, 'duration': 0.881}, {'end': 3914.009, 'text': 'Is that truly is there something??', 'start': 3912.368, 'duration': 1.641}, {'end': 3917.932, 'text': 'There is definitely something to- A hardship at some point in their life kind of thing?', 'start': 3914.249, 'duration': 3.683}, {'end': 3918.493, 'text': 'Yeah, I think so.', 'start': 3917.952, 'duration': 0.541}, {'end': 3924.818, 'text': "I mean, and there's definitely something with immigrant parents that is a bit of a stereotype out here,", 'start': 3918.653, 'duration': 6.165}, {'end': 3927.08, 'text': "but I've heard from many investors that that's like their.", 'start': 3924.818, 'duration': 2.262}, {'end': 3935.927, 'text': 'oh, were your parents immigrants and did they beat into you that you have to succeed and you feel the need to succeed because they suffered to get you to this country?', 'start': 3927.961, 'duration': 7.966}], 'summary': 'Entrepreneurs may have faced trauma or hardship, potentially related to immigrant parents, driving their need to succeed.', 'duration': 32.042, 'max_score': 3903.885, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM3903885.jpg'}, {'end': 4003.096, 'src': 'embed', 'start': 3976.585, 'weight': 0, 'content': [{'end': 3980.947, 'text': 'They could be just quiet assassins, but you need to be able to get people to come on the journey with you.', 'start': 3976.585, 'duration': 4.362}, {'end': 3988.409, 'text': 'You have to be that storyteller and you have to have that passion, and then you have to transfer that enthusiasm to investors, the press to customers,', 'start': 3980.967, 'duration': 7.442}, {'end': 3989.529, 'text': 'to all the stakeholders.', 'start': 3988.409, 'duration': 1.12}, {'end': 3994.951, 'text': "And if you're enthusiastic about it and you're engaged, then it's easier for people to come on that journey.", 'start': 3989.99, 'duration': 4.961}, {'end': 3999.233, 'text': "And that's why people really start to think about well, what is the purpose of what I'm doing?", 'start': 3995.351, 'duration': 3.882}, {'end': 4003.096, 'text': "And it sounds corny, and when I first heard that, I was like it's kind of corny.", 'start': 3999.953, 'duration': 3.143}], 'summary': 'Enthusiasm and storytelling are key to getting people on board with your vision and purpose.', 'duration': 26.511, 'max_score': 3976.585, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM3976585.jpg'}, {'end': 4093.916, 'src': 'embed', 'start': 4066.404, 'weight': 2, 'content': [{'end': 4069.047, 'text': "Then your CFO is going to quit and you're going to lose your biggest customer.", 'start': 4066.404, 'duration': 2.643}, {'end': 4071.028, 'text': "And you're just going to say, this is not worth it.", 'start': 4069.127, 'duration': 1.901}, {'end': 4083.853, 'text': 'And using Bezos or Elon as examples, they just needed to see the world change in very specific ways.', 'start': 4072.849, 'duration': 11.004}, {'end': 4086.494, 'text': 'And Steve Jobs, they needed to see a change.', 'start': 4084.393, 'duration': 2.101}, {'end': 4092.116, 'text': "And it doesn't matter if they made money or they were losing or winning, they just went to work every day and they had to change it.", 'start': 4086.534, 'duration': 5.582}, {'end': 4093.916, 'text': "It's almost like they didn't have a choice.", 'start': 4092.456, 'duration': 1.46}], 'summary': 'Successful leaders adapt to change, driven by a sense of necessity.', 'duration': 27.512, 'max_score': 4066.404, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM4066404.jpg'}, {'end': 4253.619, 'src': 'embed', 'start': 4227.084, 'weight': 4, 'content': [{'end': 4231.826, 'text': 'Bezos described that as day one thinking, right? Like just pretend this is day one every day.', 'start': 4227.084, 'duration': 4.742}, {'end': 4235.648, 'text': 'And then other people use the term first principles.', 'start': 4231.846, 'duration': 3.802}, {'end': 4238.389, 'text': 'but it basically means like when you see a problem,', 'start': 4235.648, 'duration': 2.741}, {'end': 4246.895, 'text': 'pause for a second and really think through what is the best possible solution here? What are some alternative solutions? And get from everybody like how do we solve this problem?', 'start': 4238.389, 'duration': 8.506}, {'end': 4247.656, 'text': 'And what people do?', 'start': 4246.915, 'duration': 0.741}, {'end': 4248.616, 'text': 'sometimes they get in a rut.', 'start': 4247.656, 'duration': 0.96}, {'end': 4251.538, 'text': 'They just come to work and they just go through their email.', 'start': 4249.037, 'duration': 2.501}, {'end': 4253.619, 'text': 'They do whatever they did the day before.', 'start': 4251.918, 'duration': 1.701}], 'summary': 'Bezos emphasizes day one thinking and first principles, encouraging problem-solving innovation and avoiding complacency.', 'duration': 26.535, 'max_score': 4227.084, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM4227084.jpg'}, {'end': 4331.876, 'src': 'embed', 'start': 4297.795, 'weight': 3, 'content': [{'end': 4300.016, 'text': "The business wasn't the shipping of those products.", 'start': 4297.795, 'duration': 2.221}, {'end': 4301.658, 'text': 'It was getting you to sign up for Amazon Prime.', 'start': 4300.097, 'duration': 1.561}, {'end': 4307.021, 'text': 'They have hundreds of millions of people doing Amazon Prime for 10 bucks a month.', 'start': 4302.998, 'duration': 4.023}, {'end': 4314.285, 'text': "I think globally it's probably cheaper, but that was the driver of that business was all of those people, because they would..", 'start': 4307.381, 'duration': 6.904}, {'end': 4316.807, 'text': "You're an Amazon Prime subscriber? Do you know how much you pay? No.", 'start': 4314.285, 'duration': 2.522}, {'end': 4319.909, 'text': 'Exactly It started at $50.', 'start': 4317.908, 'duration': 2.001}, {'end': 4323.851, 'text': 'And I think they even had like 40, 50, $60 was like the testing in the early days.', 'start': 4319.909, 'duration': 3.942}, {'end': 4325.452, 'text': "And now it's, I think $149, 12, $13 a month.", 'start': 4323.891, 'duration': 1.561}, {'end': 4331.876, 'text': 'If you pay for the year, I think it goes down to 10 bucks a month, 120.', 'start': 4325.472, 'duration': 6.404}], 'summary': 'Amazon prime has hundreds of millions of subscribers, started at $50, now $149/year or $13/month.', 'duration': 34.081, 'max_score': 4297.795, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM4297795.jpg'}], 'start': 3823.145, 'title': 'Entrepreneurship and purpose', 'summary': "Explores the competitive nature of entrepreneurship, impact of social media on entrepreneurs' mental health, importance of hardship and charisma in entrepreneurial success, and significance of purpose and mission in maintaining motivation, with a focus on immigrant entrepreneurs and examples from successful entrepreneurs like elon musk and jeff bezos.", 'chapters': [{'end': 3994.951, 'start': 3823.145, 'title': 'Entrepreneurship and success', 'summary': "Discusses the competitive nature of entrepreneurship, the impact of social media on entrepreneurs' mental health, and the importance of hardship and charisma in entrepreneurial success, with a focus on immigrant entrepreneurs.", 'duration': 171.806, 'highlights': ["Entrepreneurs' struggle with social media is impacting their mental health, with some being advised to turn off Twitter for their well-being. Entrepreneurs face mental health challenges due to social media, with some advised to turn off Twitter for their well-being.", "Immigrant entrepreneurs often have a strong drive to succeed due to the hardships their parents faced, making them more resilient and determined compared to others. Immigrant entrepreneurs' strong drive to succeed is attributed to the hardships their parents faced, making them more resilient and determined.", 'Charisma and storytelling are crucial for entrepreneurs to attract people to join their journey, transferring enthusiasm to investors, press, customers, and stakeholders. Entrepreneurs need to be charismatic and passionate to attract people to join their journey, transferring enthusiasm to investors, press, customers, and stakeholders.']}, {'end': 4337.678, 'start': 3995.351, 'title': 'The importance of purpose and drive', 'summary': "Emphasizes the significance of having a specific purpose and mission, as demonstrated by successful entrepreneurs like elon musk and jeff bezos, in maintaining motivation and driving innovation, as well as the example of amazon prime's impact on the business.", 'duration': 342.327, 'highlights': ["Elon Musk and Jeff Bezos exemplify the importance of having a specific purpose and mission to drive innovation and maintain motivation, as they relentlessly pursued their goals despite challenges. Elon Musk and Jeff Bezos's relentless pursuit of specific goals and missions, despite difficulties, demonstrates the importance of having a clear purpose in driving innovation and maintaining motivation.", "Amazon Prime's impact on the business is highlighted, emphasizing the significance of having a large subscriber base and the evolution of its pricing, starting from $50 to the current $149, showcasing the remarkable growth and success of the subscription service. The impact of Amazon Prime on the business, with a focus on the growth of its subscriber base and the evolution of its pricing from $50 to $149, underscores the success and significance of the subscription service.", "The concept of 'day one thinking' and 'first principles' is discussed, stressing the importance of continuously reassessing problems and seeking optimal solutions, while also acknowledging the need for pragmatism and goal-setting to avoid over-engineering. The discussion on 'day one thinking' and 'first principles' emphasizes the continuous reassessment of problems for optimal solutions, balanced with pragmatism and goal-setting to prevent over-engineering."]}], 'duration': 514.533, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM3823145.jpg', 'highlights': ['Entrepreneurs need to be charismatic and passionate to attract people to join their journey, transferring enthusiasm to investors, press, customers, and stakeholders.', "Immigrant entrepreneurs' strong drive to succeed is attributed to the hardships their parents faced, making them more resilient and determined.", "Elon Musk and Jeff Bezos's relentless pursuit of specific goals and missions, despite difficulties, demonstrates the importance of having a clear purpose in driving innovation and maintaining motivation.", 'The impact of Amazon Prime on the business, with a focus on the growth of its subscriber base and the evolution of its pricing from $50 to $149, underscores the success and significance of the subscription service.', "The discussion on 'day one thinking' and 'first principles' emphasizes the continuous reassessment of problems for optimal solutions, balanced with pragmatism and goal-setting to prevent over-engineering.", "Entrepreneurs' struggle with social media is impacting their mental health, with some being advised to turn off Twitter for their well-being."]}, {'end': 5475.121, 'segs': [{'end': 4371.032, 'src': 'embed', 'start': 4339.219, 'weight': 1, 'content': [{'end': 4343.3, 'text': "But you say it's the greatest thing in the world, because anything I need.", 'start': 4339.219, 'duration': 4.081}, {'end': 4347.881, 'text': 'if you forgot a microphone or a cable goes bad or a camera goes bad, you get it here within a day or less.', 'start': 4343.3, 'duration': 4.581}, {'end': 4348.982, 'text': "It's pretty amazing.", 'start': 4348.242, 'duration': 0.74}, {'end': 4351.004, 'text': "You've already been dropping bombs.", 'start': 4349.622, 'duration': 1.382}, {'end': 4354.047, 'text': 'incredible advice on startups in general.', 'start': 4351.004, 'duration': 3.043}, {'end': 4364.319, 'text': 'but let me maybe go straight in and ask is there advice for somebody that wants to go big to build the big startup, to help them succeed?', 'start': 4354.047, 'duration': 10.272}, {'end': 4371.032, 'text': "Yeah, it's very similar to the advice I give to investors, because now I teach angel investing, because there's so many people who want to invest.", 'start': 4364.71, 'duration': 6.322}], 'summary': 'Access to necessary equipment within a day or less, providing incredible support for startups and investors.', 'duration': 31.813, 'max_score': 4339.219, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM4339219.jpg'}, {'end': 4404.866, 'src': 'embed', 'start': 4371.852, 'weight': 0, 'content': [{'end': 4376.973, 'text': 'And so I wrote a book on that, Angel, and then I do a course called Angel University that I teach six times a year.', 'start': 4371.852, 'duration': 5.121}, {'end': 4381.195, 'text': 'And then I have a syndicate called thesyndicate.com where I invest in companies.', 'start': 4377.474, 'duration': 3.721}, {'end': 4382.335, 'text': "There's 6,500 people who are members of that.", 'start': 4381.215, 'duration': 1.12}, {'end': 4383.555, 'text': "It's the largest syndicate in the world.", 'start': 4382.355, 'duration': 1.2}, {'end': 4385.896, 'text': 'In fact, the first deal we ever did was com.com.', 'start': 4384.135, 'duration': 1.761}, {'end': 4392.036, 'text': 'The Meditation app, we put $378,000 into it when it was a $5 million product, a $5 million company.', 'start': 4386.792, 'duration': 5.244}, {'end': 4393.677, 'text': 'So we bought six or 7% of the company.', 'start': 4392.056, 'duration': 1.621}, {'end': 4394.638, 'text': "It's now worth 2 billion.", 'start': 4393.837, 'duration': 0.801}, {'end': 4395.899, 'text': 'So you can do the math on that.', 'start': 4395.058, 'duration': 0.841}, {'end': 4396.419, 'text': 'We still own 5%.', 'start': 4395.919, 'duration': 0.5}, {'end': 4398.681, 'text': 'What year was it? Six years ago.', 'start': 4396.419, 'duration': 2.262}, {'end': 4403.384, 'text': 'So probably seven, yeah, maybe 2015, 2014.', 'start': 4398.781, 'duration': 4.603}, {'end': 4404.866, 'text': 'And nobody else would invest in Calm.', 'start': 4403.384, 'duration': 1.482}], 'summary': 'Angel university teaches 6x a year, has 6,500 members. syndicate invested $378k in calm, now worth 2b.', 'duration': 33.014, 'max_score': 4371.852, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM4371852.jpg'}, {'end': 4453.761, 'src': 'embed', 'start': 4421.916, 'weight': 4, 'content': [{'end': 4423.717, 'text': "It's like, yeah, there's a mindful Institute.", 'start': 4421.916, 'duration': 1.801}, {'end': 4428.801, 'text': "They're like teaching people to be, to teach meditation and they're doing PTSD and I'm doing brain scans.", 'start': 4423.738, 'duration': 5.063}, {'end': 4433.564, 'text': "And I was like, oh, and then I talked to the UCLA people and they're like, it's real.", 'start': 4428.841, 'duration': 4.723}, {'end': 4441.633, 'text': "Yeah Like we, we taught Phil Jackson and Kobe Bryant and Shaquille O'Neal did You know, that's how they won their championships, they meditated.", 'start': 4433.604, 'duration': 8.029}, {'end': 4448.317, 'text': "And I was like, hmm, if UCLA is doing it and Sam says it's cool, well, fuck it, I'll put money into that.", 'start': 4442.193, 'duration': 6.124}, {'end': 4453.761, 'text': "And that's the second biggest investment in my career after Uber, and it will in all likelihood become the biggest.", 'start': 4449.018, 'duration': 4.743}], 'summary': 'Invested in mindful institute for meditation, expecting it to be the biggest investment after uber.', 'duration': 31.845, 'max_score': 4421.916, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM4421916.jpg'}, {'end': 4556.597, 'src': 'embed', 'start': 4532.482, 'weight': 5, 'content': [{'end': 4539.046, 'text': "And let's assume that you can raise money for your idea, or you have money, or you can just convince people to do it for free.", 'start': 4532.482, 'duration': 6.564}, {'end': 4542.048, 'text': "If you make a great product and it connects with users, that's the magic.", 'start': 4539.586, 'duration': 2.462}, {'end': 4544.609, 'text': "You look at Clubhouse, it's actually a really well-designed product.", 'start': 4542.068, 'duration': 2.541}, {'end': 4547.631, 'text': 'And that product is connecting with customers.', 'start': 4545.71, 'duration': 1.921}, {'end': 4553.075, 'text': 'And if you were to talk to the customers or look at the product, you would see a well-constructed product and a delighted customer.', 'start': 4547.691, 'duration': 5.384}, {'end': 4556.597, 'text': 'And you can tell the delighted customer by just the amount of time they use it.', 'start': 4553.575, 'duration': 3.022}], 'summary': 'Well-designed product like clubhouse connects with delighted customers, evident from usage time.', 'duration': 24.115, 'max_score': 4532.482, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM4532482.jpg'}, {'end': 4786.805, 'src': 'embed', 'start': 4752.459, 'weight': 6, 'content': [{'end': 4754.359, 'text': "At the pace we're going, at 1.5 a day.", 'start': 4752.459, 'duration': 1.9}, {'end': 4758.821, 'text': "I think when the Johnson & Johnson one comes out next month, it'll be three million a day maybe, two and a half.", 'start': 4754.379, 'duration': 4.442}, {'end': 4761.963, 'text': "And we already have 100 million people who've likely had it.", 'start': 4759.781, 'duration': 2.182}, {'end': 4762.904, 'text': "So I've been doing the math.", 'start': 4762.023, 'duration': 0.881}, {'end': 4766.367, 'text': "I think we're like 60 days away, February, March.", 'start': 4762.944, 'duration': 3.423}, {'end': 4769.43, 'text': "Yeah, sometime in April, I think anybody's gonna be able to get a shot.", 'start': 4766.407, 'duration': 3.023}, {'end': 4772.873, 'text': 'And the number of deaths is gonna go below 200 a day.', 'start': 4770.03, 'duration': 2.843}, {'end': 4775.775, 'text': 'And once that happens, I think people have had enough of this.', 'start': 4773.393, 'duration': 2.382}, {'end': 4777.117, 'text': "They're just gonna go YOLO.", 'start': 4776.256, 'duration': 0.861}, {'end': 4786.805, 'text': "But see, the crucial piece for me that I've been focusing on is the social media aspect of how the.", 'start': 4779.038, 'duration': 7.767}], 'summary': 'Projected 60 days until widespread vaccination, with deaths below 200 a day, and potential social behavior change.', 'duration': 34.346, 'max_score': 4752.459, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM4752459.jpg'}, {'end': 4817.145, 'src': 'embed', 'start': 4789.527, 'weight': 7, 'content': [{'end': 4798.014, 'text': "it's about the state of the collective intelligence of the human species, which is determined by our communication on social media.", 'start': 4789.527, 'duration': 8.487}, {'end': 4809.942, 'text': 'So yeah, we can be collectively afraid, the fear can spread, or it could be YOLO can spread, or it could be all different kinds of misinformation.', 'start': 4798.374, 'duration': 11.568}, {'end': 4817.145, 'text': 'And of course, during the election year, the politics influences our perception of what is true and not.', 'start': 4810.042, 'duration': 7.103}], 'summary': 'Social media shapes collective intelligence, spreading fear, yolo, and misinformation, influencing perceptions.', 'duration': 27.618, 'max_score': 4789.527, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM4789527.jpg'}, {'end': 5153.888, 'src': 'heatmap', 'start': 5036.852, 'weight': 8, 'content': [{'end': 5038.713, 'text': "And that's why we have all this mental health issues.", 'start': 5036.852, 'duration': 1.861}, {'end': 5049.696, 'text': 'Also, young girls or even adults watching other people post their private jets and their vacations and YOLO adventures on their Instagram.', 'start': 5039.173, 'duration': 10.523}, {'end': 5053.738, 'text': 'to the point at which young people are now faking,', 'start': 5050.256, 'duration': 3.482}, {'end': 5062.601, 'text': 'being on private jets to put on their Instagram and creating this crazy FOMO around their Instagrams.', 'start': 5053.738, 'duration': 8.863}, {'end': 5064.842, 'text': 'We wonder why people are unhappy.', 'start': 5063.522, 'duration': 1.32}, {'end': 5069.584, 'text': "If you think everybody's on a private jet going to some Michelin star restaurant or whatever,", 'start': 5065.042, 'duration': 4.542}, {'end': 5076.447, 'text': 'the coolest thing in the world is today like going to the Grammys, going to whatever Coachella Burning Man.', 'start': 5069.584, 'duration': 6.863}, {'end': 5077.928, 'text': "you're like oh but I'm home.", 'start': 5076.447, 'duration': 1.481}, {'end': 5083.99, 'text': "I'm in my house, and I'm not at Burning Man at all.", 'start': 5079.665, 'duration': 4.325}, {'end': 5088.134, 'text': 'Exactly So this whole system is creating the wrong set of incentives.', 'start': 5084.21, 'duration': 3.924}, {'end': 5094.942, 'text': "I tend to believe it's possible to still have extremely high engagement and create a successful, profitable business,", 'start': 5088.355, 'duration': 6.587}, {'end': 5101.187, 'text': 'while encouraging personal growth like encouraging people to be the best version of themselves.', 'start': 5095.702, 'duration': 5.485}, {'end': 5105.43, 'text': "I just think we haven't, we got the first generation of social networks.", 'start': 5101.247, 'duration': 4.183}, {'end': 5107.552, 'text': 'I think a new generation needs to be built.', 'start': 5105.49, 'duration': 2.062}, {'end': 5109.073, 'text': 'Is that your plan for a business?', 'start': 5107.812, 'duration': 1.261}, {'end': 5122.124, 'text': 'Well, I have a longer term plan in terms of ambition, which is, I believe, in being able to have deep connection between human and AI systems,', 'start': 5109.354, 'duration': 12.77}, {'end': 5123.225, 'text': 'like partners, friends.', 'start': 5122.124, 'duration': 1.101}, {'end': 5126.127, 'text': 'There is a connection to there with social media.', 'start': 5123.905, 'duration': 2.222}, {'end': 5137.015, 'text': 'I do think AI has a strong role to play in representing us, in guiding us in how we consume social media.', 'start': 5126.267, 'duration': 10.748}, {'end': 5143.42, 'text': 'So this algorithm that controls the feed for Facebook is a somewhat centralized algorithm.', 'start': 5137.315, 'duration': 6.105}, {'end': 5150.045, 'text': 'but instead to give more power to the people, individuals to where each one of us have our own algorithm.', 'start': 5144.04, 'duration': 6.005}, {'end': 5152.407, 'text': 'Bring your own algorithm, BYOA.', 'start': 5150.145, 'duration': 2.262}, {'end': 5153.888, 'text': 'BYOA, I like it.', 'start': 5152.808, 'duration': 1.08}], 'summary': 'Social media creates fomo, impacting mental health. need for new gen networks and personalized ai algorithms.', 'duration': 52.641, 'max_score': 5036.852, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM5036852.jpg'}, {'end': 5206.176, 'src': 'embed', 'start': 5177.306, 'weight': 10, 'content': [{'end': 5179.107, 'text': 'That could be a beautiful thing for society.', 'start': 5177.306, 'duration': 1.801}, {'end': 5185.992, 'text': 'And actually, Jack was talking about potentially on Twitter, letting people bring their own algorithms and sort their feeds themselves.', 'start': 5179.147, 'duration': 6.845}, {'end': 5187.293, 'text': 'This would be a wonderful thing.', 'start': 5186.493, 'duration': 0.8}, {'end': 5197.168, 'text': "I think it's one of the reasons Clubhouse has resonated is it's such a diverse group of people that i've been able to drop in on conversations with people who are nothing like me,", 'start': 5187.313, 'duration': 9.855}, {'end': 5202.033, 'text': "yes, and listen in and and hear conversations that i wouldn't normally be privy to.", 'start': 5197.168, 'duration': 4.865}, {'end': 5205.335, 'text': "and i, my everybody's like oh, come join as a speaker.", 'start': 5202.033, 'duration': 3.302}, {'end': 5206.176, 'text': 'i want to do a room with you.', 'start': 5205.335, 'duration': 0.841}], 'summary': "Potential for user-customized algorithms on twitter could enhance diversity and inclusivity. clubhouse's diverse appeal fosters unique conversations.", 'duration': 28.87, 'max_score': 5177.306, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM5177306.jpg'}], 'start': 4339.219, 'title': 'Startup success, angel investing, and covid-19 challenges', 'summary': "Covers the significance of quick access to resources for startups, valuable advice for entrepreneurs and investors, and the impact of covid-19 on testing, vaccine distribution, reopening timelines, social media's addictive nature, mental health, and the potential role of ai in social media. it also highlights the investment in the calm meditation app and its success.", 'chapters': [{'end': 4385.896, 'start': 4339.219, 'title': 'Startup success and angel investing', 'summary': 'Discusses the importance of quick access to resources for startups, along with valuable advice for both entrepreneurs and investors, including the mention of a book, angel university course, and a syndicate with 6,500 members.', 'duration': 46.677, 'highlights': ['The syndicate has 6,500 members, making it the largest in the world.', 'Quick access to resources, such as a microphone or a cable, within a day or less, is considered one of the greatest benefits for startups.', 'The speaker provides advice on startups and angel investing, including a book called Angel and a course called Angel University, which is taught six times a year.']}, {'end': 4662.073, 'start': 4386.792, 'title': 'Investing in calm meditation app', 'summary': "Discusses the investment made in the calm meditation app, which yielded a significant return, emphasizing the importance of a well-built product and delighted customers, using examples like ucla's meditation program, the success of snapchat, and the engagement levels in clubhouse.", 'duration': 275.281, 'highlights': ["The investment in the Calm meditation app yielded significant returns, with the initial $378,000 investment in a $5 million company now being worth 2 billion, representing a remarkable growth of the product. The investment of $378,000 into the Calm meditation app when it was valued at $5 million resulted in the company's current worth of 2 billion, demonstrating a substantial return on investment.", "The decision to invest in Calm was influenced by Sam Harris's endorsement of meditation and the success of UCLA's meditation program, which had notable figures like Phil Jackson and Kobe Bryant as beneficiaries, showcasing the credibility and impact of the product. The endorsement of meditation by Sam Harris and the success of UCLA's meditation program, which had notable figures like Phil Jackson and Kobe Bryant as beneficiaries, influenced the decision to invest in the Calm app, highlighting the credibility and impact of the product.", "The importance of a well-built product and delighted customers is emphasized, with examples such as Snapchat's high user engagement levels and the addictive nature of its features, as well as the success of Clubhouse in garnering significant investment due to its high user engagement, emphasizing the significance of product-market fit and user satisfaction. The emphasis on the importance of a well-built product and delighted customers is highlighted through examples like Snapchat's high user engagement levels and the addictive nature of its features, as well as the success of Clubhouse in garnering significant investment due to its high user engagement, underscoring the significance of product-market fit and user satisfaction."]}, {'end': 5475.121, 'start': 4662.253, 'title': 'Challenges of covid-19 and social media', 'summary': "Discusses the challenges of covid-19, including the slow pace of testing, vaccine distribution, and the potential timeline for reopening, as well as the impact of social media on collective intelligence and the need for a new approach to social networking. it also explores the addictive nature of social media, its impact on mental health, and the potential for a new generation of social networks. additionally, it delves into the potential role of ai in representing and guiding social media consumption, and the concept of bringing one's own algorithm to personalize content. the conversation also touches on the impact of social media on society, including the rise of outrage and cancel culture, and the potential of platforms like clubhouse to facilitate diverse conversations and learning experiences.", 'duration': 812.868, 'highlights': ['The pace of COVID-19 vaccinations could increase to 3 million shots a day with the introduction of the Johnson & Johnson vaccine, potentially leading to widespread availability of vaccinations by April. The speaker suggests that the pace of vaccinations could significantly increase to 3 million shots a day with the introduction of the Johnson & Johnson vaccine, and predicts widespread availability of vaccinations by April, providing a timeline for potential normalcy.', 'The impact of social media on collective intelligence is emphasized, with concerns about the spread of fear, misinformation, and division driven by social media communication. The chapter underscores the influence of social media on collective intelligence, expressing concerns about the spread of fear, misinformation, and division driven by social media communication, highlighting the potential societal impact.', 'Discusses the addictive nature of social media, its impact on mental health, and the need for a new approach to social networking, highlighting the potential for a new generation of social networks that encourage personal growth. The discussion explores the addictive nature of social media, its impact on mental health, and the need for a new approach to social networking, emphasizing the potential for a new generation of social networks that prioritize personal growth, offering insights into the evolving landscape of social media.', "Explores the potential role of AI in representing and guiding social media consumption, including the concept of bringing one's own algorithm to personalize content and the implications for societal engagement. The chapter delves into the potential role of AI in representing and guiding social media consumption, featuring the concept of bringing one's own algorithm to personalize content and discussing its implications for societal engagement, offering a glimpse into the future of social media interfaces.", 'Discusses the impact of social media on society, including the rise of outrage and cancel culture, and the potential of platforms like Clubhouse to facilitate diverse conversations and learning experiences. The conversation delves into the impact of social media on society, addressing the rise of outrage and cancel culture, and highlighting the potential of platforms like Clubhouse to foster diverse conversations and learning experiences, shedding light on the evolving dynamics of social media platforms.']}], 'duration': 1135.902, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM4339219.jpg', 'highlights': ['The syndicate has 6,500 members, making it the largest in the world.', 'Quick access to resources, such as a microphone or a cable, within a day or less, is considered one of the greatest benefits for startups.', 'The speaker provides advice on startups and angel investing, including a book called Angel and a course called Angel University, which is taught six times a year.', 'The investment in the Calm meditation app yielded significant returns, with the initial $378,000 investment in a $5 million company now being worth 2 billion, representing a remarkable growth of the product.', "The decision to invest in Calm was influenced by Sam Harris's endorsement of meditation and the success of UCLA's meditation program, which had notable figures like Phil Jackson and Kobe Bryant as beneficiaries, showcasing the credibility and impact of the product.", "The importance of a well-built product and delighted customers is emphasized, with examples such as Snapchat's high user engagement levels and the addictive nature of its features, as well as the success of Clubhouse in garnering significant investment due to its high user engagement, emphasizing the significance of product-market fit and user satisfaction.", 'The pace of COVID-19 vaccinations could increase to 3 million shots a day with the introduction of the Johnson & Johnson vaccine, potentially leading to widespread availability of vaccinations by April.', 'The impact of social media on collective intelligence is emphasized, with concerns about the spread of fear, misinformation, and division driven by social media communication.', 'Discusses the addictive nature of social media, its impact on mental health, and the need for a new approach to social networking, highlighting the potential for a new generation of social networks that encourage personal growth.', "Explores the potential role of AI in representing and guiding social media consumption, including the concept of bringing one's own algorithm to personalize content and the implications for societal engagement.", 'Discusses the impact of social media on society, including the rise of outrage and cancel culture, and the potential of platforms like Clubhouse to facilitate diverse conversations and learning experiences.']}, {'end': 6404.253, 'segs': [{'end': 5656.765, 'src': 'embed', 'start': 5633.565, 'weight': 0, 'content': [{'end': 5642.607, 'text': "But the goal is in these venture funds, we're gonna invest in 30 names and one or two of them are gonna return three times the capital we've deployed.", 'start': 5633.565, 'duration': 9.042}, {'end': 5646.027, 'text': "So it's a $300 million fund and there's 30 names and they each got 10 million.", 'start': 5643.027, 'duration': 3}, {'end': 5650.661, 'text': 'That means one of the 10 million is gonna return the fund plus.', 'start': 5646.428, 'duration': 4.233}, {'end': 5656.765, 'text': 'So that means it has to grow 30X and then 60X to double the fund.', 'start': 5651.201, 'duration': 5.564}], 'summary': 'Investing in 30 names, aiming for 3x return on capital in a $300m fund.', 'duration': 23.2, 'max_score': 5633.565, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM5633565.jpg'}, {'end': 5932.838, 'src': 'embed', 'start': 5903.701, 'weight': 1, 'content': [{'end': 5907.083, 'text': 'If you want that, if you want to go to Navy SEAL school,', 'start': 5903.701, 'duration': 3.382}, {'end': 5912.585, 'text': "you're going to be in pain and they're going to put that hose in your face while you're underwater, with your hands tied behind your back in the pool,", 'start': 5907.083, 'duration': 5.502}, {'end': 5915.507, 'text': "and you're going to be choking and they might have to do CPR on you.", 'start': 5912.585, 'duration': 2.922}, {'end': 5919.991, 'text': 'And like every couple of years, tragically, Somebody dies in Navy SEAL school.', 'start': 5915.547, 'duration': 4.444}, {'end': 5922.432, 'text': "Doesn't mean we're getting rid of the Navy SEALs.", 'start': 5921.191, 'duration': 1.241}, {'end': 5923.833, 'text': 'Like Rocky, if he dies, he dies.', 'start': 5922.452, 'duration': 1.381}, {'end': 5925.934, 'text': "I don't know if you know who David Goggins is by any chance.", 'start': 5923.853, 'duration': 2.081}, {'end': 5926.334, 'text': 'I do.', 'start': 5925.994, 'duration': 0.34}, {'end': 5928.335, 'text': "I mean, I don't know him personally, but oh my Lord.", 'start': 5926.354, 'duration': 1.981}, {'end': 5932.838, 'text': "So I'm running 48 miles together with him in person in a month.", 'start': 5928.875, 'duration': 3.963}], 'summary': 'Navy seal school entails intense challenges, with occasional fatalities; also, planning a 48-mile run with david goggins.', 'duration': 29.137, 'max_score': 5903.701, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM5903701.jpg'}, {'end': 6016.092, 'src': 'embed', 'start': 5993.285, 'weight': 3, 'content': [{'end': 6003.069, 'text': "He's literally interested in, uh, just doing hard shit all the time, breaking himself, breaking He seems like he wants to break himself.", 'start': 5993.285, 'duration': 9.784}, {'end': 6004.85, 'text': 'And that book is amazing.', 'start': 6003.19, 'duration': 1.66}, {'end': 6015.192, 'text': "And the audio book's amazing when he's talking about how fat he was and how he just had to go and keep running and his legs are broken and he's just in super pain and he just goes through it.", 'start': 6004.93, 'duration': 10.262}, {'end': 6016.092, 'text': "It's really inspiring.", 'start': 6015.232, 'duration': 0.86}], 'summary': 'Inspiring book about pushing through pain and challenges.', 'duration': 22.807, 'max_score': 5993.285, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM5993285.jpg'}, {'end': 6135.02, 'src': 'embed', 'start': 6108.965, 'weight': 2, 'content': [{'end': 6113.306, 'text': "because I don't think it's as big of a space as it came off as sounding.", 'start': 6108.965, 'duration': 4.341}, {'end': 6115.227, 'text': 'What is the nature of the disagreement?', 'start': 6113.326, 'duration': 1.901}, {'end': 6128.376, 'text': 'He felt that Robinhood turned off trading because the hedge funds told them to, and that they were bowing down to the pressure of the hedge funds.', 'start': 6115.567, 'duration': 12.809}, {'end': 6135.02, 'text': "That's not true, but in a vacuum of information, you know what happens to people's minds, conspiracy theories abound.", 'start': 6128.396, 'duration': 6.624}], 'summary': 'Disagreement over robinhood trading halt due to conspiracy theories.', 'duration': 26.055, 'max_score': 6108.965, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM6108965.jpg'}], 'start': 5475.121, 'title': 'Dynamics of investment and resilient mindset', 'summary': "Covers dynamics of startup funding, venture capital, and the impact on startup growth, as well as the intense training and mindset of navy seals, highlighting the story of david goggins. it also delves into the controversy over robinhood's trading halt and the clash between loyalty and competition in investments.", 'chapters': [{'end': 5903.561, 'start': 5475.121, 'title': 'Investing in startups and venture capital', 'summary': 'Discusses the dynamics of startup funding and venture capital, emphasizing the pressure for fast growth and high returns, the challenges of vc investment, and the impact of vc on startup growth, highlighting the importance of customer revenue and the role of venture capitalists in startup success.', 'duration': 428.44, 'highlights': ['Venture capital community funds only about 1% of enterprises started in the United States every year, with the expectation of triple annualized returns of 25% and higher, and needing one or two investments to return three times the capital deployed. The venture capital community funds a very small percentage of enterprises, aiming for triple annualized returns of 25% and higher, and looks for one or two investments to return three times the capital deployed.', "The dynamics of venture capital game differ from the founder's perspective, where venture capitalists focus on betting on 30 names and needing two to three to hit it out of the park, highlighting the pressure for high returns and the binary nature of VC investments. Venture capitalists focus on betting on 30 names and needing two to three to hit it out of the park, putting pressure for high returns and highlighting the binary nature of VC investments.", 'The impact of venture capital on startup growth is discussed, emphasizing the pressure for fast growth and high returns, and the contrasting approach of building off customer revenue, highlighting the challenges and different perspectives of VC and founders. The impact of venture capital on startup growth is discussed, emphasizing the pressure for fast growth and high returns, and the contrasting approach of building off customer revenue, highlighting the challenges and different perspectives of VC and founders.', 'The challenges of VC investment are highlighted, including the pressure for fast growth and high returns, and the contrasting approach of building off customer revenue, emphasizing the importance of customer revenue for startup success. The challenges of VC investment are highlighted, including the pressure for fast growth and high returns, and the contrasting approach of building off customer revenue, emphasizing the importance of customer revenue for startup success.']}, {'end': 6087.039, 'start': 5903.701, 'title': 'Navy seal training and ultra marathon', 'summary': 'Discusses the intense training and mindset of navy seals, including their rigorous physical challenges and the inspiring story of david goggins, who embodies resilience and perseverance, alongside a brief mention of the all in podcast and their special guest, draymond green from the warriors.', 'duration': 183.338, 'highlights': ["The rigorous training of Navy SEALs involves intense physical challenges, including being underwater with a hose in one's face and hands tied behind the back, leading to tragic deaths every few years. The training at Navy SEAL school involves extreme physical challenges, such as being underwater with a hose in one's face and hands tied behind the back, resulting in occasional tragic deaths.", "David Goggins' inspiring story of overcoming challenges, including running 48 miles and his dedication to pushing himself, breaking barriers, and enduring extreme physical pain. David Goggins is highlighted for his inspiring story of running 48 miles and his relentless dedication to breaking barriers and enduring extreme physical pain, embodying resilience and perseverance.", 'Mention of the All In podcast and their special guest, Draymond Green from the Warriors, who joined them for episode 21. The All In podcast and its special guest, Draymond Green from the Warriors, are briefly mentioned, adding a different dimension to the conversation.']}, {'end': 6404.253, 'start': 6087.079, 'title': 'Robinhood controversy and loyalty', 'summary': "Discusses the disagreement over robinhood's trading halt, the importance of loyalty to investments, and the clash between loyalty and competition, with a focus on the conflict between the speakers and the impact on their investments.", 'duration': 317.174, 'highlights': ["The nature of the disagreement over Robinhood's trading halt and the clash between loyalty and competition. The chapter delves into the disagreement regarding Robinhood's trading halt, emphasizing the clash between loyalty to investments and the competitive dynamics between the speakers, particularly the impact on their respective companies and investments.", "Importance of loyalty to investments and the speaker's dedication to defending their teams publicly. The speaker emphasizes the significance of loyalty to investments and the commitment to publicly defending their teams, highlighting the ethical stance of supporting and advocating for their investments in the face of challenges.", 'Influence of incomplete information and competitive dynamics on the disagreement. The impact of incomplete information and competitive dynamics on the disagreement is discussed, shedding light on the challenges and conflicts arising from limited knowledge and the competitive nature of the investment landscape.']}], 'duration': 929.132, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM5475121.jpg', 'highlights': ['Venture capital community funds only about 1% of enterprises started in the United States every year, with the expectation of triple annualized returns of 25% and higher, and needing one or two investments to return three times the capital deployed.', "The rigorous training of Navy SEALs involves intense physical challenges, including being underwater with a hose in one's face and hands tied behind the back, leading to tragic deaths every few years.", "The nature of the disagreement over Robinhood's trading halt and the clash between loyalty and competition.", "David Goggins' inspiring story of overcoming challenges, including running 48 miles and his dedication to pushing himself, breaking barriers, and enduring extreme physical pain."]}, {'end': 7869.157, 'segs': [{'end': 6488.447, 'src': 'embed', 'start': 6444.434, 'weight': 2, 'content': [{'end': 6447.735, 'text': 'You know, people who are friends are gonna have disagreements.', 'start': 6444.434, 'duration': 3.301}, {'end': 6454.537, 'text': "In the podcast, it happened to happen very publicly and we didn't know it was gonna become the number one story in the world.", 'start': 6448.135, 'duration': 6.402}, {'end': 6458.018, 'text': 'If Trump still had his Twitter handle, this would not have been a story.', 'start': 6455.257, 'duration': 2.761}, {'end': 6463.92, 'text': 'Trump would have said something about GameStop and he would have co-opted the entire conversation.', 'start': 6459.219, 'duration': 4.701}, {'end': 6470.102, 'text': 'So in a way, going back to our censorship discussion, I might actually be in favor of Trump being censored.', 'start': 6464.22, 'duration': 5.882}, {'end': 6476.765, 'text': 'Only because, only because how delightful has it been since January 20th? Yeah.', 'start': 6471.304, 'duration': 5.461}, {'end': 6479.966, 'text': 'That we can all focus on something other than him.', 'start': 6477.265, 'duration': 2.701}, {'end': 6482.446, 'text': 'Yeah He was exhausting.', 'start': 6479.986, 'duration': 2.46}, {'end': 6486.347, 'text': 'I mean, the amount of cycles he took on our processors.', 'start': 6483.246, 'duration': 3.101}, {'end': 6488.447, 'text': 'He monopolized the, uh, the conversation.', 'start': 6486.387, 'duration': 2.06}], 'summary': "Public disagreement turned global story; trump's absence allows other focus.", 'duration': 44.013, 'max_score': 6444.434, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM6444434.jpg'}, {'end': 6799.253, 'src': 'embed', 'start': 6769.626, 'weight': 1, 'content': [{'end': 6773.929, 'text': "And what is this personal destruction? Why are we doing this to each other? Life's hard enough.", 'start': 6769.626, 'duration': 4.303}, {'end': 6777.331, 'text': "Life's hard, right? Like just getting through the day's hard.", 'start': 6774.829, 'duration': 2.502}, {'end': 6782.017, 'text': 'Yeah, and that little bit of empathy, thinking about the intent of the person,', 'start': 6777.833, 'duration': 4.184}, {'end': 6787.942, 'text': 'allows you to then sort of deescalate this kind of conversation that social media wants to escalate.', 'start': 6782.017, 'duration': 5.925}, {'end': 6790.184, 'text': 'Yes, back to what we were saying.', 'start': 6788.403, 'duration': 1.781}, {'end': 6794.048, 'text': 'If this in my younger years,', 'start': 6790.585, 'duration': 3.463}, {'end': 6799.253, 'text': "I would have retweeted the guy's home address and my address and would have called his boss and tried to get him fired or whatever.", 'start': 6794.048, 'duration': 5.205}], 'summary': 'Encouraging empathy to deescalate online conflicts and avoid personal destruction.', 'duration': 29.627, 'max_score': 6769.626, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM6769626.jpg'}, {'end': 6886.83, 'src': 'embed', 'start': 6851.401, 'weight': 6, 'content': [{'end': 6861.13, 'text': "We talked about, there's music to my ears, your whole rant on the Olympic nature of a startup.", 'start': 6851.401, 'duration': 9.729}, {'end': 6876.271, 'text': 'Is there a role like what role does love, family, friendship play in that brutal pursuit of excellence that is building a startup,', 'start': 6863.573, 'duration': 12.698}, {'end': 6879.536, 'text': 'building a company or building any, creating anything new in this world?', 'start': 6876.271, 'duration': 3.265}, {'end': 6884.127, 'text': 'Such a great question and totally unprepared for it.', 'start': 6880.643, 'duration': 3.484}, {'end': 6886.83, 'text': 'Because nobody would ever ask me about that.', 'start': 6885.208, 'duration': 1.622}], 'summary': 'Exploring the influence of love, family, and friendship in the challenging pursuit of building a startup or creating something new.', 'duration': 35.429, 'max_score': 6851.401, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM6851401.jpg'}, {'end': 6944.635, 'src': 'embed', 'start': 6921.986, 'weight': 0, 'content': [{'end': 6935.25, 'text': "There was a moment in time when Tesla almost went out of business and you've probably heard this story many times but it was during the financial crisis and they were running out of money And I said,", 'start': 6921.986, 'duration': 13.264}, {'end': 6936.471, 'text': "you know, let's go get a steak.", 'start': 6935.25, 'duration': 1.221}, {'end': 6937.451, 'text': "And we're in L.A.", 'start': 6936.831, 'duration': 0.62}, {'end': 6944.635, 'text': 'and we drove to Boa and I had my orange Tesla Roadster and he had his P1 or P2, like the red one that I think is in space now.', 'start': 6937.471, 'duration': 7.164}], 'summary': "During the financial crisis, tesla almost went out of business, but elon musk's orange tesla roadster and his friend's red p1 or p2 provided a moment of relief.", 'duration': 22.649, 'max_score': 6921.986, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM6921986.jpg'}, {'end': 7471.251, 'src': 'embed', 'start': 7447.938, 'weight': 3, 'content': [{'end': 7455.542, 'text': "your little magical moment of love amidst the suffering with Elon, because you've talked about it, it'll have these ripple effects.", 'start': 7447.938, 'duration': 7.604}, {'end': 7457.884, 'text': "It's fascinating to think about in decades to come.", 'start': 7455.602, 'duration': 2.282}, {'end': 7461.326, 'text': 'And new entrepreneurs being born new,', 'start': 7458.504, 'duration': 2.822}, {'end': 7468.63, 'text': 'more love being put out there and more support through these rough times when people are trying to create new things.', 'start': 7461.326, 'duration': 7.304}, {'end': 7471.251, 'text': "I mean, that's a beautiful thing.", 'start': 7469.51, 'duration': 1.741}], 'summary': 'Love and support leading to ripple effects in entrepreneurship and new creations.', 'duration': 23.313, 'max_score': 7447.938, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM7447938.jpg'}, {'end': 7869.157, 'src': 'embed', 'start': 7850.393, 'weight': 5, 'content': [{'end': 7854.895, 'text': 'And now let me leave you with some words from the man himself, Jason Calacanis.', 'start': 7850.393, 'duration': 4.502}, {'end': 7859.708, 'text': 'The number one reason a startup shuts down is not running out of money.', 'start': 7855.765, 'duration': 3.943}, {'end': 7865.674, 'text': 'The number one reason a startup fails is that the founder gives up.', 'start': 7859.728, 'duration': 5.946}, {'end': 7869.157, 'text': 'Thank you for listening and hope to see you next time.', 'start': 7866.875, 'duration': 2.282}], 'summary': 'Top reason startups fail: founder gives up, not running out of money.', 'duration': 18.764, 'max_score': 7850.393, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM7850393.jpg'}], 'start': 6404.933, 'title': 'Controversies and personal triumphs', 'summary': "Discusses the robinhood controversy, emphasizing the impact of trump's absence from social media and the gamestop stock surge. it also highlights the importance of empathy and understanding intent in online interactions, shares elon musk's darkest moment during the financial crisis, and emphasizes the power of friendship in entrepreneurship.", 'chapters': [{'end': 6488.447, 'start': 6404.933, 'title': 'Robinhood, gamestop, and trump', 'summary': "Discusses the robinhood controversy amidst the gamestop stock surge, including the ceo's skiing trip, public disagreement, and the impact of trump's absence from social media.", 'duration': 83.514, 'highlights': ['The CEO discusses the public disagreement with a friend and the unexpected global attention it garnered.', "The CEO reflects on the impact of Trump's absence from social media, expressing relief at the shift in public focus.", 'The CEO shares his skiing trip experience and the sudden emergence of the Robinhood controversy amidst the GameStop stock surge.']}, {'end': 6828.584, 'start': 6488.947, 'title': 'Empathy and intent in online interactions', 'summary': 'Highlights the importance of empathy and understanding intent in online interactions, emphasizing the need for de-escalation and compassion, especially in the current challenging times, and shares a personal experience to illustrate the impact of considering intent and the dangers of personal destruction in social media.', 'duration': 339.637, 'highlights': ['The importance of empathy and understanding intent in online interactions, emphasizing the need for de-escalation and compassion, especially in the current challenging times The speaker stresses the significance of empathy and understanding the intent of others in online interactions, particularly during challenging times such as the pandemic, and advocates for de-escalation and compassion.', 'Personal experience illustrating the impact of considering intent and the dangers of personal destruction in social media The speaker shares a personal experience of being doxed on social media and the subsequent conversation with the perpetrator, highlighting the impact of considering intent and the dangers of personal destruction in online interactions.']}, {'end': 7209.77, 'start': 6828.584, 'title': "Elon musk's darkest moment", 'summary': "Highlights a pivotal moment in elon musk's life, during the financial crisis, where tesla almost went out of business, and he was functionally bankrupt, revealing the role of friendship, support, and love in overcoming adversity, leading to the creation of the model s and tesla's survival.", 'duration': 381.186, 'highlights': ["Elon Musk's darkest moment: During the financial crisis, Tesla almost went out of business, and Musk was functionally bankrupt, with only two weeks of money left in Tesla and SpaceX facing setbacks. Financial crisis, two weeks of money left in Tesla, SpaceX facing setbacks.", 'Role of friendship and support: Jason Calacanis offered to loan Musk a couple of million dollars when he was struggling, and someone else also loaned him money to keep the companies afloat. Jason Calacanis offering to loan Musk money, someone else loaning Musk money.', 'Creation of the Model S: Musk revealed the Model S to Jason Calacanis during this dark period, and Calacanis immediately recognized its potential to change the world, leading him to write two $50,000 checks to support the project. Musk revealing the Model S, Jason Calacanis writing two $50,000 checks to support the project.']}, {'end': 7869.157, 'start': 7209.83, 'title': 'The power of friendship and entrepreneurship', 'summary': "Highlights the importance of friendship in entrepreneurship, emphasizing the support needed during rough times, with examples of founder's struggles and a call for gratitude, highlighting that startups fail due to founder giving up rather than running out of money, and the ripple effect of supporting and inspiring others, including reaching a global audience of millions.", 'duration': 659.327, 'highlights': ['Startups fail due to the founder giving up rather than running out of money. The number one reason a startup shuts down is not running out of money. The number one reason a startup fails is that the founder gives up.', "The ripple effect of supporting and inspiring others, including reaching a global audience of millions. Every podcast, you get 500,000 people, a million people watch these videos and there's some kid in Sri Lanka or some little girl in Afghanistan who's gonna stumble upon this on YouTube and they're gonna change the world in the next century.", "The importance of friendship in entrepreneurship, emphasizing the support needed during rough times, with examples of founder's struggles and a call for gratitude. And I think friendship is you get what you give. You get what you give. And if you are there for people, you're gonna feel so good about having done that."]}], 'duration': 1464.224, 'thumbnail': 'https://coursnap.oss-ap-southeast-1.aliyuncs.com/video-capture/d2bYwYxqJCM/pics/d2bYwYxqJCM6404933.jpg', 'highlights': ["Elon Musk's darkest moment: During the financial crisis, Tesla almost went out of business, and Musk was functionally bankrupt, with only two weeks of money left in Tesla and SpaceX facing setbacks.", 'The importance of empathy and understanding intent in online interactions, emphasizing the need for de-escalation and compassion, especially in the current challenging times.', "The CEO reflects on the impact of Trump's absence from social media, expressing relief at the shift in public focus.", 'The ripple effect of supporting and inspiring others, including reaching a global audience of millions.', 'The CEO discusses the public disagreement with a friend and the unexpected global attention it garnered.', 'Startups fail due to the founder giving up rather than running out of money. The number one reason a startup shuts down is not running out of money.', "The importance of friendship in entrepreneurship, emphasizing the support needed during rough times, with examples of founder's struggles and a call for gratitude."]}], 'highlights': ['The discussion around Wall Street Bets and GameStop is highlighted as a historic event in terms of its impact and philosophical implications on the role of people in fighting power.', 'The human side of finance and economics, including concepts of greed, power, freedom, and truth, is found to be fascinating and forms the basis of great conversations about human nature and civilization rise and fall.', 'The potential of motivated efforts in addressing pandemics, particularly showcased by the development of mRNA vaccines and the possibility of eliminating future pandemics by leveraging motivations and reducing regulations.', 'The potential shift towards decentralized and distributed computing platforms challenges the control of centralized platforms like Twitter and Facebook.', 'Great tech leaders need vision and sacrifice, exemplified by Musk, Bezos, and Jobs.', 'Entrepreneurs need to be charismatic and passionate to attract people to join their journey, transferring enthusiasm to investors, press, customers, and stakeholders.', 'The syndicate has 6,500 members, making it the largest in the world.', 'Venture capital community funds only about 1% of enterprises started in the United States every year, with the expectation of triple annualized returns of 25% and higher, and needing one or two investments to return three times the capital deployed.', "Elon Musk's darkest moment: During the financial crisis, Tesla almost went out of business, and Musk was functionally bankrupt, with only two weeks of money left in Tesla and SpaceX facing setbacks.", 'The importance of empathy and understanding intent in online interactions, emphasizing the need for de-escalation and compassion, especially in the current challenging times.']}