You are on page 1of 1285

lessons

from my 20s
Ryan Allis
ABOUT THIS PRESENTATION

THIS presentation can be found


Online at
www.hive.org/20s
Lessons from my 20s

INTRODUCTION
Well, hello there

Hi there,

I’m Ryan. I’m an entrepreneur living in San Francisco.
I created this presentation in advance of my 30th
birthday on August 14, 2014 to share what I learned
in my twenties about life, entrepreneurship, and the
world. I hope you will find it useful!
If you have questions or thoughts, feel free to email me anytime via
ryan@connect.com.

Best,
Ryan Allis
TOPICS
THIS 1285 slide PRESENTATION COVERs What I’ve learned about

1
LIFE 567 SlIDES

2
entrepreneurship 449 SLIDES

3
The world 269 SLIDES
PART 1 TOPICS
PART 1 “LIFE” INCLUDES SECTIONS ON
GOALS HABITS
Purpose COMMUNICATION
vision Money
NETWORKS Investing
MENTORS Love
HAPPINESS values
Health Life LESSONS
MEDITATION
PART 2 TOPICS
PART 2 “ENTREPRENEURSHIP” INCLUDES SECTIONS ON
The big opportunities Venture capital
Entrepreneurship Marketing
Leadership Building systems
Business planning Building a team
Product development Strategy & execution
Innovation Steps to get started
PART 3 TOPICS
PART 3 “THE WORLD” INCLUDES SECTIONS ON

Human rights Millennials


Human progress Climate change
Systems thinking The innovation age
World 2050
TARGET AUDIENCE

MY PRIMARY TARGET AUDIENCE


IS MILLENNIALS 15-35
WHO ARE INTERESTED
IN MAKING A POSITIVE
DIFFERENCE IN THE WORLD
MY MOTIVATION

MY MOTIVATION TO
COMPLETE THIS PROJECt
IS MY MOTHER PAULINE
MY MOTIVATION

SHE PASSED AWAY in 2012


FROM A BRAIN TUMOR
MY MOTIVATION

I WANTED TO DOCUMENT
ALL THE AMAZING
KNOWLEDGE SHE GAVE ME
IN HER 60 years
MY MOTIVATION

She inspired so many


to love everybody
Follow their bliss
and dream big
For some context, here is my background
Born 1984 in Pittsburgh, PA
SON OF A MINISTER from USA & A SOCIAL WORKER from UK
GREW UP IN Woonsocket, Rhode Island and Bradenton, florida
Started learning web development at age 12 in 1996
Majored in econ at UNC-Chapel Hill
Led a software COMPANY CALLED iConTACT from age18-27
Grew icontact to 300 employees then sold company for $170M in 2012
Started mission-driven angel fund called connect ventures in 2012
WENT TO Harvard business school FOR MBA in boston
LEFT HBS after first year TO launch CONNECT in SF
Now living in san francisco and loving it
And here are some of the Topics I’m Passionate about
THE ROLE OF BUSINESS & TECH IN MAKING THE WORLD BETTER
Purpose-driven companies & Social enterprise
CREATING A WORLD WITHOUT POVERTY
CREATING A SUSTAINABLE WORLD
BUILDING GREAT COMPANIES and cultures
INTERNATIONAL RELATIONS & Development economics
JOY AND HAPPINESS
SCIENCE & INNOVATION
Purpose-driven LEADERSHIP
TRAVEL & EXPLORATION
GOVERNMENT & PUBLIC SERVICE
THE MIND & UNDERSTANDING OURSELVES
What I’m deeply passionate about

Helping CREATe An ABUNDANT, SUSTAINABle, and joyOUS WORLD FOR ALL PEOPLE

All people have access to All people can live on a All people can live
1 the six basic human needs
2 sustainable planet with
3 peaceful, mindful, and
clean energy joyous lives
What I’m working on on today
These days I’m the ceo of connect and the chairman of hive in san francisco

Helping people and groups stay connected A global network of leaders working
on creating a better world

www.connect.com www.hive.org
If you enjoy this presentation also check out

www.hive.org/book www.startupguide.com
Let’s get started

All right Now


Let’s get started
1264 slides to go…
Lessons from my 20s

Part I:

LIFE
Lessons from my 20s

PART I, Section 1

GOALs
THE IMPORTANCE OF GOALS

VERY FEW PEOPLE


ACTUALLY WRITE DOWN
THEIR GOALS
THE IMPORTANCE OF GOALS

FEWER STILL
PRINT THEM OUT &
FRAME THEM
THE IMPORTANCE OF GOALS

In my experience
Those who write down
& FRAME THEIR GOALS
ARE THE MOST EFFECTIVE
HUMAN BEINGS AT CREATING
A BETTER WORLD
THE IMPORTANCE OF GOALS

WHEN YOU WRITE a goal DOWN your


subconcious BRAIN BEGINS TO MORE actively
think about bringing into your life
THE PEOPLE, RESOURCES & KNOWLEDGE
YOU NEED TO ACHIEVE your GOALS
THE IMPORTANCE OF GOALS

WHEN YOU know what you’re up to


In the world your mind can naturally
Filter opportunities to find those that

Match your goals


I STARTED WRITING DOWN MY GOALS AT 16

I STARTED WRITING DOWN MY GOALS


AT AGE 16 in the year 2000
AFTER MY MOM GAVE ME THE BOOK
THINK AND GROW RICH
I STARTED WRITING DOWN MY GOALS AT 16

THE FIRST EVER GOAL


I wrote down at age 16 was
“BUILD A COMPANY TO $1M IN SALES BY 21”
I MISSED MY FIRST BIG GOAL

I MISSED THIS GOAL


By 18 days
I TURNED 21 on August 14, 2005
iContact reached $1M in sales on
September 1, 2005
I STARTED WRITING DOWN MY GOALS AT 16

I wouldn’t have even come close


To achieving this goal had I not
Written it down
WRITTEN GOALS ARE INDEED POWERFUL
FOR FOCUSING THE MIND
REFLECTING ON GOALS

I’ve been AMAZED AT WHAT I’VE BEEN


ABLE TO SEE, and EXPERIENCE and
HOW LIFE HAS BEEN ENRICHED SINCE
I BEGAN WRITING DOWN GOALS
AND THEN PURSUING
THE HECK OUT OF THEM
REFLECTING ON GOALS

HERE ARE JUST A FEW


OF THE THINGS in life
I’ve been able to achieve
In my twenties due to
writing down my goals
And then pursuing them
What’s happened in my 20s due to writing my down GOALS
Age Goal Achieved
21 GREW icontact to $1M in sales
23 Raised $5M in venture capital Series A round for iContact
25 Raised $40M in venture capital Series B for icontact
26 icontact reached 300 employees and $50M in annual sales
Joined united nations foundation Global entrepreneur council
Got to Meetworld leaders like ban ki moon, kofi annan, bill clinton, barack obama
27 Sold icontact for $170M to a public company
Started impact investing firm Connect VENTURES
Visited kenya, Uganda, rwanda, egypt, ghana, Invested in off-grid electric in tanzania
Got into harvard business school
28 Invested in spacex, change.org, lendingclub in Silicon Valley
Completed year one of HBS MBA in boston
Started Connect in san francisco
29 FINISHED Losing 50 pounds (205 ! 155)
Started meditating daily
Connect passed 1 million users
Building icontact
Leading an amazing executive team
JOINING THE UN FOUNDATION GLOBAL ENTREPRENEUR COUNCIL
Co-chairing Tech for obama in 2012
ATTENDING HARVARD BUSINESS SCHOOL
ANYTHING IS POSSIBLE

NEARLY ANYTHING IS POSSIBLE


THAT YOU SET YOUR MIND TO
AND WORK HARD AT
FOR 10 years
An EXAMPLE

AS AN ExAMPLE HERE ARE


MY current GOALS
1 Year goals

GET CONNECT TO 2M MONTHLY ACTIVE USERS


RAISE SERIES A FOR CONNECT
GROW HIVE FROM 80 TO 300 GLOBAL MEMBERS
PUBLISH EVERYTHING I’VE LEARNED BY 30
MEDITATE OVER 300 TIMES (6X/WEEK)
VISIT ARGENTINA & ENGLAND
10 Year goals – by 2025

100m people use connect to stay connected


built hive into a global community of people working to
create a better world with 10 Profitable locations
traveled to over 50 countries exploring perpsectives on
Human potential and spirituality
Published a book on creating a better Life, Company, & world
Built a relationship with an amazing life partner
Become an extraordinary father
LIFETIME GOALS

Live a joyous, happy, and fully alive life


Be an extraordinary partner and father
Create a profitable hive in 1000 cities
BUILD a global community of extraordinary people
working on creating a better world
Never limit your dreams

My friends.
Do not limit your dreams.
A quote

“Dream no small dreams


for they have no power to
move the hearts of men.”

- Johann Wolfgang von Goethe, German writer
Write down your goals

Here is a 12 step process


YOU Can use FOR WRITING DOWN
YOUR GOALs
Writing down your goals

You can do this 30 minute exercise


right Now Or put a time on your
calendar to
Come back to it
GOALS
EXERCISE
GOAL SETTING PROCESS

1 OPEN UP GOOGLE DOCS


2 CREATE HEADINGS For 1 YRs, 10 YRs, AND LIFETIME
3 THEN WRITE DOWN 5 TO 7 GOALS IN EACH CATEGORY
MAKE EVERYTHING FIT ON ONE PAGE
MAKE SURE ALL GOALS ARE MEASURABLE SO YOU’LL KNOW IF YOU GOT THERE OR NOT
GOAL SETTING PROCESS

4
PRINT OUT TWO COPIES
5
SIGN THEM
6
FRAME THEM
GOAL SETTING PROCESS

7 PUT ONE FRAME IN YOUR BEDRO0M


8 PUT ONE FRAME AT WORK
9 SHARE YOUR ONE-PAGER WITH A CLOSE FRIEND
GOAL SETTING PROCESS

10
DEC 26-31 CALCULATE RESULTS
11 GREEN = MADE IT
YELLOW = 50%+ there
RED = <50% there
12 UPDATE GOAL SHEET FOR THE NEXT YEAR
& REPRINT/RESIGN/PUT IN FRAME
MAKING YOUR GOALS AMBITIOUS ENOUGH

YOU SHOULD BE HITTING AROUND

66% OF YOUR GOALS


IF HIGHER, THEN
YOUR GOALS ARE NOT
AMBITIOUS ENOUGh
GOALS
Reflection
GOALS REFLECTION

WHEN WAS THE LAST TIME


YOU WROTE DOWN YOUR
GOALS?

CAN YOU FIND THEM?


GOALS REFLECTION

DO YOU THINK THE GOALS YOU SET


ARE USUALLY TOO AMBITIOUS?
OR NOT AMBITIOUS ENOUGH?
GOALS REFLECTION

WHAT IS THE MOST


AMBITIOUS GOAL
You’VE EVER SET?
DID you achieve it?
Why or why not?
Lessons from my 20s

PART I, Section 2

PURPOSE
A quote
“When you grow up you tend to get told the
world is the way it is and your life is just to
live your life inside the world. Try not to
bash into the walls too much. Try to have a
nice family, have fun, save a little money…

That's a very limited life. Life can be much
broader once you discover one simple fact…

Everything around you that you call life was
made up by people that were no smarter
than you and you can change it, you can
influence it. Once you learn that, you'll never
be the same again.”

- Steve Jobs
How to FIND YOUR PURPOSE
AVOIDING THE VORTEX OF MEDIOCRITY

MOST PEOPLE NEVER create THEIR


LIFE PURPOSE
Instead they get sucked into the
Dreaded vortex of passionless mediocrity
(Don’t let this happen to you)
CREATING YOUR LIFE PURPOSE

THERE ARE TWO TYPES OF PEOPLE

1. THOSE WHO LIVE WITH PURPOSE


2. THOSE WHO DO NOT
creating YOUR LIFE PURPOSE

THOSE WHO TAKE THE TIME TO CREATE


THEIR LIFE PURPOSE OFTEN ARE ABLE To
LIVE WITH EXTRAORDINARY ENERGY
AND MOTIVATION & OVERCOME CHALLENGES
Most could not dream of
A QUOTE

“Don’t ask what the world needs.


Ask what makes you come alive.
Because what the world needs is
People who have come alive.”
- HOWARD THURMAN!


LIFE HAS NO MEANING UNLESS…

LIFE HAS NO MEANING


UNLESS YOU CREATE THE MEANING
FOR YOURSELF
CREATING YOUR LIFE PURPOSE

SO let’s talk about Your

LIFE PURPOSE
DISCOVERING YOUR LIFE PURPOSE

IF YOU CAN GO THROUGH A PROCESS


TO CREATE YOUR PURPOSE
THEN YOU CAN ADD GREAT MEANING
AND MOTIVATIOn TO YOUR LIFE
Creating YOUR LIFE PURPOSE

Your purpose is not


Something you HAVE
Your purpose is
Something you CREATE
CREATING YOUR LIFE PURPOSE

Once you have a clear purpose


and goals for your life you can direct
your life rather than letting outside
factors determine your direction
DISCOVERING YOUR LIFE PURPOSE

TO MANY PEOPLE ARE WAITING to


“FIND” THEIR PURPOSE
WHEN IN FACT purpose is something
you CREATE
Standing strong with a clear purpose

You will be able to much more easily


withstand criticism and challenges
when you are internally clear on your
Specific purpose on this planet
LIVING A PURPOSe-DRIVEN LIFE

THE COMMON DENOMINATOR AMONG EVERY


SINGLE HIGHLY DRIVEN AND SUCCESSFUL
PERSON I HAVE EVER MET, REGARDLESS OF FIELD,
IS THAT THEY HAVE COMMITED THEIR GOALS TO
WRITING AND CREATED FOR THEMSELVES A

PURPOSE-DRIVEN LIFE
Your LIFE IS YOUR MESSAGE

YOUR LIFE IS YOUR


MESSAGE TO THE WORLD
MAKE SURE IT IS
INSPIRING
Living a Purpose-driven life

Living a purpose-driven
Life is important to me
Here’s what I’ve created
As My purpose
MY life purpose

Help CREATe An ABUNDANT, SUSTAINABle, and joyOUS WORLD FOR ALL PEOPLE

All people have access to All people can live on a All people can live
1 the six basic human needs
2 sustainable planet with
3 peaceful, mindful, and
clean energy joyous lives
Creating a Purpose-driven life

Everything I do is
Driven by this

Sense of purpose
MY LIFE PURPOSE

someday
ALL PEOPLE will
HAVE ACCESS TO the
SIX BASIC HUMAN NEEDS of
Food, water, shelter, medicine
Education and electricity
MY LIFE PURPOSE

Someday we will
LIVE IN A
SUSTAINABLE WORLD
POWERED BY RENEWABLE ENERGY
MY LIFE PURPOSE

Someday all
PEOPLE will be able
To LIVE PEACEFUl, MINDFUl
AND JOYOUS LIVES
your LIFE PURPOSE

The exercise on the following


Slides can help you
Create & refine
Your life purpose
your LIFE PURPOSE

You can do this 90 minute


Exercise right now or put a time
On your calendar to do it
Creating your
LIFE PURPOSE
How to FIND YOUR PURPOSE
EXERCISE: CREATE YOUR LIFE PURPOSE

LIFE PURPOSE EXERCISE Instructions:


1.  Print out this section so you can write in it with pen
2.  Use a timer to give yourself exactly 4 mins per question
3.  Write out the answers in the ovals
4.  At the end, you’ll bring it all together in a final one-page
worksheet that you can frame if you choose
5.  This exercise should take 90 minutes to complete
What do you really love doing? 4 min

When am I most in flow/in the zone? What excites me? What makes me come alive and be joyous?
What does THE WORLD need? 4 min

What does humanity and the world need to thrive? List as many things as you can think of.
HOW CAN I CREATE WHAT THE WORLD NEEDS WHILE DOING WHAT I LOVE? 4 min

What are all the things you could do in life that would serve humanity in a big way
and allow you to do what you love? Brainstorm below.
WHAT ARE MY PERSONAL FINANCIAL GOALS? 4 min

What do you want your annual income to be in 10 years? In 20?


What do you want to have saved up in investments and savings by age 65?
HOW CAN I GET PAID TO DO WHAT I LOVE? 4 min

What could you do in life that would serve humanity in a big way, allow you to do what you love, and create economic
value that allows you to reach and surpass your personal financial goals?
DESCRIBE HOW THE WORLD WILL BE DIFFERENT IN 2050 because of you 4 min

Close your eyes for 5 minutes and imagine all the little details of how our world will be different in 2050 because of you.
Then write what you see.
WHAT IS THE CHANGE YOU ARE COMMITED TO? 4 min

What is so compelling to you that you might be willing to dedicate your life to making it happen?
In other words, what might be your “life purpose.” Use the space to brainstorm.
WHAT IS THE CHANGE YOU ARE COMMITED TO? 4 min

See if you answer the above question as simply as possible so that a 10 year old would understand it.
Try to do it in fewer than 15 words (no pressure, this is just a draft). This could be considered your “life purpose.”
POSSIBLE METRICS OF SUCCESS 4 min

What are some metrics to track whether your life purpose is being realized in the world over the next 35 years? Make these metrics
specific and quantitative so it will be clear when you’ve achieved the impact you want to make in your life.

Examples: Global infant mortality < 1%; Global energy from renewables >95%; Carbon dioxide under 350
PPM; Homelessness in Oakland, CA down by 80%
HOW MIGHT YOU MAKE THIS HAPPEN? 4 min

What can you create/build/do during your life to help make this world that you dream of real? It’s okay
if you aren’t completely sure yet. Brainstorm ideas.
LIFETIME GOALS 4 min

Brainstorm some goals for the rest of your life that align with the impact you want to make. Think about areas of life like
health, travel, experiences, adventures, work, finances, relationships, and impact.
10 YEAR GOALS 4 min

Brainstorm some goals for the next ten years that align with the impact you want to make. Think about areas of life like
health, travel, experiences, adventures, work, finances, relationships, and impact.
ONE YEAR GOALS 4 min

Brainstorm some goals for the next year that align with the impact you want to make. Think about areas of life like health,
travel, experiences, adventures, work, finances, relationships, and impact.
90 DAY Action plan 4 min

What are the very first action steps you can take over the next 90 days to start realizing your vision? Who should
you reach out to? What should you look into? What habits do want to start and stop?
YOUR DESIRED WAY OF BEING 4 min

As you go about your journey in life, how do you want to be inside and come across to others?
What words do you want to define you?

Examples: Joyous, mindful, alive, focused, driven, ambitious, kind, compassionate, loving

HOW OTHERS WILL REMEMBER YOU 4 min

People will help you reach your goals if they can remember what you’re all about. If often hard to discern what the people you meet are up to
and who they need to be connected to. Make it simple for others you meet to remember what you’re up to by finishing the below sentence
and making sure those you meet know what you’re up to in the world.

I will be known in my community as the



_______________________ ____________________

person.

Examples: “I will be known in the world as the sustainable energy person”


“I will be known in the world as the women’s rights advocate”
“I will be known in the world as the global leaders convener”
NOW BRING IT ALL TOGETHER 15 min

Worksheet!Instruc.ons!
On the next page is a blank life plan form.

Give yourself some time to review and reflect on all your answers from the brainstorming
session. Then print out and fill in the life plan form with a pen or pencil. Feel free to adjust
your answers as you go, but don’t worry too much about getting it perfect.

Consider this form as just a draft. You can print out another one anytime.

There are no right answers and you can re-do your life plan as often as you want. I find just
having something written down helps people a lot. I actually recommend re-doing this
exercise at the end of each year.

I suggest framing the page after you’re done and putting it up in your office or bedroom.
Life Plan of ___________________________________
Life purpose

Metrics of success by 2050

How I’ll make It happen

My desired way of being

Lifetime goals 10 year goals

1 year goals 90 day action plan

I will be known in my community as the ______________________________ ______________________________ person.


Signed on _______________, _______ 20___ X______________________________________
EXERCISE: CREATING YOUR LIFE PURPOSE

As an example
Here is my current “life plan”
In the 1 page format
I update it about 1x per year
Example: Life Plan of Ryan Allis
Life purpose Building a movement that creates an abundant, sustainable, and joyous world for all people

Metrics of success by 2050: 1) All people have access to the 6 BHNs 2) 95% energy from renewable sources 3) 0 major conflicts globally as defined by the UCDP

How I’ll make It happen: 1) Build Connect into a global platform for connecting communities
2) Build Hive into a global community of extraordinary leaders who are creating a better world.

Desired way of being: Joyous, happy, fully alive

Lifetime goals 10 year goals

1.  Be an extraordinary partner and father 1.  10 million people use Connect each day to stay connected
2.  Catalyze a movement that creates an abundant, sustainable, and joyous world 2.  Grow Hive to 10 profitable global locations
3.  Create a Hive in 1000 cities around the world 3.  Train others to hold Hive gatherings
4.  Create the world’s most impactful network of global leaders 4.  Build a relationship with an amazing life partner
5.  Explore widely and be a lifelong learner 5.  Travel widely to explore perspectives on human society, spirituality, and human
6.  Live a joyous, happy, and fully alive life potential
6.  Publish a book on creating an extraordinary life, world, and company

1 Year Goals 90 Day Action Plan

1.  1 million people us Connect each day to stay connected 1.  Hold September 2014 Hive Global Leaders Program
2.  Publish a book about making a difference in the world for initial feedback 2.  Get Connect to 1,000,000 users
3.  Hold 4 Hive Global Leaders Programs in San Francisco 3.  Prepare Connect for Series A
4.  Visit South America for the first time 4.  Meditate daily
5.  Build habit of meditating 6x per week 5.  Travel with Nadia to England
6.  Deepen relationship with Nadia 6.  Publish Everything I Learned By 30 Presentation

I will be known in my community as the global leadership person.


Signed on _______________, _______ 20___ X______________________________________
EXERCISE: CREATING YOUR LIFE PURPOSE

Once you have it Share your life plan


With five friends & mentors
In the next 14 days
AND GET THEIR FEEDBACK AND INPUT
THEY MAY BE ABLE TO CONNECT YOU TO
PEOPLE WHO CAN HELP
EXERCISE: CREATING YOUR LIFE PURPOSE

When you meet people you should


be able to CLEARLY express
Your life purpose
in 15 WORDS or less WITH
AUTHENTIC EXCITEMENT IN A WAY THAT
moves people WHEN YOU TELL THEM
A quote

“Each of us must make the personal choice to be a hero or



not, to be committed to something bigger than ourselves or

not, to go beyond the way we “wound up being” and have

the purpose of our lives and our careers be about something

that makes a difference or not, in other words, to be a leader

or not.”
– Werner Erhard
Lessons from my 20s

PART I, Section 3

VISION
A POEM on life

“Short this life is, just one I’ve got, finite in tenure, whether I like it or not. Dead
is embracing fear, replacing dreams with ‘I cannot.’ Alive is taking a new step,
having a shot. I will do the impossible, I will change the world, I will give hope to
a despairing nation, I’ll give bread to a starving girl. I’ll break all the records, I’ll
do what’s never been done, I’ll give and know love, I’ll be a billionaire of fun.

What will you do with today, this hour, this minute? Will you fill with dull and
fear or will you live it? I will not tolerate any foe no matter weapon or munition,
especially if that foe is within me in the form of fear or lack of ambition. Short
this life is, just one I’ve got. Finite in tenure whether I like it or not. As sure as
the eagle I will fly, ’cos I choose, I choose to live until I die.”

- A.E. BALLAKISTEN
VISION

Great leaders
Have a clear purpose
And a clear vision of
the world they are

Working to create
VISION BOARds

let’s start by talking about

VISION Boards
VISION BOARds

When GOALs & DREAMS


BECOME VISUALIZED
THEY BECOME ONE BIG LEAP

CLOSER TO BECOMING
REAL
Vision board
exercise
VISION BOARDS

VISION BOARDS
ARE WHITE POSTER BOARDS
COVERED WITH CUT OUT IMAGES
OF WHAT YOU WANT TO
SEE IN YOUR FUTURE
AND THE WORLD’S FUTURE
MY 2009 VISION BOARD
A Friend’s 2014 Vision board
VISION BOARD CREATING PROCESS
SEARCH FOR & PRINT OUT AT LEAST 5 IMAGES IN EACH OF THE BELOW CATEGORIES

FAMILY CAREER
HEALTH FINANCIAL
EDUCATION QUOTES
TRAVEL VALUES
Adventure ART
VISION BOARD CREATION PROCESS

ONCE PRINTED & TORN OUT


CUT tO SIZE
THEN PASTE OR TAPE
ONTO YOUR VISION BOARD
THEN SHARE IT WITH A FRIEND
AND HANG IT IN YOUR BEDROOM
VISION BOARD REFLECTION

HOW LONG HAS IT BEEN


SINCE You’ve created a vision board?
DO YOU STILL HAVE IT?
VISION BOARD REFLECTION

WHAT ARE THE INSTANCES


IN YOUR LIFE IN WHICH
You’VE SEEN INTENTION

TURN INTO REALITY?


BUCKET LISTS

BUCKET LISTs
ALLOW YOU TO CAPTURE
YOUR DREAMS
THEY ARE another way to
CREATE YOUR FUTURE
BUCKET LISTS

YOU CAN CREATE THEM AS A LIST


OR EVEN BETTER
PUT THEM UP ON YOUR WALL WITH

POST-IT NOTES
BUCKET LISTS

YOU SHOULD UPDATE YOUR BUCKET LIST


ONCE PER YEAR
NEAR YOUR BIRTHDAY
OR THE LAST 5 DAYS OF THE YEAR
BUCKET LISTS

HERE’S MY LIFETIME
BUCKET LIST
MY BUCKET LIST

"  HELP create a JOYOUS, SUSTAINABlE, and ABUNDANT WORLD


"  Take CONNECT PUBLIC ON NASDAQ
"  BUILD AN INVESTMENT FUND THAT INVESTS in SOLVING MAJOR HUMAN
CHALLENGES
"  CREATE A GLOBAL COMMUNITY OF EXTRAORDINARY PEOPLE WORKING
TOWARD CREATING A BETTER WORLD
MY BUCKET LIST

" FINISH MY MBA FROM HBS


" WRITE A BOOK ON HOW TO LIVE A PASSIONATE, MINDFUl,
HEALTHY LIFE
" SOMEDAY WORK IN PUBLIC SERVICE
" SOMEDAY LIVE ON ANOTHER CONTINENT
MY BUCKET LIST

#  BUILD A COMPANY TO MORE THAN $1 Billion in SALES

#  CREATE OVER 1 million jobs

#  Visit 100 countries by age 50

#  CLIMB MT. KILIMANJARO AND REACH UHURU PEAK


MY BUCKET LIST

"  DRIVE on NEW ZEALAND’S HIGHWAY 6


"  DRIVE on THE CARRETERA AUSTRAL IN CHILE
"  HANG GILDE IN RIO DE JANEIRO
"  Attend The Clinton Global Initiative
MY BUCKET LIST

"  TRAVEL TO SPACE on VIRGIN GALACTIC


"  MEDITATE WITH DEEPAK CHOPRA
"  BE A GUEST ON THE DAILY SHOW
"  SEE A CIRQUE DU SOLEIL SHOW
MY BUCKET LIST

"  SPEAK IN FRONT OF 100,000 people


"  GIVE A TED TALK
"  ATTEND THE WORLD ECONOMIC FORUM
"  JOIN THE UN FOUNDATION BOARD OF DIRECTORS
MY BUCKET LIST

"  BE A HUSBAND WHO EMPOWERS MY WIFE TO ACHIEVE


HER WILDEST AND BOLDEST DREAMS
"  BE A FATHER WHO INSPIRES HIS CHILDREN
"  WATCH EVERY DISNEY AND PIXAr MOVIE WITH MY KIDS
RELATIONSHIP BUCKET LISTS

IF YOU ARE IN A RELATIONSHIP


TRY CREATING A BUCKET LIST
OF THINGS YOU WANT TO

DO TOGETHER
Nadia and my bucket List
Bucket list
exercise
CREATING YOUR BUCKET LIST

NOW, GO AHEAD
GRAB SOME POST-iT NOTES OR
OPEN A GOOGLE DOC
AND START MAKING
YOUR BUCKET LIST
CREATING YOUR BUCKET LIST

WRITE DOWN ALL THE


AMAZING EXPERIENCES
YOU WANT TO HAVE OVER
THE REST OF YOUR LIFE
AND DREAM BIG
BUCKET LISTS REFLECTION

WHAT IS THE MOST EXCITING THING


You’VE DONE IN THE

LAST YEAR?
BUCKET LISTS REFLECTION

WHAT IS THE MOST EXCITING THING


You’VE DONE IN THE

LAST 10 YEARs?
BUCKET LISTS REFLECTION

WHAT IS THE MOST MEANINGFUL THING


You’VE DONE IN THE

LAST YEAR?
BUCKET LISTS REFLECTION

WHAT IS THE MOST MEANINGFUL THING


You’VE DONE IN THE

LAST 10 YEARs?
BUCKET LISTS REFLECTION

WHAT ONE THING, iF YOU DID IT in your life


WOULD BE EXTREMELY MEANINGFUL

TO YOU?
Lessons from my 20s

PART I, Section 4

NETWORKS
PEOPLE

WHO YOU SURROUND


YOURSELF WITH
IS WHO YOU BECOME
PEOPLE

SURROUND YOURSELF ONLY


WITH SMART, COMPETENT

& POSITIVE PEOPLE


(Life is too short not to)
SELECTING YOUR FRIENDS CONCIOUSLY

YOUR FRIENDS
DETERMINE WHO
YOU BECOME
SELECTING YOUR FRIENDS CONCIOUSLY

YOU SHOULD
ONLY SPEND TIME WITH
FRIENDS WHO INSPIRE YOU
SELECTING YOUR FRIENDS CONCIOUSLY

IF YOUR FRIENDS Don’t


INSPIRE YOU THEN
FIND FRIENDS WHO DO!
BE INTENTIONAL ABOUT THE PEOPLE IN YOUR LIFE

DON’T LET CHANCE


DETERMINE WHO’S
IN YOUR LIFE
What carnegie knew

ANDREW CARNEGIE’s EPITAPH SAYS


“Here lies one who knew how to get around him men who

WERE CLEVERER THAN HIMSELF”


BE INTENTIONAL ABOUT THE PEOPLE IN YOUR LIFE

IT MIGHT TAKE 5 years


to completely change up
THE PEOPLE SURROUNDING YOU
BUT IT IS ABSOLUTELY
WORTH IT
What I LOOK FOR IN MY FRIENDS

Joy
Compassion
Intelligence
Passion
Purpose
Intentionally SEEK OUT AMAZING FRIENDS

Random Friends Chosen Friends

vs.

An ordinary life A high impact life


BE INTENTIONAL ABOUT THE PEOPLE IN YOUR LIFE

IF YOU Don’T LIVE IN An


INTELLECTUAL CENTER
CONSIDER A MOVE
TO AVOID MEDIOCRITY

TO AVOID BEING MEDIOCRE


YOU MUST SEEK OUT PEOPLE
WHO ARE NOT MEDIOCRE
AND HANG OUT WITH THEM
Your EDUCATIONAL NETWORK

YOUR UNDERGRAD & GRADUATE SCHOOLS


ARE CRITICALLY IMPORTANT NETWORKS
SO PREPARE WELL AND GO TO THE
ABSOLUTE BEST SCHOOLS YOU CAN GET INTO
WHILE AVOIDING GETTING INTO MOUNTAINS OF DEBT
Your EDUCATIONAL NETWORK
THESE schools have some
Of the best networks
So if you can, attend for undergrad,
Grad school, or take an exec program at
•  Harvard •  Penn •  OXFORD
•  Stanford •  Columbia •  CAMBRIDGE
•  MIT •  Yale •  LSE
•  PRINCETON •  BROWN •  uchicago
Your EDUCATIONAL NETWORK

KNOWLEDGE IS CRITICAL SO IF YOU CANNOT


GET INTO OR AFFORD THE BEST SCHOOLS
THEN STILL TAKE THE BEST COURSES FREE

On edx or COURSERA
Your WORK NETWORK

YOUR COMPANY IS
YOUR MOST IMPORTANT NETWORK
SO CHOOSE YOUR COMPANY
VERY CAREFULLY
OR BUILD YOUR OWN
Your WORK NETWORK

WHY DO PEOPLE SPEND


832 WEEKS IN SCHOOL
THEN SPEND <4 WeEKs
ATTEMPTING TO GET A JOB
BY BLIND RESUME BLASTING?
WHAT CHANGE WILL YOU WORK TOWARD?

IF YOU DON’T LIKE YOUR JOB


FIND AN ORGANIZATION WHose MISSION

YOU’rE PASSIONATE ABOUT


AND DO WHATEVER IT TAKES TO GET IN THERE
YOUR WORK NETWORK

ONLY GO TO WORK FOR A COMPANY


IF YOU DEEPLY BELIEVE IN THE
CHANGE THEY ARE TRYING TO
MAKE IN THE WORLD
YOUR WORK NETWORK

Don’t TAKE A JOB UNLESS


YOU’ll BE WORKING FOR SOMEONE
OF HIGH INTEGRITY WHO!
YOU WILL LEARN LOTS FROM
THE KEY NETWORKS TO LOOK INTO

HERE ARE SOME NETWORKS


PASSIONATE YOUNG PEOPLE
SHOULD GET INVOLVED WITH
THE KEY NETWORKS TO LOOK INTO

ASPEN INSTITUTE FELLOWS


EMPACT 100
ENTREPRENEURS’ ORGANIZATION
THE KEY NETWORKS TO LOOK INTO

FORTUNE BRAINSTORM
HIVE
KAIROS
THE KEY NETWORKS TO LOOK INTO

NEXUS YOUTH SUMMIT


RENAISSANCE WEEKEND
SANDBOX
SINGULARITY UNIVERSITY
THE KEY NETWORKS TO LOOK INTO

SKOLL WORLD FORUM


SOCIAL CAPITAL MARKETS
SOCIAL VENTURE NETWORK
THE KEY NETWORKS TO LOOK INTO

STARTINGBLOC
SUMMIT SERIES
TECH STARS
THE KEY NETWORKS TO LOOK INTO

TED
UNREASONABLE INSTITUTE
WEF YounG GLOBAL LEADERS
THE KEY NETWORKS TO LOOK INTO

WHITE HOUSE FELLOWS


Y COMBINATOR
YOUNG ENTREPRENEUR COUNCIL
YOUNG PRESIDENTs’ ORGANIZATION
Your weekly roundtable

TO BUILD A STRONG SUPPORT NETWORK


CREATE A WEEKLY
DINNER ROUNDTABLE OF YOUR
CLOSEST 8 FRIENDS
Try EVERY WEDNESDAY AT 8pm
Programs I highly recommend for building relationships
Summit holds an annual large event for top entrepreneurs, social entrepreneurs, and artists.
Holds frequent gatherings at Powder Mountain in Eden, Utah.

StartingBloc holds five-day Institutes in New York, Los Angeles, D.C., Boston, and Boulder for
individuals who want to make a difference in the world

The Hive Global Leaders Program is a weekend program in San Francisco that brings together a
community of extraordinary leaders and entrepreneurs focused on creating a better world.

I highly recommend both the Summer Graduate Studies Program (GSP) or the week-long Executive
Program (EP). Focuses on using science and technology to solve major human challenges.

Nexus holds an annual Global Youth Summit in New York City that brings together some of the top
entrepreneurs, social entrepreneurs, and philanthropists

Social Innovation Summit is a two-day conference held annually in New York and California that brings
together the leading minds of the social, government, and business sectors

SOCAP (short for Social Capital Markets) is one of the best conferences for bringing together people
Passionate about creating positive change in the world
EXERCISE: CREATING YOUR INNER CIRCLE

You can do the following


20 minute Exercise now
Or put a time on your calendar
To return to it
INNER CIRCLE
EXERCISE
EXERCISE: CREATING YOUR INNER CIRCLE

ON A SHEET OF PAPER LIST


YOUR TOP 20 FRIENDS
EXERCISE: CREATING YOUR INNER CIRCLE

NEXT, circle the names of THE 10


people WHO inspire you MOST
BASED ON WHAT THEY ARE DOING
WITH THEIR LIVES
EXERCISE: CREATING YOUR INNER CIRCLE

Now, create a new list of 10 people


You aren’t very close with

who inspire you


EXERCISE: CREATING YOUR INNER CIRCLE

Finally, combine the lists of 10 to create your

NEW INNER CIRCLE


EXERCISE: CREATING YOUR INNER CIRCLE

SPEND YOUR TIME


WITH inspiring PEOPLE WHO ARE

UP TO SOMETHING BIG
IN THE WORLD
that will help others
EXERCISE: CREATING YOUR INNER CIRCLE

IF YOU don’t know enough inspiring people


Who are up to something big in the world

Join the networks


Listed in the networks section
Of this presentation
Lessons from my 20s

PART I, Section 5

MENTORS
TWO OPTIONS: Choose Carefully
No Mentors Jedi Mentors

Random Friends Chosen Friends

You You

vs.

An ordinary life A high impact life


FINDING AMAZING Mentors

VERY VERY FEW PEOPLE


ACTUALLY HAVE
MENTORS
FINDING AMAZING Mentors

AND YET MENTORSHIP


IS CRUCIAL TO LIVING THE

LIFE YOU WANT


FINDING Mentors

WHO MENTORS YOU


DETERMINES WHO
YOU BECOME
FINDING Mentors

WHO MENTORS YOU


DETERMINES WHICH
NETWORKS YOU ACCESS
FINDING Mentors

WHO MENTORS YOU


DETERMINES WHERE IN LIFE
YOU WILL GO
FINDING Mentors

WHY DO PEOPLE SPEND


832 WEEKS IN SCHOOL
And 0 WEEKS SEEKING
AMAZING mentors?
FINDING Mentors

No really, WHY DO PEOPLE SPEND


16 years IN SCHOOL
And No time looking
For mentors?
FINDING Mentors

SO, HOW DO YOU FIND


AMAZING HIGH-INTEGRITY
MENTORS?
FINDING MENTORS WITHIN NETWORKS

ONE OF THE BEST WAYs


TO MEET AMAZING MENTORS
IS BY JOINING THE ORGANIZATIONS
LISTED IN THE NETWORKS SECTION
OF THIS PRESENTATION
KEEP EMAILS to potential mentors SHORT

the shorter your emails to very busy people are

The higher the chance


Of a reply
TRY EMAILS WITH JUST 1-2 sentences and you’ll be amazed at the reply rates
EXAMPLE EMAIL TO A potential MENTOR
WHAT MOST PEOPLE SEND: WHAT YOU SHOULD ACTUALLY SEND:

Sally--I’m also really passionate about [ex:


solar panel efficiency]. What do you [insert
short relevant question]?
Best,
Your Name

What a busy professional thinks who gets this: What a busy professional thinks who gets this:

“Don’t have enough time to reply to this. Maybe “I’m glad they respect my time. Will only take 30
I’ll get back to this later.” seconds to reply so might as well do it now.”
RESEARCH AMAZING PEOPLE

ANOTHER WAY IS TO USE THE INTERNET


TO FIND PEOPLE WHO
•  ARE BRILLIANT & CARING
•  ARE 10-20 YRS AHEAD OF YOU
•  SHARE SIMILAR PASSION
RESEARCH AMAZING PEOPLE

FIND 20 POTENTIAL MENTORS


WHO ARE “YOU”
IN 15 YEARS
CONVINCING SOMEONE TO MENTOR YOU

AND CONVINCE 2 of THEM


THAT you’RE WORTH
INVESTING TIME INTO
CONVINCING SOMEONE TO MENTOR YOU

IDEALLY GET INTRODUCED TO THEM


BY ONE OF THEIR
TRUSTED CONNECTIONS
GETTING IN TOUCH WITH MENTORS

GET IN TOUCH VIA TWITTER


EMAIL, LINKEDIn, or fedex
OR BY SHOWING UP AT THEIR
OFFICE IF NEEDED AND ASKING
TO SPEAK WITH THEM
GETTING IN TOUCH WITH MENTORS

SEND THEM A
BULKY FEDEX PACKAGE

IF YOU MUST
GETTING IN TOUCH WITH MENTORS

IMPORTANT PEOPLE
LIKE OPENING
FEDEX PACKAGES
MESsAGES BUSY PEOPLE RECEIVE MONTHLY
EMAILS: 5,000
TEXTS: 1,000
LETTERS: 500
Linkedin: 50
Twitter: 30

FEDEX: 10
USE TWITTER TO GET IN TOUCH WITH WELL KNOWN PEOPLE

IMPORTANT PEOPLE
ALSO LIKE
@Messages on Twitter
BE KINDLY PERSISTENT

MOST PEOPLE GIVE UP


AFTER SENDING 1 EMAIL
Don’T GIVE UP
This is your life we’re talking about here
BE KINDLY PERSISTENT

PURSUE THEM REPEATEDLY IN A KIND WAY


They will almost always respect your persistence
•  EXPLAIN YOUR PASSION FOR THE SAME THING
•  Explain the “why” behind what you do
•  Explain how you MAY BE ABLE TO HELP THEM
•  Be 100% authentic
BE KINDLY PERSISTENT

STAY AT IT FOR
6 Months
IF THAT’s
WHAT IT TAKES
BE KINDLY PERSISTENT

THESE ARE PEOPLE


WHO CAN CHANGE
CHANGE YOUR WHOLE LIFE
DO WHAT IT TAKES
START SLOW if needed with potential mentors

Most people will eventually


Agree to a coffee or lunch
But if not, ask to start with
1-2 quick Questions via email
AT YOUR FIRST MEETING WITH A MENTOR…

BE AUTHENTIC
BE SUPER INFORMED about them
BUILD TRUST
Then stay in touch every 8 weeks with quick emails
BUILDING THE RELATIONSHIP WITH A MENTOR

SEND VERY BRIEF QUESTIONS ON EMAIL EVERY COUPLE MONTHS

GO TO THE SAME EVENTS


DEVELOP THE RELATIONSHIP
BUILDING THE RELATIONSHIP WITH A MENTOR

SEND VERY BRIEF QUESTIONS ON EMAIL EVERY COUPLE MONTHS

GO TO THE SAME EVENTS


DEVELOP THE RELATIONSHIP
Three keys to achieving your dreams

1.  SURROUNd YOURSELF WITH THE RIGHT PEOPLE


2.  INVEST IN YOUR formal and informal
EDUCATION
3.  WORK FOR A COMPANY whose mission you are
deeply passionate about
Three keys to achieving your dreams

DO THESE THINGS
AND You’ll BE ON TRACK
TO ACHIEVE YOUR MOST

AMBITIOUS GOALS
Learning to be a jedi

JOIN NETWORKS of other inspiring people


LIVE A PURPOSE DRIVEN LIFE
SURROUND YOURSELF WITH
AMAZINGLY SMART & CARING
PEOPLE And YOU WILL BE ON
THE PATH TO BECOMING A JEDI
BE A PADAWAN like in star wars

Padawan (n.)
“An individual on a CONSCIOUS journey to become a jedi”

PADAWAN IS
SANSKRIT FOR “learner”
What IS A JEDI?
Jedi (n.)
“A highly competent, super-connected, and deeply
compassionate SOUL & SYSTEMS THINKER, working at the highest
levels of societal structuring, whose passion has been fully
unleashed toward achieving an identified deeply meaningful
mission that awakens them with extraordinary focus and
immense energy daily.”
The jedi checklist
#  Highly competent
#  Super-connected
#  Deeply compassionate
#  SYSTEMS THINKER
#  Working to IMPROVE THE WORLD
#  Identified meaningful mission
#  Passion unleashed on achieving mission
#  Extraordinary focus
#  Immense vibrant energy
FINDING A JEDI MENTOR

NOW YOU KNOW THE


TRUE MEANING OF
FINDING YOURSELF a
JEDI MASTER MENTOR
FINDING A JEDI MENTOR

Who’S YOUR JEDI MENTOR


YOUNG PADAWAN?
Wait, YOU Don’T hAVE ONE?
Don’t let this be the CASE
6 months from now
STAND ON THE SHOULDERS OF GIANTS

ONE CAN SEE MUCH FURTHER BY STANDING


ON THE SHOULDERS OF GIANTS
SO FIND MENTORS WHO Are
GIANTS iN THEIR FIELD
And stand on their shoulders
Lessons from my 20s

PART I, Section 6

HAPPINESS
THE GREAT ENGIMA OF LIFE

TO KNOW HAPPINESS
ONE MUST KNOW
SUFFERING
THE IMPORTANCE OF CRUCIBLE MOMENNTS

IN ORDER TO TRULY FEEL THE HEIGHTS OF

HAPPINESS
ONE MUST HAVE FELT the DEPTHS OF

SUFFERING
CHOOSING TO BE HAPPY

“A PERSON CAN MAKE HIMSELF HAPPY


OR MISERABLE regardless of what
IS HAPPENING OUTSIDE just by changing
THE CONTENTS OF CONCIOUSNESS”
- MIHALI Csikszentmihali!
OVERCOMING OBSTACLES

“THE ABILITY TO PERSERVERE


DESPITE OBSTACLES & SETBACKS
IS THE MOST IMPORTANT TRAIT
FOR SUCCEEDING IN LIFE.”
- MIHALI Csikszentmihali!
FORGING YOUR CHARACTER

THE MORE DIFFICULTIES


& CRUCIBLE MOMENTS
YOU HAVE FACED
THE STRONGER
YOUR RESOLVE WILL BE
FORGING YOUR CHARACTER

THE HOTTER THE TEMPERATURE


THE IRON IS FORGED IN
THE STRONGer THE STEEL
The element of struggle in life

SO DON’T
BE AFRAID
OF STRUGGLE
Don’t be afraid of struggle

OFTEN THE GREATEST INDIVIDUALS


ARE THOSE WHO HAVE
BEEN THROUGH THE MOST
My struggles

•  MY MOM’s death FROM BRAIN CANCER in 2012


•  CHRONIC NECK PAIN FROM A 2001 CAR CRASH
•  HELpING MY DAD THROUGH PROSTATE CANCER
•  Dealing with a 65 person layoff following the sale of icontact

We all go through really hard times.


It is our response to the crucible moments that can make us great.
FORGING YOUR CHARACTER

HAPPINESS in many
Cases is A CHOICE
FORGING YOUR CHARACTER

LEARN TO CONTROL
WHAT is IN YOUR THOUGHTS &
CONSCIOUSNESS
HAPPINESS

TRUE HAPPINESS
OCCURS WHEN
YOUR INHIBITIONS OF
REVEALING YOUR TRUE SELF
ARE EXTINCT!
HAPPINESS

TRUE HAPPINESS
OCCURS WHEN YOU CAN
FULLY EXPRESS YOURSELF
& BRING YOUR FULL PASSION
INTO YOUR DAILY WORK
HAPPINESS

TRUE HAPPINESS
OCCURS WHEN YOur
Daily work IS ACTUALLY THE
the greatest CONTRIBUTION
you can make TO HUMANITY
WITH THE GIFTS YOU HAVE
HAPPINESS

TRUE HAPPINESS
OCCURS WHEN
YOU ARE MAKING A
DIFFERENCE IN THE LIVES
OF OTHERS
HAPPINESS

TRUE HAPPINESS
OCCURS WHEN
YOU ARE MAKING A
DIFFERENCE IN THE LIVES
OF OTHERS
HAPPINESS

HAPPINESS
Comes from being
Completely present
And in flow in a
moment
HAPPINESS

THERE IS NEVER ANYTHING


ELSE OTHER THAN THIS

moment
THE PAST & THE FUTURE

Past PRESENT FUTURE

Most people spend Or thinking about


their mental energy the future
thinking about either
the past
FOCUS ON THE PRESENT

Past PRESENT FUTURE

Happiness comes when you focus


on enjoying the present moment
and don’t worry about what
happened in the past and whatever
may come in the future.
Your mindset affects your happiness

your mindset is your


how you interpret
What happens in your life
Your mindset affects your happiness

You can decide whether you want to


Live in an ordinary world
Full of stress & Suffering
Or an extraordinary world
Full of wonder and possibility
THE ORDINARY “DEFAULT” WORLD
fear

anxiety insecure frustration

scarcity disappointment upset


The
danger desperation limitation
Ordinary
World anger victimization cynicism

mistrust manipulation defensive

reason inaction greed

resignation
THE EXTRAORDINARY WORLD is created by a mindset shift
fun

happiness kindness empathy

caring self-expressed authenticity

The inventive compassionate unstoppable


Extraordinary
adventurous unreasonable creativity
World
acceptance possibility openness

laughter caring fearless

generous
LIVING WITH JOY

LIVING WITH JOYFULLNESS and ease


is a choice That you can make
Programs I highly recommend for personal growth
Includes the Landmark Forum, Advanced Course, and Self-Expression and Leadership Program
Available now in 24 countries.

Includes the Happiness Program and the Art of Silence Program. Now operating in 152 countries.

I highly recommend taking Inner Engineering program, available in both India and the USA. Also
available online at www.innerengineering.com though in-person is best.

A three-day summer camp 2 hours north of San Francisco in which you lock your phones/laptops
away and play joyfully like you’re a child again.

The Hive Global Leaders Program brings together a community of extraordinary leaders and
entrepreneurs focused on creating a better world. Help every few months in SF. I am the Chairman of Hive.

Burning Man is an annual event in the Nevada desert the week before Labor Day in late-August.
I’ve now been twice and I highly recommend everyone go.
Meditation exercise

You can do the following


10 minute Mindset exercise now
Or put a time on your calendar
To return to it
EXERCISE On
mindset
Exercise: Mindset shift

On a sheet of paper
Write down for 5 minutes
how your life would be
Different if you never worried
And were never anxious
Exercise: Mindset shift

On a sheet of paper
Write down for 5 minutes
All the things that are holding you
Back that you can just give up
And choose to put in the past
Lessons from my 20s

PART I, Section 7

health
HEALTH

At age 25
I WAS A STRESSED OUT
208 pound
East coast CEO
HEALTH

My mind often raced


I even had two anxiety
Attacks from the stress
HEALTH

Now At age 30
I AM A much calmer
158 pound
west coast CEO
HEALTH LEARNINGS

Between age 24 and 30 I…


-  Lost 50 pounds
-  Fixed BAD neck pain
-  Went from Anxious to calm
Here’s EXACTLY WHAT I DID…
THE TWO THINGS I DID

1.  Changed what I ate

2.  STARTED doing a 30 minute per


morning yoga and Breathing
home practice
WHAT YOU EAT IS WHO YOU BECOME

THE FOOD WE EAT


LITERALLY BECOMES US
As nutrients are
absorbed and used
CHANGING MY DIET MADE A HUGE IMPACT
What I’d OFTEN Eat in 2008 What I OFTEN Eat Today

Bread Chicken / Steak / Fish


Hot pockets Quinoa / Lentils / Beans / Tofu / Tempeh
Subs Eggs
Pasta Almonds
Pretzels Cut most of this stuff out! Kale / Brussels Sprouts / Broccoli / Avocado
Fries Sweet potatoes / carrots / CHIA Seeds
Mayonnaise BANANas / Berries
Beer/Wine/Soda Protein shakes
Coffee Water / Tea / Almond milk

(I was eating way too many carbs) (I cut out 80% of the carbs)
DIET MAKES THE DIFFERENCE

A COMBINATION OF
HIGH CALORIE & HIGH-SALT DIET
WITH LITTLE PHYSICAL ACTIVITY AND INCREASED OBESITY
GREATLY DECREASEs THE ABILITY OF THE BODY
TO CURE ITSELF FROM CANCEROUS CELLS
REDUCING YOUR RISK OF CANCER
78% of CANCER IS CAUSED BY
TOBACCO, DIET, SUNLight, and alcohol
4% 3%

7% Tobacco Diet
30%
10%
Sunlight Other
10%
Viruses Occupational

35% Alcohol
Don’t smoke

TOBACCO CAUSES
30% of CANCER CASES
AND CONTAIN 4000
HARMFUL CHEMICALs AND
TOXIC CARCINOGENS
MENTAL HEALTH

IN A FAST-mOVING ORGANIZATION
MENTAL HEALTH IS JUST AS
IMPORTANT AS PHYSICAL HEALTH
MENTAL HEALTH

Be sure you’re taking time


To eat well, sleep well
And get into nature
Away from your laptop and phone
MENTAL HEALTH

At least every 3 months


Do a complete digital detox
With no phones/laptops
For at least 72 hours
Lessons from my 20s

PART I, Section 8

MEDITATION
MEDITATION

I USED TO THINK
MEDITATION WAS
Complete bs
MEDITATION

I had no idea how to


Do it right
MEDITATION

I thought meditation
Meant just sitting there
MEDITATION

WHEN I LEARNED HOW TO


BREATHe PROPERLY DURING MEDITATION
EVERYTHING CHANGED
MEDITATION

MY MIND BECAME CLEAR


AND I WAS WAY MORE CALM
& EFFECTIVE AT WORK
MEDITATION

I took two 4 day programs on meditation


Both I’d highly HIGHLY recommend
1.  Art of living happiness program
2.  ISHA Foundation inner engineering course
MEDITATION

I took the 4 day


ISHA FOUNDATION INNER ENGINEERING COURSE
In coimbatore, INDIA IN January 2014
MEDITATION

I also took the 4 day


Art of living happiness program
In palo alto in March 2014
YOGA
THE BASIC YOGA TECHNIQUE “SUN SALUTATION” greatly reduced my neck pain

See http://bit.ly/sunsalutations
MEDITATION

I now do three “sun salutations”


Every morning and my neck pain is

85% better
MY CURRENT Morning 30 minute routine…

3 sun salutations 5 mins


Alternate nostril breathing 2 mins
Sudarshan kriya Breathing 15 mins
KEEPING EYES CLOSED 5 mins

You can learn these routines through the Art of


Living Happiness Program which is $395 and
available in many countries and cities
MEDITATION

When I meditate with my eyes cLOSED


I am able to see a deeply calming
Purple light
(Strange I know, but true)
MEDITATION

There are many good techniques


And I am only at the beginning
of the learning process
SILENT RETREATS

In June 2014 I did a 3 day


art of living silence course
I found that spending 3 days in silence
Was extremely beneficial to calming the mind
And made me way more productive at work
SILENT RETREATS

After the 3 days in silence


I found myself becoming naturally

More collaborative at work


SILENT RETREATS

Here are some of the most magnificent


Silent & ZEN retreats you can visit
Art of Silence - http://www.artofliving.org/art-silence-program
Vipassana - http://www.dhamma.org/
Green Gulch – http://www.sfzc.org/ggf/
Esalen - http://www.esalen.org/
Vendata Society - http://sfvedanta.org/retreat/
MEDITATION
THEse four BREATHING TECHNIQUEs have been very helpful to me
Here’s where you can learn a bit more…

Bhastrika - http://bit.ly/bhastrikademo
Three stage pranayama - http://bit.ly/3stagebreathing
Alternate nostril breathing - http://bit.ly/alternatenostrils
Rapid nostril breathing - http://bit.ly/rapidnostril
MEDITATION Programs I RECOMMEND

Includes the Happiness Take the Inner Engineering


Program and the Art of Silence program, available in both India
Program. Now operating in 152 and the USA. Also online at
countries. www.innerengineering.com though
in-person is best.
Meditation exercise

You can do the following 10 minute


Meditation exercise now
Or put a time on your calendar
To return to it
Meditation
exercise
EXERCISE: alternate nostril breathing

First watch the video on


Alternate nostril breathing (bit.Ly/alternatenostrils)

Now, sit on the ground cross legged


Follow the video instructions for 5 minutes
Afterward, make note of how your brain feels
Exercise: Sun salutation
Get on the floor and actually try to do 2 sun salutations

Video at http://bit.ly/sunsalutationvideo
Lessons from my 20s

PART I, Section 9

HABITS
A quote on habits

“Your beliefs become your thoughts,


Your thoughts become your words,
Your words become your actions,
Your actions become your habits,
Your habits become your values,
Your values become your destiny.”

Mahatma Gandhi
A QUOTE ON HABITS

“We are what we


repeatedly do.
Excellence, then, is not
an act, but a habit.”
ARISTOTLE
A QUOTE ON HABITS

“Our character is basically a


composite of our habits. Because
they are consistent, often
unconscious patterns, they
constantly, daily, express our
character.”
Stephen Covey
HABITS

WHAT YOU DO REPEATEDLY


CREATES YOUR LIFE
And your results
HABITS

THERE IS GREAT POWER in


HACKING YOUR

HABITS
HABITS

IF You’re not getting the


RESULTS YOU WANT IN LIFE
ADJUST YOUR HABITS
HABITS in my life I am cultivating
BE POSITIVE STAY IN TOUCH WITH my NETWORK
Always DO WHAT I SAY I’ll DO CONTINUALLY LEARN
UNDERCOMMIT / OVERDELIVER READ
BE TRANSPARENT WATCH EDUCATIONAL VIDEOS
GET TRACK OF TASKS EXERCISE
REVIEW GOALS ANNUALLY EAT HEALTHY FOODS
PLAN FOR THE FUTURE SPEND TIME IN NATURE
SEEK OUT AMAZING PEOPLE DAILY MEDITATION
IDENTIFY MENTORS COMMUNICATE OFTEN
Give hugs not handshakes Watch <30min/wk of tv
SHARE WHAT I LEARN WITH OTHERS SEEK TO UNDERSTAND FIRST
HABITS

WHAT ARE some NEW HABITS IN


YOUR LIFE THAT YOU
WANT TO ADD?
habits exercise

You can do the following 10 minute


habits exercise now
Or put a time on your calendar
To return to it
HABITS
Exercise
EXERCISE: HABITS

FIRst, Get a sheet of paper and


And write down all your HABITS

you want to stART


EXERCISE: HABITS

Now write down all


All the habits
you want to stOP
EXERCISE: HABITS

Now write down all


All the habits
you want to CONTINUE
EXERCISE: HABITS

Next, write down bullets of how


You’d be Be better off if you
IMPLEMENTED YOUR new habit system
EXERCISE: HABITS

NOW make a weekly plan to


ACTUALLY Implement the
HABITS IN YOUR LIFE THAT
CREATE THE RESULTS YOU WANT
EXERCISE: HABITS

FINALLY, open up your calendar


And put your new habits
ACTUALLY ON YOUR CALENDAR on REPEAT
Lessons from my 20s

PART I, Section 10

COMMUNICATION
HUMAN COMMUNICATION

WHEN YOU TALK


TO PEOPLE
LOOK THEM IN THE EYE
HUMAN COMMUNICATION

WHEN YOU GREET PEOPLE


BOUND UP TO THEM WITH
ENERGY & EXCITEMENT
HUMAN COMMUNICATION

WHEN YOU TALK


TO PEOPLE
SMILE
HUMAN COMMUNICATION

WHEN YOU TALK


TO PEOPLE
BE JOYOUS NOT STRESSED
HUMAN COMMUNICATION

ALWAYS LET
YOUR
PASSION SHINE THROUGH
HUMAN COMMUNICATION

RESTATE THE OTHER


PERSON’S Point
BEFORE YOU ADD
YOUR OWN
HUMAN COMMUNICATION

USE THIS FORMULA


WHEN TALKING WITH PEOPLE..
RESTATE THEIR POINT
add ONLY THEN…
ADD YOUR OWN POINT
HUMAN COMMUNICATION

NEVER NEVER NEVER


START A SENTENCE WITH

BUT
HUMAN COMMUNICATION

INSTEAD OF THE WORD


BUT USE THE WORD

AND
HUMAN COMMUNICATION

AVOID SAYING
THE WORDS

UM and UH (Instead just pause)


HUMAN COMMUNICATION

AVOID THE INFORMAL


uSAGE OF THE WORD

LIKE
(Ex: “She was like oh my gosh I can’t believe she did that” or “I walked like 30 miles”
DIFFICULT CONVERSATIONS

ANYTIME YOU HAVE


SOMETHING DIFFICULT
TO COMMUNICATE
DO IT IN PERSON
(Or at worst, on Google Hangout or Skype)
KEEP EMAILS SHORT

AVOID SENDING
EMAILS WITH MORE THAN
5 sentences
KEEP EMAILS SHORT

AVOID SENDING
EMAILS WITH
EMOTIONAL CONTENT
GIVING PRESENTATIONS

FOR PRESENTATIONS
you will give to others
NEVER HAVE MORE than
15 WORDS ON A SLIDE
GIVING PRESENTATIONS

IDEALLY USE 1 powerful


PICTURE
AND NO MORE THAN
10 WORDS
< >
GIVING PRESENTATIONS

OR SOMETIMES
NO WORDS
AT ALL
< >
Lessons from my 20s

PART I, Section 11

MONEY
The middle class versus the rich

“Individuals in the middle class accumulate more debt as they


become more successful. A pay raise qualifies them to borrow
more money from the bank so they can buy personal items like
bigger cars, vacation homes, boats, and motor homes. Their
wage income comes in and is spent on current expenses and
only then on paying off their personal debt. So as their income
increases, so does their personal debt. This is what we call the
rat race.”
- Robert kiyosaki
The rich have their money work for them

“The rich have their assets work for them.


They have gained control over their
expenses (by saving and investing money
each month) and focus on acquiring or
building assets. Their businesses pay more
of their expenses, and they have few, if
any, personal liabilities.”
- Robert Kiyosaki
WHICH FINANCIAL PATH WILL YOU TAKE?
THERE ARE TWO SEGMENTS OF PEOPLE IN THE WORLD

1 PEOPLE WHO PAY INTEREST ON LOANS AND WORK FOR COMPANIES

2 PEOPLE WHO RECEIVE INTEREST ON LOANS and own PARTS Of companies

WHICH SEGMENT DO YOU WANT TO BE IN?


THE TOPIC OF MONEY

MONEY IS A REALLY
IMPORTANT TOPIC
TO UNDERSTAND
THE TOPIC OF MONEY

MONEY IS SIMPLY
A STORE OF VALUE
WHICH ENABLES
TWO PARTIES TO EXCHANGE
EVEN IF they cannot barter
YOUR NET WORTH

INCLUDING ALL YOUR SAVINGS, INVESTMENTs


AND DEBT WHAT IS YOUR

NET WORTH RIGHT NOW?


AVERAGE & MEDIAN NET WORTH IN THE USA

THE AVERAGE NET WORTH of AN AMERICAN IS

$301,140
Source: Credit Suiss Global Wealth Report, 2013
AVERAGE & MEDIAN NET WORTH IN USA

BUT THE MEDIAn Net worth of AN AMERICAN IS

$44,911
Source: Credit Suiss Global Wealth Report, 2013
ARE YOU AHEAD OR BEHIND?
Let’s say your goal IS TO have a net worth of $1M by Age 60
IF YOU start at age 20 and progress linearly you’d need to be at $250k by 30
1000000
900000
800000
700000
600000
500000
400000
300000
200000
100000
0
20 25 30 35 40 45 50 55 60
Money compounds
Fortunately, money compounds, so you actually only need to
Be at $70,000 in net worth by age 30 to be on track for $1M in net worth by 60
1000000
900000
800000
700000
600000
500000
400000
300000
200000
100000
0
20 25 30 35 40 45 50 55 60

Assumes you save $5,000 per year starting at age 20, and you invest iat a 7% after inflation return
3 Key Lessons about Money

HERE ARE THREE


KEY LESSONS
ABOUT MONEY
3 Lessons about Money

1
SPEND LESS MONEY
THAN YOU EARN
EVERY MONTH
3 Lessons about Money

2
NEVER GO INTO DEBT
FOR SOMETHING THAT
YOU DO NOT NEED
3 Lessons about Money

3
SAVE EARLY IN LIFE
AS the law of compound
INTEREST HELPS A LOT

OVER TIME
EASY IN THEORY

THESE 3 LESSONS may sound extremely basic


YET still so many people
Go into debt for things they don’t need
and frequently spend
more than they earn
THE 6 STEPS TO BUILDING WEALTH

HERE ARE SIX STEPS


TO BUILDING

WEALTH
THE 6 STEPS TO BUILDING WEALTH

These 6 steps are easy to


Understand but Most people

Don’t do them
THE 6 STEPS TO BUILDING WEALTH

1
Calculate how much you
Earn after taxes each month
THE 6 STEPS TO BUILDING WEALTH
2
ENSURE YOUR ARE SPENDING LESS
Than you earn after taxes
Each month
Monthly income after tax Monthly spending

$4000 $3000 !
THE 6 STEPS TO BUILDING WEALTH

3
PAY OFF all Your DEBT
Starting with the highest
Interest rates first
THE 6 STEPS TO BUILDING WEALTH

4
Start Saving
$1,000 each month
(This step, in practice, is often the hardest, yet the most important)
THE 6 STEPS TO BUILDING WEALTH

5
After building up 3 months
Of salary in your savings
Account, start investing
Start investing $1000 per Do this consistently for
month as early as you can in 30 years and you’ll have
life $1 million
THE 6 STEPS TO BUILDING WEALTH
6 THEN USE THE CASH FLOW FROM YOUR
INVESTMENTS TO MAKE MORE INVESTMENTS
The six steps to building wealth
1.  Calculate your after tax income
2.  Be sure you’re SPENDING LESS THAN YOU MAKE
3.  PAY OFF your DEBT
4.  BUILD UP 3 months of SAVINGS
5.  Start investing
6.  THEN Re-INVEST THE RETURNS
Becoming FINANCIALLY INDEPENDENT

THERE ARE TWO MAIN WAYS TO BECOME


A MILLIONAIRE
1) Build a business
2) Or Save & Invest wisely for 30 years
Becoming FINANCIALLY INDEPENDENT

If entrepreneurship isn’t for you…


Here’s how to become a millionaire Automatically

1.  Save $1000 per month


2.  Invest it at a 7% after inflation
return
3.  Don’t take any out for 30 years
WHAT You’LL HAVE IF YOU SAVE & INVEST

Monthly
20 Yrs 25 Yrs 30 Yrs 35 Yrs 40 Yrs 45 Yrs 50 Yrs
SAVINGS

$1,000 $0.52M $0.81M $1.22M $1.81M $2.64M $3.82M $5.50M

$2,000 $1.05M $1.63M $2.45M $3.63M $5.29M $7.65M $10.99M

$3,000 $1.57M $2.44M $3.68M $5.44M $7.94M $11.47M $16.49M

$4,000 $2.09M $3.26M $4.91M $7.25M $10.58M $15.29M $21.97M

ASSUMES 7% AFTER INFLATION ANNUAL RETURN FROM INVESTING | ADD ADDITIONAL TIME TO PAY OFF ANY CURRENT DEBT
My journey to financial independence

I was born in 1984. I grew up in a middle class


American family. My dad was an epsicopalian
minister from pennsylvania. My mom was a
part-time social worker from England. Our
family earned about $40,000 per year.
My journey to financial independence

I was very fortunate to


Have two parents who
Supported Me and encouraged
me to Follow my dreams
My journey to financial independence

I started my first business at 11


Helping senior citizens in florida
use the internet for $5/hour
My journey to financial independence

I started getting into


Web development
In 1996 when I was 12
My journey to financial independence

At16 (back In 2000)


I was a NORMAL TEENAGER GROWING UP IN
bradenton florida earning AROUND
$3000/yr AS A PART TIME WEB developer
My journey to financial independence

Then I read two books that


changed my life and opened
My eyes to a whole new world
1. Rich Dad Poor Dad
2. Think And Grow Rich
My journey to financial independence

After reading these two books at 16


I set an ambitious goal to build a
Company to $1 Million in sales by

Age 21
My journey to financial independence

From age 16 to 21
I worked extremely hard
To make this goal real
My journey to financial independence

At 18 While in college at unc I


started Icontact and by 2005
We reached $1 Million in sales
When I was 21
My journey to financial independence

We then raised venture capital


And hired a strong
Executive team and grew to
$50M in annual sales
My journey to financial independence
in 2012 we sold icontact for $170 million
to a software company called vocus.
I was 27. I decided to go back to school at
harvard business school for an mba while
working on a new start-up called
connect
Anything is possible

I found that anything was possible if I:


•  set my mind to it
•  worked really hard to make it happen
•  surrounded myself with positive people
who helped me Grow & Learn
•  Cared about customers & Employees
Creating your financial plan

So that was my story


over the last 18 years
Now let’s talk about

You
Creating your financial plan

18 years from now, your financial


Situation will be a function of the plan
you put in place And the actions you take

today
Creating your financial plan

Here’s how to create a basic

Financial plan
Financial plan exercise

You can do the following 30 minute


Financial plan exercise now
Or put a time on your calendar
To return to it
FINANCIAL
PLAN EXERCISE
EXERCISE: Creating a basic financial plan
This exercise should take about 30 minutes. You can do it now or come back to it.

1.  Calculate your current monthly income after taxes


2.  Calculate your current total monthly expenses
3.  Add up your savings, investments, and other assets
4.  Calculate the total amount of debt you have
5.  Set a goal for your monthly income and expenses 2 years
from now
6.  Use these figures to fill out the sheet on the next page
Exercise: Creating A BASIC Financial Plan
Financial Plan of __________
Assets Debts Net Worth

Present Monthly
Income Expenses Cashflow

24 Months From Now Monthly Goal


Income Expenses Cashflow

Signed X__________________________ this ____ day of _____ 20_____


Creating your financial plan

FiLLING out your one-page


Financial plan Will be helpful
As we move into the next section
On investing
Lessons from my 20s

PART I, Section 12

INVESTING
LEARNING HOW TO INVEST

saving MONEY is the first step


Learning how to invest IT is the second
Stocks and bonds

THERE ARE TWO TYPES


OF INVEStMENTS
STOCKs & BONds
BONDS

BONDS are loans


to other organizations
IN WHICH YOU EARN A FIXED
INTEREST RATE RETURN
BONDS

BONDS usally pay annual interest


Between 0.25% and 15%
BONDS

THE RISKIER THE BOND


THE HIGHER THE INTEREST RATE PAID
STOCKS

STOCK is Partial
OWNERSHIP of a company
Which entitles the owner
To part of the profits of a company
STOCKS

WITH STOCKS YOU MAKE


MONEY WHEN THE VALUE
OF THE COMPANY GOES UP
STOCKS

THE VALUE OF A COMPANY


GOES UP WHEN THE
Company’s profits go up
(or are expected to go up)
STOCKS

THE VALUE OF A COMPANY


GOES down WHEN THE
Company’s profits go Down
(or are expected to go down)
DIFFERENT TYPES OF STOCKS AND BONDS

STOCKS BONDS
Mutual Funds Savings Accounts
Index Funds/ETFS Treasury Bonds
Small Cap Stocks Municipal Bonds
MID CAP STOCKS Corporate Bonds
LARGE CAP STOCKS P2p LENDING
VALUE STOCKS
GROWTH STOCKS
Emerging Market Stocks
options
VENTURE capital FUNDS
PRIVATE COMPANIES
HOW TO BECOME A MILLIONAIRE in 30 years

HERE IS A SIMPLIFIED EXAMPLE


OF HOW YOU CAN HAVE
$1M in 30 years
HOW TO BECOME A MILLIONAIRE in 30 years

To have $1m in 30 years


SAVE $1k every month

AND INVEST IT
Assumes a 7% per year after inflation annual return
HOW TO BECOME A MILLIONAIRE in 20 years

To have $1m in 20 years


SAVE $2k every month

AND INVEST IT
Assumes a 7% per year after inflation annual return
AVERAGE INVESTMENT RETURNS

HERE IS A TABLE OF
AVERAGE YEARLY RETURNS BY

TYPE OF INVESTMENT
AVERAGE INVESTMENT RETURNS
Investment Type Approx. Avg. Annual Return After Inflation (2.8%)
Savings Accounts 0.10% -2.70%
Certificates of Deposit 1.10% -1.70%
Treasury Bonds 2.50% -0.30%
Municipal Bonds 4.50% 1.70%
Corporate Bonds 6% 3.20%
LendingClub A-d Notes 8.30% 5.50%
Rental Real Estate 8.60% 5.80%
Dow Jones Index Fund 11.10% 8.30%
S&P 500 Index Fund 11.30% 8.50%
LendingClub E-F Notes 11.70% 8.90%

S&P 500 and DJIA is the CAGR for the last 80 years from 1933 until 2013
AVERAGE INVESTMENT RETURNS

PAST RETURNS
Aren’t ensured in the future
But they are STILL HELPFUL to see
LENDINGCLUB

ONE INTERESTING
INVESTMENT OPTION IS
LENDINGCLUB
LENDINGCLUB

Since 2007 LENDINGCLUB notes HAVE


HAD an annual average return of

5.5% AFTER INFLATION AND


DEFAULTS
LENDINGCLUB
And Since 2007 LENDINGCLUB “E” and “F” notes
HAVE HAD an annual average return of

8.9% AFTER INFLATION AND


DEFAULTS

Past performance is definitely no guarantee of future performance, yet


8.9% after weathering a big recession in 2008-2009 is pretty good.
MARKET INDEX FUNDS
The DJIA and S&P 500 Index funds
HAVE HAD an annual average return
After inflation of

8.4%
Since 1933
Look up these symbols:
Dow Jones Index Fund – DIA
S&P 500 Index Fund - SPY
INVESTING IN STOCKS

As a rule of thumb
Companies are usually worth
BETWEEN 5x and 20x their

ANNUAL NET PROFITS


INVESTING IN STOCKS

Net profits is another word for

Earnings
INVESTING IN STOCKS

The multiple of EARNINGS


A company is worth Is called a

PE Ratio
INVESTING IN STOCKS

P/E RATIO is:


PRICE
EARNINGS
INVESTING IN STOCKS
Here’s the July 2014 p/e Ratio of A few well known companies

COMPANY PRICE TO EARNINGS RATIO


IBM 12.30
WELLS FARGO 12.74
APPLE 15.77
MICROSOFT 16.91
BANK OF AMERICA 25.25
GOOGLE 29.86
FACEBOOK 97.52
INVESTING IN STOCKS

THE BEST MEASURE OF


WHETHER A STOCK MARKET
IS OVERVALUED
Is the SHILLER PE RATIO
See multpl.com/shiller-pe/

INVESTING IN STOCKS

THE AVERAGE ALL TIME SHILLER p/E RATIO IS

16.55
INVESTING IN STOCKS

This means that on average since 1890


The average company has been valued at
16.55 times it’s an annual net profits
INVESTING IN STOCKS

AS OF august 2014
the US STOCK market is getting overvalued
THE CURRENT SHILLER PE RATIO IS

25.54
THE STOCK MARKET IS GETTING OVERVALUED AGAIN
Time to Get Ready for an Historic Crash

Time to Sell

Time to Buy

Shiller PE Ratio for the S&P 500 1871-2014, as of August 9, 2014


INVESTING IN STOCKS

WHEN PE RATIOs ARE


over 25
WATCH OUT for a crash
INVESTING IN STOCKS

WHEN PE RATIOs ARE


Under 15
It’s time to LOOK AT INVESTING!
ANGEL INVESTING

ANGEL INVESTING
IS PURCHASING OWNERSHIP
In EARLY STAGE
PRIVATE COMPANIES
ANGEL INVESTING

CHECK Out
ANGELLIST & FUNDABLE
TO SEE EARLY STAGE COMPANIES

YOU CAN INVEST IN


ANGEL INVESTING

ANGEL investing
Is highly risky
But if you invest in the right firms

Highly lucrative
MY portfolio
Since 2009 I have invested In THESE PRIVATE COMPANIES
MY portfolio

I focus on investing in companies


Which are solving
Major human challenges
That when solved will
Make the world a better place
What “going public” means

“Going public” means selling part of a


company to investors via a public market
like the New York Stock exchange or the
nasdaq
What “going public” means

Companies go public in order to


1.  Raise capital for growth
2.  Create a market for their shares
3.  Enable employees to gain liquidity for their
options
How to properly value a company

THE BEST WAY TO DETERMINE THE


TRUE VALUE OF A PUBLIC COMPANY IS
TO CREATE A DISCOUNTED CASH FLOW (DCF)
FORECAST
How Buffet invests

BUFFET’s investing method


INVOLVES UNDERSTANDING A FIRM WELL
CALCULATING WHAT HE BELIEVEs
THE fiRM IS ACTUALLY WORTH using dcf
THEN PURCHASING SHARES WHEN
Enough of a margin of safety exists
How Buffet works

WARREN BUFFET IN ESSENCE


CREATES DCF MODELS ON EACH COMPANY
HE INVESTS IN AND ENSURES THERE’S A
BIG MARGIN OF SAFETy BETWEEN WHAT HE
THINKS THE FIRM IS WORTH AND WHAT
THE MARKET THINKS THE FIRM IS WORTH
BECOMING A VALUe-ORIENTED INVESTOR

1.  Avoid stocks with pe ratios over 25, unless they have extremely high
REVENUE growth (over 50% year)
2.  Learn how to create a dcf valuation
3.  Have the discipline to create a DCF valuation for every public
company investment you make
4.  invest only when you have a 30% margin of safety between what your
DCF model says the company is worth and what the market sayS
Lessons from my 20s

PART I, Section 13

LOVE
WHAT LOVE MEANS TO ME

Laughter
Optimism
&

Vibrant
Energy
SIX STEPS TO BUILDING A GREAT RELATIONSHIP
TELL THE TRUTH
BUILD TRUST
BE VULNERABLE
GIVE TIME
FOLLOW THROUGH
& SHOW CARE WITH YOUR ACTIONS
SIX STEPS TO BUILDING A GREAT RELATIONSHIP

A GREAT WOMAN CAN


MAKE A HUGE DIFFERENCE
TO A GREAT MAN
SIX STEPS TO BUILDING A GREAT RELATIONSHIP

A GREAT MAN CAN


MAKE A HUGE DIFFERENCE
TO A GREAT WOMAN
SIX STEPS TO BUILDING A GREAT RELATIONSHIP

A GREAT pARTNER CAN


MAKE A HUGE DIFFERENCE
FOR ANYONE
The partner you choose makes a huge impact on your life
THE PARTNER YOU CHOOSE
TO BUILD A LIFE WITH
MAKES A HUGE IMPACT
ON YOUR ABILITY TO REACH YOUR POTENTIAL
LIVE WITH JOY AND POSiTIVITY
AND TRULY CHANGE THE WORLD
LOVING YOURSELF FIRST

BEFORE you CAN FIND


SOMEONE ELSE TO FALL IN LOVE WITH You
YOU MUST LOVE YOURSELF FIRST
BE AMAZING BEFORE YOU LOOK

BECAUSE TO FIND AN AMAZING PARTNER


YOU YOURSELF MUST FIRST BE

AMAZING
FOLLOW YOUR DREAMS FIRST

TO FIND A PARTNER WHO IS


FOLLOWING THEIR DREAMS
You must first be following

YOUR DREAMs
LIVE WITH PASSION FIRST

TO FIND A PARTNER WHO IS


LIVING PASSIONATEly
You Yourself must first be

LIVING PASSIONATELY
TO FIND A JEDI YOU MUST BECOME A JEDI

TO FIND A PARTNER WHO IS


ON THE PATH TO BEING A JEDI
You Yourself must first be

ON THE PATH
Yep, MARRY A JEDI

WHEN TWO JEDIS marry


ALL KINDS OF CRAZY GOOD SHIT
HAPPENS in the universe
HOW TO WIN A HEART

Here’s what I’ve


LEARNED SO FAR ABOUt
WINNING THE HEART
HOW TO WIN A HEART

Don’t lead
Your partner on
(Be open and transparent about your intentions with the relationship)
HOW TO WIN A HEART

FOLLOW THE
GOLDEN RULE
IN ALL RELATIONSHIPS
HOW TO WIN A HEART

BE PLAYFUL
And let the little kid
Inside out!
HOW TO WIN A HEART

PUSH YOUR PARTNER


TO GET BETTER AND
BECOME THE BEST
VERSION OF THEMSELVES
HOW TO WIN Ryan’s HEART

GIVE LOTS OF
NECK MASSAGES
HOW TO WIN A HEART

NEVER EVER
TAKE THEM
FOR GRANTED
HOW TO WIN A HEART

NEVER STOP
BUYING THEM
FLOWERS
HOW TO WIN A HEART

A LONG PARTNERSHIP
REQUIRES MUTUAL RESPECT
AND SHARED GOALS
Lessons from my 20s

PART I, Section 14

VALUES
GLOBAL VALUES SYSTEMS
ACROSS MANY religion or spiritual traditions
a key guideline is to be able to care for others
Let’s look at a few global values systems
Origin Concept Name Description
Judaism Tikkun Olam The concept of repairing the world

Sanskrit Ahimsa A philosophy of do no harm

Confucian Li A set of norms that teaches brotherliness and community

Islamic Ummah A perspective on a supranational community

Christian Golden Rule A practice of treating others as you want to be treated

South Africa Ubuntu A spirit of cooperation between people of all colors and creeds
My CORE VALUE

HERE IS MY CORE VALUE…


DO UNTO OTHERS AS YOU’D
HAVE DONE UNTO YOURSELF
EXPAND YOUR EMPATHY CIRCLE AND CARE FOR ALL PEOPLE

Species&

Gender&

Religion&

Na1on&

Community&

Family&

You&
You&
What is it to be human?

“To be human is to have the ability to transcend


our egocentric preconditioning and care so
DEEPLY FOR OUR CHILDREn, PARTNERS, FRIENDS
or even strangers that we WOULD PUT THEIR
INTEREST ABOVE OUR OWN NO MATTER WHAT IT
MIGHT COST US PERSONALLY “
- RAY KURZWEIL!
My VALUES

HERE ARE THE 50 VALUES


I HOLD DEARLY AND DO
MY BEST TO
ALWAYS LIVE BY
ACCEPTANCE

I shall recognize the


Uniqueness and humanity
OF THOSE WHO DIFFER
FROM MYSELF
ACTION

THOUGH DELIBERATE &


CAREFUL I SHALL HAVE
A BIAS TOWARD
ACTION
ADAPTATION

I shall MAINTAIN in A STATE


ABLE TO FLOW, LEARN & MODIFY
MYSELF TO FIT NEW
SURROUNDINGS OR OCCURENCES
ANALYSIS

I shall analyze what I do and


DO NOT DO AND ATTEMPT TO DERIVE
INHERENT LAWS, AXIOMS, TENANTS
AND GUIDEPOSTS BASED ON THE EFFECTS
OF MY ACTIONS & INACTIONS
BEST EFFORT

I shall PUT FORTH MY FULL


AND BEST EFFORT WITHIN THE
BOUNDARIES OF PROPER PHYSICAL
& MENTAL HEALTH
CHALLENGE

I shall often challenge MYSELF


& STEP OUTSIDE MY COMFORT ZONE
SO AS TO REACH
WORTHY GOALS
COLLABORATION

I shall WORK COLLABORATIVELY


WITH OTHERS WHO ARE BETTER THAN
I AM AT WHAT THEY DO
COMMITMENT

I shall UPHOLD MY
COMMITMENTS AND
UNDER-PROMISe AND
OVER-DELIVER
COMMUNICATION

I shall MAKE IT A PRIORITY


TO LEARN TO COMMUNICATE
EXTREMELY WELL
WITH OTHERS
CONFIDENCE

I shall ALWAYS BE
CONFIDENT & OPTIMISTIC AND
SET MY GOALS HIGH
CONTENTMENT

I shall BE ONLY
WHERE I AM AND SAVOR
EVERYTHING ABOUT THAT
MOMENT
DETAIl

I shall NOT DALLY


NEEDLESSLY IN DETAIl
BUT EXAMINE TO THE FULL
EXTENT NEEDED
ENVIRONMENTAL CONCIOUSNESS

THOUGH I SHALL PROMOTE THE MASTERY OF NATURE


FOR THE BETTERMENT OF LIVING CONDITIONS OF HUMANS
I SHALL NEVER FORGET THAT THE EARTH SHOULD
BE TREATED AS PRECIOUS AND THAT SUSTAINABILITY
MUST BE REQUIRED IF WE ARE TO SURVIVE AS A SPECIES
FOCUS

I shall RECOGNIZE THAT


WHILE I CAN DO ANYTHING
I CAN’T DO
EVERYTHING
FORGIVENESS

I shall FORGIVE THOSe


WHO HAVE MENDED WAYS
INCLUDING MYSELF
GENEROSITY

I shall GIVE TO OTHERS


HOWEVER I AM
BEST AND MOST ABLE
HEALTH

I shall maintain my health and EAT


sleep & Exercise IN SUCH A MANNER AS
TO MAINTAIN A HIGH LEVEL OF ENERGY
I SHALL ELIMINATE NEAGATIVE ENERGY AS
MY BODY IS A TEMPLE THAT
HOUSES MY
SPIRIT
HONESTY

I shall BE HONEST AND


FORTHRIGHT IN ALL
REPRESENTATIONS of
And Deliberations with
MYSELF
HUMILITY

I shall NOT BE AFRAID TO


ASK FOR HELP AND NOT
ASSUME MYSELF
ABOVE ANOTHER
INDUSTRY

I shall LOSE NO TIME AND ALWAYS


BE EMPLOYED IN SOMETHING USEFUl
REFLECTION AND RELAXATION SHALL
BE INCLUDED IN THE DEFINITION OF

USEFUL
INTEGRITY

I SHALL ACT WITH INTEGRITY


AND IN ALIGNMENT WITH
WHAT I SAY I WILL DO
JUSTICE

I shall WRONG
NO oNE
KINDNESS

I SHALL LIVE A LIFE OF


KINDNESS & COMPASSION.
THERE’S NO REASON NOT TO.
LEARNING

I shall be continously
LEARNinG AND I SHALL
CONTINOUSLY READ
LISTENING

I SHALL STRIVE TO
LISTEN & UNDERSTAND
BEFORE I SPEAK
MENTORSHIP

I shall GIVE THE


KNOWLEDGE I HAVE AND
WILL GAIN
TO OTHERS
MISTAKES

I shall STRIVE TO LEARN


FROM THE MISTAKES
I MAKE AND TO NOT MAKE
TWICE
NATURE

I shall CONSERVE AND


PROTECT NATURE
AND ENSURE IT REMAINS
FOR MY GRANDCHILDREN
OPTIMISM

I shall ALWAYS
SEE THE GLASS AS
HALF FULL
ORGANIZATION

I shall KEEP MY LIFE


& BELONGINGS IN ORDEr
WHILE KEEPING SPACE FOR
EXHUBERENCE & CREATIVITY
PASSION

I shall ALWAYS
STRIVE FOR THAT
WHICH I BELIEVE
PERSERVERANCE

I shall NOT GIVE UP NOR


GIVE IN TOO SOON AS LONG
AS I FEEL A GOAL IS
WORTHY OF THE EFFORT
PLANNING

I shall PLAN FOR MY LIFE


AND UPComing EVENTS
POSITIVITY

I shall be positive
DURING ALL TIMES AND
BELIEVE IN THE POWER oF A
POSITIVE MENTAL ATTITUDE
PREPARATION

I shall ATTEMPT TO ENTER


EACH SITUATION WITH AN
INTELLECTUAL FRAMEWORK
PRIMED & READY
PRESENCE

I shall FOCUS MY COMPLETE


ATTENTION ON THE SINGLE
INDIVIDUAL I AM
SPEAKING WITH
PUNCTUALITY

I shall be on
TIME
REFLECTION

I shall TAKE MOMENTS TO


REVIEW WHAT HAS BEEN DONE
AND EXAMINE SOCIETY AND MY
BEING, GOALS, and HABITS
RESPECT

I shall RESPECT
ALL OTHERS
SACRIFICE

I shall SAVE & INVEST FOR


TODAY SO AS TO GAIN FOR
TOMORROW
SINCERITY

I SHALL BE SINCERE AND


ONLY TALK ABOUT
PEOPLE IN AN
EMPOWERING WAY
SPIRITUALITY

I shall REALIZE I AM A
VERY SMALL PART OF THE
UNIVERSE AND HAVE GREAT
GRATITUDE FOR LIFE
SOLITITUDE

I SHALL HAVE A PERIOD OF PEACE


AND SOLITUDE AT THE BEGINNING
OF EACH DAY IN WHICH I SHALL
GIVE THANKS AND ENVISION

THE DAY AHEAD


SPONTANEITY

I SHALL PERFORM WEEKLY


EITHER An ACT OF KINDNESS
OR AN ACTIVITY WHICH I HAVE
NEVER DONE BEFORE
SUPERFICIALITY

I SHALL NOT FOCUS


ON THE OUTER
BUT ON THE INNER
TEACHING

I shall TRANSFER BOTH


KNOWLEDGE & ENERGY
IN TEACHING
TRANQULITY

I shall NOT BE DISTURBED


BY TRIFLES OR BY THAT
WHICH IS NOT TRULY
IMPORTANT
TRANSPARENCY

I shall LIVE A PUBLIC


LIFE AND SHARE
THE CONTENTS OF MY
Dreams & PLANS
TRAVEL

I shall MAKE A PRIORITY


TO SEE AND EXPLORE
THE WORLD
WORK ETHIC

I shall WORK BOTH HARD


AND INTELLIGENTLY AND
NOT LEAVE FOR TOMORROW
WHAT CAN BE DONE TODAY
BEN FRANKLIN’s 13 Values
1.  Temperance: Eat not to dullness; drink not to elevation.
2.  Order: Let all your things have their places; let each part of
your business have its time.
3.  Resolution: Resolve to perform what you ought; perform
without fail what you resolve.
4.  Frugality: Make no expense but to do good to others or
yourself; i.e., waste nothing.
BEN FRANKLIN’s 13 Values
6.  Moderation: Avoid extremes; forbear resenting injuries so
much as you think they deserve.
7.  Industry: Lose no time; be always employed in something
useful; cut off all unnecessary actions.
8.  Cleanliness: Tolerate no uncleanliness in body, clothes, or
habitation.
9.  Tranquility: Be not disturbed at trifles, or at accidents
common or unavoidable.
BEN FRANKLIN’s 13 Values
9.  Silence: Speak not but what may benefit others or yourself; avoid trifling
conversation.
10.  Sincerity: Use no hurtful deceit; think innocently and justly, and, if you speak,
speak accordingly.
11.  Justice: Wrong none by doing injuries, or omitting the benefits that are your
duty.
12.  Chastity: Rarely use venery but for health or offspring, never to dullness,
weakness, or the injury of your own or another's peace or reputation.
13.  Humility: Imitate Jesus and Socrates.
IN SUMMARY ON VALUES

YOUR LIFE WILL BE ENRICHED AND


YOU WILL SLEEP SOUNDLY AT NIGHT
KNOWING YOU ARE LIVING WITH A CONsCIOUS
SET OF VALUES
Financial plan exercise

You can do the following 10 minute


Values exercise now
Or put a time on your calendar
To return to it
Values
EXERCISE
Exercise: VALUES

Write down the 10 most important

Values to you?
CONNECT COMPANY VALUES CIRCA 2012
Lessons from my 20s

PART I, Section 14

LIFE LESSoNS
LIFE Lessons from 2005

I’ve been KEEPING TRACK OF


THE major LESSONS I’ve learned
Each YEAR Since 2005
LIFE Lessons from 2005

LISTEN TO THAT LITTLE VOICE


in the back of your HEAD
It’s usually alerting
You to something
Important
LIFE Lessons from 2005

YOU CAN
ACHIEVE ANYTHING
YOU SET YOUR MIND TO
LIFE Lessons from 2005

Don’t let
Non-communication
Lead to the
Degeneration of a
Relationship
LIFE Lessons from 2005

Don’t AVOID DOING


THINGS JUST BECAUSE
THEY MAY CAUSE CONFLICT!
LIFE Lessons from 2005

AT THE END OF THE DAY


Impact & INTEGRITY is
What matters!
LIFE Lessons from 2005

NEVER Say “BUT”


INSTEAD SAY
“YES, AND.”
LIFE Lessons from 2005

THERE ARE TWO WAYS


TO DETERMINE THE RULES OF LIFE
TALKING TO SMART PEOPLE
and TRIAL AND ERROR
EITHER WAY
START LEARNING EARLY
LIFE Lessons from 2006

IF SOMEBODY SUES YOU


GO TALK TO THEM IN PERSON
IMMEDIATELY
LIFE Lessons from 2006

NETWORKING
Isn’T ABOUT BUSINESS CARDS
IT’s about building
Meaningful relationships
LIFE Lessons from 2006

2.4
PEOPLE
Billion
LIVE ON LESS THAN
TWO DOLLARS PER DAY
Source: World Bank
LIFE Lessons from 2006

EVERY Day 18,000


CHILDREN UNDER 5 DIE
MOST FROM PREVENTABLE
DISEASE AND LOW NUTRITION.
THIS DOESN’t HAVE TO HAPPEN.
Source: World Bank
LIFE Lessons from 2006
80% OF HUMAN BEINGS
LIVE oN LESS THAN
$10 PER DAY So IF YOU’RE LIVING ON MORE
THAN $10 PER DAY
Count your blessings
Source: World Bank
LIFE Lessons from 2007

LIFE IS PRECIOUS
AND CAN END ANYTIME
SO EXPRESS GRATITUDE DAILY
AND TELL THOSE YOU LOVE
THAT YOU LOVE THEM
LIFE Lessons from 2007

THE WORLD HAS


MORE OPPORTUNITIES
THAN YOU MIGHT THINK
so DEFINE YOUR PURPOSE
THEN SEEK THEM OUT
LIFE Lessons from 2007

PoSITIVE DEVELOPMENTS
OCCUR WHEN YOU
ASSOCIATE WITH
EXTRAORDINARY PEOPLE
LIFE Lessons from 2007

GRATITUDE
IS AN EXTREMELY POWERFUL
CHARACTER ATTRIBUTE
LIFE Lessons from 2007

HUMANS
HAVE A DEEP DESIRE
In THEIR LIVES FOR

LOVE AND AFFECTIOn


LIFE Lessons from 2007

IF THERE’S ONE
THING YOU “OVERDo”
IN LIFE MAKE IT

COMMUNICATIon
LIFE Lessons from 2007

LET YOUR INNER CHILD


COME OUT DAILY
AND SILLY DANCE
LIFE Lessons from 2007

AVOID GETTING
MARRIED
UNTIL YOU’RE ABLE TO
FULLY FINANCIALLY
SUPPORT YOURSELF
LIFE Lessons from 2007

AVOID HAVING CHILDREN


UNTIL YOU CAN
SAFELY FINANCIALLY
AFFORD CHILDREN
LIFE Lessons from 2007

GOOD HEALTH
IS EVERYTHING
LIFE Lessons from 2008

Don’t ever
LET YOUR MIND
LIMIT YOURSELF
LIFE Lessons from 2008

One way to avoid


CRITICISM
IS TO DO NOTHING & STAND FOR NOTHING

THE WORLD WILL THEN


LEAVE YOU ALONE
LIFE Lessons from 2008

IF YOU’re up to
something that matters
in the world
CRITICISM is inevitable
It comes with the territory
LIFE Lessons from 2008

ARROGANCE IS NOT
OVER-CONFIDENCE
It is being
DISMISSIVE OF OTHERS
LIFE Lessons from 2008
IT TAKES ten years TO
BECOME GREAT AT SOMETHING
Thus You can only
BECOME GREAT
AT 6 or 7 things

CHOOSE CAREFULLY
LIFE Lessons from 2009

DO SOMETHING WONDERFUL
EACH DAY WITH
INFECTIOUS ENTHUSIASM
LIFE Lessons from 2009

JUST SAY
“OK GOOD”
TO LIFE
LIFE Lessons from 2009

CANCER
IS HORRIBLE
LIFE Lessons from 2009

WE ALL HAVE
CHALLENGES
It’s how you INTERPRET
& RESPOND TO THEM
THAT COUNTS
LIFE Lessons from 2009

PEOPLE GENERALLY
ACT CONSISTENTLY
WITH WHAT IS EXPECTED
OF THEM
LIFE Lessons from 2009

MANY PEOPLE
IN THE UNITED STATES
ARE NOT AUTHENTICALLY
HAPPY
LIFE Lessons from 2009

THERE IS BEAUTY
IN UNDERSTANDING
NUANCE
LIFE Lessons from 2009

ASK FOR
ADVICE
MORE OFTEN
LIFE Lessons from 2009

TO achieve big goals


You need TO
FOCUS
LIFE Lessons from 2009

THERE IS GREAT
POWER IN A
HANDWRITTEN NOTE
LIFE Lessons from 2009

FIND A WAY TO
MAKE ALL NEGOTIATIONS
BENEFIT
BOTH SIDES
LIFE Lessons from 2010

THE BEST MEDICINE


FOR STRESS
IS BREATHING!
LIFE Lessons from 2010

nd
THE 2 BEST MEDICINE
FOR STRESS
IS LAUGHTER!
LIFE Lessons from 2010

TRAVEL THE
WORLD FOR AT LEAST
3 weeks per year!
LIFE Lessons from 2010

EVERY WEEK
WATCH a
TED VIDEO
LIFE Lessons from 2010

SPEND MORE HOURS


READING THAN YOU DO
WATCHING TV!
LIFE Lessons from 2010

LIMIT TELEVISION
To 30 minutes
PER WEEK!
LIFE Lessons from 2011

INVESTING in AFRICA NOW


IS LIKE INVESTING IN INDIA
In 1985!
LIFE Lessons from 2011

NEARLY SUPER-HUMAN
FEATS ARE POSSIBLE
WHEN YOU ARE DEEPLY
PASSIONATE ABOUT

YOUR MISSION
Life lessons exercise

You can do the following 5 minute


Life lessons exercise now
Or put a time on your calendar
To return to it
Life Lessons
EXERCISE
Exercise: life lessons

Write down the 3 most important

Life lessons
You have ever learned
Lessons from my 20s

PART I, Section 15

Sage advice
FAVORITE QUOTES on LIVING

LIFE IS EITHER
DARING ADVENTURE
OR NOTHING
- HELEN KELLER!
FAVORITE QUOTES on LIVING

ABOve
ALL
TRY SOMETHING
- FRANKLIN D. ROoSEVELT!
FAVORITE QUOTES on LIVING

ONE WHO MAKES


NO MISTAKES
MAKES NOTHING - GIACOMO CASANOVA!
FAVORITE QUOTES on LIVING

DO ONE THING
EVERYDAY
THAT SCARES YOU - ELEANOR ROOSEVELT!
FAVORITE QUOTES on LIVING

NEVER DOUBT THAT


A SMALL GROUP OF
THOUGHFUL, COMMITTED CITIZENS
CAN CHANGE THE WORLD
- MARGARET MEAD!
FAVORITE QUOTES on LIVING

Don’t chase
THE PAPER
CHASE THE DREAM! - P DIDDY!
FAVORITE QUOTES on LIVING

FAR BETTER IT IS TO DARE MIGHTY THINGS


THAN TO RANK WITH TIMID SPIRITS
WHO KNOW NEITHER
VICTORY NOR DEFEAT - THEODORE ROOSEVELT!
FAVORITE QUOTES on LIVING

HERE’S TO THE CRAZY ONES.


THE MISFITS, REBELS, & TROUBLEMAKERS
THE ONES WHO SEE THINGS DIFFERENTLY
BECAUSE THE PEOPLE WHO ARE CRAZY ENOUGH
TO THINK THEY CAN CHANGE THE WORLD
ARE THE ONES WHO DO - STEVE JOBS!
FAVORITE QUOTES on LIVING

WHETHER YOU THINK YOU CAN


OR YOU CANNOT
YOU ARE RIGHT - HENRY FORD!
FAVORITE QUOTES on LIVING

FOLLOW YOUR
BLISS - JOSEPH CAMBELL!
FAVORITE QUOTES on LIVING

UNTIL ONE IS COMMITTED, THERE IS HESITANCY


THE CHANCE TO DRAW BACK.
WHATEVER YOU CAN DO, BEGIN IN.
BOLDNESS HAS GENIUS, POWER, & MAGIC IN IT.
BEGIN IT NOW. - W.H. Murray!
FAVORITE QUOTES on LIVING

BEAUTY
IS THE ABSENCE
OF THE SUPERFLUOUS
- Greek SCHOLARS!
FAVORITE QUOTES on LIVING

SIMPLICITY
IS THE ULTIMATE
SOPHISTICATION
- Greek SCHOLARS!
- LEONARDO DE VINCI!
Lessons from my 20s

Part II:

entrepreneurship
ABOUT THIS PRESENTATION

THIS presentation can be found


Online at
www.hive.org/20s
PART 2 TOPICS
PART 2 “ENTREPRENEURSHIP” INCLUDES SECTIONS ON
Entrepreneurship Venture Capital
The big opportunities Marketing
Leadership Building systems
Business Planning BUILDING A TEAM
PRODUCT DEVELOPMENT STRATEGY & EXECUTION
Innovation Steps to get started
Lessons from my 20s

PART II, Section 1

Purpose-driven
entrepreneurship
A definition

Entrepreneurs (n.)

Individuals who build organizations


which scalably & sustainably
solve human problems

How Will you Use Your one Wild and Precious Life?
Choosing Your PROBLEM
Be a purpose-driven entrepreneur

entrepreneurship
Is about solving problems
And creating value
For humanity
The virtuous cycle of purpose-driven entrepreneurship

An entrepreneur can bring immense


value to humanity by building a
For-purpose Business that earns money
that can be used to reinvest in more
opportunities that
make the world better
Common traits of entrepreneurs

Initiative Perserverence
Drive toward efficiency Creativity
Bias toward action Ability to learn quickly
Ability to take feedback Ability to plan
Tolerance for stress Ability to delay gratification
Determination Drive to achieve
Decisiveness Ability to prioritize
Courage Ability to build a team
Ability to deal with failure Ability to inspire & lead
A quote
“Both a sparkplug & catalyst the
entrepreneur is at once the driving
force behind production
and the agent who combines the other
resources in what is hoped will be a
profitable venture”
- McConnell and Brue in Economics
Understand the system

THERE IS AN ENTIRELY DIFFERENT


WORLD OUT THERE—A WORLD
OF PROSPERITY & UNLIMITED WEALTH
You can enter this world
IF YOU ARE AWARE IT EXISTS
AND YOU WORK HARD
Understand the system

TO ENTER THIS WORLD


YOU MUST UNDERSTAND HOW
THE SYSTEM OF ENTREPRENEURSHIP

WORKS
Understand the system

THERE ARE THREE WAYS TO BUILD WEALTH


THROUGH ENTREPRENEURSHIP
THROUGH A SALARY, THROUGH DIVIDENDS,
and through THE SALE OF
STOCK YOU OWN
Impacting Billions of lives

So HOW CAN YOU


IMPACT THE LIVES
OF OVER

ONE BILLION PEOPLE?


Impacting Billions of lives

WELL
YOU NEED TO BE
WORKING ON A
BIG PROBLEM!
Solving big problems

Big Problems are actually


BIG opportunities!
Solving big problems

TOO MANY PEOPLE


ARE FOCUSED on
TOO SMALL OF A PROBLEM!
Two key steps many aspiring entrepreneurs miss

There are two critical


First steps for any
entrepreneur
THE Two Steps to success in entrepreneurship

First you must find


A problem that you
Passionately want
to solve
THE Two Steps to success in entrepreneurship

Next devote your


life to building the
Team that will solve
That problem better than
Any other group of humans
That has come before
Step 1: Find a really big problem
you are passionate about solving.
Step 2:
Devote your life to
building the team that
best solves the problem
THE Two Steps to success in entrepreneurship

As an entrpreneur
If you aren’t solving
A problem worth dedicating
20 years of your life to
You won’t be able to make it
Through the hard times ahead
THE Two Steps to success in entrepreneurship

A problem
Worth dedicating your life to
Is often called a

“wicked problem”
To find your problem, you must create your purpose

The problem you wish to solve


Must deeply align with the
Life Purpose you created
in part 1!
How to do it

work on solving a
big Problem
aligned with your

purpose
Choosing your sector

Once you find the problem


You wish to solve then Find
The most effective sector
To work within to solve it
Choose your angle of attack
The most common ways to solve big problems:
1.  build a purpose-driven business
2.  Join a purpose-driven business
3.  build a non-profit
4.  Join a non-profit
5.  Join a government agency
6.  Run for political office
7.  Become a scientist/researcher
8.  Invest in companies solving the problem
9.  Convene people who are solving the problem
Choosing your sector

Much of this part of the presentation is about

building a purpose-driven
business
Be a purpose-driven entrepreneur

In many cases, you can


Make the most scalable impact
On the world By building a
For-profit business that is
Socially minded
Example for-profit impact companies
Why Build a for-profit social business vs. a non-profit?

Easier to raise funding to scale


Ability to use stock options
Ability to invest in a more experienced team
Better compensation
Faster Feedback cycle directly from customers
Ability to subsidize lower income customers
Ability to invest in R&D
Choosing your sector

Here is a map of social


And economic impact by sector
created by Max Marmer
in a 2012 HBR article called
“Transformational entrepreneurship”
A Map of societal and economic impact
Economic)
Impact)

Exploitative High Growth Transformational


Entrepreneurship Entrepreneurship Entrepreneurship

Work here in
Harmful Small Contributory Social the green!
Businesses Small Businesses Entrepreneurship

Societal)
Impact)

Harmful Non Ineffective Transformational


Profits Non Profits Non Profits
Look into b Corps
Invest in companies solving big problems

Another angle is to work


At investment funds
That invest in companies that are
Solving big human problems
Venture funds investing in solving big problems
Impact investing leaders
Determining Your PATH IN YOUR Twenties
Explore widely to find what
makes you come alive

Create your life purpose


statement

Determine the big problem you


want to solve

Decide on sector you want to


work in to solve the problem

Government Non-Profit Business

Elected Appointed Join Existing Start New Join Existing Start New
Don’t a be a cog

Becoming a highly specialized cog


in a meaningless machine

Is no way to live a life


What most people do

What most people do is focus on a specific


Type of job & specialize on a profession

Don’t do that
What most people do

Don’t specialize on a niche profession


Specialize on a

problem
WHAT YOU SHOULD DO

Instead of specializing on a specific job role


Specialize on a specific human problem that you are

Dedicated to solving
Live an unleashed life

When you’re spending your years focusing on


A really big human problem you end up living a

LIFE of purpose
Live an unleashed life

And when you’re naturally excited by the


Work that you do you end up attracting more

Positive and capable people


Live an unleashed life

THIS process creates a self-reinforcing virtuous


Cycle leading to greater fulfillment, meaning,

And happiness
Find your mission

FIND A MISSION
THAT YOU ARE DEEPLY
PASSIONATE ABOUT
AND BUILD A BUSINESS TO
PURSUE THE heck OUT OF IT
Your motivation

SPEND TIME THINKING AND MEDITATING


ON YOUR RAISON D’ETRE AND FIGURE
OUT WHAT CONSTITUTES THE CORE
MOTIVATIONS FOR WHAT YOU DO AND
What you stand for
Entrepreneurship

BEING AN ENTREPRENEUR IS NOT


FOR EVERYBODY. BUT IF YOU FIND
IT’S FOR YOU AND YOU CAN FIND
A WAY TO SUCCEED, it can be
EXTREMELY REWARDING.
Entrepreneurship

BECOMing A SUCCESSFUL
ENTREPRENEUR IS NOT EASY
YOU MUST HAVE PERSISTENCE
DEDICATED, TENACITY & THE ABILITY
TO DEAL WITH ADVERSITY
What it takes

Entrepreneurship is doing
Something others won’t for
10 years so you can do what
Others can’t for the
Rest of your life
The big opportunities

Next we’ll look at some


of the biggest opportunities
In the world right now
To build a business
That makes a huge impact
A quote

“Entrepreneurship is about passion


following a dream and changing the
world with plenty of craziness along
the way.”
- Jeffrey Bussgang, Flybridge
Lessons from my 20s

PART II, Section 2

The big
opportunities
A quote

“I don’t skate to where the puck is. I


skate to where the puck is going.”
- Wayne Gretzky
An innovation Timeline

To put everything
Into perspective here is
A timeline of innnovation
An innovation timeline

Farming
Money Abacus The Alphabet Steel
(15,000 Yrs Ships
(5,000 Yrs Ago) (5,000 Yrs Ago) (3800 Yrs Ago) (2400 Yrs Ago)
Ago) (6000 Years Ago)

Trade Cities Form The Wheel Iron Written Language The Legal System Water Power
(20,000 Years Ago) (6000 Years Ago) (5,500 Yrs Ago) (5,000 Yrs Ago) (4900 Yrs Ago) (3,800 Yrs Ago) (2200 Yrs Ago)
Key innovations From 0 to 1800

Gunpowder Movable Type Microscope Telescope Binary Numbers Smallpox Vaccine


850 1040 1590 1608 1697 1796

Paper Compass Printing Press Electricity Steam Power Engine


105 950 1450 1600 1690 1712
19th century innovation timeline

Internal
Combustion
Radio
Battery Engine Anesthesia Telephone Electrical Grid Automobile
1897
1800 1823 1846 1860 1880 1885

Light Bulb Telegraph Electromagnet Petroleum Periodic Table Vacuum Tube Semiconductors
1800 1809 1825 1859 1869 1883 1896
20th century innovation timeline

Manned Genetic
Airplane Penicillin DNA Satellites Space Flight Microprocessor World Wide Web
Engineering
1903 1928 1953 1957 1961 1971 1991
1973

Quantum Television Transistor Organ Nanotechnology The Internet Cell phones 1978 Carbon
Physics 1926 1947 Transplants 1959 1969 1973 GPS Nanotubes
1900 1964 1991
21st century innovation timeline

Lab Grown Organ


Transplants Smartphone
2000 2007 ? ? ?

Human Genome Map Quantum Computer ?


? ?
2001 2012

It’s now your opportunity to create the future


The Biggest opportunites for millennials

Here are the fields needing


Great entrepreneurs
between
2015-2050
The Biggest opportunites for millennials
Energy & Environment Health & Wellness Financial Access

Food & Water

Engineering Computing

Education
Energy & Environment
Solar Energy
Wind Energy
Biofuels
Sustainable City Planning
Food & Water
Synthetic Food Production
Vertical Farming
AgTech
Water Desalination
Education
Cloud Education
Low Cost Schooling
Leadership Training
Network Building
Health & Wellness
Synthetic Biology
Brain Mapping
Optogenetics
Personalized Medicine
Reverse Aging
Bionic Eyesight
Low Cost Sanitation
Mindfulness Training
Engineering
Clean Transportation
Self-Driving Cars
Robotics
Space Exploration
3D Printing
Nanotechnology
Long Life Batteries
Low Cost Housing
Financial Access
Mobile Banking
Frontier Market Finance
Digital Currency
Digital Wallets
Computing
Quantum Computing
Converged Smartphones
Data Storage on DNA
Artificial Intelligence
Contact Lens Smartphones
Natural User Interfaces
Government 2.0
Cybersecurity
Climate Engineering
Wearable Computers & HUDs
The Internet of Things / Cloud Devices
Mobile Software
The Biggest Opportunities of Our Generation
Energy & Environment Health & Wellness Financial Access
Solar Energy Synthetic Biology
Advanced Batteries Mobile Banking
Brain Mapping Frontier Market Finance
Biofuels Optogenetics
Climate Engineering Payment Processing
Reverse Aging Digital Currency
Sustainable City Planning Personalized Medicine Digital Wallets
Bionic Eyesight
Low Cost Sanitation
Food & Water
Mindfulness Training Computing
Synthetic Food Production
Quantum Computing
Agricultural Technology Converged Smartphones
Vertical Farming Engineering

Data Storage on DNA
Water Desalination Artificial Intelligence
Clean Transportation Contact Lens Smartphones
Self-driving Cars Natural User Interfaces
Robotics Government 2.0
Education
Space Exploration Cybersecurity
Cloud Education 3D Printing Wearable Computers
Low Cost Schooling Nanotechnology Implantable Computers
Leadership Training Long Life Batteries The Internet of Things
Low Cost Housing Mobile Software
Network Building
The Mobile Cloud

Beautiful & Easy


Mobile Cloud Services are
REVOLUTIONIZING
EVERYTHING
The Reimagination of nearly everything
1994& 2014&
Books& Printed! Kindle,!iPad,!Nook!
Cameras& Film!&!Development! Device?Integrated,!Synced!to!Cloud!
Cars& Self?owned! GetAround,!Zipcar,!LyI,!Uber!
Channel!Changing& Remotes! Hand!Gestures!
Check!Out& Cash!Register! Square!+!Tablet!
Ci.zen!Ac.on& Faxes,!Calls! Change.org!
Communica.on& Postal!Mail,!Fax,!Landlines! Smartphones,!Email,!SMS,!Facebook,!TwiWer,!WhatsApp,!SnapChat!
Contact!Management& Rolodexes! Connect,!Google!Contacts!
Doctors!Appointments& Phone!Call! ZocDoc,!One!Medical!
Event!Planning& Mail!&!Telephone! EventBrite,!Facebook!Events,!YPlan!
Fashion& Expensive!Bou.ques! RentTheRunway,!Gilt!
Food!Delivery& Phone!Call! GrubHub,!Munchery,!Sprig,!Spoonrocket!
Fitness& Gym! Nike!FuelBand,!FitBit,!Jawbone!Up,!Basis!
Funding& Friends!&!Funding! Kickstarter,!Fundable,!Indiegogo!
Global!Outsourcing& Plane!travel! Crowdflower,!Exec,!ODesk,!Elance,!Guru,!SmarterWork,!Freelancer!
GPS& Not!available!to!consumers! GPS!on!your!smartphone!
Groceries& Local!store! Amazon!Fresh,!Instacart!
Informa.on!Storage& Storage!Cabinets! DropBox,!Box,!Google!Drive,!SkyDrive!
Job!Searching& Fairs!&!Resumes! LinkedIn,!Hired!
Knowledge& Encyclopedia!Britannica! Wikipedia,!KhanAcademy,!CodeAcademy,!Udemy,!Coursera,!iTunes!U!!
Lending& Banks! LendingClub,!Prosper,!Kabbage,!LendUp!
Locks& Deadbolts! Lockitron!
The Reimagination of nearly everything
1994& 2014&
Maps& Printed! Google!Maps,!Bing!Maps!
Marke.ng& Direct!mail,!phone!book,!billboards! Paid!search,!social!ads,!mobile!ads!
Movies& Blockbuster! Ne[lix,!Amazon,!iTunes,!YouTube,!Hulu!
Music& CasseWes!&!CDs! Spo.fy,!Rdio!
News& Television,!Radio,!&!Newspaper! TwiWer,!Flipboard,!Prisma.c!
Note!Taking& Notepads! Evernote,!Google!Docs!
Phones& Landlines! Smartphones!
Picture!Storage& Photo!Albums! Facebook,!Flickr,!500px!
Plumber& Phone!Book! HandyBook,!Angie’s!List!
Product!Design& In?house! Quirky!
Reviews& Word!of!Mouth! Yelp!
Scrapbooks& Hand?created! Pinterest!
Shopping& Mall! Amazon,!eBay!
Signatures& Pens!&!Fax! Docusign,!EchoSign!
Social!Network& Bar,!Alumni!Reunion! Facebook,!Instagram,!Google+,!LinkedIn!
Task!Management& Post?its! Trello,!Asana!
Tasks& Classifieds! TaskRabbit,!Zaarly,!Zirtual!
Television& Cable!&!Bunny!Ear!Antennas! HuluPlus,!Ne[lix,!Apple!TV,!iTunes,!Amazon!Fire!TV!
Textbooks& Buy!them!at!a!bookstore! Chegg,!Amazon!Textbook!Rental!
Thermostats& Analog! Nest!
Traffic?Informa.on& Radio! Waze,!Google!Maps!
Wallets& Leather! Google!Wallet!
Watches& Swatch!&!Rolex! Pebble,!Basis!!
The Reimagination

No longer do we need A car, A music collection, A video collection

Everything is now
available on-demand
For an asset-light lifestyle
The Reimagination

SOON EVERY GOVernment service


will be delivered
VIA THE MOBILE CLOUD
The Reimagination

You can monitor your


Heart rate and sleep via your
Android WATCH
The Reimagination

You can now check your


Blood sugar via smart
Contact lenses
The Reimagination

Every device will be connected


As the internet of things
explodes
Lessons from my 20s
PART II, Section 3

Authentic
leadership
Leadership

A leader is a person
who is committed to something
bigger than themselves
Leadership

An authentic leader is
Someone who has aligned
Their personal purpose with
their professional purpose
Leadership

Sadly, way too many people


Have never taken the time
To create their
Personal purpose
Leadership

Even those who do have


Personal purpose, so rarely
Make it their full time
Professional pursuit
BE a rare duckling

Be the RARE DUCKLING


And actually make your
Purpose your full time
Professional pursuit!
BE a rare duckling

It may be harder in the


Short run, but in the long run
You’ll be more passionate
And create more impact
(And if you do it right, earn much higher financial compensation too)
The Authentic Leader!

personal
purpose! =! professional
purpose!
The Inauthentic Leader
personal
purpose! ≠! professional
purpose!
INspiration

How can you possibly expect


To inspire A team to greatness
If you yourself aren’t working
On your purpose with your
Full time efforts
The obvious

You think your team won’t be


Able to tell whether you’re a
Passionless corporate shrill
Or lit up on fire
WITH ENERGY??
When your personal purpose is what
you work on daily, work becomes
greatly enjoyable—no matter the
challenge.!
The je nais se quoi of leadership

The way great leaders get that


“Je nais se quoi” quality about them
Is from their deep commitment
To creating something that makes the
World better
The je nais se quoi

Imagine the insatiable energy


And Charisma you will have
When you’re actually working
On what you’re passionate about
With your full time effort
Fear?

So what are you afraid of?


Failure?
Fear?

what you should really fear isn’t FAILUre


What you should really fear is the
Regret you’ll feel when you’re 80 having

never given it a try


Leadership

An authentic leader
Hires missionaries
Not mercenaries
Leadership

You can’t be a leader


until you know
why you’re leading
Authentic Leaders Know
Why & Where They Are Leading
Authentic leaders are
vulnerable and open
with their team and
share their struggles!
Authentic leaders inspire a team to move
mountains to achieve the mission.!
Authentic leaders paint a clear vision and
communicate it succintly, visually, and
repeatedly.

!
Leadership

NEARLY SUPER-HUMAN feats


Are possible when a team is
DEEPLY passionate about
their MISSION
Advice on authentic leadership

Here are
Six thoughts on becoming
An unleashed high-integrity

leader
Find a mission that you are deeply
passionate about and build a business to
make the world you envision real

If you want to have the
persistence to build a great
business work on solving a
problem that you are
passionate about that aligns
with your life purpose
Don’t begin the effort of
building a company if
you’re not deeply
passionate about the
problem you are trying to
solve
Too many startups try to
solve problems they’re not
actually passionate about
solving
Building a company is hard. If
you’re deeply passionate about
solving the problem you’ll get
through the years of sacrifice.
Once you’ve determined the change
you seek build a company that
sustainably creates that change
at scale.

Lessons from my 20s

PART II, Section 4

Business
planning
Business planning

SOME ENTREPRENEURS
choose not to create a plan at all
And just start working
On a prototype or
Minimum viable product
Business planning

I find that it’s helpful to at least


create a short slide deck or exec summary
To ensure you know what you’re building
& What problem you’re Solving
before you start building
What’s in your deck?

1.  PROBLEM you’re solving


2.  PRODUCT & TECHNOLOGY
3.  your recent traction
4.  MARKET & COMPETITION
5.  TEAM
6.  revenue model
7.  FINANCIAL PROJECTIONS
In the first two slides…

CLEARLY ILLUSTRATE
THE PROBLEM YOU ARE SOLVING
HOW YOU ARE SOLVING IT
AND FOR WHOM
Product section

SHOW PICTURES OF A PROTOTYPE


OR WIREFRAMES & MOCKUPS
MAKE YOUR SPECIFIC SOLUTION

EASILY VISUALIZED
Product section

SHARE YOUR PRODUCTION TIMELINE


AND KEY MILESTONES TOWARD
INITIAL PRODUCT DELIVERY
AND DISCUSS FUTURE PRODUCTS
AND SERVICES
Financials section
ADDRESS THE FOLLOWING IN YOUR FINANCIAL PROJECTIONS
REVENUE ASSUMPTIONS
COST ASSUMPTIONS
Revenue by Month
COST BY MONTH BY CATEGORY
NET INCOME BY MONTH BY CATEGORY
TIME TO BREAKEVEN
FUNDS NEEDED TO REACH NEXT MILESTONE
TOTAL EXPECTED FUNDS NEEDED
Example 60 month financial projections
$1,500,000

$1,000,000

$500,000

$0

($500,000)

($1,000,000)

($1,500,000)

($2,000,000)

($2,500,000)
0! 6! 12! 18! 24! 30! 36! 42! 48! 54! 60!
Revenue Expenses Net Income
Financials section

Here’s a REALLY BASIC Example annual financial PROJECTION


2015! 2016! 2017! 2018! 2019!
Revenue! 18,127! 50,984! 143,401! 403,340! 1,134,461!
Expenses! 103,408! 118,539! 139,017! 287,553! 640,004!
Net Profit! -85,281! -67,555! 4,384! 115,787! 494,457!

your financial projections


Should list out expenses by major categories
(Labor, Marketing, Servers, OFFICE SPACE, etc.)
Answer these questions in your deck
#  What problem are you solving?
#  Why are you passionate about solving that problem?
#  Who’s on your team?
#  What is their background?
#  WHAT IS THE NEED FOR THE PRODUCT?
#  What is your revenue model / cost per unit?
#  WHAT IS THE SIZE OF THE MARKET?
#  WHAT WILL IT COST TO PRODUCE THE PRODUCT?
#  WHO IS YOUR TARGET CUSTOMER?
Questions you may wish to answer in your deck

# WILL YOU NEED TO ACQUIRE ANY IP?


# WHAT ROLES WILL YOU FILL IN THE FUTURE?
# WHAT ARE YOUR FUTURE PRODUCTS features?
# HOW MUCH IS NEEDED TO REACH BREAKEVEN?
# WHAT ARE YOUR ANNUAL Revenue PROJECTIONS?
# WHAT ARE YOUR ANNUAL COST PROJECTIONS?
# WHAT ARE YOUR ANNUAL PROFIT PROJECTIONS?
INcorporating

Before you start operating


it’s important to

INCORPORATE
INcorporating
THE BENEFITS OF INCORPORATING
MUCH LOWER TAXES
LIABILITY PROTECTION
BEING TAKEN SERIOUSLY
ABILITY TO OPEN A BANK ACCOUNT
ABILITY TO HIRE EMPLOYEES
ABILITY TO RAISE INVESTMENT
INcorporating

TO INCORPORATE YOURSELF
YOU JUST NEED TO KNOW
THE NAME OF THE COMPANy
THE STATE YOU WISH TO INCORPORATE IN
THE NUMBER OF SHARES TO CREATE
THE INITIAL OWNERSHIP OF THOSE SHARES
INcorporating

IN THE U.S. you can start a


S Corp Most firms that plan on
C Corp raising capital are
Delaware C Corporations
LLC
BENEFIT CORP
INcorporating

IN CHOOSING A LAW FIRM LOOK AT


REPUTATION & REFERENCES
START-up EXPERIENCE
INTRODUCTION TO INVESTORS
IPO EXPERIENCE
PARTNER CHEMISTRY
INcorporating

ONCE INCORPORATED YOU’ll


RECEIVE YOUR
ARTICLES OF INCORPORATION
SET OF BYLAWS
SET OF STOCK CERTIFICATES
INcorporating

THEN YOU CAN GET AN


EMPLOYER IDENTIFICATION NUMBER
FROM THE IRS (YIPEE!)
AND OPEN A BANK ACCOUNT
Early equity is based on

1.  How far along firm is when you join


2.  Your position in the company
3.  Amount of capital you invest
4.  What you negotiate
Equity Rules of THumb
Time Pre-founding Year 1 Year 2 Year 3 Year 4 Year 5+
Time of Joining Pre-Seed Post Seed Post Series A Post Series-B
CEO 55% 40% 20% 15% 10% 8%
COO 15% 15% 10% 5% 3% 2.50%
CFO 12% 10% 7% 4% 2.50% 1.50%
CTO 12% 10% 7% 4% 2.50% 1.50%
SVP Level N/A 7.50% 5% 3% 2% 1%
VP Level N/A 4% 3% 2% 1% 0.50%
Manager N/A 1.50% 1% 0.50% 0.25% 0.10%
Sr. Engineer 5% 1.50% 1% 0.50% 0.25% 0.10%
Engineer 3% 0.75% 0.50% 0.25% 0.10% 0.05%
Staff Member 1% 0.30% 0.20% 0.10% 0.05% 0.03%
Investors 0% 10% 30% 30% 45% 45%

AS TIME CONTINUES, RISK REDUCES, CAPITAL IS RAISED & VALUE IS CREATED


THUS LESS EQUITY iS PROVIDED THE LATER YOU JOIN
Lessons from my 20s
PART II, Section 5

Product
Development
The core human desires

Great products fulfill one or more


Of the 10 core human desires
1.  Safety / security 6.  Impressing others
2.  Health / survival 7.  Communicating / connecting
3.  Earning money 8.  New experiences
4.  Finding a partner 9.  Finding meaning
5.  Learning 10.  Comfort & relaxation
The 7 characteristics of a great product

1.  Fulfill 1+ core human desire


2.  Easy to use
3.  Beautiful design
4.  Highly effective at stated purpose
5.  4x or more markup over costs
6.  Recurring purchase/supply needed
7.  An easy to remember name
The characteristics of a great product

GREAT PRODUCTs
BRING JOY to people and
Smiles TO FACES
The characteristics of a great product

GREAT PRODUCTs
ARE SIMPLE ON THE OUTSIDE
AND POWERFUL ON THE
INSIDE
What is product management?

PRODUCT MANAGEMENT
IS THE PROCESS OF DEFINING
And prioritizing
WHAT You’RE BUILDING
What is product management?

Good product management


Is driven by a vision
Of the way the world
Should be
What is product management?

Good product management


Takes into account lots of
Metrics and feedback
But ultimately should be
Vision-driven
The right type of Product manager

YOUR GOAL IS TO BE HERE


ON THE SPECTRUM OF
PRODUCT MANAGERS
“The green zone”
Design by Open to feedback and data but Maniacal
Committee hell driven by a strong vision of the dictator design
way the world should be.
What is product management?

YOU WANT TO BE SLIGHTLY


RIGHT OF CENTER WITH PM
It is better to have a strong vision
And be slightly maniacal
Then be unsure about the change
You wish to create in the world
What is product management?

GREAT PRODUCT managers


ARE ABSOLUTELY PASSIONATE
ABOUT THE CHANGE THEY WISH
TO MANIFEST IN THE WORLD
Lessons from my 20s

PART II, Section 6

INNOVATION
What is Innovation?

Innovation (n.)
THE PROCESS OF
CREATING SOMETHING NEW
THAT MAKES LIFE BETTER
Innovation

INNOVATION
IS IMPOSSIBLE
WITHOUT PASSION
Innovation

Most companies aren’t


Innovative because they
Lack passion
Innovation

INNOVATORS
SEE THE WORLD
AS IT SHOULD BE
Innovation

INNOVATORS
BECOME OBSESSED WITH
MAKING THE WORLD BETTER
Innovation

INNOVATORS
FOCUS INCESSANTLY ON
BRINGING VALUE TO MARKET
Solving big problems

SOME PEOPLE BELIEVE


THE GOVERNMENT
SHOULD PLAY NO
ROLE IN INNOVATION
Solving big problems

THE REALITY IS THAT MANY OF


THE BIGGEST INNOVATIONS OF
THE past 100 years have
COME OUT OF
GOVERNMENT PROGRAMS
Solving big problems

EXAMPLES INCLUDE
•  THE INTERNET
•  GPS
•  CT SCANS
Solving big problems

AND ALMOST EVERY


DRUG AND MEDICAL ADVANCE
IN THE U.S. COMES OUT OF AN
NIh FUNDED PROJECT
Solving big problems

Government funding
For basic research often comes
10-30 years before
Commercialization is possible
Top MILLENNIAL Innovators

At 15 he used carbon
nanotube sensors to
create a test for pancreatic
cancer and won the Intel
International Science and
Engineering Fair

Jack Andraka
Top MILLENNIAL Innovators

At 23, she is the CEO of


uBeam which is about to
launch a device that
beams electricity
through the air to charge
portable electronics
wirelessly

Meredith Perry
Top MILLENNIAL Innovators

At the age of 18 created a


device that could charge a
mobile phone in 30
seconds. Won the 2013
Intel Foundation Young
Scientist Award. Now a
Harvard student.

Eesha Khare
Top MILLENNIAL Innovators

By 35 he created a public
company worth $3B that
is bringing internet
access to the developing
world through wimax wifi
networks

Robert Pera
Innovation

HErE ARE FIVE


KEYS TO
INNOVATION
Innovation

1
Clearly DEFINE THE
PROBLEM you’re trying
To solve
Innovation

2
THROW OUT AS MANY
CONSTRAINTS TO YOUR
THINKING AS POSSIBLE
Innovation
3
ENSURE THOSE WORKING
TO SOLVE THE PROBLEM ARE
DEEPLY PASSIONATE ABOUT
SOLVING THE PROBLEM
Innovation
4
BRAINSTORM IN
SMALL GROUPS
Of 3-6 individuals with
Diverse perspectives
DESIGN THINKING

Design thinking is one of the


Best processes for
innovation
The five step design thinking process

Empathize Ideate

Define Prototype

Test
Key Materials needed for design thinking exericses

1.  Post-its of different sizes/colors


2.  Lots + Lots of whiteboard space
3.  Whiteboard markers
4.  Pens
5.  timer
Step 1: Empathize

Great products start with


empathy for the customer
And deep problem understanding
Step 1: Empathize

The best way to have empathy for your


customer is to solve a problem

you personally have


Step 1: Empathize

If it’s not a a problem you personally have


spend lots of time in the homes and offices
of your customers or users
Step 2: DEFINE

Define

the problem very clearly.
“The problem the customer is facing that we are solving is

_______________________________.

!
Step 2: DEFINE

Define

the human impact of solving the problem
“If we solve this problem, what specific differences will it make

in the lives of our customers/users: ____________________________.

!
Step 3: IDEATE

Ensure those working with you to solve the


problem are deeply passionate about

solving the problem!


Step 3: IDEATE

Brainstorm with a group of 3-6 people with


Diverse BACKGROUNDS & skillsets
Step 3: IDEATE

Initially, throw out all


Constraints to your thinking
Enter a No
Judgment zone
Step 3: IDEATE

Brainstorm individually on post-its


in 5-10 minute timed sessions

before
sharing
Step 3: IDEATE

Begin by Brainstorm individually on post-its


in 5-10 minute timed sessions

before
sharing
Step 3: IDEATE

Capture all ideas visually on


post-it notes stuck on whiteboards
So they are
easily
movable
Step 3: IDEATE

Never criticize an idea in the


Ideation phase
The crazy stuff can lead to
breakthroughs
Step 3: IDEATE

After PUTTING UP ALL THE ideas on the wall


refine down to the best by
giving each person a few votes

using small
post-its
Step 4: Prototype

Quickly prototype 1-3 possible


Working solutions to the problem

Paper sketches or wireframes are


often sufficient here

If it’s a physical product, use a
workshop to create a basic version
Step 4: Prototype

Simpler prototypes are


OFTEN BEST FOR ALLOWING

RAPID learning
and iteration
Step 5: TEST

Now test the prototypes with


Actual potential customers

See what they think


Then make it better
Step 5: TEST

Keep iterating designs & Improving


Until you can convince customers

To pay for
what you’ve built
THE LEAN STARTUP PROCESS

THE LEAN STARTUP PROCESS


IS ANOTHER INNOVATION PROCESS
Designed to lead to
QUICK LEARNINGS & RESULTS
THE LEAN STARTUP PROCESS
The benefits of the leAn startup method

1. Fast testing + learning


2. Low cost
3. Fail fast and pivot quickly
THE downsides of the LEAN STARTUP PROCESS

1.  Often doesn’t allocate enough time to the


brainstorming process (go straight from idea to
build)

2.  Can focus too much on finding “anything that


customers will pay for” rather than solving a
problem that matters in the world
Lessons from my 20s

PART II, Section 7

VENTURE
CAPITAL
Venture Capital

IF POSSIBLE TRY TO
GET AS FAR AS YOU CAN
WITHOUT RAISING
OUTSIDE CAPITAL
Venture Capital

IN THE BEGINNING
DO WHATEVER IT TAKES
TO KEEP COSTS LOW
Venture Capital

In a b2b business
Focus on getting
Revenue from customers
Venture Capital

You’ll have a higher


Chance of success if you
Get paying customers
before raising outside $$
(or at least 10,000+ users)
Venture Capital

The biggest mistake


Entrepreneurs make
Is raising too much
Before they are ready
Venture Capital

AT ICONTACT
WE BOOTSTRAPPED
FOR THE FIRST 3 years
Venture Capital

AT CONNECT
WE BOOTSTRAPPED
FOR THE FIRST 2 years
What is bootstrapping

Bootstrapping means
Operating without
Raising Outside capital
What is bootstrapping

Most companies should


Bootstrap for 12-36 mos
before they are ready
For outside capital
What is bootstrapping

If you don’t have a product


Yet, you definitely should
Not be raising
VENTURE capital
(except!in!very!capital!intensive!businesses!like!drug!discovery)!
Test demand before raising money by creating an
inexpensive prototype and then improve until
customers love your product
Venture Capital

WHERE TO LOOK
DEPENDS ON HOW MUCH
YOU NEED AND HOW FAR
ALONG YOU ARE
The different types of capital available by stage
Sources of Funds <$50k $50k-$500k $500k to $1m $1m to $5m $5m to $25m $25m to $100m >$100m
Side jobs Yes
Credit cards Yes Yes
Your savings Yes Yes if available
Friends & family Yes Yes if available
Kickstarter Yes Yes Yes
Indiegogo Yes Yes Yes
Fundable Yes Yes Yes
AngelList Yes Yes Yes Yes
Angel investors Yes Yes Yes
Banks Yes Yes Yes Yes
Super angels Yes Yes Yes
Seed stage VC Yes Yes Yes Yes Yes
Growth stage VC Yes Yes Yes
Mezzanine debt Yes Yes Yes
Late stage VC Yes Yes
Private equity Yes Yes
Public markets Yes
PIPES Yes
Corporate bonds Yes
Angel rounds

angellist
Is the best place
To fund early stage
Angel investors
The power of angellist

In june 2008
Connect raised $2.8M
From investors on angellist
Like jason calacanis, brad feld,
And scot and cyan banister
The power of angellist

Angels often act in packs


So it is useful to secure a
Lead Angel investor
Who will set the terms
Before reaching out widely
Syndicates

Top angels have packs of


Other angels who follow them
And invest in what they invest in
These are called syndicates
Venture Capital

fundable
Is another good place
To find early stage
Angel investors
entrepreneurshi
p!
Convertible notes

A convertible note
Is a loan that converts
Into equity at your Next fundraise
usually at a discount
To the future price
Convertible notes

Most early stage seed


Deals in silicon valley
Are now done as
Convertible notes
The Key Terms of a Convertible note

Amount invested
Discount rate
Valuation cap
Pro rata rights
Interest rate
Venture Capital

In a b2b business
AVOID RAISING MORE
THAN 10x your current
ANNUALIZED REVENUE
Venture Capital

So if your current
Annual revenue run rate
Is $500k
Raise up to $5M
Venture Capital

if your current
Annual revenue run rate
Is just $30k
Focus on increasing sales
Not raising capital
Venture Capital

If you raise too much


Your monthly expenses
Will get too far ahead
Of your revenue
Venture Capital

And when monthly expenses


ExceeD revenue by too much
You go bankrupt
Raising an angel round

For b2b software companies The right


Time To RAISE An angel round is when
You have a working product AND

At least 5 paying customers


Raising an angel round

For b2C applications The right


Time To RAISE An angel round is when
You have a working product AND

At least 1000 daily users


Your negotiating power is based on

LEVEL OF NEED FOR THE MONEY


YOUR EXPERIENCE
YOUR TEAM
PRODUCT & TECHnOLOGY
COMPETITION
OTHER TERM SHEETS
QUALITY OF YOUR ADVISORS
The most important investment terms
VALUATION $ THE HIGHEST VALUATION Isn’T ALWAYS BEST

OPTION POOL SIZE


LIQUIDATION PREFERENCES
FOUNDER REVESTING
PREFERRED VETO RIGHTS
TYPE OF PREFERRED STOCK
BOARD SEATS
Factors in Selecting Your INvestors

CHEMISTRY WITH THE PARTNER


OPERATIONAL EXPERIENCE
CURRENT PORTFOLIO ALIGNMENT
PARTNER/FIRM EXIT RESULTS
EXECUTIVE RECRUITING ABILITY
TERMS OF INVESTMENT
TECH PRE-REVENUE VALUATION GUIDELINES

$1m to $25m PMV depending on Factors like


•  CEO Past exits
•  TEAM EXPERIENCE
•  NUMBER OF USERS
•  NUMBER OF ENGINEERS
•  LOCATION OF COMPANY
X2 if you’re in silicon valley
Pre-Revenue Valuation example

b2c tech COMPANY RUN BY FIRST TIME ENTREPRENEUR


with 1 engineer

Pre-Money Valuation: $1m-$3m


Pre-Revenue Valuation example

b2c tech COMPANY RUN BY FIRST TIME ENTREPRENEURS


who have been through y combinator with a good
idea AND 2 engineers

Pre-Money Valuation: $5M-$10M


Pre-Revenue Valuation example

INCORPORATED tech COMPANY run By experienced CEO


with 10 years c-level experience, $100m prior Exit,
& 5 engineers

Pre-Money Valuation: $10m-$25m


Raise a Seed round or series A?
Typical Seed Round Company Typical Series A Company
Employees 1-10 10-50

Time since incorporation 6 months-2 years 2-5 years

Traction if consumer Working product, pre-launch up to Over 100,000 DAUs


100,000 Daily Active Users
Traction if enterprise $0 to $50k/monthly revenue $50k to $500k in monthly revenue

Valuation range in $3M to $15M $10M to $60M


Silicon Valley

Valuation range $1M to $7M $5M to $30M


elsewhere
post-Revenue Valuation GUIDELINES

AS YOU GO ABOUT FUNDRAISING


YOU USUALLY WANT TO CREATE
A COMPETITIVE PROCESS
post-Revenue Valuation GUIDELINES

BUILD a series A FUNDING


PROCESS TO ENSURE
YOU RECEIVE
MULTIPLE TERM SHEETS
post-Revenue Valuation GUIDELINES

RAISE MONEY only from


SMART PEOPLE YOU REALLY LIKE
You’LL BE MARRIED to
Them FOR THE NEXT
3-10 years
Best venture funds in my opinion
Andressen horowitz
Sequoia
Kleiner perkins
accel
Benchmark
greylock
Nea
Bessemer
Google ventures
Founders fund
post-Revenue Valuation GUIDELINES

WAIT TO RAISE your series a


UNTIL You HAVE PROVEN
MATHEMATICALLY THAT X DOLLARS
SPENT BRINGS Y DOLLARS BACK
Ryan’s three rules of entrepreneurship

1.  Create products customers love (by


overinvesting in UX testing!)
2.  Spend 1/3rd of your time recruiting
excellent people
3.  Don’t raise venture capital until you
have proven customer demand
Timing of icontact fundraises

Annual Capital Pre-money Post-money


Date Capital raised revenue source Capital type valuation valuation
Jun 2003 $5k $5k Friend Loan N/A N/A

May 2006 $500k $1.5m IDEA Fund Seed stage $16m $16.5m

Jun 2007 $5.3m $5.5m Updata Series A $27m $32.3m

Aug 2010 $25m $38m JMI Equity Series B $100m $125m

Feb 2012 N/A $49M Vocus Sale of $170M N/A


Company
Lessons from my 20s

PART II, Section 8

marketing
What is a brand?

A BRAND IS SIMPLY THE


AGGREGATEd SUM TOTAL
OF EVERY Human BEING’S
EXPERIENCE WITH YOUR
COMPANY & PRODUCTs
A good brand name

1 or 2 syllables
Easily spellable
Easily pronounceable
marketing

GOOD MARKETING IS JUST


GOOD STORYTELLING
ACROSS MULTIPLE MEDIA
IN A TRACKABLE AND FINANCIALLY
SCALABLE MANNER
marketing
MARKETING IS GENERATING
AN INTERESTED LEAD
SALES IS TURNING THE
LEAD INTO A CUSTOMER
And ACCOUNT MANAGEMENT IS
TURNING A CUSTOMER INTO
A LIFETIME EVANGELIZER
marketing

IN TODAY’s WORLD
MARKETING STARTS
WITH your PRODUCT
marketing

YOU Can’T SUCCEED


MARKETING A CRAPPY
PRODUCT FOR LONG
marketing

SO IF You’re marketing
A CRAPPY PRODUCT
STOP
marketing

AND PUT YOUR FUNDS


INTO BUILDING A
GREAT PRODUCT
marketing

THEN WHEN YOU HAVE


A GREAT PRODUCT
START STORYTELLING
The 6 keys to success with marketing
1.  AMAZING WORD OF MOUTH FROM A GREAT PRODUCT
2.  KNOWING THE LIFETIME VALUE OF A CUSTOMER
3.  A TRACKING SYSTEM THAT CAN TELL YOU COST PER LEAD,
cost per customer/user, and CONVERSION RATE PER
CHANNEL
4.  CONSTANT TESTING OF NEW CHANNELS, CREATIVE, AND
FUNNEL PROCESSES
5.  GREAT STORYTELLING
Always be testing

10% of your MONTHLY


Advertising budget
Should be spent on
TESTING NEW CHANNELS
Know your CAC

You don’t
KNOW YOUR CUSTOMER
ACQUISITION COST?
ARE YOU SERIOUS?
Know your LTV

You don’t
KNOW YOUR
Customer LTV?
ARE YOU SERIOUS?
Know your LTV

ROUGH EXAMPLE
DETERMINING WHAT YOU CAN
SPEND TO ACQUIRE A NEW
RECURRING CUSTomER
Lifetime What You Can Spend to
Monthly Revenue Average Customer Life
Revenue Acquire a New Customer

Recurring
Customer $50 48 Months $2400 Up to $800
Know your LTV

ANOTHER ROUGH EXAMPLE


DETERMINING WHAT YOU CAN SPEND
TO ACQUIRE A NEW CUSTomER
Average Number of What You Can Spend
Average Purchase 3 Year Revenue
Purchases Within 3 to Acquire a New
Price Estimate
Years Customer

Non-recurring
Billed Customer $50 6 $300 Up to $100
Know your LTV

SCALE YOUR AD BUDGET


SCIENTIFICALLY BY
TRACKING LEAD ACQUSITION COST
& CONVERSION RATE
BY ADVERTISING CHANNEL
Online Marketing channels

SEO – GOOGLE, YAHOO, BING


PPC - GOOGLE Adwords / BING ADCENTER
SOCIAL PRESENCE – FACEBOoK, TWITTER, youTUBE
SOCIAL ADS – FACEBOOK, TWITTER, Youtube ADS
DISPLAY – BANNER ADVERTISING
AFFILIATES – CJ & LINKSHARE
Review SITES – YELP, CITYSEARCH, GOOGLE LOCAL
DAILY DEALS – GROUPon & LIVINGSOCIAL
EMAIL FOLLOWUP – iCOntact & MAILCHIMP
MOBILE advertising channels

Facebook CPI Ads nativex


Twitter CPI Ads Adcolony
TapJoy Fyber
ChartBoost Flurry
Vungle APPIA
Fiksu Admob
Offline advertising channels

TELEVISION DIRECT MAIL


PRINT ADVERTISING TRADESHOWS
RADIO EVENT SPONSORSHIPS
YELLOW PAGES BILLBOARDS
buses CAMPUS REPS
Offline advertising channels

THE KEY IS TO TEST


ALL OF THE CHANNELS
AND TRACK THE
ACTUAL RESULTS
FROM EACH ONE
To grow your sales & Acquire more customers
CALCULATE CPL & COnVERSION RATE BY CHANNEL
DETERMINE WHAT YOU CAN PAY PER NEW CUSTOMER
TEST NEW ADVERTISING CHANNELS SCIENTIFICALLY
CREATE A PREMIUM VERSION OF YOUR PRODUCt
TEST DOUBLING YOUR PRICE AND SEE WHAT HAPPENS
GET MORE AFFILIATES/DISTRIBUTORS
OPEN UP MORE SALES OFFICES
OPEN UP MORE RETAIL LOCATIONS
BUILD ADDITIONAL PRODUCTS
HIRE MORE SALES PEOPLE
HIRE SOMEONE TO SELL MORE TO EXISTING CUSTOMERS
RAISe CAPITAL AND EXPAND YOUR ADVERTISING
Why most startups fail

1.  Co-founder issues


2.  Product doesn’t solve a real problem
3.  Never charge for product
4.  Poor sales and marketing
Icontact revenue growth
$50,000,000

$40,000,000

$30,000,000

$20,000,000

$10,000,000

$0
2003 2004 2005 2006 2007 2008 2009 2010 2011
Icontact customer growth
70000

60000

50000

40000

30000

20000

10000

0
2003 2004 2005 2006 2007 2008 2009 2010 2011
Connect User Growth six months after launch
1,000,000

900,000

800,000

700,000

600,000

500,000

400,000

300,000

200,000

100,000

0
Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14
Primary icontact customer acquisition channels

1.  Google AdWords


2.  Facebook Ads
3.  Affiliate Program
4.  Banner Ads
Google adwords
Facebook Ads
Doubleclick Ad manager
Commission junction
Track your customers by channel

Set up Google Analytics so you can


calculate your customer acquisition
cost by marketing channel
Google Analytics
Track your iusers by channel

Set up Mobile App Tracking (MAT)


so you can calculate your user
acquisition cost by mobile ad network
Unit economics

It is extremely important to
Understand the unit economics
Of your business
Understanding Unit economics

Unit economics include the lifetime value of


Each new customer to your business (LTV)
As well as the customer acquisition cost (CAC)
A definition of lifetime value

Lifetime value (n)


How much a customer is worth to you
in revenue throughout their time as a
customer with your company.
Icontact ltv example

Avg. Monthly Rev Per Customer = $50


Avg. Monthly Churn = 3.3%
Avg. Customer Life = 30 Months

LTV = ? 50 x 33 = $1500
How much to spend on marketing

You can spend about 1/3rd of your LTV in sales and


marketing expenses to acquire a customer

If LTV = $1500
Max CAC = $500
Example of calculating cac

Total Sales & Marketing Expenses


CAC =
Total Customers Acquired in a Month
$2,000,000
=
4000

= $500
Sales teams

When should you create a


sales team?
When your product or service costs over over
$500/mo, or $5k total.
Lessons from my 20s

PART II, Section 9

CREATING
systems
A quote

“Achievement comes to someone when he is able to


do great things for himself. Success comes when he
empowers followers to do great things with him.
Significance comes when he develops leaders to do
great things for him. But legacy is created only when
a person puts his organization into the position to do
great things without him.”
-JOHN C. MAXWELL
Systems

SYSTEMS ARE A
COLLECTION OF
PROCESSES THAT RUN
WITHOUT YOU
Examples of Systems
PERFORMANCE REVIEWS MARKETING TESTING
OFFICE FOOD DELIVERY RFP MANAGEMENT
NEW EMPLOYEE TRAINING EXPENSE REIMBURSEMENT
DOWNTIME NOTIFICATION HARDWARE SETUP
OPERATIONS REVIEWS TAX DOCUMENTATION
PRODUCT FEEDBACK LEGAL CONTRACTS
PURCHASE ORDERS 360 FEEDBACK
FINANCIAL PLANNING JOB DESCRIPTIONS
PAYROLL EXTERNAL COMMUNICATIONS
CLIENT SATISFACTION INTERNAL COMMUNCIATIONS
VACATION REQUESTS ACCOUNTING
Systems

AFTER THE FIRST two years


Your success is DETERMINED
MORE BY THE PEOPLE YOU HIRE
THAN BY YOU
SO STOP TRYING TO DO
EVERYTHING
Systems

FOR A BASIC ACCOUNTING


SYSTEM WE USE
QUICKBOOKS ONLINE
Systems

BE SURE TO TRACK
YOUR BOOKS ACCURATELY
FROM THE BEGINNING
Systems

AND ALWAYS
SEPARATE PERSONAL AND
BUSINESS EXPENSES
Systems

Investors don’t
Invest in systems
That go home at night!
Systems

To create a great
Organization You must
Build a system to
CULTIVATE GREATNESS
In others
systems

ONCE YOU GET pAST


20 EMPLOYEES
CONDUCT ANNUAL ONLINE
360° Reviews
systems

MAKE SURE YOUR


INCENTIVE STRUCTURE
incentivezes
THE RIGHT GOALS
Business lessons Learned

GIVE IMMEDIATE
AND SPECIFIC FEEDBACK
MORE OFTEN
Lessons from my 20s

PART II, Section 10

Building a
team
Building a team

Make sure you’re PASSIONATE ABOUT


WHAT YOU ARE LEADING YOUR TEAM
TOWARD ACCOMPLISHING. IF You’RE NOT
PASSIONATE ABOUT ACHIEVING THIS GOAL
YOU ARE LEADING THE
WRONG ORGANIZATION
Building a team

SURROUND YOURSELF WITH PEOPLE


SMARTER THAN YOURSELF
PEOPLE WHO HAVE HIGH INTEGRITY
AND PEOPLE PASSIONATE ABOUT
ACHIEVING THE SAME GOAL YOU
ARE PASSIONATE ABOUT
Building a team

ONLY HIRE SOMEONE AS A


DIRECT REPORT IF HE OR SHE
CAN DO THEIR JOB
2x BETTER THAN
YOU COULD
Building a team

NEVER HAVE MORE


THAN
SEVEN DIRECT REPORTS
SIX if you have to manage the Board of Directors as well
Building a team

MAKE SURE YOU AND YOUR TEAM ARE COMPLETELY


CLEAR ON WHAT YOU ARE TRYING TO ACHIEVE,
BY WHEN, the definition of success, and why
WHAT you’re trying to achieve

MATTERS IN THE WORLD


Building a team

Many leaders HAVE A VISION


But don’t COMMUNICATE IT
Don’t make this mistake
Building a team

PAINT A CLEAR VISION AND COMMUNICATE IT


SUCCINTLY, VISUALLY, BROADlY, and REPEATEDLY.
KNOW WHERE YOU ARE GOING AND THEN

LEAD PEOPLE THERE


Building a team

YOUR JOB IS TO DEFINE OBJECTIVE SUCCESS FOR


EACH OF YOUR DIRECT REPORTS AND THEIR JOB
IS TO DEFINE SUCCESS FOR EACH OF THEIR

DIRECT REPORTS
Building a team

INTEGRATE SUCCESS FOR THE INDIVIDUAL


TOWARD HIS OR HER OWN LIFE GOALS
WITH SUCCESS FOR THE PROJECT

AND THE COMPANY


Building a team

DEFINE SUCCESS
QUANTITATIVELY
THEN TRACK IT ON A

Real-time MONITOR
Visible to all team members
Building a team

MAKE SURE YOUR TEAM KNOWS THAT TRUE LEADERS


MAKE A COMMITMENT TO ENSURING THAT THE PERSON
WHO FOLLOWS THEM IS BETTER THAN THEY WERE
ASK EACH TEAM MEMBER TO IDENTIFY AND TRAIN THEIR
BEFORE EVER LEAVING THE TEAM and in exchange
YOU WILL NEVER SURPRISE THEM WITH TERMINATION
Building a team

ASK YOUR TEAM TO NEVER


LET SOMETHING IMPORTANT
GO UNSAID
Building a team

LISTEN & proACTIVELY


SEEK OUT INFORMATION
FROM YOUR TEAM
Building a team

GOOD LEADERS
SEEK OUT & ASK FOR
UNPOPULAR OPINIONS
FROM THEIR TEAM
Building a team

ALWAYS TAKE THE TIME


TO EXPLAIN THE
MENTAL MATH BEHIND
YOUR DECISIONS
Building a team

IF YOU WANT TO ACHIVE


A DIFFICULT GOAL
CREATE An INCENTIVE PRIZE
WITH CLEAR GUIDELINES
AND PUBLICIZE IT
(Why hackathons & XPRIZE work so well)
Building a team

EVERY MEMBER OF
YOUR TEAM
SHOULD HAVE A
SIGNIFICANT PORTION
OF THEIR COMPENSATION
TIED TO pre-DEFINED
COMPANY SUCCESS METRICS
Building a team

TREAT your PEOPLE


WITH RESPECT
AT ALL TIMES
Building a team

WORK HARD &


ALONGSIDE
YOUR TEAM
Building a team

DON’t be
TOO SERIOUS
(Life is short. Have fun with what you’re doing)
Building a team

MAKE SURE EVERYONE


KNOWS THEY CAN
TALK TO YOU
ANYTIME
Building a team

BUILD CARING
RELATIONSHIPS WITH
YOUR DIRECT REPORTS
Building a team

COMMEND
MORE THAN
YOU CRITICIZE
Building a team

CONsCIOUSLY
BUILD AN
AMAZING CULTURE
Building a team

create an environment in which


Each team Member can do the
Most Inspired work
Of their lives
A startup ceo’s role includes

VISION CULTURE
STRATEGY LEADERSHIP
PRODUCT CREATION TEAM RECRUITING
FINANCING OPERATIONS
MEDIA RELATIONS BOARD RELATIONS
The role of the ceo

As you grow, you’ll hire experienced


People for each of the major roles
Like sales, marketing, recruiting, HR,
engineering, design, operations,
product & customer support
You can recruit via

Your c-level team


SHOULD BE
EXCLUSIVELY
MADE UP OF JEDIS
The role of the later stage ceo

1.  Set strategy & vision


2.  Set production direction
3.  Recruit & lead senior team
4.  Oversee resource allocation
5.  Communicate to stakeholders
6.  Build a great culture
The role of the ceo

Your role as CEO is not to micromanage


It’s to hire people more experienced
than you in their areas and provide the

big picture
GREAT CEOS are good at

Public speaking
Connecting deeply with team
Sharing their passion
Raising funding
Understanding customer needs
My Favorite interview questions to ask
WHAT ARE YOU PASSIONATE ABOUT?
TALK ABOUT SOME OF THE EXPERIENCES IN LIFE
THAT HAVE BEEN VERY CHALLENGING
WHAT CHANGE DO YOU WANT TO MAKE IN THE
WORLD IN YOUR LIFE TIME?
IF YOU MET AN ALIEN, HOW WOULD YOU
DESCRIBE YOURSELF?
TELL ME ABOUT YOUR FAILURES
TELL ME ABOUT THE GOALS YOU HAVE
You can recruit via

EXISTING EMPLOYEE REFERRALS


COMPETITORS
linkedin
Hired/angelList
YOUR INVESTORs’ CONTACTS
CORPORATE RECRUITERS
PRESS PICKUPS
The best team

THE BEST TEAM


MEMBERS ARE OFTEN
THE ONES WHO ARE CURRENTLY
EMPLOYED
Let people go who aren’t working out

IF SOMEONE ISN’T WORKING


OUT LET THEM GO AND
FREE THEM UP TO DO
SOMETHING THEY
ARE GOOD AT
Building connection & Familiarity within your team

HERE ARE 4 retreat


Exercises that are
Worthwhile to do with
Your team
Team Retreat
Exercises
Exercise 1: Inner and outer story
ASK each TEAM member TO share:
1. 120 seconds - ACCOMPLISHMENTS and resume (OUTER STORY)
2. 240 seconds – YOUR HIDDEN INNER STORY
Deep down inside what do you worry about?
What are you insecure about?
WHAT HAVE YOU STRUGGLED WITH MOST IN THE LAST 2 years?
What are you afraid of BEHIND THE FAÇADE?

FOR A SUCCESSFUL EXERCISE, BE SURE TO TAKE THE TIME TO Create a setting of confidentiality and
openness to being vulnerable
Exercise 2: the change you wish to make
1.  HAVE EACH team member SPEND 5 minutes to think about and then
WRITE DOWN in NO MORE THAN 10 words THE ANSWER TO: “what
change do you want to make in the world WITH YOUR LIFE?”
2.  Then have each person share their 1 sentence with the group
3.  THEN have EACH PERSON ONE AT A TIME STAND UP AND ANSWER THE
QUESTION “WHY DO YOU DO WHAT YOU DO?” For 4 minutes
For a successful exercise
•  If the speaker finishes talking before the 4 minutes is up, ask them the question again
and have them answer it again
•  Don’t allow any other question to be asked during the 4 minutes
Exercise 3: Pivotal moments
1.  HAVE EACH PERSON WRITE DOWN 4 pivotal moments in
their life
2.  HAVE EACH PERSON SHARE THE 4 pivotal moments and
how they handled them and dealt with them with
the group
FOR A SUCCESSFUL EXERCISE
•  CREATE AN ENVIRONMENT OF CARE AND CONFIDENTIALITY
Exercise 4: Crucible moments
1.  PAIR OFF INTO TWOs IN A QUIET LOCATION
2.  HAVE ONE PERSON TAKE 5 minutes to share the story of the
most difficult and vulnerable MOMENT IN THEIR LIFE
3.  HAVE THE PARTNER ASK EXACTLY 3 follow-up questions
4.  THEN SWITCH ROLES
FOR A SUCCESSFUL EXERCISE
•  ALLOT AT LEAST 30 minutes for the exercise as the exercise can
bring up difficult emotional situations that require time to
process BEFORE THE SESSION CONTINUES
Lessons from my 20s

PART II, Section 11

Strategy &
Execution
strategy

Your strategy should be


TO BE THE BEST in the world
AT ONE THING
So CHOOSE CAREFULLY
strategy

STRATEGY IS THE COLLECTION


OF UNIQUE PROCESSES
THAT WORK IN UNISON
TO ENABLE YOUR FIRM TO
BE THE BEST IN THE WORLD
AT ONE THING
strategy

STRATEGY IS
ABOUT
TRADEOFFS
YOU MUST CHOOSE WHAT NOT TO DO
strategy

STRATEGY INVOLVES CHOOSING TO


PERFORM ACTIVITIES DIFFERENTLY

THAN others
strategy

NEVER CREATE STRATEGY


IN A ROOM OF MORE THAN
FIVE PEOPLE CEO
Head of Product
Head of Technology
CHOOSE FIVE
Head of Sales
Head of Service
Head of Marketing
Head of OPERATIONS
Operational execution

At your quarterly
Planning sessions
with your senior team See an example at:
bit.ly/1pagestrategy

Update your one-page


strategic plan
Operational execution

BUILD CONSENSUS WITH A


SMALL CORE
BEFORE YOU SHARE WIDELY
Operational execution

ONCE YOU ALIGN THE CORE


ALIGN THE NEXT LAYER
THEN THE NEXT
THEN THE NEXT
Operational execution

WAY TOO MUCH TIME


IS SPENT in
MEETINGS
Operational execution

At your company ADOPT a


MAKER’S SCHEDULE
See: www.paulgraham.com/makersschedule.html
Operational execution

Engineers and creatives


Need at least 4 hour blocks
Of Uninterrupted time
To get anything done
(so stop overscheduling them in meetings)
Operational execution

At most Have one


daily standup meeting
In which you actually stand
So it takes less than 15 mins
Operational execution

Once your company


gets beyond 30 employees
hire a COO to keep the trains
running on time and to focus on cross
department projects & metrics
Operational execution

All creative or technical CEOs


Need a really good

Ops Person
Operational execution

Create numerical goals in advance


with each of your team members
Hold them accountable to the goals
not to methodology!
Operational execution

Hold a quarterly 2-day


planning sessions each
quarter and an annual
4 day team retreat
Operational execution

ONCE YOU AND YOUR TEAM HAVE YOUR PLAN


COMMUNICATE IT in A MEMORABLE
WAY WITH VISUAL AND NUMERICAL
REINFORCEMENT TO THE FULL TEAM
THEN FOCUS ON EXECUTING WITH
FANATICal DISCIPLINE &
RECOMMUNICATE AND REINFORCE AT LEAST
MONTHLY
Operational execution

HOLD PEOPLE ACCOUNTABLE TO


PRE-DEFINED MEASURABLE RESULTS
NOT TO THEIR METHODOLOGy
AS LONG AS THEY ARE TREATING
PEOPLE WELL
Operational execution

ONCE YOU’RE CLEAR ON STRATEGY DON’T SKIMP


ON OPERATIONALIZING THE STRATEGY PLAN
TEAMS IN LARGER COMPANIES GET OFF TRACK HERE
FIGURE OUT WHAT RESOURCES ARE NEEDED TO
ACHIEVE TEAM GOALS AND FIGURE OUT THE METRICS
THAT ENABLE THE FOCUS NECESSARY AND TRACK

THEM VISUALLY
Operational execution

Track your key


metrics visibly on a
real time dashboard
Operational execution

SHOW results for up to 5 COMPANY-wide goals


IN REAL TIME AND ON A MOUNTED AND VISIBLE MONITOR
MAKE YOUR RESULTS AND KPIS VISIBLE AND CLEAR
BE TRANSPARENT to your full company and

MEASURE what MATTERS


Operational execution

CONSTANTLY be TESTing.
As jim collins says
FIRE BULLETS TO FIND WHAT WORKS
SEE WHAT WORKS
THEN FIRE CANNONBALLS
When to hire key team members

Office Manager/EA 10 employees


CFO 20 employees
COO 30 employees
Dir of HR 40 employees
Operational execution

PART OF THE CEO’s JOB


IS TO FIND & HIRE PEOPLE
WHO CAN DO THEIR ROLES
MUCH BETTER
THAN THE CEO COULD
Operational execution

WHEN YOU SEE


SOMEONE DOING A GOOD JOB
TELL THEM!
Operational execution

THERE IS GREAT POWER


IN DEADLINES
CREATE SOME!
What a CEO Does in Year one
Team Size Key Actions
1-3 •  It’s all you to start.
•  Incorporate and get an EIN.
•  Get a bank account.
•  Find a business partner with a complementary skillset if needed.
•  Make sure you have $25,000 saved up to get started
•  Focus on product development and getting something to market
that solves a customer need.
•  Create something of value to others and sell, sell, sell!
•  Get customer feedback and use it to make your product better.
What a CEO Does in year two
Team Size Key Actions
4-9 •  Do all you can to enable the company to survive
•  Build an Advisory Board
•  Hire your first employees
•  You should be in charge of product or sales or both
•  Set up a basic low cost office space
•  Outsource your payroll

What a CEO Does in year THREE
Team Size CEO Role
•  Hire an outside bookkeeper/accountant to produce monthly financial statements by the
10-25 20th of the following month
•  Put real time visible dashboards in place
•  Everyone won’t report to you anymore.
•  Start putting managers in place.
•  Figure out your unit economics and consider raising funding to invest in growth.
•  Hold a weekly meeting with either the whole company or all the key operational individuals
•  Hire people more experienced that yourself for the role you are hiring for, even if you have
to wait a bit longer to be able to afford them.
•  Keep the organization focused on selling and growing.
•  Put in place an employee handbook
•  Define your values
•  Define your mission and vision
•  Put in place a formal performance review process and ensure a manager conversation and
performance review is completed at least every 12 months, including 360 reviews in which
peers and staff review their managers.
•  Set up an options plan
•  Install a CRM system
What a CEO Does in year Four
Team Size Key Actions
•  Start a weekly meeting with your Senior Leadership Team, Leadership Team, and Managers
26-50 •  Start a weekly meeting with just your Senior Leadership Team
•  Hire a COO, Controller or CFO, a Director of Human Resources, and an Administrative
Assistant.
•  Make sure your Controller/CFO begins providing monthly accurate financial statements
to you by the 20th of the following month in GAAP format and Managerial format
•  Document your systems and processes in an employee handbook.
•  Set KPIs and have your team report on them weekly.
•  Put in place documented incentive compensation systems.
•  Think about creating systems to ease internal employee communication, like internal wikis,
company meetings, external events, and retreats.
•  Start using a One Page Strategic Plan with a quarterly theme.
•  Have formal annual planning meetings to set or communicate both strategy and budgets
for the upcoming year.
•  Start investing consciously in shaping your company culture.
•  Start investing consciously in managerial and leadership development courses for your
managers and future managers.
•  Hire an Auditor to audit your annual financial statements
What a CEO Does in year Five and six
Team Size Key Actions
•  Define your company’s hedgehog concept (what you can be the best in the world at, what
51-200 you’re passionate about, what drives your economic engine?)
•  Implement The Five Dysfunctions of a Team Material throughout the organization
•  Launch a formal corporate social responsibility program
•  Start thinking about what new markets your organization can go into the future and figure
out what your next product cycle will be
•  Think about what the next big thing will be in your broad industry and position your
company to be the leader in it
•  Start top-grading your people and letting go of the bottom 10-20% annually
•  Constantly ask yourself what will be driving revenue growth most in 24 months?
•  Put in place a system that will enable you and your leaders to know everyone’s name
•  Launch an HRIS to automate your human resources functions like talent recruitment,
performance management, compensation, and employee training.
•  Implement the Service Profit Chain from Peak
•  Switch to a Big 4 Auditor
•  Launch a Corporate Development Department
•  Hire an Investment Bank If Needed to Evaluate M&A opportunities
What a CEO Does in year SEVEN AND EIGHT
Team Size CEO Role
200+ •  Consider scaling yourself by separating the organization into
different business units with GMs or Presidents
•  Your role is now divided into five parts, described below.
•  Set Strategy and Vision
•  Manage the Senior Team
•  Communicate with Stakeholders
•  Oversee Resource Allocation
•  Build the Culture
Recommend Books on Execution

1.  Good to Great by Jim Collins


2.  Built to Last by jim collins
3.  Execution by Ram Charan
4.  Peak by Chip Conley
5.  Mastering the Rockefeller Habits by Verne Harnish
6.  The Future of Management by Gary Hamel
Lessons from my 20s

PART II, Section 12

the steps to
get started
100 Steps in review

1.  FIGURE OUT WHAT CHANGE you WANT TO MAKE IN THE WORLD
2.  BEGIN RESEARCHING THE INDUSTRY AND COMPETITORs
3.  DETERMINE HOW TO CREATE YOUR PRODUCT
4.  TALK TO POTENTIAL CUSTOMERS FOR FEEDBACK
5.  COME UP WITH NAME FOR YOUR COMPANY/PRODUCT
100 Steps in review

6.  BUILD YOUR PITCH DECK


7.  CREATE PRO FORMA FINANCIAL PROJECTIONS
8.  DETERMINE CAPITAL NECESSARY TO GET TO CASH
FLOW POSITIVE
9.  GET FEEDBACK ON PITCH DECK FROM ADVISORS
10. FIND A CO-FOUNDER IF NEEDED
100 Steps in review

11.  SELECT A QUALITY CORPORATE LAW FIRM IN YOUR AREA


12.  INCORPORATE & OBTAIN AN EIN
13.  OPEN A COMPANY BANK ACCOUNT
14.  TALK TO YOUR ATTORNEY ABOUT MAKING an 83b election
15.  BUILD BASIC PRODUCT PROTOTYPE/Minimum viable
product
100 Steps in review

16.  CREATE EMPLOYEE AGREEMeNTS FOR EVERYONE


17.  CREATE CONFIDENTIALITY AGREEMENTS FOR
EVERYONE
18.  HOLD INITIAL BOARD OF DIRECTORS MEETING
19.  CREATE YOUR RSU/STOck options plan
20.  ISSUE STOCK CERTIFICATES
100 Steps in review

21.  FUND YOUR BANK ACCOUNT AND ORDER CHECKS


22.  DETERMINE IF YOU NEED OUTSIDE CAPITAL TO
START
23.  RAISE ANY INITIAL STARTUp CAPITAL NEEDED
24.  GET A COMPANY DEBIT/CREDIT CARD
25.  SET UP YOUR ACCOUNTING SOFTWARE
100 Steps in review

26.  SELECT YOUR PAYROLL PROVIDER


27.  TRADEMARK THE NAME(S) of your company /
Product
28.  DESIGN YOUR LOGO
29.  CREATE BUSINESS CARDS
30.  FIND OFFICE SPACE TO WORK OUT OF
100 Steps in review
31. FURNISH YOUR OFFICE AS NEEDED
32. PURCHASE ANY SOFTWARE/HARDWARE YOU WILL
NEED
33. GET WIRELESS INTERNET ACCESS SETUP AS NEEDED
34. OBTAIN A UPC IF YOUR PRODUCT WILL BE SOLD IN
STORES
35. DESIGN LABELING/PACKAGING IF NECESSARY
100 Steps in review

36.  FINISH PRODUCT ALpHa/PROTOTYPE


37.  GET INITIAL USER/CUSTOMER FEEDBACK
38.  ORDER INITIAL INVENTORY OF PRODUCTS IF NEEDED
39.  REGISTER YOUR DOMAIN NAME
40.  DESIGN YOUR COMPANY WEB SITE
100 Steps in review
41.  INSTALL GOOGLE ANALYTICS ON YOUR WEB SITE
42.  IF NEEDED, INSTALL SHOPPING CART ON WEB SITE
43.  APPLY FOR MERCHANT ACCOUNT TO ACCEPT CREDIT CARDS
44.  SIGN UP FOR EMAIL LIST TOOL like icontact or
mailchimp
45.  Optimize your web site for search engines & ADD
BLOG
100 Steps in review

46.  INSTALL A CRM SYSTEM


47.  HIRE INITIAL STAFF AS NEEDED
48.  CREATE COMPANYV ALUES & MISSION STATEMENT
49.  ANNOUNCE PROCUCT LAUNCH TO LOCAL/RELEVENT
MEDIA
50.  HOLD LAUNCH EVENT & START SELLING
100 Steps in review

51.  HIRE A TEAM TO FULFILL ORDERS & PROVIDE


CUSTOMER SERVICE
52.  START An AFFILIATE OR DISTRIBUTOR PROGRAM
53.  BUILD UP AFFILIATES & DISTRIBUTORS
54.  SET UP An AD TRACKING SYSTEM
55.  TRY CPC/CPI/CPA ADVERTiSING WITH TEST BUDGET
100 Steps in review

56.  GET RESULTS FROM THIS ADVERTISING


57.  OPTIMIZE AND SCALE AS NEEDED
58.  DETERMINE COST OF ACQUISITION A LEAD FOR EACH
CHANNEL
59.  DETERMINE CONVERSION RATE FOR EACH CHANNEL
60.  DETERMINE LIFETIME VALUE OF A CUSTOMER
100 Steps in review

61.  Test CPC/CPI/CPA Ads with bigger budget now that you
know LTV
62.  TEST SOCIAL ADS & DISPLAY ADS & CALCLATE ROI BY CHANNEL
63.  SCALE ADVERTISING UNTIL MARGINAL COST = MARGINAL RETURN
64.  OPTIMIZE ADVERTISING to bring down CAC
65.  COLLECT TESTIMONIALS FROM INITIAL USERS/CUSTOMERS
100 Steps in review

66.  CREATE SOCIAL WORD OF MOUTH FOR YOUR PRODUCT


67.  CREATE youtube video promoting your product
68.  ATTEND AN INDUSTRY TRADE SHOW
69.  CONSIDER SELLING YOUR PRODUCT in BULK AT WHOLESALE
70.  BRING ON A BOOKKEEPER TO AUTOMATE ACCOUNTING
100 Steps in review

71.  CREATE AN EMPLOYEE DIRECTORY


72.  REVIEW YOUR P&L & balance sheet monthly
73.  COMPARE INITIAL FORECAST WITH ACTUAL RESULTS
74.  HIRE A SALESPERSON
75.  CREATE A SALES COMPENSATION PLAN
100 Steps in review

76.  SET UP A COMPANY HEALTH CARE PROGRAM


77.  ESTABLISH YOUR VACATION POLICY
78.  TEST OFFLINE ADVERTISING CAREFULLY
79.  CREATE A COMPANY INTERNAL INTRANET
80.  CREATE a digital company handbook
100 Steps in review

81.  OPEN UP A CREDIT LINE WITH YOUR BANK


82.  CREATE AN OFFSITE WORK POLICY
83.  ONCE YOU CAN SHOW $1 in means $4 in revenue,
raise capital
84.  CREATE A LIST OF FIRMS TO RAISE INITIAL GROWTH
FUNDING
85.  UPDATE YOUR PITCH DECK
100 Steps in review

86.  BUILD RELATIONSHIPS WITH INDUSTRY BLOGGERS


87.  SEEK PRODUCT REVIEWS
88.  HIRE AN EXECUTIVE ASSISTANT/OFFICE MANAGER
89.  HOLD YOUR FIRST COMPANY RETREAT
90.  TAKE CUSTOMER FEEDBACK AND IMPROVE YOUR
PRODUCT
100 Steps in review

91.  GET CONNECTED TO INVESTORS FROM PEOPLE YOU KNOW


92.  HAVE INITIAL GET TO KNOW YOU MEETINGS FOR
FEEDBACK
93.  UNDERPROMISE AND OVER DELIVER ON RESULTS FOR
NEXT 90 DAYS
94.  DETERMINE HOW MUCH CAPITAL TO RAISE
95.  RETURN TO FIRMS YOU LIKE FOR PARTNER PRESENTATION
100 Steps in review

96.  DO 20 partner presentations in 2 weeks


97.  Get 2 term sheets
98.  NEGOTIATE & SIGN TERM SHEETS
99.  COMPLETE DILIGENCE
100.  CLOSE ON CAPITAL
Lessons from my 20s

PART II, Section 13

Business
lessons
Business lessons Learned

Don’t get stuck


In analsis paralysis
Take action NOW!
Business lessons Learned

It is UP TO YOU to
GET OUT THERE, DO IT &
TAKE THE INITiATIVE
Business lessons Learned

Don’t be
Afraid to

FAIL!
Business lessons Learned

RECOGNITION & PRAISE


CAN BE BIGGER MOTIVATORS THAN

Salary & BONUSES!


Business lessons Learned

ALWAYS COMMUNICATE
FREQUENTLY & OPENLY
TO CUSTOMERS
& STAKEHOLDERS
DURING NEGATIVE EVENTS
Business lessons Learned

ONCE YOU HAVE 80%


OF THE NEEDED INFORMATION
MAKE THE CALL
You’ll be better off
By ACTING QUICKLY
LEARNING & Iterating
Business lessons Learned

WHEN THINGS ARE


GOING WELL financially
IT IS TIME TO
PREPARE FOR
Difficult times
Business Lessons Learned

BUILDING A BUSINESS is like


MOVING SOMETHING heavy
IT TAKES TIME to
GET INERTIA GOING.
BUT ONCE YOU DO, THINGS
CAN MOVE QUICKLY
Business Lessons Learned

HAVE ALL TEAM MEMBERS


SHARE THEIR PERSONAL
WITH THE TEAM
Business Lessons Learned

WHEN YOU GET TO


30 EMPLOYEES
HIRE A COO
Business Lessons Learned

YOU MAY NOT BE ABLE TO DO


EVERYTHING AT ONCE
TAKE A LONG-RUN APPROACH &
PLAY LIFE LIKE A
LONG-TERM GAME
Business Lessons Learned

IF YOU PRESENTLY DON’T HAVE THE


FINANCIAl RESOURCES, THE EXPERIENCE
OR A GOOD BUSINESS IDEA, INTERN OR GET A
JOB AT A COMPANY YOU ARE PASSIONATE
ABOUT AND START BUILDING YOUR NETWORK
& experience
Business Lessons Learned

ALWAYS FOCUS ON BUILDING


QUALITY & GIVING RELATIONSHIPS WITH

GOOD PEOPLE
Business Lessons Learned

REGARDLESS OF WHAT You’RE DOING


MAKE SURE You’RE CONSTANTLY

LEARNING
Business Lessons Learned

TAKE A PROACTIVE ROLE IN


PLANNING, GOAL SETTING, &
PERSONAL EVALUATION
Business Lessons Learned

Don’t be afraid to ask for help


People are often very willing to
HELP YOU IF YOU ASK

GENUINELY
Business Lessons Learned

GET Experience however you can


Build your network
Have confidence
And BE IN IT TO
Help Others
Business Lessons Learned

IF AND WHEN YOU SUCCEED


GIVE BACK
There are many brothers & sisters
Who have not been as fortunate
Lessons from my 20s

Part III:

THE WORLD
ABOUT THIS PRESENTATION

THIS presentation can be found


Online at
www.hive.org/20s
PART 3 TOPICS
PART 3 “THE WORLD” INCLUDES SECTIONS ON

HUMAN RIGHTS MILLENNIALS


Human progress CLIMATE CHANGE
SYSTEMs thinking The innovation age
WORLD 2050
Lessons from my 20s

PART III, Section 1

HUMAN
RIGHTS
A THOUGHT EXERCISE

Let’s begin this section on


Human rights with a

Famous thought exercise


A THOUGHT EXERCISE

IMAGINE YOU WERE a soul


Hanging out around a campfire
IN A CAVE with

five other souls


A THOUGHT EXERCISE

NOW IMAGINE that god


gave you and the five other souls
The task of determing the
Principles for the world
A THOUGHT EXERCISE

God said that the principles


for the world should be fair and
That you all must agree on them
Before you could be born
A THOUGHT EXERCISE

None of the six of you know yet


where you’ll be born
The color of your skin
Your sexual orientation
Your gender
Or how much money Your parents will have
A THOUGHT EXERCISE

And your task is to come up


with the principles for the world
That you can all agree on
Before you can be born into your bodies
A THOUGHT EXERCISE

What principles would you come up


with for the world?
A THOUGHT EXERCISE
What principles would you come up
with for the world if you didn’t know
where you’ll be born
The color of your skin
Your gender
Your sexual orientation
how much money Your parents will have
A THOUGHT EXERCISE

Take a moment to write down


at least 2 principles for the world
That would create a fair society
A THOUGHT EXERCISE

This famous thought exercise


Is called “The original position”
th
And was created by 20 century
Harvard professor & philosopher
John Rawls
A THOUGHT EXERCISE

John rawls writes about


The original position
In his 1971 classic
A theory of justice
“The most reasonable principles of
justice are those everyone would
accept and agree to from a fair
position.”
- John Rawls, 20th Century Philosopher!
A THOUGHT EXERCISE

Here are the two principles


We have come up with at Hive
That would create a just world
The First principle

1 All people would have the same basic


Rights regardless of birthplace, gender,
Sexual orientation, or skin color
The second principle

2 All people would have access


To the basic human needs of food, water
Shelter, medicine, education, and
electricity
What would be the implication of these principles?

IN THIS WORLD
WOULD YOU prevent some PEOPLE
FROM TRAVELING to other places
While others could
Travel Freely
SIMPLY BASED ON WHERE THEY WERE BORN?!
What would be the implication of these principles?

IN THIS WORLD
WOULD YOU ENSURE EVERYONE HAD ACCESS
TO FOOD, WATER & SHELTER OR JUST

SOME PEOPLE?
What would be the implication of these principles?

IN THIS WORLD
WOULD YOU ENSURE EVERYONE HAD ACCESS
TO basic education and medicine or just

SOME PEOPLE?
What would be the implication of these principles?

IN THIS WORLD WOULD YOU ENSURE


THAT ALL INFANTS HAD LIFE SAVING
IMMUNIZATIONS OR JUST RESERVE THOSE

FOR SOME INFANTS?


What would be the implication of these principles?

IN THIS WORLD WOULD YOU CONDEMN


SOME BABIES TO DEATH
BECAUSe CANCER TREATMENTS
WEREN’t available?
What would be the implication of these principles?

WHAT TYPE OF WORLD WOULD YOU


CREATE
IF YOU DIDN’t know where you
WOULD BE BORN?
The world we can create

THIS IS THE WORLD


WE CAN ACTUALLY
CREATE IN OUR LIFETIME!
The world we can create

A WORLD IN WHICH
FREE SPIRIT AND ENTERPRISE
IS ENCOURAGED
The world we can create

A WORLD IN WHICH
Everyone has access to
Their basic needs
The world we can create

A WORLD that is run


On clean energy
The world we can create

A WORLD IN WHICH
PROPERTY RIGHTS
ARE RESPECTED
The world we can create

A WORLD IN WHICH
GOVERNMENTs are RUN
EFFICIENTLY
AND TRANSPARENTLY
The world we can create

A WORLD IN WHICH
EVERY CHILD
IS GIVEN THE ABILITY
TO LEARN TO CREATE
TO INNOVATE TO CONTRIBUTE
The world we can create

A WORLD IN WHICH
EVERY CHILD IS ASSURED
ACCESS TO THEIR BASIC NEEDS
ELECTRICITY

MEDICINE EDUCATION

FOOD WATER SHELTER


% of people without basic human needs

Basic human need % Without # Without Source

1. Clean Water 10.8% 780M UNICEF

2. Sufficient Food 12.8% 925M UNFAO

3. Basic Shelter 13.8% 1.0B UNHCR

4. Literacy 12.7% 920M UNESCO

5. Basic Medicine 23.6% 1.7B WHO

6. Electricity 18.0% 1.3B IEA


The world we can create

IMAGINE THE JOB CREATION


AND THE HUMAN INNOVATION
As we GO FROM 3B
To 9 BILLION PEOPLE WHOSE
BASIC NEEDS ARE MET
Ending Poverty in Singapore in 50 years

SINGAPORE IS AN INTERESTING CASE…


In 1960 its per capita income was $428
By 2011 per capita income grew to $50,123
How did Singapore
END POVERTY in one LIFETIME?
Ending Poverty in Singapore in 50 years
While many have criticised a lack of political FREEDOM
HERE ARE SOME THINGS leadership GOT RIGHT in singapore
Low tolerance of corruption
High pay of public officials to attract best talent and discourage bribery
An efficiently run government with competent leadership
Government budget surpluses
Focus on ease of starting a business
Focus on a scientific knowledge-based economy
Focus on export-led growth
Low taxes
A clean environment
A GOOD QUESTION FROM Bucky

“How do we make the world work for


100% of humanity in the shortest
possible time through spontaneous
cooperation without ecological
damage or disadvantage to anyone?”
- Buckminster fuller
!
Human Rights?

WHAT IF THERE WERE A DOCUMENT


ESTABLISHING THE RIGHTS OF HUMANS
THAT THE USA AND 48 other
COUNTRIES Had already ADOPTED?
A universal declaration of human rights?

There actually is
It’s called the
Universal declaration of human rights
And it was adopted in 1948
A universal declaration of human rights?
A universal declaration of human rights?
A universal declaration of human rights?

What if we actually created


A human society
Based upon these principles?
The world we can create

We will be the first generation


To be connected globally
The world we can create

And we will have the opportunity


To reshape THE WORLD
Into a joyous, sustainable, and abundant WORLD
The world we can create

Let’s work together on this


In the decades to come
Human rights exercise

You can do the following 5 minute


Human rights exercise now
Or put a time on your calendar
To return to it
Human rights
EXERCISE
Exercise: human rights

Write down two principles you would


Create for the world if you were a
Pre-birth soul and didn’t know where
you’d be born, your skin color, your gender,
or your Parent’s income
Exercise: human rights

Now, write down:


Are you committed to working toward
Creating a world based on those principles?

Why or why not?


Lessons from my 20s

PART III, Section 2

HUMAN
progress
A few important questions

SOMETIMES WITH ALL THE


NEGATIVE HEADLINES
IT’s HARD TO zoom out and
And look at THE ANSWER TO
A very IMPORTANT QUESTION
How are we doing?

HOW IS
OUR SPECIES
DOING?
How are we doing?

Is humanity DOING
better or worse than
40 years ago?
Progress

Is humanity making
Progress?
Measuring Progress

And can“progress”
Be measured?
SOME EXISTING MEASURES OF HUMAN PROGRESS

1.  United Nations Human Development Index


2.  Legatum Prosperity Index
3.  Social Progress Index (SPI)
4.  Gross National Happiness (GNH)
SOME EXISTING MEASURES OF HUMAN PROGRESS

The challenge with these four measures


Is that they provide data at a country level

Not at a human level


Measuring human progress

WE NEED A MORE COMPRENSIVE


Measure OF HUMAN PROGRESS
How humans are doing

WHAT IF WE COULD
AGREE On METRICS
THAT TOLD US
HOW OUR SPECIES
IS DOING?
How humans are doing
We’d probably look for data in AREAS LIKE
Health
education
PEACE
Economics
environment
How humans are doing

Here are the exact measures


we use at hive
To track human progress
at a species level
How humans are doing
Health 1. Life Expectancy
2. Infant Mortality

Education
3. Literacy
4. Internet Access

!
Peace!
5. Active Conflicts
6. Deaths From War

Economics
7. Average Income
8. Global Poverty Rate

!
Environment! 9. CO2 PPM
10. Temperature Increase
How humans are doing

Let’s look at how we’re doing


As a species across THESE

10 metrics
The global report card

Health
1. Life Expectancy

1980 2012

63 71
12% Higher
Source: World Bank
2. Infant Mortality

59% Decline

1980 2012

11.6% 4.8%
Source: World Bank
The global report card

EDUCATION
3. Literacy Rate
100%

90%

80%

70%

60% 1980 2012

70% 84%
50%

40%

30%

20% Higher
20%

10%

0%
1980 1990 1995 2000 2012
4. Internet Access
1980 2012

0% 36%

Infinitely Higher
The global report card

PEACE
4
14

0
2
6
8
10
12
16
18
1980
1981
1982
1983
1984
1985
1986

Source: Uppsala Conflict Data Program


1987

13
1988
1989
1990

1980-1985 Avg.
1991
1992
1993
1994
1995
1996
1997
1998
5. Active Major Conflicts

1999
2000
6
2001
2002
2003
2008-2013 Avg.

2004
2005
2006
2007
2008
2009
2010
2011
54% Lower

2012
2013
6. Deaths from War
90000

80000
18% Lower
Even as global population
has expanded 45%
70000

60000 Syria conflict has caused


recent spike
50000

40000

30000

20000 1980-1985 Avg. 2008-2013 Avg.


10000
40,370 33,159
0
1980
1981

1983

1985
1986
1987
1988
1989
1990
1991

1993

1995
1996
1997
1998
1999
2000
2001

2003

2005
2006
2007
2008
2009
2010
2011

2013
1982

1984

1992

1994

2002

2004

2012
The global report card

ECONOMICS
7. Annual Income Per Person

74% Higher

1980 2012

$5960 $10395
Population & Income Over 2000 Years
8

$10395
7
Billions of People on Planet

The!Informa.on!Age!
6

$6055
5

4 The!Industrial!Age!

$2111
3
The!Enlightenment!

2 $1261
The!Renaissance!

1 $666
$605
$566
$467 $450 $453

0
0 100 200 300 400 500 600 700 800 900 1000 1100 1200 1300 1400 1500 1600 1700 1800 1900 2000
The time to get to now

IT took humans
13.78 Billion yearS
TO EVOLVE
Time to 1B People

IT took humans
200,000 years to
reach1B people
POPULATION AND INCOME GROWTH

BUT just
200 years to go
from 1b to 7B
POPULATION AND INCOME GROWTH

NEVER BEFORE
HAVE WE HAD
SO MANY PEOPLE
POPULATION AND INCOME GROWTH

NEVER BEFORE has


our species had
SO much wealth
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
100.0%
1980
1981
1982
1983
1984
1985
1986
1987
1988
1980

1989
1990
1991
43.6%
1992
1993
1994
1995
1996
1997
1998
1999
61% Lower
2000
2001
2002
8. % Living in Extreme Poverty

2003
2004
2005
2006
2012

2007
2008
2009
16.9%

2010
2011
2012
LOOKING GOOD SO FAR…

So things are
Looking up, right?
LOOKING GOOD SO FAR…

Mostly, except for


The environment
LOOKING GOOD SO FAR…

Which sort of
Underpins
Everything else
The global report card

ENVIRONMENT
250
270
290
310
330
350
370
390
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1980

334
1992
1993
1994
1995
1996
1997
1998
1999
19% Higher
2000
2001
2002
2003
2004
2012

2005
2006
395

2007
2008
2009
2010
2011
9. CO2 in Atmosphere (Parts Per Million)

2012
0.0
0.2
0.4
0.6
0.8
1.0
1.2
1.4
1.6
1.8
1980
1981
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
1992
125% Higher

1993
1994
1995
1996
1997
1998
1999
2000
1980

2001
2002
0.61°
2003
2004
2005
2006
2007
2008
2009
2010
10. Surface Temperature Increase (F°)

2011
2012

2012
1.37°

2013
The Global Report Card
1980 2013 % Change Grade
1. Life Expectancy 63 71 % 12% A
Health %!
2. Infant Mortality 11.6% 4.8% 59% A

3. Literacy 70% 84% % 20% B
Education 4. Internet Access 0% 36% % Infinite B
!
5. Active Conflicts 13 6 54% B
%!
Peace!
6. Deaths from War 40,370 33,159 18% B
%!

7. Average Income $5.9k $10.4k % 74% A


Economics!
8. Poverty Rate 43.6% 16.9% 61% B
%!

9. CO2 PPM 334 395 % 19% F


Environment! 10. Temp. Increase +0.61° +1.37° % 125% F
What would a 5 DeGree farenheight increase mean?

“As the Arctic continues to warm, melting


permafrost in the boreal forests and further north
in the Arctic tundra is now starting to melt,
triggering the release of methane, a greenhouse
gas twenty times more powerful than CO2, from
thick layers of thawing peat.”
- Climate Code Red
Lots of progress on the abundance side
1812 2014
HOW LONG WE LIVE
Average life expectancy globally
30 70
INFANT MORTALITY 25% 4%
Infant deaths before age 5 globally

POVERTY % 98% 17%


Under $1.25 per day globally current $

Avg. annual INCOME


Inflation adjusted to current $
$700 $10800
The key challenge for our generation

So they key challenge is


how we can together create
An abundant and sustainable world
For all people
Lessons from my 20s

PART III, Section 3

SYSTEMS
THINKING
WHAT IS A SYSTEM?

A SYSTEM is
A COLLECTION OF PROCESSES

THAT INTERACT
SYSTEMS THINKING

SYSTEMS THINKERS
INTEGRATE knowledge
ACROSS DISCIPLINES
SYSTEMS THINKING

SYSTEMS THINKERS
UNDERSTAND
COMPLEXITY & NUANCE
SYSTEMS THINKING

SYSTEMS THINKERS
BUILD
MENTAL MAPS
Three Types of SYStems

1.  INTERNAL SYSTEMS


2.  EXTERNAL SYSTEMS
3.  ECOLOGICAL SYSTEMS
INTERNAL SYSTEMS EXAMPLEs

RESPIRATION
CELL REPLICATION
DIGESTION
IMMUNE SYSTEM
HORMONAL REGULATION
NEURAL PLASTICITY
EXTERNAL SYSTEMS EXAMPLEs

GLOBAL TRADE
ELECTRICAL GRIDS
ACADEMIC ADMISSIONS
COMPANY METRICS REPORTING
ELECTIONS
THE INTERNET
EXTERNAL SYSTEMS EXAMPLEs

CONDENSATION
GEOLOGICAL FORMATION
ELECTROMAGNETIC ENERGY
NUCLEAR FUSION
GAMMA WAVES
EVOLUTION
AN example of external systems theory

JAMES LOCKLOCK’s GAIA HYPOTHESIS


EXPLORED THE EARTH as one
self-regulating
Interconnected system
Of biosphere, atmosphere,
Oceans, and soil
The great SYSTEMS THINKERS

Some of the most well known


Systems thinkers in last century were
Donella meadows
Albert einstein
Thomas Edison
Buckminster fuller
JAMES LOVELOCK
Lessons from my 20s

PART III, Section 4

WORLD
2050
The World in 2050

Here are some predictions


About What will happen
In the next 40 years
From the pardee center
For international futures
World Population Will RISE

GLOBAL POPULATION
WILL RISE to
9.2 Billion
Energy DEMAND WILL INCREASE

GLOBAL ENERGY
DEMAND WILL go up 2.3x
CO2 output from fossil fuels

FOSSIL FUEL USAGE


WILL PEAK THEN
DECLINE
Mobile phones per 100 people

The average person


Will have >1
Cloud connected
Mobile device
Global Life Expectancy

WE LIVE LONGER AS
LIFE EXPECTANCY REACHES
77
Infant Mortality

FEWER BABIES DIE


As INFANT MORTALITY
Goes under 10 per 1000
GDP Per Capita (In thousands)

WE BECOME WEALTHIER
Global GDP PER CAPITA UP 140%
POVERTY DECLINES RAPIDLY
Extreme POVERTY nearly eliminated
% living on <$1.25 Per Day
Down 78%
Secondary education completion

WE ARE BETTER EDUCATED


SECONDARY SCHOOLING up 52%
COLLEGE EDUCATED

% oF PEOPLE
WITH COLLEGE DEGREES
UP159%
WOMEN WITH COLLEGE EDUCATION

UP 189%
MORE OF US WILL LIVE IN CITIES

PERCENTAGE IN CITIES
UP 32%
Major innovations are coming

NANOTECHNOLOGY
3D Printing
GENOME SEQUENCING
SYNTHETIC LIFE
PRIVATE SPACE TRAVEL
DESALINATION
Governments will have to adapt

INCREASED GOVERNMENT TRANSPARENCY


OPEN GOV DATA APIS
STRONGER PROPERTY RIGHTS
EASIER TO START A BUSINESS
BETTER co2 REGULATIONS
REMAINING REGIMES OVERTHROWN
MAJOR GEOPOLITICAL CHANGES

CHINA WORLD’S LARGEST GDP


INDIA THE MOST POPULOUS NATION
AFRICA 2B People + ECONOMIC POWER
FOSSIL FUEL PRODUCERS LESS INFLUENCE
INSECURITY UNTIL WE LOWER EMISSIONS
AFRICA BECOMES AN ECONOMIC POWER
Lessons from my 20s

PART III, Section 5

MILLENNIALS
It’s our turn to lead

MILLENNIALS
WILL BE LEADING
THE NEXT 40 YEARS
People born between 1980 and 2000
SO what’s different about millennials?

SO What’s different
ABOUT Millennials?
SO what’s different about millennials?

WE ARE
DEEPLY AWARE
OF SOCIAL ISSUES
SO what’s different about millennials?

WE UNDERSTAND THE
IMPORTANCE OF A
SUSTAINABLE WORLD
SO what’s different about millennials?

WE SEE BUSINESS
& ENTREPRENEURSHIP
AS TOOLS TO MAKE A
SCALABLE POSITIVE CHANGE
IN THE WORLD
SO what’s different about millennials?

WE ARE USED TO A
FASTER PACE OF CHANGE
& ARE IMPATIENT with the
Status quo
SO what’s different about millennials?

WE ARE CONNECTED
GLOBALLY THROUGH
TECHNOLOGY LIKE
NEVER BEFORE
SO what’s different about millennials?

WE NOW HAVE THE


TOOLS TO HOLD
CORRUPT LEADERS
ACCOUNTABLE AND CREATE THE MOMENTUM TO OVERTHROW THEM
OUR GREAT OPPORTUNITY

OUR GREATEST opportunity


Is creating a sustainable world
IN WHICH EVERY HUMAN HAS
ACCESS TO FOOD, WATER, SHELTER
EDUCATION, MEDICINE, ELECTRICITY
OUR GREAT OPPORTUNITY

THE GOOD NEWS IS


WE GIVE A DAMN
HAVE THE TECH TOOLS
CAN INNOVATE LIKE HELL
AND ARE HIGHLY COMPETENT
Lessons from my 20s

PART III, Section 6

CLIMATE CHANGE
Co2 traps heat

AN INCREASE IN Co2
IN AN ATMOSPHERE
TRAPS HEAT & MAKES THE
TEMPERATURE GO UP
10
15
20
25
30
35
40

0
5
1900
1903
1906
1909
1912
1915
1918
1921
1924
1927
Carbon emissions

1930
1933
1936
1939
1942
1945
1948
1951
To 40GT SINCE 1900
ANNUAL CO2 OUTPUT

1954
1957
1960
1963
1966
HAS INCREASED FROM 4GT

1969
1972
1975
1978
1981
1984
1987
1990
1993
1996
1999
2002
2005
2008
2011
270
290
310
330
350
370
390
410
1900
1903
1906
1909
1912
1915
1918
1921
1924
1927
1930
1933
1936
1939
HAVE INCREASED
CO2 in the atmoshphere

1942
1945
1948
1951
1954
CO2 Parts per million

1957
1960
1963
1966
1969
FROM 293 to 401 SINCE 1900

1972
1975
1978
1981
1984
1987
1990
1993
1996
1999
2002
2005
2008
2011
2014
Surface Temperature change over 1937 baseline
1.40

1.20
EARTH’s AVERAGE SURFACE
1.00
TEMPERATURE HAS RISEn 1.3°F
0.80
SINCE 1967
0.60

0.40

0.20

0.00

-0.20

1967 1969 1971 1973 1975 1977 1979 1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013
-0.40

Source: NOAA
The link between co2 and temperature

In 1896, Swedish scientist


svante arrhenius FIRST Showed the link
between the amount Of co2 in the atmosphere

and temperature!
97% of Scientists Agree that co2 ! Higher temps

As of 2010, 97% of American CLIMATE SCIENTISTS


BELIEVEd the INCREASE
In earth’s TEMPERATUREs IS CAUSED BY
INCREASED CO2 in the ATMOSPHERE
21st century temperature increases

THE IPCC INDICATES GLOBAL


Surface TEMPERATURES wILL
INCREASE ANOTHER 3.4° to 7.9°F
Sea Levels Rising

A 5°F increase in
Surface TEMPERATURES WOULD
INCREASE SEA LEVELS by ~11 FT
Hundreds of millions of refugees

An 11 foot sea level rise would mean:


BANGLADESH UNDER WATER
35% of FL Under water
20% of NYC Under Water
Moving to a clean energy economy

TO stop this we must


Move away from fossil fuels
As quickly as we can
Moving to a clean energy economy

We must move away from coal, oil, and natural gas


And to clean energies like solar,
wind, geothermal, and Biofuels
As quickly as we can
What would a 5 degree (F) increase mean?

“In the pliocene, three million years ago temperatures were


5 degrees (F) higher than our pre-industrial levels, so it
gives us an insight into the five-degree world. The northern
hemisphere was free of glaciers and icesheets, beech trees
grew in the transantarctic mountains, sea levels were 25
metres higher”

- Climate Code red!
What would a 5 degree (F) increase mean?

“Between 3 and 5 degrees (F) the Amazon rainforest,


whose plants produce 10 per cent of the world's
photosynthesis and have no evolved resistance to
fire, may turn to savannah, as drought and mega-fires
first destroy the rainforest, turning trees back into
carbon dioxide as they burn or rot and decompose”
- Climate Code red!

What would a 5 degree (F) increase mean?

“As the Arctic continue to warm, melting


permafrost in the boreal forests and further
north in the Arctic tundra is now starting to melt,
triggering the release of methane, a greenhouse
gas twenty times more powerful than CO2, from
thick layers of thawing peat.”
- Climate Code red!
What would a 5 degree (F) increase mean?

“There are thousands of gigatons of methane


beneath the seas, comparable to the amount
of carbon contained in the Earth’s coal
deposits. And, as the Arctic waters warm,
some of this methane is likely to bubble up into
the atmosphere.”
- Ezra klein!

The current debate

THE CURRENT DEBATE


DOES NOT RECOGNIZE THE
GRAVITY OF THE SITUATION
A huge economic threat

INCREASED
TEMPERATURES ARE
INEVITABLE
AND ARE ON TRACK TO
THREATEn OUR
Economy + CIVILIZATION
Passed to 400 PPM Barrier

WE ARE At 401
CARBON PPM
AS OF 2014
Past the 400 PPM Barrier

WHERE WE STABILIZE
CARBON PPM
WILL DRASTICALLY AFFECT
The type of world
Our children live in
We Passed the 400 PPM Barrier
500 PPM

WE MUST DO ALL WE CAN


AS A SOCIETY
TO NEVER GO ABOVE

500 PPM
350 PPM

AND to get back


To 350 PPM
Where we were in
1987
The Historical perspective on CO2
Steps we can take

THERE ARE
STEPS WE CAN TAKE
TO REDUCE C02 output
MORE QUICKLY
Steps we can take

1) STOP FOSSIL FUEL SUBSIDIES


2) PRICE IN THE COST OF C02 pollution cleanup
3) INVEST IN energy & geoengineering R&D
4) SubSIDIZE RENEWABLE ENERGY USE
5) INCREASE ENERGY EFFICIENCY
1. STOP subsidizing fossil fuel production

Every year the usa


Provides $11.5b in
Subsidies to the
Oil industry
This needs to stop
Immediately
2. Price in cost of co2 cleanup

FOSSIL FUELS ARE CHEAP


BECAUSE THE COST OF
CLEANING UP CO2 POLLUTION
IS NOT INCLUDED IN THE PRICE
Let’s FIX THIS and CORRECT THE
INCENTIVES TO USE FOSSIL FUELS
3. INVEST IN RENEWABLES & GEOENGINEERING RESEARCH

WIND, SOLAR, BIOFUELS, & FUSION


HAVE GREAT PROMISE
As does carbon SEQUESTRATION
And other geoengineering
techniques
FUNDING GeoENGINEERING RESEARCH

GEOENGINEERING TECHNIQUES
LIKE carbon sequestration
SOLAR RADIATION MANAGEMENT
CLOUD SEEDING and
VERTICAL OCEAN PIPING
Are worthy of careful research
US Govt spends 457x more on military than renewables

USA ANNUAL DEFENSE BUDGET


$640 BILLION
USA ANNUAL RENEWABLES R&D
$1.4 Billion
SOMETHING IS OFF HERE…

U.S. ANNUAL DEFENSE BUDGET


$640 BILLION
U.S. ANNUAL FOSSIL FUEL SUBSIDIES
$11.5 Billion
USA ANNUAL RENEWABLES R&D
$1.4 Billion
4. Subsidize renewables R&D

iN ORDER TO INCREASE MARKET


INVESTMENT IN RENEWABLES
IN THE NEXT FEW YEARS
WHILE THE R&D iS CONDUCTED
WE SHOULD SUBSIDIZE THE
COST OF RENEWABLE ENERGY
5. INCREASE ENERGY EFFICIENCY

EFFICIENT BUILDINGS
SMART 2-way grids
SMART APPLIANCES
CLEAN ENERGY

INVESTING IN CLEAN ENERGY FROM


RENEWABLE SOURCES
IS OUR BEST BET TO REDUCE
THE COMING ECONOMIC COST OF
CLIMATE CHANGE
GRID PARITY is coming

SOLAR POWER
WILL BE LESS EXPENSIVe
THAN GRID POWER BY 2020
This moment will be the

THE TIPPING POINT


GRID PARITY is coming

$0.25 >! $0.04


COST OF SOLAR COST OF GRID
RETAIL COST PER KWH IN USA RETAIL COST PER KWH IN USA

2014
GRID PARITY is coming
THIS IS A BIG DEAL

$0.04 =! $0.04
COST OF SOLAR COST OF GRID
RETAIL COST PER KWH IN USA RETAIL COST PER KWH IN USA

2020
The apollo mission of our generation

It’s a race to
GRID PARITY
THIS IS OUR
MOON LANDING
THE PRESIDENT HAS YOUR BACK

“We're issuing a challenge. We're telling America's scientists and engineers that if
they assemble teams of the best minds in their fields, and focus on the hardest
problems in clean energy, we'll fund the Apollo projects of our time. At the
California Institute of Technology, they're developing a way to turn sunlight and
water into fuel for our cars. At Oak Ridge National Laboratory, they're using
supercomputers to get a lot more power out of our nuclear facilities. With more
research and incentives, we can break our dependence on oil”

– President Obama, State of the union address, January 26, 2011


FUNDING RESEARCH

The JOINT CENTER FOR


ARTIFICIAL PHOTOSYNTHESIS
IS THE DOE’S

SOLAR RESEARCH HUB


ENERGY USAGE

Humans ARE using


15 Terawatts of power
ANNUALLY
ENERGY USAGE

Humans are EXPECTED TO need


40 Terawatts of power
PER YEAR by 2050
2012 SOURCES OF GLOBAL ENERGY PRODUCTION
0.7%
6.5%
6.5%
Fossil Fuels
Nuclear
Hydro
Solar/Wind/Bio

86.3%
The potential oF THE SUN

THE SUN PROVIDES


ENOUGH ENERGY
IN A MINUTE
TO POWER THE EARTH
FOR A YEAR
What if?

WHAT IF THERE WERE


MICROORGANISMS WHOSE FOOD SOURCE
WAS CARBON DIOXIDE

AND THEIR OUTPUT WAS FUEL?


The potential of algae

ALGAE HAVE THE POTENTIAL


TO BE THE WORLD’s FUTURE
RENEWABLE FUEL SOURCE
The potential of algae

BIOFUELS PRODUCED FROM


SYNTHETIC ALGAE
SHOW GREAT PROMISE
FOR RENEWABLE FUEL PRODUCTION
The potential of algae

ALGAE
CONSUME CARBON DIOXIDE
PRODUCE FUEL
And REQUIRE 1/7th the LAND OF CORN-BASED ETHANOL
iN SUMMARY

CLEAN ENERGY IS OUR


Generation’s
Apollo MISSION
Lessons from my 20s

PART III, Section 7

The Innovation
Age
About this section

This final section called


“the innovation age” Is about
The trends I am seeing
in history and humanity
And where that may lead us in
The Decades ahead
A Timeline of history

TO PUT everything
In perspective
Here is a timeline of
Earth’s history
A big picture timeline of earth

Formation of Dinosaurs
Universe Formation of Earth Plants Form Dinosaurs Extinct
(13.8B Yrs Ago) (4.5 B Yrs Ago) (500M Yrs Ago) (250M Yrs Ago) (65M Yrs Ago)

Formation of The Sun Oceans Form (3.8B Land Animals Pangea Shifts
(4.6B Yrs Ago) Yrs Ago) (400M Yrs Ago) (200M Yrs Ago)
A human Timeline

TO further PUT THINGs


In perspective
Here is a timeline of
human history
HUMAN HISTORY TIMELINE

Chimps diverge Homo Erectus Fire Language


(5.4M Yrs Ago) (2.3 M Yrs Ago) (400,000 Yrs Ago) (100,000 Yrs Ago)

Homo Habilis Homo Erectus Homo Sapiens


(2.3 M Yrs Ago) (1.8M Yrs Ago) (200,000 Yrs Ago)
The human story

And at a very simplified


Level, here’s the story
Of the last 13.8B years
(as far as we know so far)
The Great story of humanity

Once upon a time


All matter was in
a single point
The Great story of humanity

Then a massive
Explosion we call
The big bang occurred
The Great story of humanity

initially there
was no life in the
universe
The Great story of humanity

The universe was


A VAST expanse
Of matter and
energy
The Great story of humanity

THEN ALONG CAME


CARBON ATOMS
The Great story of humanity

WHICH COULD
ENCODE INFORMATION
The Great story of humanity

AND MOLECULES
EVOLVED
The Great story of humanity

A BILLION YEARS LATER


DNA EVOLVED
The Great story of humanity

AND from CHEMISTRY came


LIFE
The Great story of humanity

ORGANISMS EVOLVED
DECISION networks
called
NERVOUS SYSTEMS
The Great story of humanity

NEURONS Aggregated
INTO
BRAINS
The Great story of humanity

Brains formed
frontal
cortexes
The Great story of humanity

And emotions and


reason
formed
The Great story of humanity

WE WENT FROM ATOMS


to MOLECULES TO DNA
TO BRAINS to
awareness!
The Great story of humanity

Now that’s
awesome!
The Great story of humanity

BRAINS PLUS
OPPOSABLE THUMBS
created TOOLS
The Great story of humanity

THEN WE CREATED
LANGUAGE
The Great story of humanity

THEN WE started
farming
The Great story of humanity

THEN WE FORMED
CITIES
The Great story of humanity

THEN WE CREATED
WRITING
The Great story of humanity

THEN WE CREATED
MATHEMATICS
The Great story of humanity

THEN WE CREATED the


Scientific method
The Great story of humanity

THEN WE DISCOVERED
A WAY OF ORGANIZING
OUR EFFORTS
(We called it a company – which in Latin means to “break bread with”)
The Great story of humanity

THEN WE CREATED
a system for funneling money to people
working together effectively to create
value for humans
we called it “capitalism”
it created incentives for creating what humans want
we had to improve it a few times before it worked for everyone
And We still have some reforms to go
The Great story of humanity

THEN WE CREATED
A SYSTEM FOR sharing risk so that we
could allocate money to projects that
create what humans want
We CALLED IT THE “FINANCIAL SYSTEM”
And it took a while before we made sure the right rules
were in place so it worked for everyone
The Great story of humanity

THEN WE DISCOVERED
ELECTRCITIY
The Great story of humanity

THEN WE DISCOVERED
Stored ENERGY
WATER ! STEAM ! Oil/Gas/Coal ! nuclear ! SOLAR / WIND / BIOFUEL / FUSION
The Great story of humanity

THEN WE invented
engines
The Great story of humanity

That’s when things


really TOOK OFF
The Great story of humanity

With energy &


engines So much
became
possible
The Great story of humanity

THAT BROUGHT US THE


INDUSTRIAL
REVOLUTION
The Great story of humanity

using machinery
one human could be more
efficient than ever before
LEADING TO MUCH HIGHER
LIVING STANDARDS
The Great story of humanity

THEN WE CREATED
FLYING
MACHINES
The Great story of humanity

THEN WE sent
encoded messages
Through the air
The Great story of humanity

THEN WE built
computers
The Great story of humanity

THEN WE built
A global network of
computers
The Great story of humanity

THEN WE built
Pocket-sized
supercomputers
And we called them “smartphones”
Now, We Are Entering the innovation Age
The Industrial Age

The industrial age began with


The invention of the engine
And ended with the invention of the

computer
The Information Age

The INFORMATION age began In 1950


With The invention of the computer
And will end when 50% of humanity

is connected
The Information Age

In mid-2014 40% of humanity has access


To the cloud. By the end of 2015 this
figure is on track to reach a tipping point

Of 50%
The impact of a connected world

The impact of more than half of


Humanity finally being connected
Will further accelerate change
A new age is upon us

i believe the world is going to look


So different in the decades ahead
That we should consider ourselves
Entering a new age
The innovaiton age

I suggest we call this new age

The innovation age


The INNOVATION AGE

Instead of the lucky few having


Access to free cloud education
Soon all humans will be able to access
EdX, wikipedia, khanacademy
Itunesu, udemy, and coursera
The INNOVATION AGE

As we enter the innovation age in 2015


We stand on the shoulders of
Giants who have come

Before us
The INNOVATION AGE

Synthetic biology is here


Clean energy is here
Global connection is here
The platforms have been built
The INNOVATION AGE

We are entering the most exciting


Time in human history
FOR Creators and

Innovators
The INNOVATION AGE

The greater the cultural interconnection


The faster memes can replicate,
Learnings can be shared, and progress can

Be made
The INNOVATION AGE

The rate of human progress


Is a function of the rate of ideas

spreading
The INNOVATION AGE

And The rate of ideas spreading is a function


of the speed of communication tools
And the level of species interconnection
Human cultural evolution

We’re culturally evolving as a species


Faster than ever before due to rapid
Communication tools that are spreading
Understanding and connection across
borders faster than any time in
Human History
Human cultural evolution

The speed of communication tools


The level of species-wide literacy
And the level of species interconnection
Are all rapidly increasing
Leading to the rapid evolution of
Human culture
Human cultural evolution

There is a palpable sense that the leaders


Of the millennial generation
See beyond the divisions of national borders
And religious identities that have kept
Human beings apart for
Millennia
Digital Natives

The four billion digital natives born


Between 1980 and 2015 intuitively
Understand global connection,
Species-level identity, and innovation
And will be leading the next
40 years
What millennials see

Millennials see entrepreneurship


As a tool for

good
What millennials see

And we see efficient, effective


Transparent, and tech-enabled
Government as

Essential
Socially RESPONSIBLE CAPITALISM

In the 200 year debate of


Socialism vs. capitalism it is
socially responsible capitalism that will win
built on a foundation of efficiently-run
Cloud enabled
Government
The GREAT OPPORTUNITY

Our next great opportunity is creating


A carbon-neutral world in which
Every human being has access to what
They need to

Create & ThRive


Entering the innovation age

1712-1950
The industrial age
1950-2015
The information age
2015-2050
The innovation age
Entering the innovation age

WE’re entering THE


innovation AGE!
Entering the innovation age

the age of ubiquitous


global connection to
people and information
For everyone not just the wealthy
Entering the innovation age

Soon everyone will


have a cloud-connected
supercomputer in their
pocket
Entering the innovation age

Education will be
democratized
Entering the innovation age

Atrocities will be
publicized (Better publicized, at least)
Entering the innovation age

Bad leaders will be

exposed
Entering the innovation age

Dense Networks of
world changers will be
constructed
Entering the innovation age

Imagine the
world we can
create
Entering the innovation age

Imagine the
world we WILL
create
Entering the innovation age

It’s time to show


our parents
what we can do
Lessons from my 20s

Staying in
touch
Let’s work together

Let’s find a way to WORK TOGETHER


AS A GENERATION
TO CREATE A WORLD THAT IS SUSTAINABLE
IN WHICH ALL PEOPLE HAVE ACCESS TO
BASIC HUMAN NEEDS AND EVERYONE Can
ACHIEVE THEIR DREAMS
Exercises

Now that you’re at the end


Don’t forget to put time on your calendar
To go back and

Do the exercises
Join the Hive network

Hive is building a global network


Of leaders & entrepreneurs under 40
Dedicated to creating a better world
I’d love for you to apply to join us

www.Hive.org
Program Influences
Here are programs I have participated in the last ten years that have shaped my
perspectives. Thank you to all of the individuals behind these great organizations.
For Further Reading
The following resources were extremely valuable in the creation of this work:

Films:
Connected by Tiffany Shlain
Mankind by The History Channel
The Commanding Heights by PBS
The History of the World in Two Hours by The History Channel

Books:
Abundance by Peter Diamandis
The Rational Optimist by Matt Ridley
Anticipating 2025 by The London Futurist Society
The 100 Scientific Discoveries That Changed the World by National Geographic
The Power of Habit by Charles Duhigg
Rich Dad Poor Dad by Robert Kiyosaki
Think and Grow Rich by Napoleon Hill
How to Win Friends & Influence People by Dale Carnegie

If you enjoyed this presentation also check out

www.hive.org/book www.startupguide.com
How to get in touch
Send me a note or a Tweet. I’d love to hear from you!

ryan@connect.com

@ryanallis
Dedication

Dedicated to Mom
Pauline Ann Middleton Allis
March 29, 1952 – May 25, 2012

A mother who inspired others to

1) Love Everyone
2) Be Confident
3) Dream Big
Lessons from my 20s

THE END

You might also like