« The Tony Robbins Podcast

The Future of Food, Energy and Space | Tony sits down with 4 visionary business leaders creating solutions to global problems

2021-01-08 | 🔗

This past year was a trying one for all of us, and this new year has started off with challenges, too. It would be easy to believe that we as a society are headed in a negative direction, to be fearful of the future – but as Tony says, Fear is simply imagination undirected. What happens when you give direction to your imagination? That’s what we call faith.

Faith is not learned, it’s something we are born with. Faith is what fuels us through times of fear and uncertainty. It is more powerful than any emotion, even fear. When all hell is breaking loose, it gives us the ability to find our center, to help ourselves and others to find answers, to find a higher meaning in the midst of our pain and in spite of our fear. And if you’re a leader, you take that certainty and transfer it into others, because human conviction has a viral effect and will spread. Faith is knowing that at our core we're more than anything we will ever face, and we can handle whatever life brings us. We always have and we always will. That is the power of the human race.

In this episode, Tony sits down with four extraordinary human beings that are working to solve major global issues, who believe so strongly in their solutions and have so much certainty that it’s almost contagious! 

These four leaders are not only world changing technology experts, but the founders and CEOs of companies that are bringing the stuff of science-fiction novels to life. And faster than anyone thought possible. They're doing things that will change the lives of billions of people all across the globe. Their ultimate outcome is to increase that quality of life for everyone in existence and for generations to come. 

In this episode, you will learn about: 

The future of food. Hear from CEO and co-founder of Upward Farms, Jason Green. (Yes, you read that right – he may indeed have a green thumb!) Upward Farms is a Brooklyn-based indoor aquaponic farm sustainably growing leafy greens and fish with the highest ecological and quality standards. Jason is changing the way we grow food and challenging the environmentally devastating practices we’ve been using for so long. 

The future of energy. Learn from the genius mind behind the monetization of search words, Bill Gross, whose company, Idealab, is the longest running technology incubator in the history of the world. He’s taking on sustainable energy like no human on earth has done before. 

The future of space. Hear from Mikhail Kokorich, CEO of Momentus, a space transportation company. Mikhail’s commercial and private space travel is the stuff of every sci-fi lover's dreams. But he’s taking it from beyond the pages of books and movies and making it real with special water propulsion technology. And he’s not just stopping at transportation. 

The future of business. Tony pulls insights from founder and general partner of Prime Movers Lab, Dakin Sloss. His company is all about seeing the value in people’s visions for starting new companies, and providing the funding and guidance to get them off the ground. But these aren’t your average entrepreneurial startups, these are companies that will change the way we experience life. 

Most of you know that Tony is incredibly passionate about anything that can increase the quality of people's lives. He’s obsessed with finding answers and solutions. He’s also obsessed with finding entrepreneurs and companies that are on the brink of changing the world and being a part of that in any way he can. For Tony, this usually means more than just investing with them financially, but going on a journey with them, and investing on a soul-level. We hope you enjoy this episode!

"I'm obsessed with entrepreneurs and companies that are about to change the world." - Tony Robbins

This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
The charter flights to Mars indoor occupied sustainably, farmed greens and fish with the highest ecological and quality standards, channeling renewable forms of energy to replace those that cause harm. No, you have stepped forward and time to some futuristic utopia. It all happening now see the events of the past year and even just this week contest anyone's faith You ve been struggling to see the good when it feels like there's so much bad happening all around us. This episode in which tony interviews, visionary leaders, Finding solutions to large scale. Global problems like hunger, mites to restore your faith and even feel your optimism for a shared future. As you'll hear the bed
It is yet to come, woken anybody, Robins, podcast unreal excited for today, because you're gonna meet for extraordinary human beings that our world changing technology, experts, founders of companies, eels and founders, better pudding companies that are just ideas there right now moving forward and are beginning to things. That literally can change the lives of billions of people in there's no hyperbole exaggeration and that most of you I'm so passionate about anything could increase. The quality of people's lives are obsessed with finding answers and solutions. I'm also sets in fighting entrepreneurs and companies better how to change the world being a part of that trying to help in any way I can with them investing in them going on the ride with them. So, together we can have this experience of just increasing that quality of life- so we're talking about breakthrough CEO founders here today for them in the area that really impact the quality of life on earth against them like such high government, but it's real the euro and
in a world where we everyday you're, so much about the pandemic or about the economy or about whatever you gotta. stand back, your people gets second, what's right in front of it, when things are going terribly people mean things going so terrible forever. These are going like deepening is going to great forever. Life is not like that. Life is this process of circular history, but also the overall like? If you see a straight line, it's not a nature Mine is drawn by a man or a woman by human in nature, grow by going up and down a little bit up and down, you're, really successful. The only arcas up, we as a society have these different waves that affect their economic waves there. As you know, a virus waves, but when I was the waves and humanity today is technology technologies right can change ever What once was scarce becomes abundant in my dear impunity reminders as a perfect little metaphor uses. It goes. You know, apples until we got a ladder sudden, there's an abundance of apples. You couldn't reached before
Simple technologies can literally change our lives and math I mean I remember looking back in eighteen. Ninety six, ninety seven hours at the time, extreme. However, there is one point: seven billion people extreme poverty living on less than two dollars a day. Today, its tune and twenty seven million so little in a short period of time we take an almost a billion people. Plus out of poverty is still too many as far as I'm concerned, but it's because of new tools and technologies that we can do this. So this is a session strap yourself in two: learn about how to grow companies but more importantly, tools and technologies, how they come into reality. What's coming now, bigotry, the quality of life rap. So let me introduce a panel for starters. First pausing, here's, my dear friend Beargrass. How are you bill rate demonstrated here if you don't know, Billy the legend. This is a guy that started his first solar company in high school. You found it when he called ideal. One which started hundred and ninety six,
the longest running technology incubator in history. Fifty companies have been started out of this one incubator. forty five years companies have been IP out. I mean bill. Is the only entrepreneur alive that it started seven company so scratch exited them over a billion dollars in revenue. There's no we quite like em. It's a privileged out your bill and we're gonna talk to bill about some of the new companies has that are going to change the environment to gender people promising things in the future. This is happening right now, as we speak of your word about global warming in a word about cutting back all the resources of humanity as opposed to finding a better way to transform it. Bill is got answers that are gonna blow you away and you're going to gonna. Enjoyments next is applied, and close to my heart because most you know I I care very deeply about hunger in this world and we have a real problem So if you know that I started an x prize,
The first million at its fifteen million dollar x prize to feed the next billion people that are coming into humanity, where were growing very rapidly in our population still and work were destroyed. The planet, the way where his food, and so this. person Jason Green, is the sea on co, founder of a place called upward farms, a broken. how you doing their brother, good ASEAN, on great turning area for combating your view. Your last name, my green out of your farmer, children, ran down that when my dad gave me that was really interesting will come back to those we go and your story a little bit. You He started out as a neuroscience researcher Albert Einstein, medical school, any help, patients who built the Argus virtually the tools to help people what they really want to walk again and now building these vertical Otto panic, sustainable fires for leafy greens and fish, it's it's, most probably aware that the cost of thin worldwide about half of it- roughly am I correct
was Jason, is forty percent thirty percent that just transportation getting food to you and you showing us how we can grow their own food where we live in these big urban centres, any cities and scraped out your Jason? And thirdly, we have you Mikhail Poker, rich in girls? Here's a guy that started first company in nineteen years, all these from Russia. He has this vision, he built the first. You know private. space company in Russia so that company, a very young age deciding want to come to American? He wants the power humanity into the solar system. We want to make sure that when the inevitable happens in further with the buzzer good son takes us out that humanity can continue to succeed, and the first steps is going to maximize what we're doing right now in this space raise that's happening to some of the big boys out there verging on blue origin and so forth, and he's got Some tools there, just incredible. the ability to propel these space open satellites with water,
three times cheaper, it's safer, it's more efficient and as well Governors watering the moon later on Mars is what an asteroid to me. This is a way to provide the fuel to literally propellers end drop, the solar system and beyond brilliant man, greeted him gale? Thank you for being here may go so and then finding my dear friend and my partner and that's dickens, loss deacons. Founder and ease the euro, the general partner, a bribe, prime movers lab they invest in break through scientific startups, and there really obsessed with finding what they call prime movers witches people that are in centres of technology that can transform billions of people's lives. and the interesting seed stage in those early stages and reinventing energy and transportation and infrastructure and human habitation in computing and
a small number of companies they focus on, so they can over delivering. Give maxim of impact- and so you all know I'm partners in him, so I am. I got in partnership with them because I was so blown away by the impact these accompanies these. They are one of obesity, firms. give you some money and they sent you push you a little bit. care. They really give. How much can we make a difference in the company and taken union Gaddafi of really I've been with us all started with you, and I guess you're platinum, Why are we started doing deep conversations about doing? I was completely blown away, so our thinking for being here, and I want to start with you. How are you doing brother I'm doing great at such an honour to two beyond with you and with these three amazing human beings? You know we're. In a business where it really about? The ceo is the incredible leaders that are making huge prince in the world and I'm on every day to get to work with me down bill and Jason and hopefully other small part to play in the much bigger challenges we face. Is that obligation
Well, that's right, too, there's a common thread. The reason we brought all for you together on here and especially the three their running. These individual companies is there you're. Also your founders that have a unique level of technical, logical expertise that you bring to the table. You're. Not just to see you and you have visions that extraordinary? It's not just how we build a business and sell a bunch of widgets how it changed the world. People say that, but you stages in your company words, no longer a vision, you're starting to maximize and make that happen. So stop asking each we wanted a time. Can you tell me just a brief aspect of the story, your company, how came about and You mean about your company. What you really trying to build today through this company and they can start with you bill because you know just to remind everybody, builds a guy killed hundreds. Fifty companies right these companies of us every area. You could imagine different industries bill. You seen so much of these last twenty four years since you started your your idea,
that's format till we knew three companies will talk about some madeup. I know you want to talk about Helio, Jan, but If I may, there's three companies that you have evolved and all have to do with changing the environment right and the IMF. I'm a beers, and your will. The challenges we have most of you know is that today you notes. So or and wind or actually cheaper than petroleum for the first time in history, but there's no storage capacity, someone if you might talk a little about the storage company you and then secondly, that Helio Jan, what its providing an internally just a little bit about carbon capture. I know maybe use overview of how you came to be in this position. And what are you trying to accomplish a thank you Tony. I really I feel that what you said earlier is maybe the most important thing on earth right now, which is help the planet in every way possible. You talked about keeping people out of poverty, lifting a billion people out of poverty, I think that number one thing that can move people are, poverty is low cost energy.
look how energy is a is what has made civilization possible and the challenges, and we ve been getting on cause energy by burning things. If we a low cost energy in a renewable away, We can really have a limited amount of it and not cause any harm, I got very passionate about all these side benefits. What would happen if I could focus my mechanical engineering, tell it on the energy problem and I'm thinking about it from their point just making the world better, not even worrying about the benefits on climate change. Are you going to believe the climate change to believe just giving people a better life energy could give to people? So I feel like You look across all the United Nations development goals to give people freedom and security education, all the things energy behind every one of them. yeah there's a lot of leverage there so that companies,
and about making local, solar energy that can be around the clock, low cost materials that can be made from the sun, so she better country, better steal that are aluminum that we made with cuts. trade sunshine and then, as you said, energy storage, because we can now make energy for the first time ever cheaper than fossil fuels. but only comes when the sun is shining with the wind, is blowing You hold onto that energy to what we need it like after the sun goes down haven't. I demand so making sheep energy storage turns out to be very, very hard, like batteries are very, very challenging to make them sheep it. on a small scale, berries and out even have to be used in cars. What first they were cheap enough to be used in our devices. That was easy card. I was that challenging, but to make batteries cheap enough to power the entire grid, that's really hard. So I started looking at other ideas, other ways to store energy. We came up with this gravity method that is, energy if I might mention just we're going down that later on, but energy, both
explain how simple goes back, came up the kinds of you in the team, the idea of the most affected way of getting energy in the past, at least the least destroy. It has been, as I understand it, when you using hydropower, tell them what what what a simple ideas and want to know how big its ground like, although from the size, borders you're getting now for the simple solution that can allow, to have energy, twenty four seven from the sun. Well, most of the energy in the world today is used as its made. meaning ninety nine percent of every electron made by every generator in the world gets used as its made and only one percent is stored. One percent is currently stored by pumping why rubber hill, basically You look around the earth for a mountain where there's a reservoir in the top and her husband, the bottom. You fill the thing about with are the bottom when you have access energy like when it generators, reducing power, that people don't need you pop water up and out into the town but you said, and I reservoir when you want
What about you? Let the water flow back down, turn a turban, yet a direction make electricity and you get ninety percent of the back or eighty percent of it back because of friction losses. Well, the problem is that relative the effective, but all those mountains are used up everywhere with his reservoir of areas where down they are so was bought out and turned it into was called pumped Hydro pantagruel power. We popping up and get it basically about using a damn like you do in Vegas rape as basic exactly so, the only way to get a new location for pumped idle to build a dam in a valley, but then you joy. That area, because now you stopped river flowing to to get your about in your your mountain water. So we we're trying to figure out a way help, you stimulate bad, but without a strong Eddie land without leaving a mountain. So we're trying to look wait what what about if we built our own mountain, like we made a big mound of dirt or what about? If we made a big column of cement and filled it with water and pump the water up and tried to call him and had to come down to the pool
what about it? We made a bill which I always ideas, but they were all too expensive and at their ease y know, I thought they were too expensive, but then the idea occurred to us of making blocks and stacking him so effectively. We build a mountain every day by stepping up the blocks and understand that we have a crane, lift them automatically. Since it's gonna be wanted continuously. You can't have a crane operator there, so you have the rights offered to make it all work autonomously. We're use cameras to locate the blocks, clever stacking sequence, but effectively by stacking a bunch of thirty five tonne blocks their big blocks. Thirty five ten blocks their one meter by two meters by four metres tall. You can build a twenty five story, building each day with extra energy and then. and build it each night. When you need the power back and it's actually cheaper the punt hydro and you can put it anywhere because you don't need about. In fact, we were we're. Making amount in everyday abandoned understand an urgent and clean were using solar power and energy that you have failed in the bay. Cream lives these giant blocks and then at night
Release, is them in that chair the term just like you would have you actually have euro entire them and you have that electricity available to you and the efficiency is cheaper than any other source of God and worker response. If you can find a marketplace unless it was incredible. First well said we were nuts not another assumes a crazy idea, but a lot of them. You start out like like a breakthrough, is a crazy idea up until it crosses over that's actually a great line for Peter nine Henderson about what you want to fight there's something in not technology that can solve the problem, but that does seem a little bit crazy until you prove the science of it. So we built the first prototype each other work. We ve got a full scale version two shouted that really work to deliver the economics inefficiency at each year. It
stores. Thirty five megawatt hours, which is like enough for a whole city and each one of those unit costs about a million dollars, and we got worse for twelve thousand of them, two hundred of them, so ten billion dollars of demand for that's just like it in no time really is is amazing. How much global demand is for energy storage. Really, and do this in the desert. You can do this anywhere. That's the beauty of this power of it is the elegance. How simple it is how efficient it is. Just when we talk anymore death. I want to talk about you guys come up with new types of answers. A little just happen overnight. iterating iterating reiterating its that's, been your history bell. Aren't you said, there's no straight line. That's exactly true. We had a very zigzag path to get to this. We try a lot of that didn't work, what we learn from each one of them, in course, directed a little bit little bit like, I think, a good analogies. What you're describing is, I think, to be good entrepreneur. You have to be like a key seeking missile that is continuously adjusting us
see you get it. There's some target out there, which is elusive and you're gonna, learn new things to come, Was dragged along the way and and also we tried to do with this idea and it really work What do we voted at? Seven companies are you're. Very humble man are, you are the most humble guys I now I have such a love for you because you're so driven to serve its not about you, and I think that's why you build such great teens. Nobody wants to work with you, but it looks like it will be your each company, the thugs fits thing at ten telecom talks. Wars are ready to tell us about. You know what I do want more deadly go there. I'm taboos keep going deeper view because so many pieces here. Tell us a little bit about the beer solar company that takes the energy the sun and produces enough heat to drive industrial energy. Why that is so important that affects our future. Well, right now, alive. Our use of energy is for electricity. but a way better use. Our energy is for heat for making all of our built world by twenty percent of our global emissions. Forty percent about low energy is just to make
cement and steel and aluminium and all of the basically He's embedded in everything around us is that we will be used to make it and that can be replaced easily with electricity. Does that requires high temperature, high Where does industrial processes, so we are traditionally that would be cool. What else would be the use of murmured? He call on gas and are given for cement. They burn all tyres they burn trash. They brought the worst thirty stuff to make cement. So basically, cement comes out all pure and clear. We have a very pretty building but the stop there we need to begin to cement was awful, releasing a terrible emissions. So You want to come up with a way to allow us to make those materials using the sun as well. So using a system of thousands of mirrors. Imagine a field with thousands of mirrors. Almost there rain is almost like petals of flowers spread out over the land, so, like farming, there is a spread out but there are computer controlled, so they reflect the sunlight to a single spot at a single spot. We can it
Very, very high temperatures actually achieved a third, the temperature of the surface of the sun. Fifteen hundred degrees centigrade right from the all those being reflecting to one spot. Now with that, you can make cement, but you can make it without burning anything. You can make it completely green from the sun, so we want to try and take the same technology same and apply to many processes to make all these building materials in a much cleaner way beautiful and Bill gates's. I know if an investor in that and the last one when I asked you about Mcgann, will go deeper later, but what are you there? Three carbon capture mark beating off my dear friend, I were the first to people to invest with you on that. One is just a concept people you doing so many people are worried that we, you know we ve been hearing. These factors like in twelve years, were beyond the point of no return and a lot of fear out there. Why people, to figure out what to do in your country, information, but you got practical solutions worlds. I love about you is it's like
Like you said you don't have to be green or not to worry about the environment. We're gonna make their swords economically feasible, tells of about carbon capture and what you're moving on a matter. It will there's two ways to avoid the co2 in the atmosphere. The first is not to put it there in the first place, but the second is to maybe take it out, and- and there are some processes they'll be very, very hard to avoid. Putting in the atmosphere like air aviation is very low. hard. You make a solar powered airplane to go a long distance you can make a very small planet could travel a short distance but Intercontinental travel, you're gonna need a bird view. So what have we can take the co2 from their fuel back out? atmosphere after was already placed in their from an airplane. Well, how do you do that will take energy to do that? it, takes energy to do that and you burn fossil fuels to make energy interviewed the purpose and rejects any to do that. You can use all energy to do that, then you could actually do it in a clean way and if you could take that co2 out,
for less than the value that has being taken out. You can actually do a profitably, so my goal is to come with his solar powered way at this company carbon captured, do use heat from the sun to take the seal to back out of the atmosphere and then turn their back into something else. so tat people will pay more. For that, then it costs me to take out that does it could be a scalable business challenging, but the physics completely says it possible. it's an engineer. I shall just not a breaking any laws of physics challenge I love it when there's an engineer, a challenge without means are just smart brains can get together and solid. Look like he said the beautiful thing about technology today you can use your brain power and make something that has global impact because the whole world is now your customer, I think, of the business I started twenty five years ago there were more businesses that you make a product the seller. You gonna partner, retail, store. You gonna, find customers with no internet. You can reach people now.
Global marketplace you what you're making! So if you make something that it backs people's lives, it could touch of our planet and that's why braver As such, it is little bit like Archimedes, Gimme, a lever alone if I can move the earth now you can your brain power to really move the earth in a positive direction, never so exciting, but entrepreneurship right now that's course of their work to come back to you better get the next entrepreneurs. What does that? future energy. Look like there in your mind. How far out is it? Well, I think this decade we can make energy round the clock cheaper than fossil fuels, and- up to now, better solar energy, renewable energy was more expensive than fossil fuels, or it was only less expensive for a few hours of the day, Michael to make it cheaper than fossil fuels all day long. If you can do that, then why did you fossil fuels is just cheaper, so I think to make people shift, is not a beggar cajole them. A job is better for them. Just make an economical. You make economical everybody will want to do it. I really do think that money drives this, so I think that's it that way:
to go. It really does gives evenings like how long you, where you know there have been trying to be a lead in the country by creating regulations about using. green and renewable fuels. But then you see all these blackouts that occurring because they don't have the storage capacity that you're not providing. That alone changes the game that could not be exciting God and solve. Privileged Abbe, use a rattle and see what you're doing beyond a cutting edge with it. I really excited the people you're bit. Orphan Now, let's talk here with Jason, Green Jason, Tommy low your history. If you went out this came about, as I alluded to earlier chauvinism, what you are you're researching, neuroscience you gonna come an m d, a phd in and you you created the are worked out. People are not walk again and now, all of a sudden you getting vertical fires, robotics guzzler, came about. You know it's it's an tawny. Thank you for having me it's it's a little bit more connected. Then it seems you biology at its core
is what we are looking at: a plan to you're looking at people, this kind of funds mental laws that govern performance and and the work that we were doing in a medical contacts with. We are developing these environments controlling everything that the day she could experience so propitious to allow the ability to walk because of a non spinal cord injury. So let's say that they lost things in the bottoms at their feet. Now imagine walk around the world. If you couldn't feel your feet, how would you know when to pick it up, but it down? Imagine if you had come. did Vertigo. She, basically you know, you're you're lost at sea all the time. No, what would you do if you feel your relationship with gravity. How would you know you're sending upstream, and so what we do? You create these environments, where we're controlling all of that through virtual reality for patient. So we are creating a visual environment that was showing then it could be chasing a balls I or it could be their body as an avatar and by playing the sensory environment that we were showing meets patients wicked to them. So they could be
more sensitive to. For example, they lost if they lost their therein noirtier. Equally the broom system they have constant vertigo. We can train and to rely more on vision and so is through that door, thus creating these environments that ultimately brought me to endure agriculture. The kind of the fundamental argument in it in an indirect we're culture is the same. You ve got is biological thing in this case a plant instead of human patient. and as an operator controlling everything around the plan, your controlling the temperature controlling the light or to turn the humidity or to turn the nutrition about your creating the sensory environment for the plant and how Come from designing environment around improving the performance of the most complex system in unknown universe, human brain, you know how you could do that for plants is pretty straightforward and coming added from
and what a computational biologist. The key thing is: you have to figure out how that system computes its environment? How does it take that information in and turn it into meaning Outputs until the labs that I worked in a narrow science contacts had spent years figuring out those models for human brain performance. lot of the companies and indirectly, culture developing these models around plants, and will we felt was messing with this concept of the Micro Biome, the Mai RO by MRS invisible layer of bacteria that lives in and around all living things, and it can account for up to ninety percent of the genetic activity of organisms. and so what we felt was met say when you try to design an indoor farmer, can produce extraordinary quality products at below the cost of fuel production and that two bills comment by making it economical that, as is the the only role that that indirect or culture vertical farming has in the market is if it is a more cost, effective
solution them it's coming out of their field. Otherwise, you never gonna make a transition does was developing not just that model around the plant, but developing this whole ecosystems that could cultivate all might occur biology that you find him a man soil, because that we're all the processing is biology and you're you're doing this would like ninety percent less use of water. I mean I've. I've been looking because of wanting to feed people around the planet and with even more we're doing putting together fifty million dollar x prize to be the next billion, while the first things I tat was vertical famine, casino. You want to get these in cities all around the world where you got concentrations of so many human beings and no matter what I saw. Nothing was practical. Nothing was pragmatic, nipping was even within the reach and you go. are already starting to do this. In a point, it sounds like where the cost effectiveness makes it worthy of doing that. Dimension, equality, the product, but how are you using so much less water doing this in your having a full blown ecosystem. Can you give us a little hint of understanding yeah so that the fund
blown ecosystem here is what what's what's happening in an ecosystem. You ve got animals plants and microbes all that invisible stuff, but I call the microbial no that's. What's what's in an ecosystem and so in our ecosystem Cultivating fish and those fish are not only a source of protein. The world needs more sustainable protein fish, consume more to growth. Bashful for protein is, is a fraction of the carbon of producing whether its chicken or beef, I'm all those restful animals use a huge. Mt of energy produced a huge amount of carbon fish it it's a tiny fraction between. You know thirty, if not hundreds of the energy, to produce to produce a pound approaching so here is contrary to the challenge of courses with all of this must be. Oceans were saying that already happening within half a billion people we cannot support it.
Also there is so much pollution. I had mercury poisoning. The boy was resting, perhaps because I was eating as very disciplined salad adverse now in death when it was sword version tuna which road there do you hear sets big big roads would older age. They require all the mercury from the smaller fish, so you're doing hoping mercury refresh your prayers I've been abandoned. Its cleaner there's, no call like it's pretty extraordinary, clarify that everyone. Yes, we're, because we were able to control everything about the environment from the water conditions to the sea you know what the issue it with two now: no while this tunas at the top of the food chain. So it's eating all the things that have eaten all the things that have no other things, and so you end up with mercury poisoning right. But what, if you could grow that that same that same fish but control the feed that it's getting, ensure that if the high quality food so that see don't have pollution. You dont have heavy metals like mercury and that's all rebel. Do you think our agriculture, and so our ecosystem starts with fish within
break down all the waste from the fish. You say: come a process like grim beer, raising microbes to transform their waste. Into an organic fertilizer. Were then growing plants in a vertical farm were providing all of that fertilizer direct Lee into the plant routes, and so to your comment about reducing water used by ninety ninety five percent. The big issue there is were controlling for the run off me. Evaporation replying to the wall, that has to fertilize there, that's irrigating points directly into the roots. and you don't have all that water was into the ground or into the atmosphere. To me, what does the future food look like to you of Europe? I think, a lot longer delicious and I like good actors, officially a delicious? I know that's why passions and like the gap that you know the future, the future of food has to be. More delicious and more affordable than it is today and and for us, we really started with. If we are going,
enter the indirect or culture market has to be cost competitive. It has to get better option. Then, what's come out of the fields quality of course, safety. Of course it has to be something that the consumer that you and I want to eat for dinner but if it's gonna make a change to the marketplace overall, it's gotta be more effective. Setting that What we're gonna see in terms of food is it's gonna, be an improvement in the flavors can be improved. went into nutrition can be improvement and texture. I'm all those things that you really care about in your food and all of that will be more efficient and you won't have to think about. It will be by and by the nature of it being a more delay. just a more affordable product markets will transform themselves and it can be done locally, and it can also make a huge difference on the pollution of the plan, or lack thereof in this case is beautiful. I want to go deeper with you, but I want to make sure we bring Mikhail into the conversation me. I'm a girl,
tell us all about how this dream about. You been fascinated by space from a very early age. I know you built several companies successfully over in Russia and then your dream to come here puzzled about and tell us about some of the breakthroughs what this propulsion system has driven by water. If you, yes, thank you in a small siberian Village, the space always was my but even fascination the women or are you was a small keith I'll call you sinking like? Finally, I would like to work in this area- and I remember Bacon- ninety nine, this city, when I was sixteen years old, it will even in the new global newspaper the day I want. I don't do they want to new space propulsion Finally being given space exploration, I guess I'm you'd like a similar. companies in different industries, you when I was started us about machinist. I built companies.
manufacturing people about the family Middle EAST crisis, since eighty five and eighty six the thing to do something interest, am I start building, is based companies. when one when you studied momentous. The idea behind this was pretty simple, obviously goes into the space is a new digital and domestic law. you did, it is impossible to imagine without passport. The invention of information of new means of moving like people and goods like I always aviation containers has created the modern economy. Let me know, space exploration is not an exception. But the physical nature is due to the enormous challenges, because here on earth were on board always huge gravity? Well, but you know
the warning it, and if you degrade unit books, what it thinks it usually was. Eighty eight global per second was twenty times faster than a bullet so, and so it is argued and faster than a level all accounts as a great with people understand. Please can do and finally, the lives and five percent of the initial look it's thirteen months, but each in orbit. So that's what actually lies, how to make its cheap, its allies and irreversibly, and it must production, but we had any of this work at science. We basically comparable to the large rocket sizes unnecessary and drives us like a g for problems like Spacex are rewarded, Jim with the open, huge big gigantic usable rights, waking Spacex, evil black starship newborn, and we will see this launch was into space
Just a few hundred dollars per kilogram open a lot like opportunities, but then the problem is, like the Rockets only efficient to launch myself into law ordered, but if anything should be carried out and you from parliaments, would you leave it to the top of the gradual waken, Joe singular resort to the moon or develop elliptical with equal additional like a city, sixty one we're. Secondly, another brings you it's a wallet and issues conventional Iraq is for these waken me. Proper children must use from five percent to one percent so too didn't want. One form of like a car gave me this double hulled once in many cases, even mass is much listen capability. Future local Sarkozy produce expanse of small and medium sized companies, and it's all require multimodal preservation and they can flights which actually never was
use no space when you have you she broke, has delivered an incredible to orbit and the last mile space vehicles, spaced accident, misleading region, gotta get between orbit the high orbit, everything away. We deleted my notice in two thousand and seven, because we developed a space tags and haven't spoken two more transportation to space and work in an office for commercial mission actually early next year in January, with the Falcon man, but I sure, but the main challenge, how to build a space tat in this mood? You really cheap video almost the answer? Is how to build a truly the nature of the propeller use and actually contribute to the cost. A lot if you like a chemical proportion with his genuinely good oxygen is expensive if useless, like high.
Pressure zeal, only extremely expensive social labour experts, so we found was able to use water as a proper and it's not only make old vehicles extremely cheap. I like to build up our egos, no big from my max more socially, it's simple: Damn seaports, but anomaly, but but also the water was gonna meet all in the solar system. You have water everywhere in the moon creators. You have what I say what's so it must be acknowledged that not only have a short term advantages but launcher because we have been used given by us to us by the solar system process over the water what we need is more jobs, sustainable way how you might be moved with his new element to the solar system, with a space and what? What is it? How does that affect the average person? If I ask you what the future of space one moment, this really trying to do and how will that
the average person, so they get a perspective as well? Why do you want to create this and what's it going to do, for the average person you're on earth deployed. She'd, look sometimes underestimate the bailiff, even existence, basic knowledge, Let us imagine that tomorrow will have on some sort Flynn and all satellites will basically what I should get a cab By the way, it's like that. I'm probability in Iceland excellent were also raised will be wiped out. What will be indices? It's not only you'll lose Bobby. You like a tv connectivity almost like a signal of the precise time, saw all the cash machines working. You will lose like a gps signal so that I'm on vacation bomb more paper. Let's and then people cannot use you look like you're not brought about a little behind all like uzbek bookseller ballot, get before them. We with so much even with this.
About, but actually to move them up even more like a space and also, for example, because of huge forest fires and california- and I was as you know, one of the largest wars company in the world and then you that, if you can get through the forest, fire wouldn't want our athletes, but if you can actually easily to fix it was like a just helicopter or was the ones, but now there are more subtle consolation that kinda thing could later within one hour. It's completely. We want them or look out for even a good portion of the delegated, also moisture content that a law like us as a lack of vision and political existing I'm not like looking even about liquor environment will even here in the Bay area, and we have so little cabotage in some places so that are more either metal, hopefully whistling Estonia and other projects, it actually be. The new digital services. Spacephone is pretty small. Now they're, just four hundred below the bullets. the zero point, nine percent of global GDP, but what we believe that we are
ignore each of these new big gold rush in space. there will be many applications, meaning you you can try this economy. Could become the rule of law, And change allow life. Well, here again when people now. This is not something that your dreaming about it. You got contracts at NASA aside start just track almost thirty percent of their. I was given a result: people started jump on its way. While he's got a technology that can make us I've space It will be so much cheaper and all these resources moving satellites around there's some space jumped people realize that's out around the earth now to start to fall into the atmosphere etc. The real issue, but no one it's all about space trash the poor, but you will be better protected New things in Egypt, opposition are captured, themself, pretty darn, exciting what you do a job, if I asked you the future of space. What does it look like coming through your eyes as a pioneer working with these other pioneers? I think
any future space and that it will become more sustainable, so will use of space and space applications to know many things for manufacturing, falling energy production for data mining waste avoid mining for getting older precious metals from from the moon or from other still it's under it sounds like a fiction, but action we see that the number of circulated launched like ten years ago was was summoned to supplement this you're up tomorrow. Those motion was on one so on one hundred subtle, eleven years later, this year alone? That's while business here additional ten years ago, but those who should have something to settle its ear and this just now labour, it's one hundred one thousand one hundred satellites alone this year. Only satellites are around the earth right now circulating around you know ten thousand,
Let us at last year and launch was like a brought significant, repeal it basically to order of magnitude that used to be a hundred thousand dollars. Now it's legit few solar blossoms would be few hundred bucks. Into about so many new ways how to use a space manufacture You said mining all these things. I mean you, I'm. Here's your vision but you're you're feeling avoid for these gentlemen? Who are these reducing areas. There are building these huge rockets, you're feeling the void about a connect and move these things into different locations. Very exciting! Congratulations! You, let's go when taken. If I may say so, brother. How are you I'm doing great thanks for having me any on tell us a little bit about you have a unique history. You start out move in one direction alive. You made this. U turn on your return, so to speak, and now you're seeming to collect some of the smartest people, business. I know
fund is performing level. I got a call from politics or Jones or an email from the other day, and he was saying copy lino someone else dating back. he has money in your phone but saying we should do some more with this fund and you got me Tell me more about those guys. This really real and in the letter it talked about, you might have some of the highest returned since twenty eighteen BBC funds released from the top grouping, tell me about your journey, tell us what you really driven by what are some of these companies. You know that you can pull, do that, are really changing the planet or have a chance to change the gaudy life on earth. Thank you for having me on Tony To start? I mean my journey. As I was his assistant mathematicians studying at Stanford, and I thought I was gonna- go work on academic pursuits, and I really realized. I wanted to have an impact on the world's here today and now underway. To do that is to build company is like me, cow until Jason are doing, and I previously built tat companies and makes variants was actually sitting in the hot tub with Gabby, and
talking about how broken viziers- and I just wrote a blog post about this today. Yoke The notion of founder friendly we see today is Someone cut you attacking moves, you alone, which tells us who, at the other very Caesar jiggle, which is messing everything up by getting your way, giving you advice about stuff, the vision be giving advice and thinking. They have the answers automobile and you know I I as an entrepreneur was kind complaining about it. I was a during entrepreneurial. Go build a product, the fixes this and primal lab is the product that fixes it because we're actual actively engaged in supporting our founders and, at the same time, we're home enough to know that means you ve heard the things their building right now. Nobody knows the answer brow to build these things we figure it out together and we can kind of take your expert lessons we ve taken one, lessons from Newtonian that they have applied, that from accelerate, but we ve got to figure out how to apply it. Is these? Are such brand new contacts than so yeah? I mean it
end of the day the thing that motivates mused each of these com, These has the ability to radically improve the quality of human life and I think, would you bombarded by so much negative news, but at the end of the day, This is the most exciting time to be alive if we compare to what it was like to live a hundred years ago. Five hundred years ago, a thousand years ago, the quality of she's already outstanding, an extraordinary and its duty. Technology and in the next decade the level of improvement in the average human beings, life and the next The years I mean kings would have killed to be poor. Today, it's just so incredible. who is doubly with enemies they wasn't Farrah willingness, Barrow given to be able Why did you go to some place in a few hours that we complain about some times a few months or years are never in a war with aid you don't affair. Couldn't afford to have someone make you a two hour movie entertain you, provided fifty million dollars a wee bit and bugs work today,
People lost track of how great white desert you don't tell me what kinds of return to be seen by finding these early stage companies and what they all these. in order to sell, maybe I'll even link up. I believe that those interested know more about what you do, because I know anger, Jamaica, video. With all these matters falling about what you ve done its mind, boggling pal, you brought the key resources they need. It matches the capital, but the resources, the people, the elements to really grow their businesses puzzled about look. I love you using your find an end. What does your vision going forward? Jani? We. We are fortunate net are first fund is on track to be one of the best performing funds of twenty eighteen, if not the best performing fond of twenty eighteen, it's too early to tell, and I think at the end the data that doesn't have to do with us. That has to do with the quality of the seals. The call you the visions that their pursuing I mean. I love a butcher. This quota, it's one of yours, but you know you get along with insight based on the level of the impact that you're going out to have an obvious
we were excited to make money, but the most money we make us the same types of causes that your contributing towards supporting much more important is that impact that we can have an Amazing human beings have shown up in our lives because of the impact that we're going to have and because the contribution of going to happen, I think you know people get this idea. around impact I wouldn't holding impact investing, as I think the term has been tainted, died, a lot of people who went out to go fix a problem but didn't think about the economics of the way the difference I was thinking about the economic another. There is a whole wave of clean technology that didn't deliver on the promises, because people were story I'd visions like no notice unintended out in space, The amazing thing about what we're doing is it's all, backed up by science at all, backed up by hard facts at all, backed up by cost models. We can see the unit economics of these companies and we can understand this is not just going to work.
Going to be wildly profitable for their partners, their customers for everybody around them, and I think that combination of big vision with really grounded in like what we deliver the next twelve months. What kind of revenues be? What can our union economics D is improved? man, it's something that has been divorced. We see you get these big visions, but they're they're, just not actually tied anything real a lot of gold impact. Investing, like you said, was people saying I'm an investment. Something does as the promised to make a difference, but, as you said, there were no cost models, and so there, Many of those have been mediocre to say the least, and so what I love is this combination of being driven by impact, but with a hard science, the show that you can scale something and then finger as build as in all three have been doing. I don't make sure that you don't care about impact to use this technology. Wanna uses technologies, it's cheaper, better, faster, that gives you the competitive edge. Doesnt work were all of you. The big companies from scratch?
tremendous potential lots of people and visions, but really Maybe people realise those versions. All your realising right now, you're already realizing matured scales, only gives all previous companies. I like each of you and I'll start where you take and, as you see the common tat, no, maybe I'm with you producing become about it, so they go back the bill. What do you think are the most important keys were entrepreneur is out there. We have people out there just starting businesses, new entrepreneurs, their running billion dollar companies that starting from scratch, It is the difference between the person that ambitions it and finally executed with such a small percentage and those that are key dream about it. There excited about it, they work at it, but they never get there. What's the difference, envisioning and realisation about vision. start with you guys I, like small questions, Yeah you honor did because nothing is rife. Goodbye owes you now, is what you have to be passionate about what you're doing for sure because does not enough, but it's a requirement because
No, the matter what you do you been effaced face hard times, and you have it. We know the exact path, maybe through the zag is, is channel. Jane, there's always gonna, be some value of death and between that you had to cross, and yet we passion to make us feel that set out to give him, but more than that, you have to build a complementary team. You have to get people who have other skills that you don't have an eye rise for non business. I was looking for people like me, people I liked hanging out with it. I need it, more people that weren't like me, I need to find people who knew her the drains on time. I've got big ideas, but he had to execute identify people. Do I keep the books and you look at them the role and get the red at all. So I The five other town and eighty five people glue between people who didn't work well together, I used to make people work. Well together. I don't own those talents myself, but I had to get those talents in the into the company. First so surrounding yourself with complementary skills is very, very important.
I would about the biggest thing: if you want to make a business, though Really, that has a world changing impact. You have to do something that other people are doing like you're here and not from Every idea Europe, your hearing from today we're all doing things that are a little bit. contrary to the other. People are doing things yes, and so you have to be contrary, but right What are you very easy to do something the same as everybody else and you could ok. But it's not it's your your help. Our competition, because everybody doing the same thing You can be contrary and wrong that very easy, but you need to be contrary right. So so I think that a very important part of begins. successful business. I always love looking looking for this and everything I'm working on it. what's my angle, what is the new The thing that I know that, For now, what other people know today believe yet, but will be true.
and I'm gonna go make it true. When I have something that all right, I've figured out. Before most people have figured it out and so on looking for that essence, in your business is very valuable and I think important to make something tactful. It's not easy, dutch, hi hi bar, like you, don't come across those every single day up but taken your idea and looking at an overt over from different angles and figuring out, what's my twist where everybody always going this way, how can I go? Do it this way where they are not going yet, but that still wrapped about doing it, just little different to just be given variables that doesn't count it's gotta be different and better for reason and understanding on reason, and then doubling down on that site, they got very valuable to make it as working. I trembled for their old time s beauty I think one of the biggest mistakes people make as the one you started with which, as they swam several people, think the same way, because its encouraging need all those different hats on your team or get the job done and also
point. I actually teach us to business owners, it's like if you do what everybody else does in your industry, and you did. It was significant that of everybody else, you get a micro improve on it might examine you, do something that no one else is doing it works or ass damage. That's coming, logger, geometric advantage of everybody else in you become the brand in that industry in Europe. You ve done that over and over and over again to many industries. When we come back or talking just with you by the way I wanted preparing, I want you share the story of Google and add works, because no clue that you're, the one really got that ball started, is an interesting stories. I'm an appalling that layers, privacy here and if I may bill Miguel emasculating pop over there cause you come from a different culture, initially in Russia and so forth. Tell us what you think is the difference between those people that dream about things, verses, those who actually realise that one of the components that the difference between those that dream in those that perform. Yet it is an excellent question,
We all see in our kitty here experience people with a bright smile. The digital combination, the glorious, but sometimes it is difficult for them to become entrepreneurs, entrepreneurship and give them only notion, I think, like other players, usually inside themselves, like several persons
you'll need to choose a brain. It will all the little bitch schizophrenics because provide help. We should be in other too in order to move forward, because there are ways of moving forward on making mistakes but other than sometimes sinking, because you're learn from mistakes, and you will have all the fearless you have said, but doing it can be stubborn insensitive. He excused person otherwise is like a constant fellows just they will destroy suppers person, but from another help you need to be sensitive and timber to people to new ideas to wake up. There was no what's happening around like market people and to be one person with is like it too.
sometimes really describe the budget. Video was its it's pretty rare among this is probably the reason why it's not so many publication. It can be other players for many. It certainly hardly technologically harp. It's it's a boyfriend firstly, the capacity to push through those values and learn from those failures, but also to get stuck with one approach, because I've seen a lot of entrepreneurs they get stuck one thing they believe it's the right thing and they don't stay open, a new ideas, it's my idea or the highway, and I know bill as are you not near had we both have seen so many companies where they brilliant ideas in it they just it wasn't enough just to persist. It was the capacity it has been reached as and be willing to fail and call failure, learning, which is what it has its daily. We learn anything right, but have you learned something you move forward, but Europe,
combination girl? I know you ve done a deal in museums, succeeded level you because you ve constantly made those corrections to get what you want to go to find these tools that can, when we change the way we traveled through space Jason about for yourself. You know you use, look at things in the medical perspective. You're lucky now, from an environmental perspective, the human perspective. What do you think that difference, because you ve seen so many businesses also with great ideas, great entrepreneurs, lots of persistence, lot of passion, and then they just never deliver what what's the difference from the one that delivers no matter. Why finds the way and those Adele I think, there's a couple of eggs and what what what fill and Mikhail shared and now, when I want to use the taken as an example, gonna continued pick on him. I do think that a company Vision is where it all starts, and if you look at across the portfolio for taken, for example, this is very clear picture. But the world can should and will look like anything for everyone
for nor are they hold this every great entrepreneur holds this vision of what the world can should and will look like. And then there is this, I think, and in great on Foreigners willingly willingness to say, but why? Why is what white? Why shouldn't be this way? Why isn't it this way as you can see, we can call the universe a great book start with. Why there's this first principles thinking but having great on can we try to understand why? Why is why can be white should be why why will be Then there is this, this matter of vulnerability menu. You Johnny talk about, not just not just that. Everybody needs a compelling future but also we talk about rapid, open and, I think, entrepreneurs, large who are really there to play? Are there to say I'm I'm I'm here to do this, not about me it's about this and its
it's about learning everyday in its about being wrong, and it's about supporting others are not being starved. The show and you have to be willing to do to a certain degree like. Be willing to lose yourself to become something better, not to lose yourself to become less, to becomes something something worse, but line is to say, like I think, I'm a great and I think I'm so incomplete yes m I'm sorry, I know I'm not the entrepreneur I need to be, but if I can do better today I can do better tomorrow, that comes from building a great team and it comes from looking at failure- is learning and that sort of vulnerability I think, is core to to being successful such as enlargement, probably be happy as a person. This will be a miracle willingness to be vulnerable. Amaze me like meaningful and makes people connect with you when you pretend to have all the answers and no one does you separate yourself from everybody and suffering a separation right? That's really what happened? What are they?
the point is so critical early in my life. I I began to think about. You know why was able to be able to tap somebody people's lives in items like I'm, no genius, I just We care I had so much drive and hunger and and one day I realized myself. At least, I believe life the ports whenever supports more life, meaning if The bumble bee business was to be above lie is going after what it wants and those flowers it's not a higher purpose, it's pursuing its desire, but not always, to its legs and now sure enough. You know pollinate grew more flowers can alike. whatever you want for your life, your desire day, siren latin means of the father without your desire has a higher hopeless and if your desires, just supporting you you're going to a certain level of insiders. You're part of life and life supports life, but it doesn't there is now a fairly now you get a different level been sighted. Your lot designers toppled community method
to tell the people. You know your desires, which bribing forces you gonna. Do you have your desire to help humanity which all of you have in common as I do, and it's not You position I watched. Are you aware that evening watch our people's lives move? I watch other people wearing but their money there time their energy their focus on all of you, a dedicated your lives there soon you're trying to help you manatee regattas. What anybody else thing you know it there are inside you get. The uterus won't get for any other reason, because you are supporting more, like a really believe. That's driven Jason you're. What you're doing right now with food is so critical. What you're saying now is how people are using their talents, their gifts to improve conditions for all of humanity. There leveraging passions to make the world a better place, but you don't have to transport people in outer space to be able to make an impact. You don't even need a degree see there are tools where you can hack your psychology that almost
every great entrepreneur notes they use these to make their dreams a reality and leave a legacy that benefits others for the first time. Tony is going to be sharing these tools for free. It's an event called a new world, knew you challenge taking place in January twenty first, it's an amazing that that will not only provide a concrete road map where you can see your goals complex as this year, but it'll waken your soul for the months to come, no matter what life through as at you this year, to join us free challenge. Go to W W w dot make twenty twenty one. My year, dot com, that's make twenty twenty one. My year, dotcom, we hope you'll join us vision. You are you: are you working with all these entrepreneurs? Not just these three working collapses?
created the only back seeing that is not using why virus or manipulating anymore- and I hope he doesn't have to be sure- that minors eighty degrees so like your car, stop defining these tools and these people, so you have to make these bats. What do you see? What have you done and what you see the most successful mariners. Do that succeed, Spite of all the challenges versus the ones that have great idea. Is that all I'll say? Firstly, actually don't think I was a particularly great entrepreneur. I was very focused on me when I was an entrepreneur and that that created a lot of limitations, and I could have had a much greater level of success. If I was The current orientation that I am, which is about sir so. I'm really a servant to these three people in this year's Kovacs and many other people and at its core there's only one thing that all companies that have succeeded having common they didn't give up. And that's like the start of ingredients, and so we look for people who run in the walls and what they hear.
May hear. No is all you haven't figured it out. I have to go figure it out. So that's the first and the second step is what they ve kind of pointed to just a really rare combination having that kind of- going to make this happen, no matter what but the kind of flexible? And what does this is because you learn things from customers. You learn things from investors. You learn things from partner, let me remind you need a tweet division. The core is the same. We are going to me energy, dramatically, cheaper we're going to make food supplies radically more cost effective. We are going to make space accessible to everyone over the long term. Vision isn't gonna change, but they ve all changed a lot about how they're doing whether it's an underlying peace, the technology or which hires they're making and are constantly reiterating in adjusting others without comes down to is zero ego right These people are some of the more successful people. I've ever had the opportunity to work with, and they come to me and talk about how much hearing this person to join my team and there
no sense of incredible. They are because- and I focused on themselves and and this is what we screen for which green for persistence. And then we see, Before we use your talk, toxic, your talk, your model of human needs and we look forward book were motivated by growing and given, if you're motivated by growing in giving Angela relentless. You will find a way to six. It may not even be in this particular company, but it might be in the next generation the company. I think two of the three: that is we backed with bill, are the third or fourth generation of that particular company, and that that the core of this, while a little details, persistence and be motivated by growing in giving I thought of something, I'm just thinking about entrepreneurship and listen to what everybody said: devil Lee. Some incredible things about entrepreneurship is not required for success, but this is what on twenty one in general, is you to a power, others what you get a chance to really a power, others you get to unlock human
general, but you get to go to others in your copy, give them inequity steak and get them do things they wouldn't have done, otherwise that? U turn them into odours like you think about. If you go to her younger store and depressed behind the counter being paid minimum wage or the persons the oder different level of service you get because a person owns. So you can. turn. All these people under company its owners, when I think like that and then little bit what you're saying about you're all morning being an entrepreneur is worth it opportunities for self Discovery and self learning like you are always reaching like. Maybe like living in a new obstacle anew anew, who barrier that you have to break and learn yourself like what you had to learn how to hire different people get to learn how to do that.
Stage and evolution come on you're. Always learning of you like learning entrepreneurship is incredible because it just gonna always be throwing your things. If you look at your, sometimes I'm not that you asked for, but always calls you learn, and that just makes it so exciting, some rewarding just because you want something every day No, I told you they disappear. My next question, scrawl of yours, curious. Then it's hard to do this because you built met multiple companies beyond fifty rights. Gal before Jason, all you ve done, but What would you say is one of the single most important lessons you learn in pursuing creating world transforming company, it's different, if you're just trying to compete replace what other people or you're just trying to do something. Someone else has already done a little better work. but the most important lessons you ve learned, it will continue to guide you that you learn best far and building or companies, and maybe start with you, because you done so many of them. Why? I think I think you touched on it already. You start
with a particular passion and vision, and it's not, going to turn out like you plant. Ah, you need, you keep that mission, the same otherwise you're giving up and making a different business it's gonna It's gonna be the way you u initially envisaged, and you have to have the flexibility adaptability to adjust to what the market is telling. You have precise great MIKE Tyson line about nobody has a plan, a jolly good punch in the face. I actually feel that that applies to business, your Customer punches you in the face when you go out with this idea and then all of a sudden the customer comes in and is like need a rebound from that look. Punch came from figure. How to not get hit by the punch next time and adjust if you give up after the vote. First punch it's over, but if you adapted Avenue stance, revenue, new new path. You can go
again that's exactly where you can go back to where you were trying to get, but it's It's not gonna be the way you expected, so it will give us an example view of a punch that you got from customers either by their not buying was now are you adapted and it begins as such, outside a company called knowledge. Venture we are making educational software for kids, I had a pair isn't that ninety nine he's right exactly Einstein Spielberg, was in Dexter and we had all this great up vision to help its ball, loved learning and it just wasn't working we were making you great gray product report, our heart into it, but What is worse by never enough rate, to keep up a company going so Hail Mary, save the company, move all sixty five boys went out into the retail stores on Christmas time. The Isles and demonstrated I'll drive, you just walk away the store we bribed your way and by giving a box of donor to the guy at the front door to say demo like we had an apparition,
there's a demo. The products we saw. The devil others- are demonstrating these. Were these proceedings, CD, roms and allay my right right is like a cop, USA and egghead software and fries and stuff. Like that add, what we saw in the eye what we can boost the sales are we show up or we could go to sixty five stores or two thousand stores. We could cover all them boys. The cells no stone wall. We mostly saw was people picking up A mother would pick up our product. Look at both sides of the box and put it down walk away where, like cash she's got kids, the perfect proper she. Why are they buying it? And we realized our messaging was bad. we were really conveying on the packaging. You could try this offer. There was no internet. Ninety ninety three No browser? Yeah, you do not know nor Netscape, even until ninety. Ninety five, We want real communicating. What was the benefit? even though we had a heart in that region, in the name of a product from knowledge venture to just
kindergarten give kids a boost on kindergarten instead of being for all kids and the pair wasn't sure if it was right for their now was good for five year olds, like just five years, If you have before you all, you need to buy this product, so narrow down the focus so much the focus on only one year, but the proper took off like crazy and we got punch the phased like us, we're saying I don't know dear. What you're trying to tell me- and we do not change our messages Bob em over the head and explain what we were and what we are trying to do and we took off like crazy. We saw twilight. These twenty leagues and didn't you so like first grade. Secondly, need after after having success with kindergarten. We made a whole series way that we made jumpstart elementary, where we had one great what characteristics and it was. Was fantastic, but it was basically customers, you're not explain to me what you're doing. How can you fix it we write arranged at the now. Do you
start you got well obvious. Why did you do that? But it was not obvious to us until we actually watch customers at the moment of not buying to figure it out. The type of that's the kind of reconnaissance that bottom there's gotta doing that his name back and in their had me. So often, entrepreneurs make the product baywatch yeah. The customer really wants and needs right diet. The customers had said. I it is a violent war game that we would have said. No, that's not our mission. We can't do that. So we kept our mission of others. Ideas which is making a fall of alerting. We just heard of explain how we are doing it differently. And you saw that company Bernard's proper yonder. We saw the company for ninety billion dollars of years later to Vendee so worked out very, very well, but the company word from almost going out of business to successful sale. just a few years, but only by listening to the customer beautiful The girl. Can you tell us what one the most important lessons you glad you got several companies all them. You worked in different countries doing this are very different hold your during this. What's almost
important lessons and you ve learned ass. An you're, the guy. You too, that, finally, the main reason why companies accede them the way company failed it, sir, it's a people into it. You get the item of lead muscle behind the company company, know markets like the people mean, I'm that you and them it's embarrassing by by moving from one country to another angle from from, from Russia. When I was thirty its failure when you re. Did you read you? Wake up. I set up as a personality, it's like you are moving to another country and the second life. It's not like you, so student or Heath, its idiot impetus, and to see how would you feel even that's like everybody, looks the same way. You probably if you close, you use your using the same people, no longer the same emphasis on the same footing for them
my my I think, like me, mean failures of the government of the Euro area was finally with due to an open and honest relationship, was communications and in many cases like us, political, social and cultural, kinder, witty meaning to some kind of politics in a little with Paypal, pursuers oriented on the basis of national snowed up, there was very wisdom, but when they move to yours, in the water? I think we know the main value that actually taking give me. It was all the money actually that he was my Mueller and he always To tell me how I look like that. How to change myself. I'm working on me. It's not easy amendments, four means differently or given my usual more of you know what it is. Easier- and you always reminds us of hate me like you just like
political. What do you think you long adversely, like etc? from sturdiest units will just uninstall it's difficult to actually really difficult, especially when you are in a company with me the executive, everybody is the only got a news about the reason you you dont want, sometimes to like it here. The first like a personally this people and of its heart, its failure. It was actually leggings people, everybody. The videos like that open communication that finally need to come, from view, as the leader of the company is extremely extremely important, the knowledge about the more important because one more company you can, you can put you- can keep in mind the recent, but when its be company the culture and the company has issued a grievous culture, then it's a recipe for free
so they might, I simply mean, listen still, I'm learning this listen, I'm still trying to be the great I'll, bring you a little bit company. I hold back and from sources, but look you three things than from year, one as I hear the right people in the rights it's right, because we all know what that's like that other people in the wrong seeds- and it's like you know you can have a situation where I've seen it as an investor and as an owner companies you get in Europe. A really great products and the wrong team in the home ass. It out you get a devil product in the right deem they'll James, the product or service; no final make wake, it succeed. So if that but then the capacity of travellers peoples, the vision that has talked about both by Bill and Jason and data? the ability to have that vision that can attract those quality people, something that's pragmatic and real,
but then, as you said, that requires you to keep growing, because you know, there's that rule one twenty five ensuring more right. That's why the army is organised. The way it is military when you get beyond twenty five people and its you not its Research shows that, although in twenty biogas, exact people will know each other's merchants different culture. Different communities owns a big company, as you say, creating culture. The full have to be to drive all decision making in the beginning. I never mind he did say. Well, you know what is tony, you think, and I had to train people do with what's right and once they knew the values and he was right in the culture ship now you know I went from fifty. our companies to know it over six billion across all these different industries in all these different employees, but there's a common culture and all those pieces, but the most important factor. I really want already form a careless and it shows your human voted because you put these huge companies your buddy doing dollar company moving forward mail is back upon, Indeed, never think you have all the answers now make sure you keep growing. My original teacher Jerome was just brilliant. This way, cuz, I never and him. I said
we're fathers. We never had enough money for food for the reasons I feed two hundred million people a year are undermining meals, you're in the? U S, creditors billion person, challenge that were but or of Senator Emily meals now in six years, but I'm now doing this challenge for the whole world view the Ex billion, but the whole drive was My father's works. We remember Feed and generals have some really interesting. He said Tonia fathers have not worked hard enough on yourself. They work to art in their job. They. I can do to improve himself remember when I was doing many master game. I ass Warren Buffett. What the single most important as may mean is life. Wasn't I have these ideas are my? How did you know? I knew all the different big investments made any said it's. What you do is what you're talking about. He goes best investment over me. Was it myself when I went to the authority because we invest yourself and you keep growing, there's no limit to the impact that housing putting investment companies nice, because but learning speaking communicate and expand in general terms. That means that your father's, I'm sure, all good men, but he asked
What they did one of my father is my map of father was going to work in an underground parking lot need before automation used to take people's ticket, count it up and make the money exchange all day long day and night for forty one years Any never out of money would have money for food enzymes. He's a tony! like grow people in them in as souls, but we're not be borne the marketplace and will you have to do, is make sure that you have a way to add more value, anybody else, which means you must work harder and yourself and growing anything else, and then you can be people and go you're you're living by that's. I really wonder you thank you for that Jason. You understand the question: what are you gonna like lessons on both the medical side, helping the most complex thing? Human brains are now working here in agriculture and feeding people What's the difference in your experience between those who dream and those who actually lived a dream and actually make it happen and enterprise is this it is one thing that that came up for me before I talk about the most valuable things in building an animal? as he knows, wanting that came up in what were you just shared tone?
in reflecting from the Kyle, this difference, between values. In virtues devalues or what you believe in virtues, are what you, what you manifested your behavior, I had been Horwitz, does a great job, with this in his last book. What you do is who you are and that that's it that's dead. That's a question I asked myself every day is like who, who am I buy by the action that Don't take him out. That's a little bit more about the working on yourself. You know what am I, what am I virtues is. Thus what are my values in terms of building an enterprise as as I heard bill sharing with his experience on jump start, you know my my So where are we now? Fifteen years late, more than fifteen years later, where Value of learning, I think has has has only been has only been underscored by all of the platform that that exist.
Internet to allow you to learn, and- and so you may think about that we are in at the US forward- contacts. It's like, while the vision, the areas you know so jumpstart a way away. to learn this immediately executed equal opportunity. And jumpstart kindergarten, but we, what we know is that everybody wants to learn. Everybody wants to be better that division. Fur for learning is infinitely scalable, and I think that's what what great that, wherever differentiates good company, should great companies. Good companies have a business plan. market opportunity customer base the execute on that there are good company profitable. Great companies have an infinitely scalable vision with very clearly executed market opportunities? You see bad company. Is that have an infinite market? Opportune.
Did, he know, execute a bitch. You see that in an affair, in other words right, like that's kind of that, that's it now the case study because we had a fantastic compelling vision but didn't have a clear next step did not appear one foot the other new also makes great companies. Great is you have, is infinitely compelling vision, but at the same time it is very clear and sober view on. What's the thing I need to do right now, what the opportunity I can be profitable and right now, that's great that's really spots. Saint in clear and and couldn't be more accurate. Thank you for that. Bacon you're. The final one wrapping up this question: what do you see is the different to see so many companies how many entrepreneurs so many visions that go unrealized or they begin only to end in short, the ones that continually add value and continue to find a way to expand and growing in value. What's the difference, first is com and download both Jason said about values and virtues and meet our said about culture. I think one of the proudest moments I've ever
actually had as a business owner, is when people Do you, like my assistant, has come to me and said Hale you're, doing something? That's not consistent with our culture and in your so on top of the culture and the values that new promoted, that they help. You realise when you're messing up and when you're not living up to the highest standard, and I think it is just a cool part of the entrepreneurial journey. If you can really deal it that way so that nobody to actual year. It might be because when someone to other they said they said it less directly that I just said and yet I think, on a technical level. One then I've seen a lotta entrepreneurs mess up. Is they don't know that differ between the things that need to be the breakthrough for the company versus the thing. That they should follow. You know your phrase successfully clues and we don't need to reinvent the wheel, yeah there's. A lot of How can a business that you don't need to reinvent the wheel you to go out and figure out? Who is doing
is really well that the place people get caught up is there they want a few important. They want to feel unique. They want to feel significant and so big. try and spend a bunch of energy redoing things that other people already figured out really well and if not energy that's going towards the one focused area that needs to be the breakthrough and needs to be the differentiated that's really concentrating aware: the breakthrough has not reinventing the wheel and waste in time and others and caught up in the emotion of having to make it so personal it making personal. What matters most really cool One more question: you're, never gonna, go deep into the people. Listening we're gonna go to each review. Go deeper. your companies or to make people gotta find fastening the let's start, one last on the universal outlined by the end of the day. Guess what business well, but with so much negativity in that in the press and the media. We know that there's nothing wrong. You you're good people, they work their tail off, they have. Good intent, but
a problem we have today is the economics of news here. The news is no longer about informing us. Its purpose is to startle us you know we're not in the information age and more information. Aids died a long time ago and others too much information were drowning in information. Gonna start, We bring wisdom and so what Yes, our ginger. What scouts us being a jolt sassin. So that's why it's your child may delay of drinking water filled with eleven. You not just images. We see the insanity and how bills more insanity, so in a world where there is so much egg to report daily basis meanness. All these ordinary things are happening worlds. I'm just wondering for each of you the things they give. You tremendous hope for the future when things start to get a bit. Stressful overwhelming looks like at the end of the world to some people. You guys don't go there, I don't either, but what is it they give you a hopeful optimist,
again since a certainty that the future will be even better than the babe. Tell us your point of view. I love to start with Uganda. Well, I think there is so many different ways to make the world a better place. If you're a teacher, you can teach thousands of kids in your life time and make a big difference there. If you're, a preacher, you can change people's lives by telling them to see something they don't see. If your lawyer, you can make laws to try and change things homage, acknowledges soil of that way of doing things, I can't do the other ones very well, but what makes me optimistic. Is I think technology really? can make the world a better place, and it is It can be pure began to use your our it can make people wealthy at the same time and you you can make it. That people poet from you, you don't have to push. you ought to tell people it isn't it I want to do like you. May
better Tesla car people do why, you have the bride people to buy that you didn't dogmatize it. Even People want it. So I just love the idea that it gives me hope, it's all those things. You said: and all the noise in the world is What a quite say build a matter better mousetrap and people will be the path, your door. That's not true. You deal used it Do you still have to stand out and you have to make all budget on things work, but because the world is so flat. Now, in terms of reach that you get that, people aren't hiding under oath. That can this. We are the dingy he's in Florence. his radius of reach was fifty miles. He was designing all these incredible things, but people knew about him for fifty miles away or maybe he would be totally wrong, but we have to take a carriage they offer for a month to get arose from Florence. We
that problem anymore. We have the whole globe is our reach, so You can use your butt in power and actually positively impact people with things that they want their body. I fight by feeling that did so. And you can bypass the press. What the press can't get in your way of you make so that everybody wants. It doesn't matter what they say. At least I believe that, or maybe on idealistic enough to want to believe that but I feel that way. so I just feel very optimistic that you can look at society's problems or movement like we ve been saying- is not wrong. What is wrong with the world, and how should it be legend the world and we want to live in a less primates. All of these relations to get there and that's very exciting to me. So I feel very optimistic about being alive at the same level. I take it that it is one of those times to be alive. Like you, you really have
What we have the great social living that we are talking about, the Faroe, getting on the blade like what thou think about, we're getting up way to go Beijing today, complaining about the wifi right of labour, about what we have we can see with our minds and our brains and at the end, the power that way today and the little things like a Blaine about, and yet there are two big things that we need to fix an little bit like you're talking about hunger like we have food and I hate I had that the terms of the user was. food insecurity, Gaza, bad euphemism, for people starting think about it. I know what myself pulling if I don't eat. noone, my brain starts going, Lord shut down load. I can't even think straight what, like think about PETE how bad it is that we have people on this planet who are going hungry. I guess we
Nicholas so we got us all that what you're doing is incredible and all the technology solution. We can come up with a better are so powerful. I think we can make a really big difference on very optimistic we took. As you know, I really believe that any problem humanity is greater human against all today even problems we haven't created. Like me, ass, the sun will eventually boil out this earth rights can explode, destroy it and we got people like you, I'm a girl and people of that nature. There are looking out and sang thinking yeah term, whatever is overwhelming, because you're only looking at the moment in your lives lost vision is like everybody knows there's two things that drivers spear or fate, enables made up the matter Nor is the verses aid imagination, imagination on future. No one knows what it is: beers, imagination, underactive insults like weeds, grocer rip, you two pieces, but you know This is what every entrepreneur employs and I think a lot of people are forgotten network theirs.
not a word it. The whole world is going to come to grips with for some reason. Here's an illusion, because we ve been growing so fast enough, someone's technology such good quality light. We're gonna risk area. to bring your knows that you only reward into their computer billiard produce, rewards beyond the rest by taking risks by putting yourself in a line of. If you don't look round some sort, the insecurity and you go to prison or they all labour, the real problem we weaken, saw your beauty models with your friend and partner, always says you know all find a giant problem and you got yourself. A billion dollar company doesn't even saw that you can make a rapid Irving back. What we all drives us an answer. Drivable success want somebody want to make money. There is nothing wrong with making money, don't get me wrong, but you have money, is only reflect you about it. Now you you're a billion dollars, lose you about billions of people, or at least a billion people, something significant, and all of you are driven by that
I called you Miguel. What might be if you open when things look a little crazy? What would your help? What did you a sense that the future even a short term view be greater than the past has been published. It's not fair question to me because it's very easy question to me, because I am the council is more indoor toilets, liken sporadic electricity. but it is a curious lamp. I I like. I spend my school system. Is in Soviet Union in the small acre A small town. Two thousand population saw, and they see how like up how life arouses changed like it. Let's look on Russia, which condemn all around way in the wake of by bad man let's put this week, but still, if you look at on on the people to whom the younger people, the technology, that we have full access to the internet,
and the knowledge and the books I'm gonna happen the old horse like it, is actually very difficult for dictatorships later become sustainable world, because people's educated mouth people more hours happening in other. Like a country's my my migrants, never been abroad, might might make of guilt, as do the more what's happening like in another country, but now people maybe for few really totalitarian country which can be created. The evil regimes like most career people. everyone all what's happening, and I think this actually give us a lot of hope society is moving to the right direction and ignored. You help me to some of the reform things of your boss. You Morgan in like in China, was rewarded with lady, whose technologies for concentration camps, but but seeing the general direction them is very. It is. It's really good and I think we will be
seeing the better society in the future that will be open to humanity wooden to unlocking, like you, already knew the power of each individual men be fair for people whose, like a week and came out like a nor capable, but at the same time, stimulating people to achieve like a new horizons, saw It is difficult to see what you just leave like other short life, maybe like in: U S like in a five than he had ever seen, change up and down, but when you see Like a great perspective, I basically supply systems the soviet system, and I can see this- is it's really differ? So I think we would use humanity right direction. Answer will find a way to build the better society, the open society, as you said, the technology has made people around the world know it's possible. The the Business over our deserve a union. When I was twenty three years old, I was invited Aristotle, so, union, I got to experience what was white bear. I travelled from Moscow to Siberia, to where you were and have to meet the people experience it, but
Turning into a capitalist, I wasn't even its language. Catalan was only knew was, everybody's was equally sounded, so good to me, Jackson, assertions and communism and there's the description of it and then there's the reality of the right answer. You start to see that there was an equal and aid inside our lets. People, Moscow standing around three blocks, so they could get half a loaf of bread and a little bit of milk all day long and we're training with all these other Soviet there having caviar and over this incredible. All we live with just you just doesn't work that way, but the fact we could see a better life was what brought down the walls were created, that drive and so forth, and obviously leaders like we're out of a job will willingly consider things in a new way but you're right. the world is flattened, and now you know tribesmen in ten year can now, with that little cell phone provide education from MIT harboured. He can do business around the world. Can transfer finances. I mean do anything you want. I member I work for President Clinton,
Remember there's a day. When are you not talking to you that we want to keep these conversations private agree as to why we consider using email, because I heard about that, as in the other this thing called AOL. You should get an email account in our worst human. Geishas by email, found out of the window and worked with Ngos. I join my life at the bottom. Is it you can search things I'm here I take my name in both for that day of washing prose came up and talk about working at the president site, That's how much the waters Jane person. Can you would also known as more technology, more access to research, more economic, more everything, then Press United States the couple decades ago, Uruguay, That certainly sugar result is the process of examining our course bill, the guy. They would all agree that technology isn't one sided. I love you. Animal technology could destroy as electricity can light up a city or even kill somebody, so it is still the way its use that goods
to overcome evil for the most part dropped human history, and I my optimism is that train, probably won't change, Jason what gives you up, and I intend to ask myself two questions. I asked myself: Who's driving and where we going out and in ITALY This is so much reason for fear right. That was your kind of opening and it's like, but but is now, I think about, I think about the future of energy. I think he's driving bills, driving from where we going and when I think about, I think about myself as an entrepreneur, I think every entrepreneur, has an element of right like we're we're my driving too. my destination? And I try to think about the things that are within my control? It's like that. You know: do Strength to accept the things I cannot change and right. It's like like what, where
where am I dropped? What's within my power and- and you know tat to get caught up, like is climate change, a real question and is it? Is it a real threat to human? absolutely but justice. Just to focus on the question we're not going anywhere. I write what we're doing as we were swear. Words were numbered of lumber traffic. swimming about how terrible it is a little too, in other words, a promise. I write like that that sort of what what I think about this is where we going who's driving, and then I ask myself driving in, where am I going and and if I'm not driving them, then I know that I'm looking at the question are looking the situation wrong? I look at can. I do right now to get to the destination, but I want to get too you to sit on what I found the most successful people regard as partners that we shall be there's three questions are always asking three decisions, and one is what I want to focus on right. What have you focus on what you're gonna feel you're not
if you think of the worst possible scenario, your experiencing an ounce, bilateral brazier cowardice the thousand. That's greatest personal thanks also to real brought me hamlet, whose what's wrong is always available, but you know so what's right, hearing you the question that disabled people see us when they ask what I want focus on you, but doesn't want. You can control that we can control authorities would you bogus, I thought was what I can't control logo. We can't control keep focusing on what you don't happens. No, what you do have a few points in the past. You get those three pounds. You know, you're gonna be pissed off, frustrated depressed. successful people bugs what became control they focus on what they do and how to use it. To add more value an example design the present and the future as both the past, you can't change beautiful Jason, big and ran off with you. What what gives you hope? I know you're more than hope, optimism excited about the present and future. When look poorly. What? What are you folks? I will give you up
First of all, say I'm absolute certainty that the future is going to be better than it is today, and we have tons of evidence of this and what it comes down. do for me is actually what prime Mover lab is about about science and service you're more abstractly. It's about matter and spirit, and if we look at both, these realms we're having tremendous progress. Civilization from a material level is defined by infrastructure of energy, transportation and communications. You look very time. There's been a step change in any of these things. The store revolution: the printing press, the average human beings- life has gone upwards in life, I can see, but more importantly, in quality of life during that life expectancy, and it's just without a doubt, lest anyone all the right technologies are being put in place right now. To make it so that the average human being can live on. Or food, more energy, more joy, more whatever it is that they want than in any other points
in history, when I haven't you do much, unlike we're gonna be in that place of radical abundance within the next three. you're forty years, just on the resources that were producing. But the second question is Is there the willingness to solve all of those problems is that we were just seeing as I do. You talk like steel. He talked about how we have to have the willingness without boils down to is the level of consciousness. The piece of spirit If we look at what is happening in the world, I mean you held an event with hundreds of thousands of people Boy, maybe even a million people earlier this year, the number of people, we are interested in raising their consciousness. The number of people there are pursuing meditation, spirituality is precedent it and these things are actually go hand in hand right in a world, at least in the west, where people are freed up of maybe of the daily drudgery of a particular job. There is more to invest in themselves, there's more time to go after what
life really about for me in the big picture, and I just think the media is not showing us an accurate picture of what is really happening in a person's day to day life? You know just just to say simply. I watch them. love actually with the family during Thanksgiving, and you look at everyone greeting each other in an airport. You look at everyone, welcome in each other home and there's just a level of love. That most book actually had in their daily life. That's not what the stories are in the news and you take that plus the power of technology we are going to have. Unbelievable wives, Toby UPS and downs, Werner, unbelievable wives, vehement making most of us can imagine The trick is, most of us already have unbelievable lives. You know it's one of the things I noticed. One would hope that the people that work adjusting years ago and saying you know the one per standard dominating the planet and I have a terrible life, that's, not the people, it was a Wall street. You know what I've been encampment actually grow over their job interview, people, and they are
all the brand new computers iphones cost more than the average person do. There's the planet couldn't live on less than one phone your drink a coffee, this their backs. It costs more than most people women per day, step one presented some of your action look at it, you live in the United States and you're. Power to your. I ain't anybody you Bobby, and why do I want to be so many peoples is one the groups doing things and how the United States, during the top ten percent of hers in the world, right but why do people are complaining about? One percent are the one percent they just don't realize it will be compared to so I think. Sometimes we know we don't make progress because we buy the stories have been told it was the been sold ass. They get his aggravated. I mean anyone is watching this reiner listings by gas. If you watch the social dilemma. Please do Amazon
I believe all you can pick up my book by wiping his native land. Here they got a rope. How do I get rid of your social media accounts at least using more intelligently and word like a lab rat or a group of people that are basically getting paid to keep us online? Do dopamine yet by reinforcing what we believe in pressing us. Also we stay on. By longer we gotta we held an incredible life. Now, an incredible lies in the future will get to wake up to it. Otherwise, you can address incredible, wiping away the misery and suffering this economic environment in history, even with the challenges are basing right now and yet, most people at the peak before covered before in these issues. During peak economic ties near the lowest levels of happiness, measured, forty years in this, don't you get what happens as people start expecting in its likeness the phone you people back like we're, not doing ass. God was satellite. Give it a moment you can. It was like
We turned our lives and always expectation which makes us measurable and snow, which it what makes our life rich. So we should now I've been going for a while. You know listeners have been with us an eye poppy gotten some great understanding what you're doing generally, but also the principles it may do. All you know bill companies that can literally shift the quality of life in the world and major plenty of money. Billions of dollars in some cases, be accompanied. Let's, let's go that man would suit each of you for a few minutes by name, just three board questions each this global, deeper level that do you bill if I may, If you would give us what is major start idea lab, but what was I can see him back as there weren't a bunch of you people. Albert Building incubators, whether reversed unworldly the longest running one. What It was in your mind, set about that. What may that such an important component and then, if you wouldn't mind juices one story- is gonna- have talked about this before personally
Google Adwords, which you know you played a huge role in, but story is really interesting: germs the ups and downs in just a few minutes by big ones: spire entrepreneurs, anybody even consider having a notch nor and also give them what you said earlier, which is what you start out his thinking, it isn't being one what's gonna be. So would you, gentlemen, about worse? I have started a company after college that was acquired by Lotus Development, and then I saw knowledge venture which we talked about. Those acquired by Vendee, but just before was acquired was ninety. Ninety five and Netscape had I appeal and the browser there were thirty billion browsers in the world. Thirty million think about how low number that is, when you think about it, now, has formally a people with connected phones and maybe maybe more for billions from the old number, but thirty million people who you could communicate with directly to your browser- and I thought that was the most amazing thing, because all my private companies, I gotta, go struggle to get it. new customer,
retail chain. All your advertising in the yellow pages or putting up flyers like my reach, was very small, so, unlike their nor dementia, we document earlier very small radius, others, I could talk to the whole world, thirty million people, so I thought Why are there so many things you can do? You to make a yellow pages online. What about buying cars online? What about there's one about? I thought why there's an opportunity reinvent many businesses I dont even know which one I should start first item. Let us start one of them. Almost all of them So, what about? What about a bite, being a serial entrepreneur, which I was? Maybe I can do the parallel entrepreneur and do them under one roof, and what I would do is put it. The ideas. We grew greatly. those run each one of them putting to sea capital help them grow and build the businesses, and I will try bunch of them. Some of them would fail, but I thought this may be would be a way to encourage more people to take risks in your fallen word, because what happens? The very well to start new company, so I
to try and have a safety net of risk so that you could take that chance. idea, but if it doesn't work out is not a bad would Bobby Scarlet Letter already by the way, the United States. We have way less of a scarlet letter on failure, then say in Europe or in other places the world where, if you fail somebody's people to want to back the second time I came view: failure as a badge of honor, not as a badge of failure edge of honor. If you learn from it, if you don't know, For that you know it its failure, but if you actually learn from it not even the aspiration to start at the lab, we would start ten companies under one roof. We tried for one year which even work out while those take up. If you then went on to be very successful, that allow me keep funding it and keep Goin now, twenty four years later, we are still running because the fundamental concept of putting things together learning from each of them
what they work, so many companies how many companies will be tackled. Successes item fifty companies incredible, but sixty dollars, cheese de Villiers I got as all my people not thereby went, I believe, will raise- should therefore be the greatest batteries industry right. It doesn't work that way in Silicon Valley, but you manage to do it. What do you think? Why have you cordial by the failures, Why do you think you re about so many of them succeed? Well, We ve got better overtime because we learn some of these lessons. Yes answered. lessons. I already talked about about it. Product does not have enough differentiation. You just competing with everybody else knows not. If you don't mind entrepreneurs with enough passion vision, so you can stick with it to its uptown matters a lot. Sometimes you just have the unfortunate like a time of recession comes it hits and wipes out five companies. I mean like two thousand eight a dozen. I was awful companies. Some of them were actually doing very well. They just can raise anymore. I feel so bad timing website companies probably the biggest. One, though, is timing in the other direction. Is
the world ready for your idea. Everyone realises back right before you start out and made me. We have even gonna, be a good idea in five years, but can you make it five years towards a good idea so that? But that means maybe taking your money and spending it more thoughtful in the last five more years to the world ready for you lot of times, entrepreneurs tee. they want their hurry the bill by Brian editorial instead on marketing way. But why is behind marketing of the rural? Getting the bible you're making yet you're gonna die bodies can be wasted or convincing people do not build you. Everybody higher person be marketing what they want to do. They wanted your marketing thought so we're having a balance between when the world is ready for what you're making and what you're, making his very, very critical. So a lot of the genesis idea, just described my own image of wanting to do so many things and one other which this is very important. For a company to focus focus is a big big deal. We can talk about an earlier.
You need to be laser, focused on what you're doing what you got picked a thing. You're doing, if you wanna be better, Then everybody else global If you want to win the Olympics, you better be focused on working out a trying and learning and getting better and better. There was that, through the business, do you gotta be focused, but I wasn't focused was unfocused. I had a lot of different ideas and I want to do all of them, and I learned that acknowledge venture got better and better the more focused? I was the more things I shared that we're all focus made knowledge about. You do better. So I realized the only way under succeed, as a human being, with my unfocused is to build individually focused companies which are a laser focusing their target, but I could be more like a bumblebee and jump around each other pollinate each one a little bit moran. Maybe dig it that's what you do now taken you. You have our ability to help many companies and a new toddy. You helped billions of people right you, your elbows,
so I thought ideal would be a constructive. Allow me to do what I want to do, but still have companies or individuals are successful, that that was. That was my story for that. The story of no Judar com. Slash overtures lash adwords is is allowed one I wish I was. I want you all listening to this cuz. This is such an instructive story about your ability to Navi Three things as well, as always, you talked about the timing, etc. So please, please do is its ninety. Ninety seven internet is still young. We ve got about Many companies are portfolio. They're all trying to get attention on the internet by adds eh well will charge you three million dollars by the gardening section and they tell you how much traffic you're gonna get. They will tell you how dangerous you gonna get. It will tell you Could you wanna get was ridiculous and I was telling see, owes you can't do that
you need to know the whole point about internet advertising as it should be accountable. You should know what you're gonna get and Yahoo is doing. The same thing you was charged, gonna, see pm basis, prosper thousand adds not on you the quality of their other view or anything like that, and he realizes pirated Google doing anything. I was driving force and people are doing. I need to know it yeah yeah so let us be part of the island. Those gave no such are the only way they were showing. The search results was based on the frequent c of the word on the page, so in other words, if you type the word cars. Looking for a good website on cars, the West that would show up higher was the one that had more occurrences in the word cars on it. So I figured out all they do is put the word cars costs caused by cars on the page to get high. Everybody was standing war to get more more spam, so I started thinking. How could we come up with a way to fix that problem? All of my companies want to buy cost effective click. Still they all want a pair. What drew basis, not honour not achieve the ambitious and not really
dollars for three years with no traffic and we have this idea after ten other ideas through all ninety, ninety, seven that none of them work. We had this idea what about if we charge on a click through basis on each key? word, what about? If we have an auction for every word, in the english language and in every language, so on the word. Cars websites could bid a click through price and the higher they bid higher. They would show up what that means you just pay money to get the people come to your website. Well, yeah, but if you pay money, you're, not gonna, buy the one key words, because you, to be valid on car, to pay for the workers, and I agree with that idea? And everybody argued against that's ridiculous. You can't charge people for surplus things. You can't be charged people search engine. I said well wait a minute yellow pages. Does that? That's how you get ads in the elevators, the bigger rats short, first, that the smaller as and when the listing
well, then, why do we just be very transparent about what you're doing and tell what? The cause brand, ties or is and display it. So we did that, that in February and ninety ninety eight will search engine can't go to Godaddy com. You gotta go, do not harm you type and cable, and all these things will be sorted by price descending and then the right or listings would be at the bottom. So we wish what would show everybody, it's just that you could higher, if you bid more forward happened was better reason, to rise to the top. They actually want, because you couldn't afford to pay fifty cents. A clay If you weren't relevant on a keyword if you're living promise on a key words business is loved it because they could not the sudden. transparency and what they were buying. So we Gaia Huge floated. Business revenues took off like easy and soon actual mergers loved it, because they were valid businesses. They were getting spam anymore company. You took off like crazy when public any year went to open
www dog valuation, unbelievable we're doing hundreds of millions of revenues and then Ninety nine Google came out and go came out as a search engine with another way to approve relevance that was brilliant. It was called paid rank after Larry Page, and it was based on link strength. Their Stanford thesis was about what about we use the number of links into a website as a measure of the relevance of that website, and that was genius at that. It was really good for non commercial terms, so good taking off like crazy for non. Commerce related searches and we we're taking off my crazy for commerce, released searches and I oh, my god. We got a partner with them and they came to Since we are border with you, you know how to make my We have no remedies. We gotta combined forces, We have numerous judges to combine with Google and all of our chances did come
the past is why you're both ways, what one time rector's turned it down because they said how do we acquire company with no revenues like that we're a public company? We gotta justify this to shareholders, images, unbelievable. Why? What a great merger would have been, but eventually did go ahead and use our method of bedded listings. freeze on our backs. Actually, we took them to court said you know your verging on defence and they say what will, by these out a settled about enough hundreds of millions of dollars which was turned out to be rather, because pants elements of the time, but wait you little compared to how valuable they were, but still was very valuable to us, yeah who ended up seeing how valuable we were and acquired or company so yeah because no company so that we have a way to compete against Google women. very, very proud to have played a place in the modernization of search, so Google indebted we, the best surge ever, but we
It may be the best modernization of search and major bulwana. Most successful companies make us through the world, starting with the idea that you put it together, Beargrass you and your team and remains what what? What did you learn from that lesson bell? Because there is somebody else than dial up, but you won't get. Really was. we thought we had something really really big and I we should have held out to grow a bigger and There are other of our investors, we're so happy to get a multi billion dollar exit that we sold YO, and I wish we had a plate state long in it, because I think we will we realized. It was your idea. She said guys. I think this is a good opportunity. If people have to be built, hopefully does actually tat was too little is bigger than rebellion origin, we need a high level. I could think of how they are a good idea. They thought I was once a, but I was, July, not you. I knew a trillion now that I'm game.
I don't remember you. Why do you want you want? I would say when we first started out with a, initial idea, people to put it people, That is a really really terrible idea to put money in it. Argento listings, so the What we really knew this is important. This is this is the way It should work. This is business. So the lesson I take away from that wish, which which I didn't know the time, but I say eyesight If you really believe something is true and people are proposing, it don't listen to them. What we didn't we stay with it like, if I have listened to people tell me, stop that we wanted, the bad review in the Wall Street Journal. Today we came out and we would have given up and we did when you see something that you know it is right sort of contrary online. I was talking about earlier, stick with it fight through to make be till now now look at you and everybody knows the in hindsight is obvious
but it would have happened if we didn't push to push it through, like we had in the sort of the three stages approval, First everybody ignores it. Then I really do what they actually are threatened by poverty happened is being self evident. I feel that if you push through and take an idea, there is ridiculed and make a self evident, you have actually changed the world like that is actually changing world. You made something happen that would have happened, otherwise So as an entrepreneur, when you feel that way, you know what your hard Europe you're fighting for, something that actually is important. Keep the you'll keep going, Is that that means Russia gonna, make a difference. but rather are still with us. I hope it will you got them as my goal in doing this was too maybe create a moment of excitement him. You were you thinking, the future in a different way. Will you don't just listen to the news which every day is droning on and on, and it has an agenda. Its agenda is not harsh, wanted system, an agenda that there's an economics to that news. Unfortunately, and so
good ideas, rarely interrupt you. They have to be pursued to look for them, so our goal hears put you in front of those tools that can give you a greater sense of. What's happened the world also, you can be a first mover yourself, a brass, make use of those things that are valuable for you. Secondly, we all need to become investors. You can use an apple phone, you can own part of apple, I'm a reason. So many people suffer financially is not because the opportunity isn't there has not been enough money. It's because their consumers there, not owners If there's anything, I hope this will get you to do is to think about the future in a new way to excite you to get you through the temporary ups and downs of the issues computer racism they're all real issues, but there's being humanity is greatly humanity, cats, all those who have already said, but also, if you wanna, participate in helping the people there are working on the cutting edge of increasing the quality of life for all people. You can begin owner with them and you can prosper as they prosper and helping million stanza millions, hundreds of millions of perhaps billions of people so hopeless,
Spain sparing view of your entrepreneurial hope. You listen to some of the great lessons that these Japan has given us by take a couple hours there time did you share from the heart? they ve learned our thank you. Bill grows close excessive haunt you from your word growing companies and nothing over a billion. These already got seven, no one's them ass. If you're listening and looks like he's, got his eight and nine may be gentle and on the way, the gale, what you're doing to open up space Jason for what you're doing to help us make Brooklyn farming environment, but any place be a farming environment with both, as you said, Molly, cheaper gas and better nutrients, but delicious and taken for your incredible pioneering efforts to pull together such great entrepreneurs. It's been a pleasure to spend time with. All of you again, I love you, speak to you for all your own. Thank you for joining us again for the total runs by gas till we see you soon with strong passion and Douglas The tenor of this package is directive by Tony Robins produced by the Chinese Evans team. Copyright,
Transcript generated on 2021-01-09.