TLDR;
This video provides advice on hiring the right people for a startup, emphasizing passion over pedigree, competence over ego, and enthusiasm over indifference. It challenges conventional VC wisdom and offers practical tests for evaluating potential hires.
- Hire people who are passionate about the product or service, even if their background is unconventional.
- Hire individuals who are more skilled than yourself in their respective areas.
- Use the "Stanford Shopping Center Test" to gauge your genuine enthusiasm for a candidate.
Hire Infected People [0:17]
The most important thing when building a founding team is to prioritize people who are genuinely passionate about the product or service. This passion is more valuable than impressive degrees or extensive work experience. Traditional venture capitalists often look for proven teams with proven technology and traction, but for early-stage startups, it's better to focus on unproven teams with unproven technologies. A candidate with an impressive resume, like a former senior vice president at Microsoft, might not be the best fit for a startup environment with limited resources and brand awareness. The speaker's own experience of succeeding at Apple despite a non-traditional background proves that passion and love for the product are key to success.
Hire Better Than Yourself [4:26]
Founders, especially those with technical backgrounds, often struggle with hiring people who are better than themselves. It's crucial to hire "A players" who, by definition, will attract other talented individuals. In contrast, "B players" tend to hire "C players," leading to a decline in overall talent and eventually a "bozo explosion" followed by layoffs. To avoid this, founders must overcome their ego and prioritize competence when building their team.
Apply the Stanford Shopping Center Test [5:07]
The "Stanford Shopping Center Test" is a method for evaluating a candidate's fit within the company culture. If you see a candidate who is interviewing at your company, your immediate reaction should be to rush over and enthusiastically greet them. If you don't feel that compulsion, it's likely that the candidate is not the right fit. Startups are like families, and you should feel a genuine connection and enthusiasm towards potential team members.