Quit and join that risky tech startup? A guide to learning, earning & minimizing regret at startups
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- Опубліковано 11 чер 2024
- Should you quit or job? What skills do you want to acquire? How do you evaluate how much you'll actually earn? If you're great at what you do, it turns out that the only kind of risk is not taking risk at all. This is my quick guide on how to think through different opportunities that come your way. Learning early on is more important, but earning is absolutely something you need to focus on mid-career.
I’m Garry Tan, venture capitalist and founder at Initialized Capital. We were earliest investors in billion dollar startups like Coinbase and Instacart. I’m doing my own one man UA-cam channel with no staff or crew - I'm going for raw and unfiltered, not perfect.
Please like this video and subscribe to my channel if you want to see more videos like this!
"Commandos, Army and the Police" - great analogy!
Thank you Arun. I got it from Jeff Atwood I think.
Sooo good. One the team at every level can appreciate without feeling undermined and being authentic..."the first x employees are crazy"/"A players hire A players..." and other changing of the guard analogies that instill us vs them mentalities. Same team, same mission.
I like the metaphor, but military stuff associates with deaths and it's a bit tense
@@YuriRadavchuk I agree
This is the only real startup channel. Never heard these points before.
And the Ycombinator channel
'Regret Minimisation Framework' - This is great advice. Instantly puts you in a zen like state and makes making any life decisions crystal clear.
Helps me a ton honestly
This needs to be played at every high school and college graduation speech. 👩🎓👨🎓💯
Thanks for watching!
"Regret minimization..." -- awesome clarity for decision-making, combined with earn/learn approach.
Hey, your calm voice and mannerisms are so comforting to me. Thanks so much for all your advice and the insights you're passing on to us is absolutely priceless! Much appreciated
Risk minimization framework is a beautiful method to take that plunge to do what your 80 yearold self would be proud of. Thank you for sharing Garry!
The value I'm getting from binging your videos is insane. Regret minimization is major key :)
This video is packed with so much value. Your channel is super underrated. Keep the amazing content coming!
Thanks for this Garry, it really resonated with me. I am a commando turned solo founder and your analogy is spot on. When acquired as the 2nd employee in a previous startup, we built a better product for our parent, launched it - then the army came in and supported it. After a few years, they were looking for things to do with us, the police arrived and I left for a much needed walkabout. Understanding that I am a commando (even before your analogy) allowed me to leave in the last year of my vesting plan to try (and fail) at multiple ideas that were meaningful to me. Had I not done that, I wouldn't have the vision / plan I have now and would be back to work on someone else's dreams.
This is truly great information and I look forward to watching more videos from you. Cheers!
Gary Tan you are amazing. You dont realise or maybe you do, you're impacting so many lives in a positive way. I wish you success in all your endevours.
Joining a 6 person seed stage felt insane at the time but it was incredible experience and the next gig more than made the financials more than work out in the long run. IMO Everyone in tech who can afford the risk of going it at a startup, should do it at least once. Especially folks in their early career with less commitments, overhead, etc.
Agree absolutely. It is a privilege to be frank.
Thanks for the amazing content Garry! I can't stop watching them, I'm at a point in my life where I'm working as a product manager in a US tech company (remotely) and I'm considering enrolling in an MBA program next year, but I'm still undecided, these videos are giving me great insights to take a better decision. Again thank you so much!
You're not just talking about taking risks but also inspiring to go-ahead and striving us to make this world better. Greatest thing this year is I discovered you🔥
Love the sophisticated, legitimized source of information on this channel. Really excited to come across your channel!
Alot of great insights and words of wisdom Garry(As always), Having taken so many risks in my 20s and having a lot of those experiences have been great lessons and now being 30 and successfully making the transition into tech working as a junior dev for a health tech scale up. really looking forward to taking as much as I can with the learning and of course the earning component.
Congrats on a big transition!
I actually do this without giving it a name(regret minimizing).This is awesome and doubles down on my thoughts.Thank you Garry.🔥🔥🔥🔥
Glad to hear. Thanks for watching!
Gary Please keep pumping out content you are such a huge motivation! I am studying UX design and general design because of you.
The analogy was too good - Commandos,Army and Police
Just found your channel, I like it, I can realize that you really feel what you say
Hey Gary,
I've been watching all of your videos, Every video is packed with great knowledge.
Thanks for sharing 🙂
Thanks for watching!
This is absolutely superb. The “Star Trek” clip is perfect.
Really interesting and reflecting to use the regret minimization framework, let’s risk ourselves and subject us to impact the world una positive way using technology, influence and reach
wow, your channel is a breath of fresh air! I didn't think it would be this good! Thanks for your content. It's extremely helpful.
Wow, thank you!
Hey Garry, I'm 18 and I've been in a decision dilemma for a few months now on that whole question of joining a large startup as a Product Manager vs working on my own thing while studying CS on a scholarship - this video was super insightful in helping make a decision. :)
I've also been watching your content for a while and I just wanted to say thank you, your videos have so much value that you can't find anywhere else! Keep posting awesome stuff man!
Thanks Hannah! best wishes
18 and have an offer to be PM at a big startup? Wow
Such an awesome video with powerful message ! Garry is great at communicating thoughts in a clear, concise and impactful way.
Thanks for putting this video out Garry! Got an important decision to make, your video really helped :)
Almost embarrassed I never got on to Garry's pearls of wisdom earlier! Saving this one!
Hi Garry, thank you for making this video as it came at an apt time for me. Was wondering if I should commit to continue working for this high potential startup I am at, or leave it to tread the secure path at a big bank/consulting. Your exposition on the importance of Learning definitely helped me choose the startup life!
Not sure if its the recommendation algorithm, but u seem to address the doubts that arise in my head. Imma make a mission that i get to a stage, where i get to say... Garry told me so. Thanks man.
Hey Garry, Many thanks for bringing so much knowledge and wisdom here. This helped me a lot to decide things to prioritise in life.
Wow. Just wow!!! I am blown away by the content and production quality of your videos. Please keep them coming :)
Thank you Liam! I did it all in one afternoon, maybe 3 hours of work.
@@GarryTan Incredible! Would you have 1-2 tips for videography beginners?
mah lawrd.. man cleared all my doubts thanks you got a new sub
Such a powerful vid Garry and keep them coming! Love the setup and edits btw
Appreciate the note Mike!
Amazing advice Garry. Thank you so much
My turning point was when I was told by a successful businessman: so you’re telling me, risk analysis has made more money from you than you from it?!
No looking back after that.
Thank you very much Garry for such a real life advice and suggestions. For learners like me you are a hero. Keep it real always. Thanks
I always found it difficult to choose, because I didn't know what are the options...
Now that I think about to choose between learning and earning, I'll go with LEARNING.
Thanks Garry
Man, this is another gem! Thanks a lot for sharing!
Thanks for watching!
I like this video a lot! Especially playing the TNG clip and Bezos clip and commentary before and after by you, Garry!
Thank you San!
I found your video on my LinkedIn feed. Thank you, this advice is super helpful in my current situation to figure out my next step in my career. Subscribed!
Thanks for watching!
This really speaks to me, totally what I'm going through right now... great advice I will be working into how I take more risks in my career.
Thank you Ian! Glad it was helpful.
This was a great breakdown. Thanks for putting these videos out there!
I never thought I would be so inspired by a clip from Star Trek TNG
TNG is the most inspiring
I can already see you reaching +500k subs. Awesome content.
Hope so! Thanks for watching!
I love the star trek TNG analogy !!!
Thank you so much! It is very inspirational.
Holy smokes! I just found it exactly when I needed ! Thank you Garry. Quick tip - start a community forum already to gather all the brilliant minds that are going to follow you. If you need some help just dm me.
Good idea. I think I will need to work on something like this.
Thanks Garry! This was super helpful
What a video! Well done sir.
Thanks Bro..like it so much
Thanks Garry for your valuable insights!
Thanks!
Very true
. Im finding this to be consistent
your a total champ for making this
Truly resonating.
Thank you for this great content Garry!
Thanks for watching Thiago!
Great Garry !!! I see that you see that I see your videos..!!!! Like it, great content...words of wisdom from not so old. .
Glad you like them!
Thanks for the awesome content. Your clarity of thought makes me connect instantly.
Awesome, thank you!
Great channel! So valuable.
Thank you!
Great video my man.
Good points.
Love the video and the sound effect got me hypnotized!!
Glad you enjoyed!
Love the content!
One thing that helps me making hard decisions is: Is this reversible in any way?
For example: In one instance I was very much in the fence between leaving my corporate, amazingly well paying job to focus on my startup that was already seeded but still not over product market fit. It felt like it was impossible to keep both on that stage, if I wanted to continue on the startup, I needed to quit the job. If I wanted to continue at the job I needed to quit the startup as my performance was starting to degrade too much.
I didn't know which I would regret more, but I knew one thing: It's far easier to get another corporate job than it's to build a v1, get seed investment and the first 15 paying clients and 5 employees.
Getting a corporate job is just a few interviews across a few weeks or months, specially if you are good and have good experience.
Bringing a startup from 0 to that stage, took years of investing time, effort and personal money. So it would be far easier for me to get back to corporate than it would be to create another company from scratch.
Maybe this insight helps someone that is also struggling and don't find the regret minimization framework enough.
Thank you for posting sir
These videos are amazing! Thanks for sharing your experiences
More to come!
Relay great video thanks for sharing you ideas in here
Thanks for the great advice to early-stage and frankly all entrepreneurs and intrapreneurs
love these videos! keep them coming.
Thanks for watching Usama
God bless you. Thanks for the value and great explanation
Glad it was helpful!
Great channel!
Great video
I'm in the process of leaving my 9-5 to finally go full time on the business I've been working/researching for years now.
This was a sign I am making the right decision haha.
Coming from a failed startup, this hits different. Risk is real, friends
Once you have the lightning in the bottle, it takes a team to hold on to it.🔥
Good advice
I really wish I had seen this a year ago when I was stuck making a career transition
Thanks for sharing! New subscriber and excited to watch your other videos :)
Thanks for subbing!
Good content, thank you
You are an absolute legend, Garry!
Your videos motivated me to pivot in to software engineering from aerospace engineering, currently doing masters in AI.
P.S. My first UA-cam comment ever.
Thanks for making this Gary. I’m in a job transition and got a really good offer with a pre-IPO Silicon Valley company. I would be leaving a really established big company that is the “safe” path job wise. I like the two videos you shared… Picard living a life where he didn’t take risks and Bezos discussing Regret Minimization Framework.
I recently used the regret minimization framework and have decided to join a startup. It's risky, but I don't want to regret the missed opportunity.
How did it go?
Super insightful video Gary 🙏🏼 how would you weigh each of the factors: interesting problems, learning and earning components into the decision (as in would you recommend overindexing on one over the other?). Also, for the equity calculations you showed, how would dilution impact the numbers/what’s a standard dilution % for future funding rounds when you’re say a series D/E startup which is already valued at $5B?
Gary, thanks alot for making me realise I had been getting too secure under the comfort zone of job at MNC. Looking back at my life, realised that's not what I want to be. The commando inside me had been continuously demoting to reach the level of Police. Time to wake up, gear up and put commando to some action
Great advice
wow, really inspiring videos. Fuse is lit. Please keep posting
More to come!
Pretty much what I did. It’s risky but can be rewarding
Those last few words are priceless
I work at Apple and built many companies and starting an rfid company as a sole founder I can’t wait to get enough traction to stop being the Apple police LOL 🤣
Great video Garry!
Thanks Mislav!
@garry Tan, can you please do a video on how much equity should first employee ask for, like really first employee before any major funding. Thanks
You're amazing
We are masters of the Universe, act accordingly.
statistics says that this 12 dislikes at 2.1k likes and 29 k views are 100% missclicks , thanks Garry for everything
Taking calculated risks has always been the name of the game for me. Bezos' regret minimization framework was something I used to decide to go all-in coming out of college.
Something I'm being mindful of now though more than ever is when I'm being too risk-adverse. In my earlier years in startups, I had little to lose; now there is a level of "comfort" I'm used to that I sometimes find myself having dissonance with. My relationship with ambition has changed in recent years, and I'm grappling with what that means for me in the years ahead.
Wow that Picard reference is so on point. Great to see you're another Star Trek fan :)
Thank you for this! Would you make a podcast? Even if you just released this audio with no extra production on top of it, I think would be a great podcast! And it would make it easier for me to access
Thanks. Thinking about doing this
@@GarryTan found out about you today, i have subscribed, and notification alerts on all your future videos. Now is your time to start a podcast!Dont even think twice about it! I've been listening to you for hours now and because of you, i finally bought " how to win friends and influence people". you don't click bait, you have a humble yet knowledgeable tone about you, and most of all, you have PROOF OF WORK. it . you are like an upcoming Garry Vee. Not even kidding.You grab attention without and BS! People are tired of content that drags on and gives breadcrumbs just for views and likes. Keep up the good work, you have a new die hard follower here !
Great video, just subscribed.
Thanks for the sub!
Hey Garry, just found your channel and loving your stuff.
Question for you: I love your avatar you use for your youtube/linked in/etc. Did you have it made by a designer? I would like to do something similar!
same here
Check out blush.design