Teaming up with Tegus!
I used to do business research with a billion chrome tabs.
Now, I start with Tegus.
They have a 30,000 expert interview database with former execs and employees from all the epic companies.
Who is this a no brainer for?
An investor and corp dev team looking for an edge... You can grab a free trial here.
I remember exactly what I was doing at 22. I was incinerating 80 hours a week (mostly) formatting powerpoint slides and excel charts at Goldman.
Stressful? Of course but I learned a bunch to.
I got to watch big decisions. But I had 0 responsibility to make them.
My 50 year old boss with 100s of deals under his belt made the decisions.
But at 22, Mark Zuckerberg has a predicament.
It's June 2006 and Yahoo puts a $1 billion offer on the table.
Here's an excerpt from long time Facebook (and Amazon) exec Dan Rose on it:
So when you're 22...
99.9% of us are focused on finishing up college.
Your biggest concern lies with the cute girl (or guy) that won't text you back.
But at 22, Zuck is staring at a $300 million deposit into his bank account after 2 years of work.
Of course, he's going to take it... right?
But Zuck rolls up to the board meeting...
Let's dig into how Zuck made this decision so easily...
1) Bet on a Unique Insight
Zuck didn't sell facebook because he knew something no one else did.
In June 2006, Yahoo drops the billion dollar offer on Zuck's desk.
In September 2006, Facebook launches the feature that forever changes social media.
The news feed.
If Yahoo thought Facebook was worth $1 billion without a clue of all the crazy new product ideas buried in Zuck's brain...
Then what was Facebook actually worth?!
A hell of a lot more. And you can't undervalue a unique insight.
2) A Fighter's Mentality
Every great founder operates in a steel cage match... and develops a fighter's mentality.
Elon fought off bankruptcy with a funding round that closed on Christmas Eve 2008 when Tesla had 3 days left to live.
At 22, Zuck wages war with his board over the Yahoo offer. And he wins.
And here's the beauty of the fighter's mentality:
This ties into one of my favorite concepts from Paul Graham:
Fierce nerds are highly competitive, intensely ambitious, intelligent nerds who ruthlessly attack their objectives.
Zuck is the fiercest of fierce nerds.
Within a few years of the Yahoo offer, Zuckerberg replaces his entire exec team and re-organizes the board.
And one year after rejecting the Yahoo offer, Facebook raises a Series C from Microsoft at a $15 billion valuation. Not to shabby.
See ya next week,
p.s. if you loved this, forward it to a friend. if you hated this, forward it to an enemy. And if you're new, hit the big blue button below...
p.p.s. check out the full "Fierce Nerds" essay from Paul Graham here. It's one of my favorites