This week on Upstream, we’re dropping the first episode of Logan Bartlett, Keith Rabois, Kevin Ryan, and Zach Weinberg's newest podcast @ThisWontLastpodcast The show is an unfiltered backchannel where they unpack the hype cycles in venture, startup culture, and business.
In this episode they discuss Paul Graham’s essay "Founder Mode", AI valuations, the state of the venture market, and free speech concerns with Telegram and TikTok.
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RECOMMENDED PODCAST:
🎙️@ThisWontLastpodcast
Eavesdrop on Keith Rabois, Kevin Ryan, Logan Bartlett, and Zach Weinberg's monthly backchannel. They unpack their hottest takes on the future of tech, business, venture, investing, and politics.
Apple Podcasts: https://podcasts.apple.com/us/podcast/id1765665937
Spotify: https://open.spotify.com/show/2HwSNeVLL1MXy0RjFPyOSz
YouTube: https://www.youtube.com/@ThisWontLastpodcast
🎙️History 102 with WhatifAltHist
Every week, creator of WhatifAltHist Rudyard Lynch and Erik Torenberg cover a major topic in history in depth -- in under an hour. This season will cover classical Greece, early America, the Vikings, medieval Islam, ancient China, the fall of the Roman Empire, and more.
Subscribe on Spotify: https://open.spotify.com/show/36Kqo3BMMUBGTDo1IEYihm
Apple: https://podcasts.apple.com/us/podcast/history-102-with-whatifalthists-rudyard-lynch-and/id1730633913
YouTube: https://www.youtube.com/@History102-qg5oj
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LINKS:
Keith's Recommendations:
High Output Management by Andy Grove: https://www.amazon.com/High-Output-Management-Andrew-Grove/dp/0679762884/
Keith Rabois' lecture notes from 2013: "How to Operate": https://www.youtube.com/watch?v=6fQHLK1aIBs
Tesla versus Edison: The Last Days of Night: A Novel by Graham Moore: https://www.amazon.com/Last-Days-Night-Novel/dp/0812988922
Disruptive Innovation by Clayton M. Christensen: https://hbr.org/2015/12/what-is-disruptive-innovation
The Success Equation: Untangling Skill and Luck in Business, Sports, and Investing by Michael J. Mauboussin: https://www.amazon.com/Success-Equation-Untangling-Business-Investing/dp/1422184234
Kevin's Recommendation:
Dark Wire by Joseph Cox: https://www.amazon.com/Dark-Wire-Incredible-Largest-Operation/dp/1541702697
Logan's Recommendations:
On railroads: Engines That Move Markets by Alistair Nairn: https://www.amazon.com/Engines-That-Markets-Alisdair-Nairn/dp/0857195999/
Wired: "The Kremlin has entered your chat": https://www.wired.com/story/the-kremlin-has-entered-the-chat/
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FOLLOW ON X:
@thiswontlast
@rabois
@loganbartlett
@kevinryan
@zachweinberg
@redpoint
@turpentinemedia
Check out the Logan Bartlett Show: https://www.youtube.com/channel/UCugS0jD5IAdoqzjaNYzns7w
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TIMESTAMPS
(00:00) Intro
(02:20) Show origins
(03:34) Kevin comes back from Burning Man
(05:17) Paul Graham's Founder Mode, founder mode intuitive Keith, Pierre Lamond anecdote
(07:57) Keith's response to kernel of Founder Mode, Andy Grove High Output Management
(09:26) Zach asks what's unique about Founder Mode and Keith clarifies
(10:10) Manager vs. Founder
(13:55) Founder moral authority
(15:57) Investing in founder driven CEOs
(19:42) OCI | WorkOS Ads
(21:57) State of venture markets
(24:26) Driverless car future
(30:39) Revenue quality in Al valuations
(34:55) Squad Ad
(37:18) New technology being disruptive or helpful for incumbents
(40:01) Al in Biotech
(43:03) Al impacting fund AUM
(46:48) Al as the transistor
(47:39) Hurdle to return Al CapEx
(48:49) Unrealized Capital Gains Tax
(51:45) Sweden's tax vs Norway and corporation tax rates
(59:13) Medicare and Social Security, beneficial tax policies and misleading life expectancy stats
(1:05:33) Lina Khan, Antitrust effect on tech industry
(1:14:26) Perplexity shocking Google
(1:16:48) Pavel Durov and Russia's Influence in Telegram
(1:21:04) Not using TikTok & Telegram, risk in capital in Chinese companies
(1:26:44) Closing