Dia01 02 keynote_Joshua_Slayton_angellist_The Angelist Way

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Apresentação Joshua Slayton no CASE2014

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Dia01 02 keynote_Joshua_Slayton_angellist_The Angelist Way

  1. 1. The AngelList Way Joshua Slayton https://angel.co/joshuaxls @angellist, @joshuaxls
  2. 2. AngelList is a platform for startups. We help startups fundraise, recruit, network and more.
  3. 3. Since 2010 $500M invested offline (estimate) $83M invested online (launched 2013) 600K applications to incubators 290K intros between talent and startups 127K registered startups 11M API requests a day
  4. 4. 22 people Just 22 people run all of AngelList
  5. 5. A bit about our culture, and how we run such a small team with such a big impact.
  6. 6. Do It in Code
  7. 7. –Marc Andreessen, VC “Software is eating the world.”
  8. 8. AngelList is the operating system of the startup world.
  9. 9. Team AngelList FT coder, PT coder, has coded, doesn’t code
  10. 10. Fundraising $2.5M invested online per week
  11. 11. Recruiting 75 hires per week
  12. 12. Engineering 100M requests per week
  13. 13. Do It in Code Team doesn’t grow exponentially Leverage per person grows exponentially Codebase as complex as an operating system Works while product-oriented Sales orientation changes dynamics
  14. 14. Sweat the Plumbing
  15. 15. AngelList is a single platform supporting multiple applications.
  16. 16. What is AngelList? Trust Community Platform Scale Syndicates, Talent, Incubators { {Venture Hacks AngelList
  17. 17. AngelList’s Plumbing User Profiles Company Profiles Private Messaging Search Funding Data Press Data Tag Taxonomies “Signal” Rankings References Q&A Updates Follow Graph Connection Graph Intros
  18. 18. Sweat the Plumbing Start with community and customers Build a platform to serve their needs Build plumbing early, while you’re young Exponentially harder to build plumbing later on Good plumbing means massive leverage
  19. 19. Hire Lazy People
  20. 20. –Someone “Necessity is the mother of invention.”
  21. 21. –Me “Necessity is the mother of invention.” Laziness
  22. 22. Case Study: Talent Algorithmically moderated Algorithmically ranked No sales No marketing 3.3K intros per week 75 hires per week
  23. 23. Case Study: Talent The coder who built Talent basically put himself out of a job. In a good way. 0people run it
  24. 24. As coders, our job is to destroy work. Not to create it. Our work is a creative endeavor. It’s not something we do to stay busy.
  25. 25. Hire Lazy People The ideal product runs itself The ideal product sells itself Don’t do the same thing every day Innovate yourself out of a job
  26. 26. Wear Many Hats
  27. 27. –Babak Nivi, AngelList cofounder* “Specialization is for insects.” *actually, a Robert Heinlein quote
  28. 28. Responsibilities System operations Customer service Recruiting Product development Social media Marketing
  29. 29. Responsibilities Inbound deal processing Customer service Deal closing operations Investor marketing Product development
  30. 30. Responsibilities Product design Front-end development Operations Management Team building
  31. 31. With great power comes great responsibility. People who are not self-aware or have no humility must be let go. People who do not want to take on so much responsibility must also be let go.
  32. 32. Wear Many Hats Top talent loves the “founder”-like responsibility Let people choose their own path Let them fail, at least once Don’t get “too many cooks in the kitchen” Enforce self-awareness and humility
  33. 33. Admit Defeat
  34. 34. “Smooth seas do not make skillful sailors”
  35. 35. Docs Attempt to replace lawyers. Too complex. Boondoggle project. Market didn’t want it. Lawyers didn’t want it. Talent monetization Not well thought out. Damaged our brand. Internal issues establishing a strategy. Axed after much consternation. AngelList Defeats
  36. 36. Admit Defeat AngelList is a high-stress environment You’re completely responsible for your decisions Move fast, be bold, expect failure Failure is okay, repeated failure is not Resiliency is the sign of a great team
  37. 37. Big Perks
  38. 38. Salaries and Equity AngelList pays above the market rate for talent, in both salary and equity. We care about how productive each member is, not how many members we have. $150K salary 0.2% equity grant
  39. 39. Perks Standard office space, health insurance, retirement plans Valley standard catered meals, commute reimbursement, in-office massage Not so standard quarterly nearby offsites, annual overseas offsite, lax scheduling requirements, remote okay
  40. 40. Playa del Carmen
 2013 Cabo San Lucas 2012 Puerto Vallarta 2013
  41. 41. Big Perks Above-market salaries and equity grants All the standard perks and then some Regular offsites build camaraderie and memories Best perk is working with top quality people And having an awesome mission Top talent wants culture more than anything
  42. 42. The most difficult work of a company is establishing a culture, and building a team. AngelList’s greatest accomplishment is that we’ve herded so many intelligent people, and big egos, into one unit. A great team is defined by how it overcomes adversity, not how it celebrates success.
  43. 43. Thank You! Joshua Slayton https://angel.co/joshuaxls @angellist, @joshuaxls

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