Original article via The Harbinger (link):
Tim interviews Jacky Wang, COO of SHAREit, a platform that provides global users with high-quality digital content simply and quickly. Its basic file transferring function is over 200x faster than Bluetooth and enables sharing of files, photos, videos and music of any format. SHAREit has served emerging markets since 2015 and now has 1.8 billion installs and 600 million MAUs. Jacky previously worked at Google, Zynga, and Pinterest, before moving back to China to lead SHAREit. …
Having hired for non-technical employees at an early-stage startup, I bucket candidates into two pools:
Right off the bat, if you’re shotgunning your resume to various job listings, you’re going to get weeded out, fast. Desperation translates to “I don’t know what I want,” or “it’s going to be hard to keep me motivated and I might leave in 6 months.” No bueno.
A Guide for Team Managers
Having spent the past couple of months working on team building, hiring and firing, I now adamantly believe 80% of a team’s ability to drive forward relies on hiring well up front. So goes the mantra:
“Hire slow and fire fast.”
The biggest problem with hiring for entry-level positions at an early-stage startup (size 15–40) is the interviewing process is unstructured. Team managers know they want to hire smart, hungry, and ambitious employees but without a structured process, managers end up hiring sloppy — e.g. hiring someone out of convenience, not fully vetting for culture fit, etc. …
Potential 10x yield on unicorn investing?
So many people and VCs talk about hunting for the next unicorn. But what about the unicorn of unicorns? Uber was once valued in the low billions, and is now worth ~$68bn. Here’s my take on which unicorn could achieve another 10x growth in the next 4–5 years.
SoFi is tackling $2.7T+ lending markets through social platform mechanics:
To cover the high cost of tuition in the US, many students take out loans — in fact, the US student loan market is ~$1.2 trillion as of 3Q2015. But the system is inherently broken — under FDIC insurance regulation, banks lose pricing flexibility on student loans whereas they can calibrate risk for mortgages and auto-loans. A market with varying default rates would adjust for quality of education, e.g. Harvard/Stanford vs. for-profit colleges, but today, high-performing students subsidize loans to below-average school students, which have higher default rates. The delinquency rate in 2015 for federal student loans was ~12% vs. …
How Eaze is different from other on-demand players
Here’s why I think Eaze potentially could achieve $250mm revenues in the next 4–5 years. If then valued similar to a SaaS company, it could achieve ~4x sales (public equity multiples) or the coveted $1bn valuation.
Obtaining a state-issued cannabis card and access to clinics have historically been difficult due to high prices, long wait times, and far distances. These factors drive spending habits of typical medical marijuana patients, who are oftentimes frequent users. These users sometimes drive an hour to their nearest dispensaries in some states due to zoning laws, face possession limits and suffer high prices. …
I recently came across Sarah Tavel’s post on “Taking the Wrong Lessons from Uber” and Dustin Rosen’s addendum. Being an ex-finance and startup operations guy, I wanted to shed a bit more depth to the subject, but from the business side. I work at OrderAhead (YC’11)*, an on-demand delivery service and I believe the delivery game will be won in unit economics.
It has been a gold-rush the past couple of years for startups to copy the “Uber” business model. However, many haven’t considered the underlying cost structure. Furthermore, not all on-demand services are created equal: different industry services have different underlying operational dynamics. Just take a read on why HomeJoy failed. …
You probably won’t even see it coming
I’ve been obsessed with WeChat since using it in Shanghai late 2014. It’s the omni tool for everything — use it to chat, order a taxi, send friends money, bank online, etc. So naturally, the question that has been nagging me for the past year is: where is the WeChat of the west?
There won’t be one. But there will be a $100bn+ opportunity in connecting services on mobile.
In the US today, we can do a lot on our smartphones but many of these services require disparate tools: we buy coffee with a credit card, tip in cash, and hail cabs with a smartphone— why can’t we do it all within one tool like WeChat? …
You need to define your values.
Two weeks into my first job as an investment banker and I already wanted to quit. I averaged 80 hours both weeks and my VP already chewed me out over a ridiculous formatting issue.
I felt like an idiot. I felt like wasted talent. I couldn’t take it. Why was I here?
I still vividly remember calling my dad on that second Friday. I snuck out of the office mid-afternoon and stood on the Battery Park harbor. I told my dad I needed to quit.
Then, somehow, I completed my two-year analyst stint.
I often felt unhappy during those two years and attributed those feelings to external circumstances — that my bank wasn’t getting enough deal flow, that the hours were too long, and that things could’ve been different had I tried harder in college. But I was wrong. I felt unhappy because I was insecure; insecure because I never defined my values. …