1 post tagged “peter thiel”
Have you ever wondered what it takes to be a successful Silicon Valley CEO? We'll, recently at the TechCrunch50 conference, I was fortunate to hear from some of the best in the industry share their thoughts. Here are just a few ideas that were discussed.
Peter Thiel suggested that the best predictor to a startup success, is low CEO pay. He says:
The lower the CEO salary, the more likely it is to succeed.
The CEO’s salary sets a cap for everyone else. If it is set at a high level, you end up burning a whole lot more money. It aligns his interest with the equity holders. But [beyond that], it goes to whether the mission of the company is to build something new or just collect paychecks.
In practice we have found that if you only ask one question, ask that.
Now, that's only if you could ask one question - so in that context, it does make sense... and I would agree.
Using a different filter from Chris Sacca (Venture Investor, Private Equity Principal, Advisor), he suggested a list of life events that might act as a good filter.
- Traveled abroad
- Play sports (athletic)
- Worked a shitty job.
- Can show vulnerability
And lastly, and probably my favorite, was Yossi Vardi's (Tech Entrepreneur, Investor) thoughts.
- Be top talent
- Nice person
- Focused!
- Nimble
- Be in the right space
- Good listener
If I were to make my own list, I would probably include most of the ideas above - but I would definitely add passion, and the ability to attract top talent. Having a great team is definitely the key in all of this, and if the person can't attract, and play nice with others, it's usually a good indication of failure. (unless he's smart enough to put someone between him and the others, but that's another discussion altogether).
What would you add? Anything you disagree with?
