Dan Martell - August 12, 2024


Here's why some of the best tech companies were started in a downwards economy


Episode Stats


Length

31 seconds

Words per minute

219.32613

Word count

115

Sentence count

6


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

The best companies are started in a down economy. When the economy is going and the money is flowing, then all the talent gets dispersed amongst a bunch of ideas. Y Combinator says, hey, we'll give you 500k, and there's all this drunk excitement. When everything is compressed and people are trying to recruit talent, and those people that are crazy enough to go do a startup, they get together. That's how you create a PayPal mafia.

Transcript

Transcript generated with Whisper (turbo).
00:00:00.000 If you look at all the top tech companies from Google to Amazon, et cetera, they were all started in a down economy.
00:00:04.360 The reason why the best companies are started in a down economy is because they're high IQ per square foot.
00:00:10.260 When the economy is going and the money is flowing, then all the talent gets dispersed amongst a bunch of ideas.
00:00:16.580 Y Combinator saying, hey, we'll give you 500K and there's all these accelerators, there's all this drunk excitement.
00:00:22.640 When everything's compressed and people are trying to recruit talent and those people that are crazy enough to go do a startup,
00:00:28.660 They get together.
00:00:29.960 That's how you create a PayPal mafia.