Net Workers

James & Marcelo discuss Tesla's business model of selling Carbon Offset Credits to their competitors, mega-startup streaming service Quibi shutting down, and a great follow-along YouTube and Twitter account called 'One Hour SaaS'.

Tesla Cheating?

• https://twitter.com/iamtomnash/status/1321456281438375937

Quibi Shutting Down:

• https://www.youtube.com/watch?v=vvEFtRra1A8
• https://www.wsj.com/articles/quibi-weighs-shutting-down-as-problems-mount-11603301946

One Hour SaaS:

• https://twitter.com/onehoursaas
• https://onehoursaas.com/

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James and Marcelo discuss:

Apple's new iPhone 12

• What does 5G bring to the table, and is it worth buying?

Which businesses could you start in 2021?

• Paid communities
• Micro marketplaces
• Disaggregation/unbundling - reddit, linkedin, etsy, ebay, etc..
• Micro SaaS
• Digital products

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James and Marcelo discuss why 'failing' and making mistakes is the fastest route to growth in your business, how your personal situation and your business model affects whether you should grow your business through revenue or if you should seek outside funding, and go through a number of tips and suggestions for the startup fundraising process.

"Don't minimize mistakes. Minimize repeat mistakes. Fail in new ways and learn." - Lex Fridman

- https://twitter.com/lexfridman/status/1313168212733825024

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James and Marcelo discuss Peloton and the amount of effort that went into raising their initial angel financing, the factors to pay attention to in order to have a good productive meeting, and tactics and strategies for pricing your product to match the value it provides to your customers.

Peloton and the grit and determination needed to raise initial seed/angel funding:

- https://twitter.com/TurnerNovak/status/1311504505985544193

How to improve the quality of your meetings:

- https://twitter.com/schlaf/status/1293187768491757575

How to price your product:

- https://twitter.com/mattwensing/status/1288463257100005376

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James and Marcelo discuss solving problems by flipping them on their head, aligning employee metrics and goals to company goals through the use of frameworks like Google's OKR (Objectives and Key Results), and how to incentivise employees to want what the company wants too.

Business is so much easier when you invert:

"Problems frequently get easier if you turn them around in reverse. In other words, if you want to help India, the question you should ask is not 'how can I help India,' it's 'what is doing the worst damage in India? Invert. Always invert."

–Charlie Munger

https://twitter.com/awilkinson/status/1308134359052943361

People who work for @elonmusk are great at mission-to-metrics:

"SpaceX's mission is to colonize Mars. To do that, we need reusable rockets. My job is to help design the steering system that enables our rockets to land back on earth. You'll know I'm successful because of xyz"

https://twitter.com/ChrisJBakke/status/1308149211515375616

"The extreme difficulty of scaling production of new technology is not well understood. It's 1000% to 10,000% harder than making a few prototypes. The machine that makes the machine is vastly harder than the machine itself."

https://twitter.com/elonmusk/status/1308284091142266881

- Tesla Battery Day

Incentives tied to company performance, e.g. revenue wins and saving money:

https://twitter.com/awilkinson/status/1304067099136933890

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James & Marcelo discuss overwhelm and strategies for overcoming the paralysis of too many tasks, the benefits of having a systems mindset when you are an entrepreneur, and build your business as if you were going to sell it tomorrow.

Stop trying to win the year - focus on the day:

• https://twitter.com/patrickbetdavid/status/1305909818058829825
• Stop trying to win the year.
• Focus on the day.

Having a 'systems mindset'

• https://twitter.com/nateliason/status/1306338772456529920
• One common thread among all the really successful and productive people I know is they have a "systems mindset."

A sellable business is a good business

• https://twitter.com/arvidkahl/status/1306201834420404224
• A good business is sellable. Run your business as if you wanted to sell it next month. That way, it will always be the best version of itself. (Then, don't sell it until you're ready).
• Book recommendation: Built to Sell by John Warilow

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James & Marcelo discuss tactics for getting your first few customers and how long you can continue doing things which don't scale. Next, the benefit of not reinventing the wheel when it comes to business models. Finally the links between the sales of TikTok and ARM Holdings.

Short Term vs Long Term Sales Tactics:

• Getting customers, short term vs long term tactics
• Short: handling every support call, visiting in person, personal follow-up, mining personal connections
• Long: cold calling, drip email campaigns, SEO, scalable lead-gen campaign
• https://twitter.com/_rchase_/status/1305604708451659776

Sometimes You Don't Need to Invent Something Totally New:

• Mike Volpe 'sometimes you dont need to invent something totally new'
• https://twitter.com/mvolpe/status/1305600506753146885

TikTok & ARM Holdings Sales:

• TikTok purchase dance - Microsoft no, Oracle yes?
• ARM being bought by NVidia for $40B from Softbank

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This episode features James and Marcelo taking on e-commerce, product design and the LTSE.

Setting up an eCommerce site with Shopify or WooCommerce

The 80/20 of Launching a Product or Feature:

• https://twitter.com/Suhail/status/1303845022337363968
• A big part of being a great engineer is the difference between "Ok, it works & I am done!" and "it works, I fixed the most common edge cases, I'm aware of more UX issues but lets put 'em in the backlog for now, lets ship—i know there's more work to make this great"

Long Term Stock Exchange:

• Eric Ries = Lean Startup author
• 2012 to now to gain regulation and launch
• SPAC, IPO jumps, high seed valuations
• Long term governance focus for companies rather than quarterly results

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This episode features James and Marcelo discussing micromanagement, 4 types of entrepreneurs, and the "paradox" of raising a family and a business at the same time.

Elon Musk the Micromanager:

• https://twitter.com/theSamParr/status/1301994223101775873

4 kinds of Entrepreneurs:

• https://twitter.com/awilkinson/status/1302334434021052416

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This episode features James and Marcelo discussing business as usual, with some extended thoughts for entrepreneurs on

• Why Apple is worth more than the entire FTSE100 which leads to ask why Europe/UK doesn't have big tech, then
• Jumping into the sports franchise business model and the economics behind Lionel Messi leaving Barcelona,
• Wrapping up with some practical advice on working hard vs working smart.

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