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Keith Rabois is a Managing Partner at Khosla Ventures and the CEO of OpenStore, which acquires small direct-to-consumer businesses. Keith co-founded Opendoor and led the first institutional investments in DoorDash and Affirm. He has early stakes in YouTube, Palantir, Lyft, Airbnb, Eventbrite, and Wish, and also led investments in Faire, Ramp, Trade Republic, and Stripe. He’s regarded as one of the greatest early stage investors.
Keith began his career in the industry as a senior executive at PayPal and subsequently served in influential roles at LinkedIn and as chief operating officer of Square. As a board member, Keith guided Yelp and Xoom from inception to IPO, and served on the board of Reddit from 2012-2018.
0:00 - Intro1:56 - Great Founders and the Bottleneck to Innovation4:35 - Vertical Integration6:24 - The Hollywood Model of Startups7:41 - The “Why Now?” in Company-Building9:50 - Multi-Product Companies10:58 - Iteration and Pivots12:52 - Picking Co-Founders14:51 - Identifying Mispriced Talent17:20 - Attracting Talent20:57 - Assessing Talent24:02 - Doing References25:56 - Closing Hires28:28 - Thinking 6 Months Ahead31:36 - How Long Should You Interview For?33:28 - Creating a Monopoly on Talent35:44 - Raising Capital37:40 - Screening Investors41:21 - Building a Board44:11 - Triaging and Identifying Problems47:59 - Writing vs Editing and Consistent Voice49:34 - Creating Transparency50:50 - Barrels and Ammunition54:55 - Task-Relevant Maturity56:40 - On Delegating59:21 - Measuring Inputs vs Outputs1:02:58 - Underrated Metrics
1:05:22 - What Should More People Be Thinking About?
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(0:00) The Besties intro Antonio Gracias!
(3:11) DOGE takes on USAID
(31:44) Sacks breaks in to talk USAID
(34:00) Sacks explains what he's working on: Crypto/AI Frameworks
(46:41) The Democratic Party's shrinking base
(52:33) US Sovereign Wealth Fund + Breaking DOGE/Tax News
(1:09:07) Google to spend $75B on AI buildout in 2025, future of work in the age of AI
(1:23:21) Science Corner: GLP-1 macro study
Follow Antonio:
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https://x.com/Jason
https://x.com/DavidSacks
https://x.com/friedberg
Follow on X:
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Intro Music Credit:
https://rb.gy/tppkzl
https://x.com/yung_spielburg
Intro Video Credit:
https://x.com/TheZachEffect
Referenced in the show:
https://en.wikipedia.org/wiki/United_States_Agency_for_International_Development
https://www.wsj.com/opinion/usaid-donald-trump-elon-musk-marco-rubio-state-department-foreign-aid-8d2a1920
https://www.usa.gov/agencies/u-s-agency-for-international-development
https://www.usaspending.gov/agency/agency-for-international-development?fy=2024
https://www.whitehouse.gov/fact-sheets/2025/02/at-usaid-waste-and-abuse-runs-deep
https://www.wsj.com/finance/banks-sell-5-5-billion-of-x-loans-after-investor-interest-surges-4b84f89c
https://www.usaspending.gov
https://www.foxnews.com/media/ex-politico-reporters-reveal-editors-quashed-slow-walked-negative-biden-stories-with-no-explanation
https://www.usaspending.gov/recipient/fa0cefae-7cfb-881d-29c3-1bd39cc6a49e-C/2024
https://www.bbc.co.uk/mediaaction/about/funding
https://www.whitehouse.gov/presidential-actions/2025/01/reevaluating-and-realigning-united-states-foreign-aid
https://x.com/susancrabtree/status/1884034727046226317
https://x.com/elonmusk/status/1886627783138316442
https://www.nbcnews.com/politics/national-security/usaid-security-leaders-removed-refusing-elon-musks-doge-employees-accercna190357
https://x.com/Jason/status/1885082871074886110
https://x.com/anc_aesthetics/status/1886176995433763188
https://x.com/wikileaks/status/1887501752213409919
https://x.com/pm_viktororban/status/1887224829352280505
https://x.com/daily_romania/status/1887883017550430435
https://x.com/kanekoathegreat/status/1887261736618893636
https://www.whitehouse.gov/presidential-actions/2025/01/strengthening-american-leadership-in-digital-financial-technology
https://x.com/davidsacks47/status/1886878016183394403
https://www.banking.senate.gov/newsroom/majority/scott-hagerty-lummis-gillibrand-introduce-legislation-to-establish-a-stablecoin-regulatory-framework
https://www.washingtonpost.com/opinions/2025/02/02/rahm-emanuel-democrats-voters-kitchen-table
https://www.whitehouse.gov/presidential-actions/2025/02/a-plan-for-establishing-a-united-states-sovereign-wealth-fund
https://www.americanprogress.org/article/scott-bessents-3-percent-deficit-target-would-require-massive-cuts-to-anti-poverty-programs-and-middle-class-tax-increases
https://abcnews.go.com/US/judge-weigh-block-doge-accessing-treasury-department-records/story?id=118498817
https://en.wikipedia.org/wiki/United_States_DOGE_Service
https://x.com/libsoftiktok/status/1887585824218509380
https://fedscoop.com/wp-content/uploads/sites/5/2025/02/show_temp.pdf
https://www.cnbc.com/2025/02/05/alphabet-shares-fall-7percent-on-revenue-miss-heightened-ai-investments.html
https://abc.xyz/assets/a3/91/6d1950c148fa84c7d699abe05284/2024q4-alphabet-earnings-release.pdf
https://x.com/SawyerMerritt/status/1886899315735507255
https://www.nature.com/articles/s41591-024-03412-w
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