Keith Rabois

Yeah.

Keith Rabois favorite.

Yeah.

It's a, it's a great one, and it just is a very empowering book because you just realize it's like you cannot affect the outcome.

Well, in our case, we look at the immediate payback period.

This is actually something where Keith, uh, was really pushy, and he was correct since day one.

So he wanted us to have an immediate payback period, and then we have what we call contribution margin, so is what is the margin on day zero? Then we have a subscription, and the subscription will compound on top of that.

But we want to have that contribution profit on day one to be really healthy.

You sell in China.

You, you spend a lot of time in China.

A lot of your investors, including Keith Rabois, who's a friend of mine [laughs], fucking hates China.

How do you reflect on that? Is it as evil and CCP-driven as it seems? Are we in a de-globalized world that should hate China? How do you think about that?

I mean, it does go viral, but, uh, clearly there were people that had demand for more s- of a story that they could track, and they could, and they could falsify individual...

Uh, like Keith Rabois yesterday was, was, was struggling with this where it was like it's hard to falsify someone saying, "10% in the next 10 years." But it's, but it's easier to falsify about, like, well, the, the nuclear weapons will be fired at this time, and this is what's gonna happen, and this is how they get done.

Also the, the job loss stuff.

Totally.

Uh, thieves raided the Renoir Museum in the latest French art heist.

We'll get to that story after we chat with Keith Rabois, Managing Director at Coastal Ventures, returning to the show [clapping] for the fourth, fifth, sixth time.

It's always a great chat.

Keith, how are you doing?

[laughs]

"A- And the non-verbal communication was pretty clear how I felt." [laughs] And pe- and people were like, "Did he really do that?" And Keith, you know, Keith Rabois was like, "Yeah, he would literally do that.

He would...

If you tried to bring up anything else besides your problem, he would just turn around and he would just walk away."

I obviously had Matan in the studio.

I was chatting to Keith Rabois over the weekend about you.

So thank you so much for joining me, dude.

No, thank you for having me.

And so it always kind of makes me feel good to say, like, "Okay, this person had a very good heart and a brilliant mind, and that's a good person to have on the US Supreme Court."

Tell me more about the people, 'cause I think most of us know that at Stanford you, you're with Peter Thiel and, and Keith Rabois and, and, and David Sacks and, and a lot of these personalities who've got a big profile of their own now in tech.

Was Oxford...

I mean, you mentioned the Supreme Court judge.

Yeah

... and you knew, like, if you were changing diapers and saving the company every minute, changing diaper with right hand and saving company with left hand, you just hadn't done the right hiring.

And when you find great people and they, they really move the business, and I always, like, think back to, like, the best example of it that I'd ever seen was, was Peter Thiel who had brought on Roloff and David Sacks and Keith Rabois and Reid Hoffman, this incredible group of people in Elon, but through via the merger.

And he could stay back in his place and play chess and think about the future, and that team would execute.

Yeah.

And, uh, I think it was Keith Rabois or some investor that was just like, "Okay, if I told you what the company's without saying any other info-

Yeah

... one's all in person and one's remote, which one are you investing in?" Definitely in person, right?

So the tweet, the tweet that is under question here is a tweet from Vinod Khosla that sent out recently.

But before we even get to that, within that tweet, what it's responding to is a different tweet that highlights a September twenty twenty-two conversation between Keith Rabois and Deirdre Bosa.

This conversation they had, which again, it was about four years ago, and at the time was very contentious.

And what happens in this, my baseline summary, and if you wanna add to it, you probably don't 'cause I don't even think you wanna talk about it.

But those expenses will be [chuckles] appropriately attributed if they do their accounting correctly to when the costs actually accrue, and that could mean, that should mean if the company's making wise investments, they're probably GAAP profitable today and tomorrow and in the future.

They just had a huge cash outlay.

Yeah, so one thing I should mention, for those that don't know who Keith Rabois is, who's the person in the video, he is a managing director at Coastal Ventures.

So there's a, there's some-- They're, they're both in the same house.