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Despite having a strong product idea, Reid Hoffman’s first startup collapsed, forcing him to return investors’ capital. This tough experience reshaped his approach to entrepreneurship. By embracing failure, iterating quickly, and adapting relentlessly, he went on to become a leader at PayPal and later, the co-founder of LinkedIn. In this episode, Reid shares the concept of blitzscaling, which prioritizes speed over perfection, smart strategies for taking risks, and insights on achieving rapid market dominance. In this episode, Hala and Reid will discuss: (00:00) Introduction (01:32) Building Impact-Driven Businesses (02:56) Why We Need More Entrepreneurs (04:31) The Vision Behind LinkedIn’s Success (06:43) Lessons from a Failed Startup (09:26) Making Quick, Intense Decisions at PayPal (12:39) Blitzscaling: Prioritizing Speed Over Efficiency (18:10) Maintaining Company Culture While Scaling (21:20) The Power of Early Market Dominance (25:01) The Five Stages of Company Growth (28:54) Strategies for Taking Intelligent Risks (31:44) Why Product Perfection Delays Success (33:25) Pivoting Early to Seize New Opportunities (36:18) Entrepreneurship as a Team Sport Reid Hoffman is an entrepreneur, investor, partner at Greylock, and co-founder of LinkedIn and Inflection AI. He was an executive at PayPal and a founding investor in several companies, including OpenAI. Reid actively supports various non-profits and has received numerous accolades, including an honorary CBE from the Queen of England and the Salute to Greatness Award from the Martin Luther King Jr. Center for his philanthropic efforts. Resources Mentioned: Reid’s Book, Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies : amzn.to/4jnQkfQ Sponsored By: OpenPhone - Get 20% off 6 months at openphone.com/PROFITING Shopify - Sign up for a one-dollar-per-month trial period at youngandprofiting.co/shopify Airbnb - Your home might be worth more than you think. Find out how much at airbnb.com/host Rocket Money - Cancel your unwanted subscriptions and reach your financial goals faster with Rocket Money. Go to rocketmoney.com/profiting Indeed - Get a $75 job credit at indeed.com/profiting RobinHood - Receive your 3% boost on annual IRA contributions, sign up at robinhood.com/gold Active Deals - youngandprofiting.com/deals Key YAP Links Reviews - ratethispodcast.com/yap Youtube - youtube.com/c/YoungandProfiting LinkedIn - linkedin.com/in/htaha/ Instagram - instagram.com/yapwithhala/ Social + Podcast Services: yapmedia.com Transcripts - youngandprofiting.com/episodes-new All Show Keywords: Entrepreneurship, entrepreneurship podcast, Business, Business podcast, Self Improvement, Self-Improvement, Personal development, Starting a business, Strategy, Investing, Sales, Selling, Psychology, Productivity, Entrepreneurs, AI, Artificial Intelligence, Technology, Marketing, Negotiation, Money, Finance, Side hustle, Startup, mental health, Career, Leadership, Mindset, Health, Growth mindset. Career, Success, Entrepreneurship, Productivity, Careers, Startup, Entrepreneurs, Business Ideas, Growth Hacks, Career Development, Money Management, Opportunities, Professionals, Workplace, Career podcast, Entrepreneurship podcast…
Ian is a photographer, stand up comedian, and former trivia host. He throws some of the best parties in Tulsa! All around great guy and a great conversation about his life and how he ended up in good ole Tulsa, America. Follow us on socials and subscribe so you don't miss out on new episodes every Wednesday! https://www.facebook.com/ThirdPartyObservers https://twitter.com/PartyObservers https://www.instagram.com/p/CItgrsBHtvv/?igshid=117akzicp4paw --- Send in a voice message: https://podcasters.spotify.com/pod/show/thirdpartyobservers/message…
This episode we are joined by Bri who is a local teacher and shaper of young minds, global traveler, and amateur photographer! They discus her journeys and it makes for an interesting conversation you don’t want to miss. Follow us on socials and subscribe so you don't miss out on new episodes every Wednesday! https://www.facebook.com/ThirdPartyObservers https://twitter.com/PartyObservers https://www.instagram.com/p/CItgrsBHtvv/?igshid=117akzicp4paw --- Send in a voice message: https://podcasters.spotify.com/pod/show/thirdpartyobservers/message…
The guys discuss what they would do if they were invited to tea with the queen (Stan is not excited), Austin poses some interesting questions, and they discuss the pros and cons of being able to do any terrible thing to a person you hate! Follow us on socials and subscribe so you don't miss out on new episodes every Wednesday! https://www.facebook.com/ThirdPartyObservers https://twitter.com/PartyObservers https://www.instagram.com/p/CItgrsBHtvv/?igshid=117akzicp4paw --- Send in a voice message: https://podcasters.spotify.com/pod/show/thirdpartyobservers/message…
The guys talk about Johns extravagant adventures in Greece while he is still in Greece! Stan recalls an injury from his time in Montana, and Austin brings up the Will Smith slap controversy. Follow us on socials and subscribe so you don't miss out on new episodes every Wednesday! https://www.facebook.com/ThirdPartyObservers https://twitter.com/PartyObservers https://www.instagram.com/p/CItgrsBHtvv/?igshid=117akzicp4paw --- Send in a voice message: https://podcasters.spotify.com/pod/show/thirdpartyobservers/message…
Strap in for a riveting conversation with none other than our very own: Producer Amy! Long time friend of the podcast now has more of a connection (an eternal one), which is discussed as John recalls one of the longest 10 seconds of his life (hint: he almost lost the ring at the wedding). Follow us on socials and subscribe so you don't miss out on new episodes every Wednesday! https://www.facebook.com/ThirdPartyObservers https://twitter.com/PartyObservers https://www.instagram.com/p/CItgrsBHtvv/?igshid=117akzicp4paw --- Send in a voice message: https://podcasters.spotify.com/pod/show/thirdpartyobservers/message…
The guys get quizzed on Saint Patrick’s Day trivia, talk upcoming travels, and discuss some thought provoking questions! Should it be legal to sell your kidney? What would a world populated with your clones look like? All questions that need answered. Follow us on socials and subscribe so you don't miss out on new episodes every Wednesday! https://www.facebook.com/ThirdPartyObservers https://twitter.com/PartyObservers https://www.instagram.com/p/CItgrsBHtvv/?igshid=117akzicp4paw --- Send in a voice message: https://podcasters.spotify.com/pod/show/thirdpartyobservers/message…
Tia McKee is our first ever return guest and for good reason! She helps keep Stan and John from bickering, and shares about her new business venture in the real estate industry. Follow us on socials and subscribe so you don't miss out on new episodes every Wednesday! https://www.facebook.com/ThirdPartyObservers https://twitter.com/PartyObservers https://www.instagram.com/p/CItgrsBHtvv/?igshid=117akzicp4paw --- Send in a voice message: https://podcasters.spotify.com/pod/show/thirdpartyobservers/message…
See if you can guess the movie from the clues before John and Stan do in this episode. The guys also discuss the dangers of greasy food (💩 oops ;) and the history of Cinco De Marcho! Follow us on socials and subscribe so you don't miss out on new episodes every Wednesday! https://www.facebook.com/ThirdPartyObservers https://twitter.com/PartyObservers https://www.instagram.com/p/CItgrsBHtvv/?igshid=117akzicp4paw --- Send in a voice message: https://podcasters.spotify.com/pod/show/thirdpartyobservers/message…
Kenny is a friend of the podcast and all around interesting guy. Tune in to hear his stories about playing college football, his title as the belly flop king, and much more! Follow us on socials and subscribe so you don't miss out on new episodes every Wednesday! https://www.facebook.com/ThirdPartyObservers https://twitter.com/PartyObservers https://www.instagram.com/p/CItgrsBHtvv/?igshid=117akzicp4paw --- Send in a voice message: https://podcasters.spotify.com/pod/show/thirdpartyobservers/message…
Check this awesome episode where the guys talk winter olympics and they discuss some questions about their own lives! Gain a little better understanding about what makes them tick. Follow us on socials and subscribe so you don't miss out on new episodes every Wednesday! https://www.facebook.com/ThirdPartyObservers https://twitter.com/PartyObservers https://www.instagram.com/p/CItgrsBHtvv/?igshid=117akzicp4paw --- Send in a voice message: https://podcasters.spotify.com/pod/show/thirdpartyobservers/message…
The questions stands for itself, join the guys as they harness their inner history buff to discuss what modern days would look like if America lost the revolutionary war. Follow us on socials and subscribe so you don't miss out on new episodes every Wednesday! https://www.facebook.com/ThirdPartyObservers https://twitter.com/PartyObservers https://www.instagram.com/p/CItgrsBHtvv/?igshid=117akzicp4paw --- Send in a voice message: https://podcasters.spotify.com/pod/show/thirdpartyobservers/message…
Take a walk down memory lane with Stan, Drew Crawley, and the guys as they discuss childhood shenanigans! Drew talks about a lot: songwriting, performing, inspirations for music, and may bring out some dirt on Stan 😉 Enjoy the episode this week, we certainly did! Drew’s info: Spotify: https://open.spotify.com/artist/0fjboDS8qk42bmzQzTzcjE?si=moR4YWddQD2Vj1pfalMDBw Instagram: @drew.crawley63 Twitter: @drewcrawley63 Podcast: Bourbon Turntables on any platform Follow us on socials and subscribe so you don't miss out on new episodes every Wednesday! https://www.facebook.com/ThirdPartyObservers https://twitter.com/PartyObservers https://www.instagram.com/p/CItgrsBHtvv/?igshid=117akzicp4paw --- Send in a voice message: https://podcasters.spotify.com/pod/show/thirdpartyobservers/message…
This week has the guys falling out of their chairs because they are laughing so hard! Topics of discussion range from eating dog and cat, to living in medieval times, to discussing the end of the world by volcano. We could say that “You’ll be glad you listened” but that would be cliche and stupid. But for real, have a listen and if you don’t laugh then send us nasty comments on social media (are you part of the problem?). Have a great week! Follow us on socials and don't forget to subscribe so you don't miss out on new episodes every Wednesday! https://www.facebook.com/ThirdPartyObservers https://twitter.com/PartyObservers https://www.instagram.com/p/CItgrsBHtvv/?igshid=117akzicp4paw --- Send in a voice message: https://podcasters.spotify.com/pod/show/thirdpartyobservers/message…
The guys talk aliens and how the world will react to news of intelligent life on other planets. NASA hired a team of theologians to discuss the implications of otherworldly life and the guys think that might be pointing at something they won’t come out and say! 🤔 Regardless the rest of the episode covers some of the most famous people that ever lived in recent history. Enjoy! Follow us on socials and don't forget to subscribe so you don't miss out on new episodes every Wednesday! https://www.facebook.com/ThirdPartyObservers https://twitter.com/PartyObservers https://www.instagram.com/p/CItgrsBHtvv/?igshid=117akzicp4paw --- Send in a voice message: https://podcasters.spotify.com/pod/show/thirdpartyobservers/message…
Stan introduces John and Austin to NFT’s and Cryptocurrencies, they duel it out on being sick, and somebody eats a cricket! Never a dull moment in the observer’s podcast! Follow us on socials and don't forget to subscribe so you don't miss out on new episodes every Wednesday! https://www.facebook.com/ThirdPartyObservers https://twitter.com/PartyObservers https://www.instagram.com/p/CItgrsBHtvv/?igshid=117akzicp4paw --- Send in a voice message: https://podcasters.spotify.com/pod/show/thirdpartyobservers/message…
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