Episode 101 Reid Hoffman Michael McCullough

Summary

• Tim Ferriss interviews Reid Hoffman, cofounder and Executive Chairman of LinkedIn, and Michael McCullough, cofounder of QuestBridge.org and a political professor at the University of California, San Francisco
• Reid is known as the Oracle of Silicon Valley for his successful company building and investing track record, which includes PayPal, LinkedIn, Facebook, Airbnb, and Flickr
• Michael is an ER physician, Rhodes Scholar, Kauffman Fellow, and Ashoka Fellow, and is interested in investing in technologies and companies related to the mind
• Topics discussed include Reid's meeting with Mark Zuckerberg and decision to invest in Facebook, the use of board games to develop strategy, Reid's thoughts on Uber's successes and areas for improvement, philosophy for entrepreneurs, managing life and death decisions in the ER, and the three types of CEOs
• QuestBridge is a nonprofit that provides lowincome talent with access to top universities through a standardized college application accepted by 36 universities and offers scholarships and laptop giveaways to encourage college attendance
• Reid Hoffman recommends Ludwig Wittgenstein as a starting point for learning about philosophy and language
• Michael McCullough discusses the use of algorithms in the ER and the importance of going off algorithm in certain situations, such as when a patient is lucid enough to make phone calls before being intubated
• Michael also talks about the challenges of managing life and death situations in the ER and the importance of mindfulness and compassion in this context
• Tim Ferriss and Michael discuss the role of meditation in managing stress and improving decisionmaking in highstress environments
• Michael talks about his work with QuestBridge, a nonprofit that provides lowincome talent with access to top universities through a standardized college application and offers scholarships and laptop giveaways to encourage college attendance
• Reid Hoffman discusses the process of identifying and understanding unknowns when faced with a problem, such as how to navigate regulation as a startup
• He recommends starting by identifying the desired end result and working backwards to understand the considerations and stakeholders involved
• Hoffman attributes his strategic thinking skills to his childhood experience playing complex board games and recommends reading military strategy, playing games against other people, and participating in sports as ways to develop similar skills
• He also discusses the importance of selfawareness in understanding one's own strategic abilities and the value of experimentation and learning from failures
• Reid talks about the three types of CEOs: founders, professional managers, and hybrid CEO/founders
• He advises founders to consider their own skills and interests when deciding whether to remain CEO or bring in a professional manager, and suggests that hybrid CEO/founders can be effective in certain situations
• Reid also talks about the role of the board of directors in supporting the CEO and the importance of finding and building a strong board early on in the company's development
• He discusses the need for trust and transparency in CEOboard relationships and the benefits of diverse board membership
• Reid Hoffman and Peter Thiel invested in Facebook in its early stages
• Hoffman had previously worked with Thiel and was interested in the company's potential for viral expansion
• Hoffman decided to split the investment with Thiel due to their partnership and the fact that Facebook was also a part of the investment
• Hoffman is not interested in largescale CEO roles, but is comfortable in midstage and earlystage CEO roles
• Founders should try to stay with their company for as long as possible, but should also be willing to step down as CEO if necessary
• When searching for a new CEO, it is important to find someone who is compatible with the company's culture and values and has relevant experience
• It is also important to clearly communicate the reasons for the CEO change and ensure a smooth transition.
• Reid Hoffman discusses the importance of thinking strategically and developing selfawareness in order to be successful
• He recommends playing board games, reading about military strategy, and playing sports to develop strategic thinking skills
• He believes that founders should try to stay with their company as long as they are passionate and able to contribute
• He starts his day by working on a creative problem that he has identified, using a combination of pen and paper and his subconscious to come up with solutions
• He learns from people in his network, including Brian Chesky, who focuses on design and hospitality, and Marc Andreessen, who is able to look at the big picture and think about how to change the world.
• Reid Hoffman is the chairman of the QuestBridge advisory board
• QuestBridge helps students from lowincome families gain access to higher education by connecting them with colleges and universities
• Michael McCullough is the CEO of QuestBridge
• QuestBridge focuses on students from lowincome families, particularly those who are firstgeneration college students
• QuestBridge has helped thousands of students gain admission to top colleges and universities
• QuestBridge provides support to students throughout the college application process, including finding financial aid and preparing for college
• QuestBridge also works with colleges and universities to increase the number of lowincome students on their campuses
• Reid Hoffman believes that education is the key to success and that everyone should have the opportunity to pursue higher education, regardless of their financial circumstances.
• The podcast features an interview with Reid Hoffman and Michael McCullough
• They discuss QuestBridge, an organization which helps lowincome students gain access to top universities
• QuestBridge offers a college application process, as well as financial aid from partner universities
• People can offer prizes to incentivize lowincome students to apply to college
• Michael McCullough's email is available for people interested in creating their own interventions to help lowincome students
• Reid Hoffman suggests a billboard in Washington D.C. for Congress people that says "Have you worked with someone across the aisle today?"