[0:00:00-0:00:15]

The guy that runs Sequoia Capital now his name is Doug Leone. One day I think it's a year year-and-a-half ago Doug Leone says your job sucks and I was like what the hell is that mean you got the worst job of any CEO in my portfolio and



[0:00:15-0:00:31]

I said tell me why and this is what he said he says here's how I think about it first of all your technology company thought we were technology company I would say at a heart in many ways we are technology company until you have all the challenges of Almeda portfolio



[0:00:31-0:00:46]

companies but beyond that you are in 190 countries that so you have to figure out how to be International we have to hire people in countries all over the world were literally in every country robot North Korea answering to your payments company we handle billions



[0:00:46-0:01:00]

of dollars through our system every year and we had to get money transmitter license in the state of California so we actually are payments company we have serious fraud and rest it took to Warrenton needs to be locked down like Fort Knox he said that's that's usually work



[0:00:46-0:01:01]

of dollars through our system every year and we had to get money transmitter license in the state of California so we actually are payments company we have serious fraud and rest it took to Warrenton needs to be locked down like Fort Knox he said that's that's usually work when you



[0:01:01-0:01:16]

got to worry about all the other crap they said trust and safety you know we have four hundred twenty five thousand people staying in other people's under people's beds in their sheets take about a woman from Attack the stains in the Middle East or vice versa the cultural conflicts



[0:01:16-0:01:31]

that could happen and misunderstandings and you know what you have for your 25,000 people night it's like being the mayor of Oakland Oakland all the things happen Oakland tonight so now we have regulatory problems we



[0:01:31-0:01:47]

are in 34000 cities every city has a different law different rules and many of them are written in a different Century before he had any of Technology but you've got to deal with that then you've got issues like search and Discovery so Google it. It's brand about being really important about search



[0:01:47-0:02:00]

the thing about search those usually 5 question if Google can give me $40,000 results but it probably acquire that there's like one or two best options for everybody so I want to know what question to answer these really want.



[0:01:47-0:02:02]

the thing about search those usually 5 question if Google can give me $40,000 results but it probably acquire that there's like one or two best options for everybody so I want to know what question to answer these really want. we have 40,000



[0:02:02-0:02:17]

homes in Paris there is no best home in Paris for anybody in this room so we have to be really really great at matching people and Technology we have to be a company that's just another example Facebook for example is a digital product their product is their website our



[0:02:17-0:02:32]

products are these experiences you have in the real world so we're not just an online product to be an offline product we need to transition from Winter and your app through cities and these are just some of the examples why technology design so basically this long of the short



[0:02:32-0:02:47]

of it is we have to be world-class technology with the world classic design Quincy Wilcox at branding because we've got to convince people this isn't crazy you're not going to die when you use it we had to convince government this is good for your neighborhood why does the internet moves into your neighborhood that's why people call it it's



[0:02:47-0:02:58]

a good thing and you got to make sure truck and safeties really world class that we handle his payments and I have problems with risk and I can kind of go through in this is not even to do with culture not even mention culture



[0:02:47-0:03:03]

a good thing and you got to make sure truck and safeties really world class that we handle his payments and I have problems with risk and I can kind of go through in this is not even to do with culture not even mention culture so that's how I'd describe as I can be I think great companies are Cumby's are probably really strong



[0:03:03-0:03:12]

at everything but you know we we try to hire the very best engineers and Technical talent in the world then I definitely has a marketing company thank you thank you



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