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I'm a 36-year-old CEO who sold my first startup for $1 billion. Here's what I've learned this past decade.

https://www.businessinsider.in/careers/news/im-a-36-year-old-ceo-who-sold-my-first-startup-for-1-billion-heres-what-ive-learned-this-past-decade-/articleshow/72955502.cms

businessinsider.in

I'm a 36-year-old CEO who sold my first startup for $1 billion. Here's what I've learned this past decade.
Justin Kan is a mid-30s entrepreneur who sold his previous startup, Twitch, to Amazon for $1 billion, and has raised millions in VC funding for his current project, the legal startup Atrium. On Twitter, Kan reflected back on the past decade, and what's he learned in the 2010s.

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Knowing Success

Knowing Success

Justin Kan is a mid-30s entrepreneur who sold his previous startup, Twitch, to Amazon for $1 billion, and has raised millions in VC funding for his current project, the legal startup Atrium.

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Work With The Right People

Success might boil down to whom you are working with.

Having the right people around you is more important than even having the right idea or the right kind of resources.

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Don't Give Up

Lasting success comes with time and perseverance.

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Goals Keep Getting Bigger

Your goals will just keep getting bigger and bigger. Don't stop, don't settle and keep achieving.

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Achievement is Fickle

Achieving Goals does not give any lasting happiness, just a temporary satisfaction.

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Anxiety Is a Constant Companion

Anxiety and Fear are not situational and occasional but can be a constant state of mind.

Learn to cope with them.

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Meditation With Your Fear

Instead of escaping or shying away from your fears using TV or alcohol, you can sit with your fears in meditation.

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Don't Try To Attract People

Instead of trying to attract people towards you, just be naturally vulnerable and curious.

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Lasting Happiness

Lasting happiness comes from gratitude, connecting with other people and liberation from your self-tortured striving.

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Two of the biggest innovations

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Two of the biggest innovations of modern times are cars and airplanes. At first, every new invention looks like a toy. It takes decades for people to realise the potential of it.

Innovation is driven by incentives

There are three types of incentives:

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During World War II, there was a burst of scientific progress that took place. The government was in effect saying that if a discovery had any possible war value, then it had to be developed and put in use, regardless of the expense.

The conditions for big innovations to happen

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In 1932, the stock market fell by 89%. It was an economic disaster where almost a quarter of Americans were out of work. However, the 1930s was also the most productive and technologically progressive decade in history. Economist Alex Field writes that in 1941, the U.S. economy produced almost 40 percent more output than it had in 1929, with little increase in labor hours or private-sector capital input.

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Three different sides of risk

  • The odds you will get hit.
  • The average consequences of getting hit.
  • The tail-end consequences of getting hit.

The first two are...

The tail-end consequences

The tail-end consequences of an action or event (those with low-probability, high-impact) are all that matter.

In investing, the average consequences of risk make up most of the daily news headlines. But the tail-end consequences of risk (for example, pandemics and depressions) are what make the pages of history books.