![]() ![]() "It's basically taking down the usual barriers to risk-taking, right?" said Dickerson.1-Page Summary 1-Page Book Summary of Blitzscaling "Essentially, your future customers are the ones than matter, and if you need to be able to get your product to market and be learning from your customers and learning how to iterate it, launching a product that embarrasses you – obviously embarrassment is not something you deeply desire, but it's a way of prioritizing speed, engaging with your customer, learning from them, and being the first that's in that learning curve, in terms of getting to scale." "There's a lot of companies that have done this," Hoffman said. "'First prize a Cadillac, second prize steak knifes, third prize you're fired.' So, it really matters to establish these companies on a global footprint as fast as possible." "We're now in this place for what we call 'Glengarry Glen Ross' markets," he said, referencing David Mamet's Pulitzer Prize-winning play about real estate salesmen. Hoffman said establishing supremacy on a global scale is imperative for companies' survival today. ![]() Look at Airbnb, Uber, a lot of these companies that ten years ago were ideas on the back of napkins, tiny, and now are global, transformational companies." Silicon Valley investor Reid Hoffman, co-author of "Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies." The reason why a small company would want speed over efficiency, he told "CBS This Morning" on Monday, is that, "This is the modern way you build massive companies. He interviewed hundreds of entrepreneurs from companies like Facebook, Netflix and Airbnb for his new book, and describes "blitzscaling" as "prioritizing speed over efficiency" when building a company. He is also a partner at the venture capital firm Greylock. Hoffman was an early investor in Facebook and is a co-founder of Linkedin. "Sometimes the biggest risk is not taking risk," said Reid Hoffman, one of Silicon Valley's most high-profile investors, and co-author (with Chris Yeh) of a new book called "Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies" (Currency). ![]()
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