Failure is an option here. If things are not failing, you are not innovating enough. It is a mistake to hire huge numbers of people to get a complicated job done. Numbers will never compensate for talent in getting the right answer (two people who don’t know something are no better than one), will tend to slow down progress, and will make the task incredibly expensive. You have to be pretty driven to make it happen. Otherwise, you will just make yourself miserable. Work like hell. I mean you just have to put in 80 to 100 hour weeks every week. [This] improves the odds of success. If other people are putting in 40 hour work weeks and you’re putting in 100 hour work weeks, then even if you’re doing the same thing you know that… you will achieve in 4 months what it takes them a year to achieve. If you go back a few hundred years, what we take for granted today would seem like magic – being able to talk to people over long distances, to transmit images, flying, accessing vast amounts of data like an oracle. These are all things that would have been considered magic a few hundred years ago. People work better when they know what the goal is and why. It is important that people look forward to coming to work in the morning and enjoy working. My biggest mistake is probably weighing too much on someone’s talent and not someone’s personality. I think it matters whether someone has a good heart. Let’s think beyond the normal stuff and have an environment where that sort of thinking is encouraged and rewarded and where it’s okay to fail as well. Really, the only thing that makes sense is to strive for greater collective enlightenment. Patience is a virtue, and I’m learning patience. It’s a tough lesson. When I was in college, I wanted to be involved in things that would change the world. Now I am. If something is important enough, even if the odds are against you, you should still do it. If you’re trying to create a company, it’s like baking a cake. You have to have all the ingredients in the right proportion. I think it’s very important to have a feedback loop, where you’re constantly thinking about what you’ve done and how you could be doing it better. I think t’s the single best piece of advice constantly think about how you could be doing things better and questioning yourself. I wouldn’t say I have a lack of fear. In fact, I’d like my fear emotion to be less because it’s very distracting and fries my nervous system. My motivation for all my companies has been to be involved in something that I thought would have a significant impact on the world. Life is too short for long-term grudges. You shouldn’t do things differently just because they’re different. They need to be… better. I think life on Earth must be about more than just solving problems… It’s got to be something inspiring, even if it is vicarious. As a child I would just question things… Don’t be afraid of new arenas. I think it is possible for ordinary people to choose to be extraordinary. Going from PayPal, I thought ‘Well, what are some of the other problems that are likely to most affect the future of humanity?’ Not from the perspective, ‘What’s the best way to make money? I could either watch it happen or be a part of it. Being an Entrepreneur is like eating glass and staring into the abyss of death. I would like to die on Mars. Just not on impact. The Hitchhiker’s Guide to the Galaxy. It taught me that the tough thing is figuring out what questions to ask, but that once you do that, the rest is really easy. The first step is to establish that something is possible; then probability will occur. You want to be extra rigorous about making the best possible thing you can. Find everything that’s wrong with it and fix it. Seek negative feedback, particularly from friends.In Hindi It’s OK to have your eggs in one basket as long as you control what happens to that basket. Persistence is very important. You should not give up unless you are forced to give up. Starting and growing a business is as much about the innovation, drive and determination of the people who do it as it is about the product they sell. You want to have a future where you’re expecting things to be better, not one where you’re expecting things to be worse.
Thoughts to Inspire Success in Your Life and Business