10,000 Hours with Reid Hoffman: What I Learned ( A quick Summary )
Ever heard of shadow powers?
They're people closest to the most powerful people in the world - Presidents, Billionaires, and Celebrities. Shadow powers spend years with these high performing individuals, learn tons of stuff, and yet are rarely known outside their own circles.
Ben Casnocha was Reid Hoffman's shadow, for close to 2 years. And you better believe he was powerful. I spent last night reading this amazing article Ben wrote, sharing all he learned from Reid. I've just recently started taking notes on what I read and thought I'd share my notes on the article. Here we go ...
1) Tradeoffs
Every Decision has Tradeoffs. When you choose 1 thing. You choose not to do some other thing.
Think about the number of choices Reid has. When he chooses to do attend 1 conference, he ignores hundreds of others. We don't face so many complex choices but it's interesting to remind ourselves time and again - when we choose Netflix, we choose not to work on something, or when you chose to read this post, you also chose not to spend the next 15 minutes browsing Instagram.
2) False Choices
Should entrepreneurs set plans or be ready to adapt? False Choices. The answer is - Both.
Should you have a small number of intimate friends or a large number of looser ties. Again, false choices. You need both.
3) People are complicated. Root for their better angels.
Reid Hoffman is widely known as the ultimate connector. He understands the full spectrum of strengths and weaknesses of a person. Flaws that cause us to disengage are navigable to Reid.
4) The best way to get powerful people's attention - offer to help them
"I reviewed thousands of requests for Reid's time/attention/money. It was stunning how few offered to help him."
Most people think there's no way to help Bill Gates or Reid Hoffman. But what Bill or Reid craves is information. A unique perspective. An insight into something happening in your corner of the universe. They can't buy that off the shelf.
Help first. It's key to building relationships - even with the most powerful people.
5) Keep it simple and move fast When faced with a set of options
Reid Hoffman will frequently make a provisional decision instinctually based on current information. Then he will note what additional information he would need to disprove his decision.
The key for startups is moving fast. On the other hand, big companies like LinkedIn are not to pursue speed. Instead, they need to devise strategies where their slowness can become a strength.
6) Simplicity
When there's a complex list of pros and cons for a decision, Reid seeks a single decisive reason.
There should be 1 strong reason to do something. When you come up with a list of many reasons, it is usually you trying to convince yourself.
7) Empowerment
How do you know you have A-players on your team?
You know if they don't just accept the strategy you handed them.
8) Every weakness has a corresponding strength.
If you try to mitigate a weakness, you might also eliminate the corresponding strength.
Example - unorganized ( weakness) -> creative ( corresponding strength)
9) Values that shape a culture has both upside and downside
Example - In the early days PayPal had the culture of "let the best ideas win"
Upside - Analytic rigor tends to produce better ideas
Downside - Confrontational culture undermines collaboration. A harder place for experienced people to work.
10) Reason is the steering wheel. Emotion is the gas pedal
You need emotions to be decisive. But that needs to be directed in the right direction.
11) Trade up on trust. Even if it means you trade down on competency.
Should you start a company with friends? All things being equal, Reid says yes. Because you can move quickly.
( Friends + fast learner ) > ( qualified + stranger )
12) Make people partners. They'll work harder.
Give Equity
Share the Co-founder title
Be generous
13) People you spend the most time with will change you in ways you cannot anticipate.
The most important choice of all is who you choose to surround yourself with.
