The 70-20-10 resource allocation strategy is used by Coinbase to ensure a portfolio of products with new revenue streams. This enables companies to avoid becoming complacent and losing talent, constantly working towards a next act and a dynamic growth strategy.
In this podcast, the host discusses the principle of scarcity and explains how it can be used to enhance creativity. Additionally, the importance of asking the right questions and learning to prioritize tasks is also highlighted.
The guest talks about how they are reinvesting their profits into new technologies to amplify their impact on longevity research, and has invested in 20 companies so far.
Building a company with a massive impact such as Tesla or Stripe is possible, but requires a significant margin of error, immense stress and a considerable cost to personal life, according to Jason Calacanis. He adds that achieving balance could be a way to create a company potentially worth hundreds of millions of dollars, without having to make too many sacrifices.
The field of biology is transitioning into engineering with the discovery that skin cells can be turned back into stem cells by exposing them to certain transcription factors, providing tools to do unique things with the ability to direct atoms, not just bits.
As a startup leader, building a narrative is a crucial skill to keep your team motivated and focused, even during times of ambiguity and uncertainty. Playing out different best and worst-case scenarios can also help prepare for potential outcomes.