EP #30 Venture Capital in 2023 w/ Dakin Sloss

Moonshots and Mindsets with Peter Diamandis
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Podcast Notes Key Takeaways Building something meaningful will be a decade-long process; you might as well build something that is going to meaningfully make people’s lives betterThe power law of returns describes how the minority of companies you invest in will deliver the majority of your returnsIf you are a technical founder, the number one mistake you can make when approaching VCs is to only talk about the technology and not the customerDo not create technologies and then look for problems that they can solve; identify problems and create technologies to solve them Understand that many of the letters and names in venture capital are made up; do not get too stuck on any of the letters or namesUnderstand what matters to the audience that you are presenting to It is better to make micro-pivots that add up to a larger pivot in aggregate than having to make a single massive pivot at onceThe desire to grow personally and contribute to the world will endlessly fuel a person Successful founders are unwilling to accept “no” for their long-term mission but are willing to make micro-adjustments along the way when presented with new informationGreat entrepreneurs fail constantly, and their failures become learnings and fuel rather than fatal injuries Equating failures with growth is a mindset that breeds long-term successConsider the scope of the problem you are trying to solve if you are a first-time founder
Consider attacking a smaller niche within an area that interests you if you are a first-time founder

Read the full notes @ podcastnotes.org

In this episode, Dakin and Peter discuss tips for new entrepreneurs, how to build a successful company and the power of venture capital for the economy.

You will learn about:

04:37 | The story of Prime Movers Lab
22:25 | The 'do's & don'ts' for new entrepreneurs.
35:47 | Ambitious Vs. Conservative: creating balance for your company.

Dakin Sloss is a venture capitalist, founder, entrepreneur, and philanthropist. He is the founder and General Partner of Prime Movers Lab, a VC startup that’s become the world’s leading partner in breakthrough scientific startups.

Learn more about Prime Movers Lab.

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