00:29:05 · Micky Malka, David Senra
[00:29:05] S1: From what sense? I think [00:29:06] S0: the founders moving forward, like, obviously, they're gonna be way more capital efficient. I think they're gonna own larger percentages of their companies because they're gonna need to to raise less money. Think I you used the analogy of one time if you go back and look at, like, some of the Robert Barons who owned, like, Henry Ford owned a 100% of his company. Yep. Some of them would go public and they'd own 70 or 80% of the company. Yeah. I'm just very curious, like, how you think they're gonna be building companies, again, a 21 or 22 year old compared to even like a 35 year old?
00:29:35 · Micky Malka
[00:29:35] S1: So the the first thing about this generation is they understand that if they play by the rules of of the game, they will not win. The rules of society right now. They will be stuck in student debt. They will be stuck in a in a bunch of problems that are... They've been watching this through YouTube. They've been reading about it on on social media. They've been seeing that we have a spun era of of Elon's, of innovation, of Edison people, mindsets that it's allowing the mind to really flow. And surprisingly, capital is right now historically levels of almost unlimited capital access. Especially if you're younger, there's even more capital than before. It's a perfect scenario for this generation to really create and take risk in ways that you cannot imagine. Funny enough, when you talk to them the most, you will find that a lot of them feel that working on software alone is boring. It's not fun. It's not challenging enough. They want to build physical objects. They want to touch materials. They want to get their hands dirty in building stuff that will actually matter and get to our hands one way or the other. Which is super interesting because that was not the generation of the last fifteen, twenty years. Everybody was trying to go capital light. Everybody was trying to build software only, and try to go through the cycles as fast as you can. This generation is not afraid of getting their hands dirty. So it's super interesting to see the behaviors. What's the difference? Why? I don't know. Like, maybe they just find that they grew up with a phone, they grew up with a tablet, they grew up with a computer, so it's not interesting enough to limit the world to just bits and bytes. Mhmm. But the more time I spend with them, the the biggest thing and the biggest question that I find asking them is... Because the oldest of this generation are probably 25, 26, the younger are 18. You ask them, what were you doing during COVID? And that is the most fascinating question. The most successful ones right now were the ones that during COVID were learning. And were on YouTube, sucking information about anything and learning about everything in life. So when they go and and build companies, they find that first they're naive, so anything's possible. Second, technology is there, so anything's possible.
00:31:59 · Micky Malka, David Senra
Third, if you're older, you got knowledge and you got wisdom, but you may not have the motivation. So he... They need to find out how to bring that from people. And so what you're starting to see is that the best ones are attracting some of the best older people to come join them because they feel that magnet. [00:32:20] S0: So the younger people are recruiting the older ones. [00:32:22] S1: Yes. And making them work in little hubs of two or three with two young ones. They're pairing them. Two 22 year old kids with somebody much later working in teams together. And that's where they're jelling between their knowledge of the new ways of operating systems with the knowledge that you need from twenty years of experience. [00:32:47] S0: If you play this out over the next five, ten years, aren't they gonna have a massive technical advantage too? Because me and you use AI a lot, but we have other stuff going on in our lives where they can live and breathe it 20 fourseven. [00:32:58] S1: Yes, and they will. And we just got what this year high school class, sorry, college class is the first one that actually went to college and had AI for four years. We just started. The senior class, the rising senior of college, it's the first class ever that probably used ChatGPT to write an essay to get to college.
00:32:58 · Micky Malka, David Senra
[00:32:58] S1: Yes, and they will. And we just got what this year high school class, sorry, college class is the first one that actually went to college and had AI for four years. We just started. The senior class, the rising senior of college, it's the first class ever that probably used ChatGPT to write an essay to get to college. [00:33:21] S0: I keep asking questions about these... The young people that you hang out with because I've had founders, like, literally in their mid thirties. And they're the technical leaders of their... These really successful companies. They're like, I don't know if I can do this anymore. I'm too old. Like, what do you think you're too old? You're 35 years old. They're like, yeah. They think I'm gonna get smoked by a 24 year old.
00:33:21 · David Senra, Micky Malka
[00:33:21] S0: I keep asking questions about these... The young people that you hang out with because I've had founders, like, literally in their mid thirties. And they're the technical leaders of their... These really successful companies. They're like, I don't know if I can do this anymore. I'm too old. Like, what do you think you're too old? You're 35 years old. They're like, yeah. They think I'm gonna get smoked by a 24 year old. [00:33:39] S1: I don't think you're too old, to be honest. And I don't feel old, I I feel I can I can I can still play the game? But you gotta understand that you gotta play a different game. You cannot keep playing the same game that you were playing in your twenties or in your thirties. You gotta understand that the way these dynamics work and what you can bring to them is very different. What can you bring to them? Wisdom. Knowledge, give them experiences, stuff that they don't understand. By the way, the best ones, they still lack and they have to refine its taste. They gotta be able to articulate how to build something beautiful. That's not easy. And it's something that we've lost in society, it's ability to build beautiful stuff. Silicon Valley has lost that ability a long time ago, and we have to bring it back. I'm hoping this generation is the one that spends time thinking how to deliver beautiful experiences. [00:34:29] S0: Say more about Silicon Valley losing the ability to build beautiful things.
00:34:29 · David Senra, Micky Malka
[00:34:29] S0: Say more about Silicon Valley losing the ability to build beautiful things. [00:34:32] S1: So if if you if you think about the last fifteen years, the incentive systems and every metric of success was wired on scale, grow, go bigger, have a more nuance, more work. But it wasn't about building beautiful products. We have when was the last time you bought something, a technology product that you loved? And you were like, wow, this is beautiful. [00:35:04] S0: I don't even wanna tell you it's embarrassing, the answer. It was a Dyson vacuum cleaner. [00:35:08] S1: That's great. But... And and by the way, Dyson comes up a lot when I ask this question. Also, the Airwrap. Yeah. Yes. [00:35:17] S0: If you have a daughter or any woman in the house, like, they're obsessed with Dyson's products. [00:35:22] S1: Somebody in your team here was showing us they still carry the iPhone The SE. Yeah. Right? The small iPhone. Why? Because it's beautiful. It was one of the first ones designed in a different way. So we have lost that ability. And because we have given a price and a reward for efficiency, algorithm, compounding of those things, and we have put aside how it makes you feel. In this world where technology is taking over a lot of our lives in the way we're going, more than any time in history, we're gonna need that feeling back again. How it makes you feel. And it's not just the brand with a TV commercial, that's the point I'm less worried about. It's more about what's authentic, what's beautifully designed, and what does it make you feel when you are around it.