a
10+1 Lessons from Serial Entrepreneur Justin Kan
@ a16z
05/17/19
Takeaways
JK
Justin Kan
05/17/19
@ a16z
I've been an internet entrepreneur for the last 14 years since 2005, starting with Kiko, a calendar service that launched just before Google Calendar.
JK
Justin Kan
05/17/19
@ a16z
Kiko didn't succeed, and we ended up fire-selling it on eBay after several failed acquisition attempts.
JK
Justin Kan
05/17/19
@ a16z
After Kiko, we launched Justin.tv, a live streaming platform where I wore a camera on my head to broadcast my life.
JK
Justin Kan
05/17/19
@ a16z
The idea for Justin.tv came from the realization that people were interested in what I was doing, even if I wasn't entertaining.
JK
Justin Kan
05/17/19
@ a16z
We pivoted Justin.tv into Twitch, focusing on video game streaming, which eventually sold to Amazon for $970 million in 2014.
JK
Justin Kan
05/17/19
@ a16z
I started Atrium, a technology-enabled law firm for startups, to solve the legal challenges I faced as an entrepreneur.
JK
Justin Kan
05/17/19
@ a16z
As a repeat entrepreneur, I find that while I can raise more money and attract talent, there are also many distractions that pull my attention.
JK
Justin Kan
05/17/19
@ a16z
The paradox of choice can be a huge problem for successful entrepreneurs, as there are many opportunities but limited focus.
JK
Justin Kan
05/17/19
@ a16z
In my experience, B2B startups focus more on execution risk, while B2C startups often deal with market risk.
JK
Justin Kan
05/17/19
@ a16z
I believe that raising a lot of money isn't always the best strategy; it can lead to overspending and failure, as seen with many companies in Silicon Valley.
JK
Justin Kan
05/17/19
@ a16z
For Atrium, I chose to raise money quickly to ensure we could establish ourselves in the legal market, which requires trust and stability.
JK
Justin Kan
05/17/19
@ a16z
I started using a daily gratitude journal to help manage stress and recontextualize the ups and downs of entrepreneurship.
JK
Justin Kan
05/17/19
@ a16z
Switching to a ketogenic diet has helped me avoid the afternoon slump and maintain energy throughout the day.
JK
Justin Kan
05/17/19
@ a16z
Meditation, particularly Transcendental Meditation, has significantly improved my presence and focus in daily life.
JK
Justin Kan
05/17/19
@ a16z
I've realized that my attachment to the outcome of my companies was unhealthy, intertwining my identity with their success or failure.
JK
Justin Kan
05/17/19
@ a16z
No matter what happens with my company, I'm not going to be any happier or less happy in the long run; relying on external factors for happiness leads to disappointment.
JK
Justin Kan
05/17/19
@ a16z
I now prioritize building a company culture that emphasizes empathy, collaboration, and a sense of internal control among team members.
JK
Justin Kan
05/17/19
@ a16z
I've learned that the culture of a company is crucial; it can either support or hinder execution, and I neglected it in the early days of Atrium.
JK
Justin Kan
05/17/19
@ a16z
The book 'The 15 Commitments of Conscious Leadership' has influenced my approach to creating a company that fosters radical responsibility and internal happiness.
JK
Justin Kan
05/17/19
@ a16z
I believe that self-improvement is essential for entrepreneurs; it's important to work on personal growth alongside business development.
JK
Justin Kan
05/17/19
@ a16z
Things take time in entrepreneurship; success is often a long journey rather than an overnight achievement, and patience is key.
JK
Justin Kan
05/17/19
@ a16z
The best entrepreneurs are those who stick with their vision for decades, creating lasting companies and value, rather than constantly chasing new trends.