0:00
hey there so you're diving into Peter
0:02
Teal's 0 to1 yeah a book that's
0:05
practically a Bible for Silicon Valley
0:07
startups it's packed with advice from
0:10
teal himself drawing on his experience
0:13
building companies like PayPal and paler
0:16
right in this deep dive we're going
0:18
beyond the usual Business book summary
0:20
okay we're extracting those golden
0:22
nuggets the ideas that'll really shift
0:25
your thinking about Innovation and maybe
0:27
even spark some ideas of your own right
0:30
right off the bat teal throws down a
0:31
challenge okay what does real progress
0:34
actually look like it's fascinating how
0:36
he breaks it down he talks about
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horizontal progress okay which is
0:40
basically copying what already Works
0:43
picture a 100 identical typewriters yeah
0:46
useful yeah but not exactly pushing
0:49
boundaries okay so 100 typewriters is
0:51
more the same right but what about going
0:54
from a typewriter to say the first word
0:56
processor that feels different a much
0:59
bigger Leap Forward exactly that's what
1:01
Theo calls vertical progress going from
1:03
zero to one creating something truly new
1:07
and here's the thing in a world obsessed
1:10
with best practices yeah and playing it
1:12
safe right teal wants us to aim for
1:15
vertical progress to break free from the
1:17
pack and create something truly unique
1:20
that's a powerful thought especially for
1:22
anyone feeling stuck in the Rut of how
1:25
it's always been done it's like what if
1:27
instead of just following the well-worn
1:29
path right we blazed our own trail and
1:32
teal takes this idea even further
1:34
applying it to how we view globalization
1:36
you might think globalization is all
1:38
about groundbreaking Innovation right
1:40
but teal argues it's mostly horizontal
1:43
think of China rapidly adopting
1:45
technologies that were already
1:47
established in the west it's spreading
1:49
existing ideas which is important but
1:51
it's not the same as creating the
1:53
internet for example which totally
1:55
reshaped the world right so are we
1:57
missing out on those gamechanging zero
1:59
to one moments yeah that's a good
2:01
question now teal was right in the thick
2:02
of the boom and bust oh and he came away
2:06
with some lessons that might surprise
2:08
you everyone remembers the dotc Mania of
2:11
the late 90s right oh absolutely it was
2:14
a time of incredible excitement but also
2:16
a lot of hype right and when the bubble
2:18
burst it left many people wary of taking
2:21
big risks it makes sense teal actually
2:23
thinks that post.com Silicon Valley
2:26
became too cautious it's like everyone
2:28
learned the wrong lesson right instead
2:30
of focusing on what went wrong with bad
2:32
ideas they shied away from Bold ideas
2:34
altogether you can almost picture theal
2:36
shaking his head urging people to be
2:39
bolder exactly teal argues that instead
2:42
of focusing on incremental improvements
2:45
right we need to think bigger to create
2:47
entirely new markets he believes that
2:50
real value comes from those zero to one
2:52
leaps not just refining what already
2:54
exists it's a difference between playing
2:56
it safe and Swinging for the fences so
2:59
how do we break out of this incremental
3:01
mindset and start swinging for those
3:02
gamechanging Innovations well this is
3:05
where Teal's take on competition gets
3:06
really interesting he compares the
3:08
traditional model of perfect competition
3:11
okay to the idea of building a monopoly
3:14
okay now we're talking monopolies yeah
3:15
isn't that usually seen as a bad thing
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it is but theal flips the script okay
3:20
think about it in perfect competition
3:23
everyone's selling the same thing like a
3:25
farmer market flooded with apple vendors
3:27
right the only way to compete is by
3:29
lowering prices which leads to razor
3:32
thin profits so you're in this constant
3:34
race to the bottom no just trying to
3:36
stay afloat no one's really winning in
3:38
that scenario exactly but a monopoly by
3:41
contrast has pricing power because they
3:44
offer something truly unique they don't
3:46
have to engage in that constant
3:48
Cutthroat competition right now before
3:50
you think teal is advocating for
3:51
unethical monopolies right let's be
3:53
clear he's not talking about stifling
3:56
competition through Shady tactics he's
3:58
not talking about price gouging crushing
4:00
smaller companies just to be a bully so
4:02
what kind of monopolies is he talking
4:04
about he's talking about companies that
4:06
solve problems so well so uniquely yeah
4:11
that they create their own category they
4:14
become the go-to solution because they
4:16
offer something so valuable that
4:18
competition becomes almost irrelevant he
4:21
uses a great example in the book the
4:24
airline industry versus Google Airlines
4:27
create a ton of value MH by connecting
4:30
people across the world but their
4:32
profits are often slim right because
4:35
they're always competing with each other
4:36
on price right Google on the other hand
4:39
created something so unique and valuable
4:42
with their search engine yeah that they
4:43
essentially built their own category and
4:45
that allows them to capture more of the
4:48
value they create Teal's point is that
4:50
truly great companies aren't focused on
4:52
simply outmaneuvering the competition
4:54
they're focused on building something so
4:56
good that competition becomes an
4:58
afterthought they're playing a different
5:00
game altogether I love that it's not
5:02
about winning the existing game it's
5:03
about creating a whole new game that you
5:06
can Dominate and that leads us to one of
5:09
Teal's most thought-provoking arguments
5:12
that our obsession with competition
5:14
itself might be holding us back think
5:17
about it we're taught to compete from a
5:19
young age in school in sports for jobs
5:23
it's ingrained in our culture right but
5:25
is that always a good thing teal argues
5:28
that this constant focus on competition
5:30
can distract us from what really matters
5:33
okay creating something truly new and
5:35
valuable we become so focused on beating
5:38
the person next to us right that we lose
5:40
sight of the bigger picture that's a
5:42
really interesting point it's like we're
5:43
so busy trying to win the rat race that
5:45
we forget to ask if we even want to be
5:47
in the race in the first place maybe
5:49
instead of just trying to be better than
5:50
everyone else we should be focusing on
5:52
being different exactly I'm creating
5:54
something completely new and that's
5:56
where the idea of Secrets comes in Theo
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believes that truly great companies are
6:00
often built on Secrets unique insights
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that others haven't discovered yet okay
6:05
now this sounds intriguing Secrets yeah
6:07
like some kind of hidden knowledge he
6:09
uses a rather controversial example to
6:11
illustrate this point the
6:14
Unabomber now before you get alarmed
6:16
right heal's point is obviously not to
6:19
endorse the anab bomber's actions right
6:21
let's be clear about that his point is
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that even someone as Twisted as the
6:25
Unabomber could have a grasp of certain
6:28
truths that most people miss the
6:31
Unabomber Manifesto while deeply
6:33
disturbing also revealed a surprisingly
6:35
insightful understanding of human needs
6:38
and goals so are you saying that there
6:39
are still important truths Secrets out
6:43
there waiting to be uncovered exactly
6:45
the's argument is that if we're willing
6:47
to look for them there are still
6:48
Uncharted territories on the map of
6:50
human knowledge yeah and those who dare
6:53
to explore those areas could potentially
6:55
make groundbreaking discoveries like
6:57
there's still a frontier out there and
6:59
the who are willing to venture into the
7:01
unknown are the ones who will find the
7:03
real treasures and once you've got that
7:05
secret and that groundbreaking Insight
7:06
yeah the next step is to build a strong
7:08
foundation for your company and for teal
7:11
that starts with the people he places a
7:14
huge emphasis on choosing the right
7:15
co-founders yeah he even compares it to
7:17
getting married it's about finding
7:20
people who not only share your vision
7:23
but who you can trust and work with
7:25
effectively for years to come it's a
7:27
long-term commitment that's for sure and
7:29
it's it's not just about getting along
7:31
teal also stresses the importance of
7:34
clearly defining ownership okay
7:36
possession and control within the
7:38
company from the get-go so making sure
7:41
everyone is clear on who owns what who's
7:43
making the day-to-day decisions and who
7:45
have the final say it sounds like laying
7:48
the groundwork to avoid conflicts down
7:50
the road exactly especially as the
7:52
company grows speaking of growth the has
7:55
something to say about a very common
7:57
Silicon Valley myth oh if you bu bu it
7:59
they will come oh I've heard that one
8:01
before but teal doesn't buy it does he
8:03
not one bit he's adamant that sales and
8:06
distribution are absolutely crucial
8:08
really even if you have the most amazing
8:09
product in the world so you can't just
8:10
sit back and wait for the customers to
8:15
strategy to get your product in front of
8:20
people teal emphasizes understanding
8:23
customer lifetime value how much a
8:25
customer is worth to your business over
8:26
the long term right and customer
8:29
acquisition cost got it how much it
8:31
costs you to acquire a new customer it
8:33
makes sense you need to make sure you're
8:35
not spending more money to acquire
8:37
customers than you're making from them
8:40
and this applies to anything really yeah
8:42
it's about understanding how to get your
8:44
ideas yeah your work your value out into
8:46
the world absolutely now let's shift
8:49
gears for a moment and talk about
8:50
something that's on everyone's Minds
8:51
these days technology okay specifically
8:54
artificial intelligence and automation
8:57
will robots take our jobs it's a
8:59
question a lot of people are asking it
9:01
could be a little unnerving to think
9:02
about honestly teal actually offers a
9:04
more nuanced perspective okay he sees
9:06
computers and AI as tools that can
9:08
complement human abilities not
9:10
necessarily replace us entirely more
9:12
like Partners than competitors exactly
9:14
computers are great at processing data
9:16
crunching numbers and doing repetitive
9:19
tasks humans on the other hand are
9:22
better at creativity right critical
9:24
thinking and complex decision making
9:27
it's like each side brings different
9:29
strength to the table he gives the
9:31
example of PayPal's fraud detection
9:33
system okay it combines sophisticated
9:35
algorithms with human review oh
9:37
interesting the algorithms could flag
9:39
suspicious transactions but it was
9:41
ultimately up to humans to make the
9:43
final judgment call so instead of
9:45
fearing AI we should be thinking about
9:47
how we can work with it yeah leverage it
9:49
to augment our own capabilities now are
9:52
you ready for a cautionary tail okay Bri
9:54
in teal uses the clean tech boom and
9:57
bust of the early 2000s as a case study
10:00
and what not to do when building a
10:01
company interesting remember all those
10:03
clean tech startups that were going to
10:05
save the planet it was a time of great
10:06
hope and optimism for sure but a lot of
10:09
those companies unfortunately didn't
10:11
succeed and teal points to some key
10:13
reasons why first your product needs to
10:15
be significantly better than the
10:17
competition okay he says 10 times better
10:20
wow not just incrementally better you
10:22
have to offer a truly compelling reason
10:24
for people to switch from what they're
10:26
already using second timing matters is
10:29
the market ready for your Innovation are
10:31
you too early a lot of clean tech
10:33
companies were ahead of their time it's
10:35
a tough balance right you don't want to
10:37
miss the boat but you also don't want to
10:39
be so far ahead that no one is ready for
10:43
what you're offering and third don't
10:45
underestimate the importance of
10:46
distribution and a clear plan for the
10:48
future a lot of clean tech companies
10:51
struggled to get their products into the
10:52
hands of customers so they may have had
10:54
the technology right but they didn't
10:57
have the business side figured out and
10:59
yet amidst all the clean tech failures
11:01
there was one standout success okay
11:03
who's that Tesla oh okay teal highlights
11:06
Tesla as a company that got it right
11:08
interesting they had a superior product
11:10
they entered the market at the right
11:12
time and they had a brilliant founder
11:14
with a Clear Vision for the future it's
11:17
proof that even in a challenging
11:18
industry like clean tech it is possible
11:21
to build a wildly successful company yes
11:23
if you follow those key principles and
11:25
finally to wrap up this first part of
11:27
our Deep dive let's talk about what Teal
11:29
calls the founders Paradox what makes a
11:32
successful founder the believes they're
11:36
Outsiders people who don't quite fit in
11:38
with the mainstream people who see the
11:40
world a little differently yeah who
11:42
question the status quo they have a
11:44
unique perspective yeah a willingness to
11:46
challenge conventions and an ability to
11:49
spot opportunities that others Miss but
11:52
here's the Paradox that very quality
11:55
that makes them successful can also make
11:57
them targets when things go wrong so
11:59
they're celebrated for their Vision when
12:01
things are going well mhm but they're
12:03
often the first to be blamed When Things
12:04
Fall Apart it's a double-edged sword and
12:07
te challenges us to embrace this Paradox
12:09
to be both different and effective to
12:12
stand out from the crowd while still
12:13
building something truly impactful
12:15
that's a great place to pause for now
12:18
we've covered a lot of ground already
12:19
from the nature of progress to the
12:21
founders Paradox but we're just getting
12:23
started stick with us as we continue to
12:25
unpack the key insights from 0 to one
12:31
welcome back we're continuing our deep
12:33
dives into Peter teal 0 to1 and in this
12:36
part we're going to get even more
12:37
tactical okay focusing on how you can
12:40
actually apply Teal's ideas to your own
12:42
work in life sounds good that's right
12:45
we've talked about the importance of
12:47
thinking big of aiming for vertical
12:49
progress of challenging the status quo
12:52
but how do you actually translate those
12:54
ideas into concrete actions well teal
12:56
has a lot to say about that one of the
12:59
key things he emphasizes is the
13:01
importance of building a strong
13:02
foundation for your company and a big
13:04
part of that is choosing the right
13:05
people he really hamers home the point
13:08
that picking your co-founders is one of
13:09
the most critical decisions you'll make
13:11
he actually Compares it to getting
13:13
married which might sound a little
13:15
dramatic but it makes sense you're going
13:17
to be spending countless hours together
13:20
facing challenges making tough
13:23
decisions it's essential to find people
13:26
who not only share your vision yeah but
13:28
who you can trust respect and work with
13:31
effectively for years to come it's about
13:33
compatibility for sure but it's also
13:36
about making sure everyone is on the
13:38
same page from the start right
13:40
absolutely and teal is very specific
13:42
about this he stresses the need to
13:45
clearly Define ownership possession and
13:47
control within the company from the
13:49
outset okay so who owns what right who's
13:51
making the day-to-day decisions who has
13:54
the ultimate Authority it's about
13:55
setting clear expectations and avoiding
13:58
potential conflicts down the road you
14:00
can imagine how things could get messy
14:02
if those lines aren't clearly drawn
14:03
exactly and speaking of avoiding
14:05
messiness Keel has some strong words for
14:07
a very common Silicon Valley myth oh
14:10
what's that if you build it they will
14:12
come I feel like I've heard that line in
14:13
a movie somewhere yeah probably it
14:15
sounds nice but is it realistic teal
14:18
would say absolutely not he is
14:21
incredibly clear that sales and
14:23
distribution are essential okay even if
14:25
you have the most incredible product in
14:26
the world you can't just sit back and
14:29
expect customers to magically find you
14:32
you have to go out there and make it
14:33
happen yeah but how do you do that
14:35
effectively especially when you're
14:36
starting out teal emphasizes the
14:38
importance of understanding two key
14:41
metrics all what are those customer
14:43
lifetime value okay and customer
14:45
acquisition cost okay let's break those
14:48
down customer lifetime value M that's
14:51
basically how much a customer is worth
14:53
to your business over the long term
14:55
exactly it takes into account how much
14:57
they spend how often they they buy okay
15:00
and how long they stay loyal to your
15:01
brand and customer acquisition cost is
15:04
how much it costs you to get each new
15:05
customer so you're looking at things
15:07
like marketing expenses sales efforts
15:09
that kind of thing precisely and the key
15:12
is to make sure your customer lifetime
15:14
value is significantly higher than your
15:16
customer acquisition cost okay you want
15:18
to be making more money from your
15:19
customers than you're spending to
15:21
acquire them it's a basic business sense
15:24
but it's easy to get caught up in
15:26
building a great product and forget
15:28
about the economics of actually getting
15:29
it into people's hands that's a trap a
15:31
lot of companies fall into yeah for sure
15:34
and it's not just about businesses
15:35
either think about any project you're
15:37
working on any skill you're trying to
15:39
develop it's not enough to just be good
15:42
right you have to be able to get your
15:44
work your talent your value out into the
15:45
world it's about understanding how to
15:47
Market yourself how to connect with your
15:49
audience how to build relationships
15:52
absolutely now let's switch gears and
15:54
talk about something that's on a lot of
15:55
people's minds these days what's that
15:57
the rise of artificial intellig
15:59
right and automation some people see
16:01
this as a threat yeah but teal actually
16:04
offers a more optimistic perspective
16:06
it's definitely a topic that Sparks a
16:08
lot of debate will robots take our jobs
16:11
is AI going to take over the world well
16:13
TLC's computers and AI as tools that can
16:17
complement human abilities okay not
16:20
necessarily replace them entirely so
16:22
partnership rather than a competition
16:24
exactly he points out that computers are
16:27
great at processing vast amounts of data
16:29
crunching numbers doing repetitive tasks
16:33
humans on the other hand excel at things
16:35
like creativity okay critical thinking
16:38
and making complex decisions so it's
16:40
about playing to each other's strengths
16:41
he uses a great example from his own
16:43
experience with PayPal they had a
16:45
sophisticated fraud detection system
16:48
okay that used algorithms to flag
16:50
suspicious transactions right but it was
16:52
still up to human operators to make the
16:55
final judgment call it's a powerful
16:57
example of how human intelligence and
16:59
artificial intelligence can work
17:01
together to create a more effective and
17:03
secure system right and it challenges us
17:06
to rethink the way we approach
17:08
technology instead of fearing AI maybe
17:11
we should be thinking about how we can
17:12
leverage its power to augment our own
17:14
capabilities it's about finding ways to
17:16
use technology to enhance our creativity
17:20
our problem solving abilities our
17:22
ability to make a positive impact on the
17:24
world now teal also uses the clean tech
17:27
boom and bust of the the early 2000s as
17:30
a cautionary tale highlighting some
17:32
common mistakes that entrepreneurs make
17:34
right it was a time of great excitement
17:36
about clean energy and sustainable
17:39
Technologies but a lot of those
17:41
companies unfortunately didn't succeed
17:44
what went wrong teal points to a few key
17:46
factors first he emphasizes the
17:48
importance of having a product that's
17:50
significantly better than the
17:51
competition okay he says 10 times better
17:54
wow not just incrementally better you
17:56
need to offer a truly compelling reason
17:58
reason for customers to switch from what
18:00
they're already using especially if it
18:02
involves changing habits or adopting new
18:04
technologies exactly and second timing
18:07
matters right is the market ready for
18:09
your Innovation are you too early a lot
18:11
of clean tech companies were ahead of
18:12
their time yeah the technology wasn't
18:14
quite there yet or the cost was too high
18:16
or consumer demand wasn't strong enough
18:19
it's like being a musician who releases
18:21
an album before anyone is ready to hear
18:25
music you might be brilliant but if the
18:27
audience isn't there it's not going to
18:29
work and third you can't underestimate
18:32
the importance of distribution and a
18:34
clear plan for the future right a lot of
18:36
clean tech companies struggled to get
18:38
their products into the hands of
18:39
customers they also lacked a clear
18:41
vision for how they were going to scale
18:44
their business and become profitable it
18:46
sounds like they were so focused on the
18:48
technology itself that they neglected
18:50
the business fundamentals and yet amidst
18:52
all the clean tech failures there was
18:54
one notable success story okay I think I
18:57
know who you're talking about Tesla yeah
18:59
teal points to Tesla as an example of a
19:01
company that got it right they had a
19:03
superior product they entered the market
19:06
at the right time and they had a
19:08
brilliant founder with a Clear Vision
19:10
for the future it's a reminder that even
19:12
in a challenging industry like clean
19:14
tech it's possible to build a wildly
19:17
successful company if you follow those
19:19
key principles now let's wrap up this
19:21
part of our Deep dive with one final
19:23
thought-provoking concept what's that
19:25
the founders Paradox what makes a
19:27
successful founder Theo believes they're
19:30
often Outsiders people who don't quite
19:32
fit in with the mainstream people who
19:34
see the world a little differently
19:36
exactly who questioned the status quo
19:38
they have a unique perspective a
19:40
willingness to challenge conventions and
19:42
an ability to spot opportunities that
19:44
others Miss but here's the Paradox okay
19:47
what is it that very quality that makes
19:49
them successful can also make them
19:52
targets when things go wrong so they're
19:54
celebrated for their Vision when things
19:56
are going well but they're often the
19:58
first to be blamed When Things Fall
20:00
Apart it's a double-edged sword and the
20:03
challenges us to embrace this Paradox
20:06
okay to be both different and effective
20:08
to stand out from the crowd while still
20:10
building something truly impactful and
20:13
with that we're going to take a quick
20:14
break but don't go anywhere because when
20:16
we come back we're going to explore what
20:18
all of this means for you and how you
20:20
can apply these powerful insights from 0
20:23
to one to your own life and
20:25
work all right we're back for the final
20:27
part of our Deep dive into 0 to one
20:29
we've covered a lot of ground yeah we
20:31
have exploring Peter Teal's insights on
20:33
everything from the nature of progress
20:35
to the importance of finding your own
20:37
unique path right but here's the big
20:40
question okay how does all of this apply
20:42
to you right what can you take away from
20:44
this book that will actually help you in
20:46
your own life and work well one of the
20:49
key takeaways for me is the power of
20:50
thinking big okay teal constantly
20:53
challenges us to question assumptions to
20:57
push beyond the limits of what we think
20:58
think is possible right he wants us to
21:00
aim for those zero to one moments those
21:04
leaps forward that create something
21:06
truly new and valuable it's easy to get
21:09
caught up in the day-to-day grind to
21:11
focus on incremental improvements and
21:13
just trying to keep up with everyone
21:14
else yeah but Tio reminds us that
21:16
there's so much more potential out there
21:18
it's about having the courage to ask
21:20
those big questions to pursue those
21:23
audacious ideas that might seem crazy at
21:25
first right remember every
21:27
groundbreaking interview ation started
21:29
as someone's seemingly Impossible Dream
21:32
and another big takeaway for me is the
21:34
importance of finding your own unique
21:36
path Peele talks about how competition
21:38
can sometimes distract us from creating
21:41
truly valuable things we get so focused
21:44
on beating the person next to us then we
21:46
forget to ask if we're even running in
21:48
the right direction he encourages us to
21:50
embrace the idea of the founders Paradox
21:53
right to be both different and effective
21:55
it's about finding your own unique
21:58
strengths own unique perspective and
22:00
using those to create something that
22:02
only you could create it's about not
22:03
being afraid to stand out from the crowd
22:05
to be a little bit weird yeah a little
22:08
bit unconventional yeah because those
22:10
are often the qualities that lead to
22:12
truly groundbreaking Innovations now I
22:14
know some of this might sound a bit
22:16
abstract so let's get a little more
22:17
practical okay what are some concrete
22:20
steps people can take to start applying
22:22
these ideas well one thing you can do is
22:23
start by identifying your secrets what
22:26
are those unique insights those pieces
22:29
of knowledge those experiences that you
22:30
have that others don't what problems are
22:33
you uniquely positioned to solve it
22:35
could be anything a passion you've had
22:37
since you were a kid a skill you've
22:39
honed over years of practice a
22:42
perspective that you've gained from your
22:43
unique life experiences and once you've
22:45
identified your secrets think about how
22:48
you can use them to create something
22:50
truly valuable maybe it's starting a
22:52
business writing a book launching a new
22:54
project or even just changing the way
22:56
you approach your work the key is to
22:58
think big okay to be bold and to be
23:02
relentlessly focused on creating value
23:05
and don't forget the importance of sales
23:07
and distribution it's not just about
23:09
having a great idea right it's about
23:11
getting that idea out into the world
23:13
connecting with the right people and
23:15
making sure your value is recognized
23:17
it's about building relationships
23:19
mastering the art of communication and
23:21
understanding how to effectively Market
23:23
yourself and your work absolutely and
23:25
remember this isn't just about startups
23:29
teals insights can be applied to any
23:30
area of Life your career your
23:32
relationships your personal growth it's
23:35
about having the courage to challenge
23:36
assumptions to think differently yeah to
23:39
create something truly meaningful it's
23:41
about leaving your mark on the world
23:43
about contributing something unique and
23:45
valuable that only you could contribute
23:48
so as we wrap up this deep dive into
23:50
zero to one we want to leave you with
23:52
one final thought okay what's your zero
23:54
to one what's that one thing that you're
23:56
uniquely equipped to create that no one
23:58
else can replicate it's out there
24:00
waiting for you to discover it and once
24:03
you do yeah don't be afraid to go for it
24:06
embrace the founders Paradox think big
24:09
be bold and create something
24:11
extraordinary thanks for joining us on
24:13
this deep dive we hope you found it
24:15
insightful and inspiring and remember
24:17
the journey from 0o to one starts with a
24:19
single step what will yours be