Founders should own the company’s biggest problem

Transcript

Transcribed by machine (Whisper) from the episode’s audio, so a word may be off here and there.

1. 20:39

   Generally, there needs to be at least one founder in any of these big media problems that we need to get right. I really strongly, like I affirmatively strongly believe in that. And so is there one of you that's a DRI on these big hairy issues? Okay. Like the responsibility, the person that is going to get grilled is one of Luan and I on these top issues, these things that we need to get right. And I cannot, and I may be wrong, and I may be over time as the company gets more mature, I may change.

2. 21:07

   So maybe in a few years, we should have another chat and see what I think. But in this sort of level, like this growth phase and all that, like, my analogy to this is a bit, and I think honestly, this applies to any company at any scale. I really, really think so. it's like you're like on this big ship and you're driving you know the ship as fast as you can you're trying to win this but there's always a hole in the ship and that hole is leaking there's water coming out of it and i think there's two types of organizations one where the ceo or the founders are straight up staring at the hole all day every day which is brutal it's painful it's like that was me yeah it's you right i think you talked about that you know and and the other type of organization that like sort of either gives it to someone yes and generally that what that someone

3. 21:54

   is going to do it's very painful why would they why would they take through all that pain i mean you know how painful it is right it's constant pain it's like it's essentially like continuous torture right so they add like a rug on top of the hole you know and like you know like we're good you know things are growing and but inevitably that hole at some point is going to start sinking the ship inevitably and whether this is your google and ai is coming after you or you know your AI and like 90% of America hates you or like, you know what I mean?

4. 22:22

   What's your hole now? What hole have you got? I think in January, what I would say our big hole is like, we need to differentiate ourselves with the unregulated stuff and the insider trading issue. Because you've always taken it seriously, but like, you know, you poll people and they had no idea, they have no idea of the difference, you know, like the regulated onshore prediction markets like Cash and Robinhood and others, and some like Polly and others that are doing it offshore.

5. 22:41

   And that was really bad for the industry. So, so we had this, we had to kind of, kind of like clean up the industry's reputation and I would say we've made a significant amount of progress, but that hole is not fully covered yet. Like we still have work to do in terms of like explaining that, like, look, there is the right solution to all these things is get it regulated, do it the right way. and there are people doing it the right way and here's how like with all things right there's a right solution for ai's you don't decelerate ai you you you add the right guardrails and i think figuring out what those guardrails are and figure out how to communicate it effectively and figure out why they're the right ones is the hole and um that's where i spend pretty much like 80 percent of my time in right now okay the hole is an interesting spot in your competitor has been