Quote · My First Million
The most simplified breakdown of the SpaceX IPO on the internet
Where this was said
The genius insight of Luke at Gigafund
At 55:35 · chapter starts 51:11
Shaan celebrates hitting 300,000 Spotify subscribers before pivoting to the GigaFund story [1] — Shaan Puri "When Luke Nosek was at Founders Fund, he realized the optimal investment strategy was simply to back every Elon Musk company with everythin…" 51:15 . Sam connects the dots: Steve, an acquaintance from a HustleCon dinner at Shaan's office, co-founded Gigafund with Luke Nosek — a former Founders Fund partner. Shaan reads from an email written by someone at Founders Fund who witnessed Luke's decision: he simply concluded that the optimal investment strategy was to put everything into Elon companies and do nothing else. At the time, it sounded not just risky but embarrassingly unsophisticated. Shaan draws the broader lesson: the most powerful investment strategy is usually the simplest one. Bill Gates selling Microsoft stock, Chamath diversifying after Facebook, everyone who didn't just hold Google, Amazon, and Facebook from 2010 — all of them underperformed the dumb strategy of picking one horse and sitting still. Simplicity beats sophistication if you're right about the horse.
When Luke Nosek was at Founders Fund, he realized the optimal investment strategy was simply to back every Elon Musk company with everything he had. Everyone thought it was crazy and unsophisticated. It was the best trade in venture capital history.
