Golden Rules for Entrepreneurs: Get Good and Rich at the Same Time


Chamath said that when he was working with Facebook, their product was often compared to MySpace which was doing well then but over the period of time Facebook picked up pace and he says the reason is just because they did not conflate luck and skill as it believed in the product and waited for the right time to take off.

Rule Two: Fire Fast, Hire Slow

Recently, few companies have been in a firing spree and this grabbed much attention from people for various reasons. It makes people think that those startup entrepreneurs are ruthless and are capable of firing innocent employees fast but the actual fact is that if an employee is fired it might be due to various reasons and he might not be a well fit for that role but may be for another role in a different company. “At Facebook, none of the top ten engineers had completed graduation, three members had dropped out from college and one worked with the Department of Motor Vehicle,” says Chamath who has a wide knowledge on Facebook and its functioning.