Slack for Senior Care with Michael Walsh

TSP031 | Mike Edelhart – Hunting beyond the Unicorn

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Listen To The Podcast Here

Episode Summary

Mike Edelhart is the lead partner for the Social Starts moment-of-inception investment fund and CEO of the Tomorrow Project.

Key Takeaways

- 02:30 – How did Mike become an angel investor?
- 07:40 – The team is incredibly important. This can not be emphasized enough.
- 10:00 – Mike believes a good team understands clearly what the company’s mission is.
- 11:46 – Great teams follow their leader with discipline, but not with rigidity.
- 13:25 – Becoming a unicorn is an outcome, not a cause.
- 14:40 – Having the desire to become an entrepreneur isn’t normal.
- 17:00 – Leaders who believe in themselves, their team, and can remain calm when everything goes wrong instills confidence in their team.
- 18:20 – How did Pinterest get started?
- 24:55 – Why did Mike and his team invest in Pinterest in the beginning?
- 27:45 – Entrepreneurs make the common mistake in thinking all investors are the same and they don’t do their homework.
- 30:00 – Mike talks about the rabbit archetype in business.
- 30:50 – Mike breaks down the tortoise archetype.
- 32:45 – What’s the idea behind the bear archetype?
- 36:15 – The final power animal in business is the hawk. Mike explains further.
- 40:00 – Mike recommends the book Extraordinary Popular Delusions and The Madness of Crowds

Tweetables

[Tweet “Entrepreneurship is a socially accepted form of mania”]
[Tweet “What you think is true will probably not turn out to be true”]
[Tweet “Clarity is key trait to get funding”]
[Tweet “Be obsessive about your customers”]