Reid Hoffman: Live Life in Permanent Beta [Entire Talk]

Key ideas

Hoffman argues the career ladder is gone, so everyone should manage their life like an entrepreneur: intelligent risks, an edge, constant learning and jobs as tours of duty.

From a machine transcript of the audio. Quotes link to the moment they are said.

1. 1

   The career ladder no longer holds

   Hoffman says the path of good grades, a good university and a steady climb from apprentice to master no longer describes careers, because globalization and technology keep changing industries. He says this applies to students, mid-level professionals and executives alike. He calls for everyone to be the entrepreneur of their own life, which he says does not have to mean starting a company.

2. 2

   Take intelligent risks, including unseen ones

   Hoffman argues that playing it totally safe marginalizes you over time, but that risk is not a blind jump: look for manageable downside, possible upside and early signals, test the idea, talk to smart people and keep a fallback plan. He says a big risk can be one you do not notice: he finished his Oxford degree after deciding four months in that academia was not for him. He thinks that delay meant missing the moment the internet moved beyond academia.

3. 3

   Build an edge that is really different

   Hoffman says being a little better does not count as a competitive edge. He says he found he was only okay at user experience design at Apple's eWorld, so he asked the director of product management to critique product plans he would write, risking looking as if he was neglecting his job. He says that work helped him get a product manager job at Fujitsu, despite listings asking for five to seven years of experience.

4. 4

   Ship early and learn from failure

   Hoffman says his first company, SocialNet, took years and millions of dollars and sold for about return of capital, and that he was learning something new every week. He says starting a company differs from revving an existing product, so you should launch a minimum viable product rather than wait for perfection. He adds that relaying these lessons to Peter Thiel is part of why he was asked onto the board of what became PayPal.

5. 5

   Treat jobs as tours of duty

   Hoffman describes employment as a deal to accomplish something for the company and yourself, followed by another cycle, and argues this is not disloyalty and that employers should stop assuming good people stay forever. He says early-stage teams differ, since losing one of five people can be almost like a restart, so core members should intend to stay for years unless the thesis fails. Across any tour, he says, keep investing in your network and your learning.

In Reid’s words

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