Matt Mochary: belief

Transcript context

…When I think about these ideas, I think of the NPE team at Facebook and I think it's called Area 21 at Google, which works on new ideas and I don't know if anything amazing has come out of those groups maybe, I don't know. But it feels like the missing piece, and you didn't mention this piece, is feeling like there's a huge upside if you get something. Like founders having equity of their company feels like such a motivator. I could become a billionaire if this works out, versus I'm helping my startup in some small incremental way. Is that an important piece or do you think it's not critical? I'm going to be radical here. I don't think it matters at all. I think that what really motivates people is building shit that gets used in the world. I think people will say, and they'll fight for equity and money, but in the end, that's not what actually motivates them. Because I've seen this work in companies where they don't have big equity, but they have autonomy, they have ownership, not equity ownership, ownership over decision making, ownership over creation. That's what I think people want. Amazon does this. They're not giving their people... Amazon's famous for being cheap bastards, but someone has a great idea, okay, here's 5 million bucks, go do. Amazon is definitely innovating successfully. What about the flip side of that of not necessarily the huge upside, but the I'm staking everything on this startup, I need this to work, this is my thing, my name's on the line. I feel like that's a big motivator also for founders, like I'm not going to give up this feeling of grit. Is that important?…

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