Nearly 50 years ago, Sequoia Capital was one of the earliest investors to take a swing on the personal-computer startup Apple. Now, the venture capital firm’s managing partner has revealed how Sequoia goes about looking for the next Steve Jobs. Speaking at #BrainstormTech in Park City, Roelof Botha told Fortune editor-in-chief Alyson Shontell that Sequoia is constantly looking to evaluate the quality of an idea, rather than the credentials of the person who’s pitching it. “Steve Jobs originally was not funded by the people on Sandhill Road because he wasn’t wearing shoes and was unconventional,” said Botha, who was a top executive at PayPal before joining Sequoia. “Yet Don Valentine saw through that because he saw the quality of the idea.” Read more: https://lnkd.in/eC5ukwFN
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Updates
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How many minutes are too late to arrive at work? We asked the following tech leaders at our #BrainstormTech conference how many minutes they consider too late to arrive at work: ➡️ Grindr CEO George Arison ➡️ Zoox CEO Aicha Evans ➡️ Fearless Fund CEO Arian Simone ➡️ Colossal Biosciences Chief Science Officer Beth Shapiro ➡️ Salesforce AI CEO Clara Shih ➡️ Google DeepMind Chief Scientist Jeff Dean ➡️ Resiin CEO Helen Kontozopoulos ➡️ Breeze Airways™ CEO David Neeleman ➡️ Robinhood CEO Vlad Tenev Learn more about #BrainstormTech: bit.ly/465Qwd4
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"I think all the learnings, and the highs and lows have become these amazing learnings that I can now share." In an interview at Fortune's #BrainstormTech conference, Rent The Runway cofounder Jennifer Fleiss shared the #1 tip for starting your own business. See more from #BrainstormTech here: bit.ly/465Qwd4
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Elon Musk’s continued gripes with California, where more than one in five new cars sold are electric, is losing him customers to Rivian. Industry data on Thursday revealed demand for new Teslas in the Golden State plummeted 24% to 52,211 vehicles in Q2, based on registrations recorded post-sale when a vehicle’s title is processed. The latest figures mark Tesla’s third consecutive three-month period of declines compared to the previous year, suggesting that the volume of its existing range may have peaked in 2023 when it hit 230,500 vehicles. “Tesla’s allure seems to be wearing off,” said the California New Car Dealers Association (CNCDA), which published the figures it sources from Experian Automotive. Read more: https://lnkd.in/eWQJda6r
Elon Musk’s crusade against California is causing Tesla sales in the Golden State to plummet
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“Dinosaur de-extinction is not going to happen, I’m very sorry." Colossal Biosciences Chief Science Officer Beth Shapiro explained de-extinction process and why her company wants to bring back the woolly mammoth. Learn more about: #BrainstormTech: https://lnkd.in/dt5wDVZz
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While many of his former PayPal peers have spent the last week rallying around who they will support in the 2024 election cycle, Sequoia Capital’s top partner Roelof Botha criticized the level of division in the country on Tuesday and said that his firm would not wade in. “At Sequoia as a partnership, we don’t take a political point of view,” Botha said at #BrainstormTech in Park City, Utah. He added: “We’re proud of the fact that we’ve enabled many of our partners to express their respected individual views along the way, and given them that freedom.” Read more: https://lnkd.in/erdwcM5Z
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The European head of the world’s largest cruise trade body has warned that its members may need to avoid some of the world’s most famous destinations to protect passengers amid a backlash against overtourism. Several European cities have vented their frustrations over rising tourist numbers and its impact on the price of everything from food to accommodation and the local ecosystem. Tourism’s environmental footprint is a complaint usually levied at giant carbon-emitting cruise ships. In Barcelona, a popular setting-off point for cruise liners, locals have taken to squirting tourists with water pistols. Protestors in the Spanish Canary Islands started a hunger strike in April to protest overcrowding. Read more: https://lnkd.in/eHHXTwie
Anti-tourist backlash in Europe causes cruise ships to change course
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“That happens basically every evening at a minimum.” In an interview at Fortune’s #BrainstormTech conference in Park City, Utah, Zoox’s CEO Aicha Evans shared one of her tips for success: to have a 1:1 with yourself every day. See more coverage from #BrainstormTech here: bit.ly/4cLLwgf
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There are plenty of pilots eager for work—but not many want the labor-intensive title of “captain,” opting instead to retain the position as the less-stressful first officer. “First officer pay has gone up so much that a lot of these people don’t want to upgrade to captain because it affects their quality of life,” JetBlue and Breeze Airways founder David Neeleman said during #BrainstormTech. Pilots making $200,000 as first officers based in Miami aren’t willing to trade their salaries or lifestyles for a $350,000 captain position in Newark, he explained. While both pilots physically fly the aircraft, first officers require less training and fewer certifications than captains—and don’t have to take the brunt of the safety pressures in operating an aircraft. Read more:
Pilots are ditching top captain jobs in favor of $200,000 second-in-command gigs with better work-life balance, JetBlue founder says
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Assaf Rappaport took a leap of faith when he left Microsoft after four years at the tech giant. And it just so happened that he took that jump in March 2020. Of course, upending his life to embark on his own project coincidently during lockdown proved nerve wracking. “It felt like the most horrible decision ever,” Rappaport said at #BrainstormTech. Part of the problem was that Rappaport was departing a role and company that he truly enjoyed. “I was on the mothership,” Rappaport said. “I truly, I love Microsoft. I had a great job, great impact on security,” he continued. Even so, Rappaport was feeling like it was time for a change. Read more: https://lnkd.in/egBWvWSW
Wiz founder thought leaving Microsoft was the ‘most horrible decision ever.’ Now he’s reportedly selling his startup to Google for $23 billion
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