In January 2005, Ravikant and three of his co-founders filed a lawsuit against Benchmark, August Capital, their co-founder Nirav Tolia who remained at Epinions after his co-founders' departures claiming that-to get their approval for the merger-they were misled to believe that at the time of the merger, the company was worth "$23 million to $38 million", less than the $45 million that they had raised in outside capital, making their shares worthless. After its first day of trading, it was worth $750 million. The merged company became which held an IPO in October 2004. In 2003, Epinions merged with comparison pricing site Dealtime with the approval of Ravikant and the other co-founders that had left the company-even though it meant valuing their shares at zero. They raised $45 million in venture capital from Benchmark Capital and August Capital. In 1999, Ravikant co-founded consumer product review site Epinions. Īfter graduating from Dartmouth College, Naval had a brief stint at Boston Consulting Group before heading to Silicon Valley.
In college, he interned at law firm Davis Polk & Wardwell. In 1995, he graduated with degrees in Computer Science and Economics from Dartmouth College. He graduated from Stuyvesant High School in 1991. He moved to New York with his mother and his brother, Kamal, when he was 9. Ravikant was born in New Delhi, India in 1974. As a podcaster he shares advice on pursuing health, wealth, and happiness. Ravikant is a Fellow of the Edmund Hillary Fellowship. He has invested early-stage in over 200 companies including Uber, FourSquare, Twitter,, Poshmark, Postmates, Thumbtack, Notion, SnapLogic, Opendoor, Clubhouse, Stack Overflow, Bolt, OpenDNS, Yammer, and Clearview AI, with over 70 total exits and more than 10 Unicorn companies. He is the co-founder, chairman and former CEO of AngelList. Embrace it like it's your last.with the caveat that you should still be responsible to your family and community.Naval Ravikant is an Indian-American entrepreneur and investor. If you and others want to live in a cave and not enjoy whatever it is you enjoy that costs money, then I feel bad for you. People have passions and gambling is just one of many. I might have a wine collection or car collection. I could enjoy fine dining weekly and spend more money.
I could play golf every other day and spend _way_ more money. The one thing I will absolutely refute is any kind of "morality" assigned to gambling. A non-zero pct of poker players manage a bankroll and play at their skill level and occasionally will play above their level to "see if they can do it," and often they get scared and jump back down to a safe level. I play poker and of course I see people who are addicted to gambling. If a person wants to drink themselves into oblivion, also their business.as long as they aren't hurting anyone else.
If a person wants to gamble their life away, that's their business. Why aim for the gambling industry?įor good or ill, Americans don't like being told what to do. Gambling seems to have passed its peak some years ago, both in terms of opportunity and social acceptability. Many organisations are shifting away from unethical investments (for whatever definition of ethics they adopt). Surely that's another signal for you to consider. If I understand your comment, gambling is explicitly disclaimed by AL's Stack.
#ANGEL LIST STACK TV#
Here in the UK every other ad on late night commercial TV is for gambling apps or services, while consumer-affairs radio programmes are exposing a rising tide of financial ruin fuelled by debt, low wages, under-employment, with gambling never far away. The apparent growth in the market may be real, but I suspect it will be short lived as governments and authorities stem the advertising, and investors turn towards opportunities that are less ethically unpleasant. The tactics used to entice and retain customers are reminiscent of those used by the tobacco industry: the product actively harms those that use it most so there's a continuous need to attract new users. I'm curious, why do you want to work in the gambling industry? It exploits addiction and ruins lives.
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