Philosophy, PayPal Mafia, & Investing in Dropouts: Inside the Mind of Loom’s First Investor| EP 5
In this episode of The Startup Shortcut, we sit down with Michael Gibson, co-founder of the 1517 Fund and the first investor in Loom. Michael shares his fascinating journey from studying philosophy and ancient Greek to becoming a venture capitalist, backing dropouts, and working alongside Peter Thiel and the PayPal Mafia. If you’re curious about unconventional paths to success, investing in startups, and what VCs really look for in founders, this episode is packed with valuable insights.
⏰ Timestamps:
00:00 – Intro: Meet Michael Gibson, co-founder of the 1517 Fund
01:28 – Unlikely path: From philosophy and writing to venture capital
02:40 – Interviewing PayPal’s Max Levchin and the rise of the PayPal Mafia
04:48 – How Michael met Peter Thiel and the origins of the Thiel Fellowship
06:08 – Launching the Thiel Fellowship and backing dropouts to pursue their passions
09:35 – 1517 Fund: Investing in pre-seed startups and unconventional founders
12:55 – The story behind Lambda Labs: From photo app to $100M hardware business
17:32 – Egoless ambition: The trait that sets successful founders apart
18:48 – The duality of 1517 Fund: Backing dropouts and unorthodox scientists
21:10 – The problem with traditional education and scientific stagnation
25:56 – Fundraising tips for startups: Building investor relationships early
32:36 – The power of pivoting: How great founders adapt and succeed
39:38 – AI predictions: The future of AI and how it will impact industries
44:09 – Final advice: Why now is still a great time to start a company
Don’t miss Michael’s stories on backing startups like Ethereum, Figma, and Loom. Plus, hear his thoughts on the future of AI and how to navigate the world of venture capital!
📖 Check out Michael Gibson’s book:
🔗 Connect With Michael Gibson:
🔗 Review his Fund:
Connect With Me:
Website: www.establishpr.com
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