And idea would say, I'm going to put, you know, the Apple watch on you and
check your heart rate, and according to fluctuations, according to big data,
I'm going to find a physical.
That's an idea, which is much less important than a mountain.
So if you and I said, let's start a company,
let's conquer this huge health mountain, right?
And we'll start with small steps.
We'll try, we'll make a lot of mistakes, we'll try this thing and it doesn't work,
we'll try that thing and we'll climb up.
Sometimes you even change mountain on the way.
So the mountain is more important than the idea I think.
Most of us, all of us, suffer from slow internet.
So you identified a need, and found a way to speed up our use of the internet,
using something called a virtual private network.
This is the idea behind Hola.
Tell us about the idea, but more important how you implemented the idea.
Okay, so the idea for Hola, started when
we sold our previous company and we left the acquiring company, and set it home.
And me and my co-founder spoke about the Internet,
and how it would make sense to implement in a different way.
>> Just a, sorry to interrupt you, but
just a this is really important >> You really had no need to start another
company.
>> Yeah, we didn't plan to.
>> But the point is that from the early age,
you mentioned that you really loved doing things, making things, and creating value.
In my experience with an entrepreneur this is the driving force.
The process of creating value for many people.
>> That's right.
That's right, but I was in denial, because I thought that I would never
work again after I did my previous company, because it's very tough.
And even today it's super tough.
Like it doesn't get any easier.
>> You work long hours.
>> Well, it's not just work long hours, it's more the fact that a lot of the time,
most of the time you're failing.
So 95% of the things you do you're actually failing them.
And you keep going until you find something that works.
And that's very rare.
Like we do a ton of things, we keep failing, we do something that works,
that's great.
You should celebrate what works, push it forward and do more things.
So it's very tough, a lot of times say why am I doing this, you know, but so anyway.
After Jenga I said I'm not going to do it again.
So we were talking, me and Dari about the internet, and he had this idea
of taking the internet and putting it on top of peer to peer network, so
making the internet peer to peer the way it works.
And I kept pushing it off, we're not going to do it, we're not going to do it,
but ultimately saying that's a huge mountain, like making the internet better.
In many ways, not only speed >> That's a big idea.
We talked about this about the mountain.
I don't care how we do it.
In fact, the idea that he had, is not ultimately what we did, because it failed,
but it doesn't matter because the mountain was interesting.
So, would you like me to talk about the past?
In a moment.
One of the points we make in our course, is that If you're going to do something,
like making the Internet faster, you can't make it ten percent faster, as a startup.
You have to make it, I remember talking to you years ago.
>> Yeah. >> You were going to make
it 50 times faster.
>> That's what we wanted to do.
>> Faster. >> We failed at that,
by the way, but yeah.
So we sort of understood our mission to make the Internet better, in many ways.
Faster is one way.
>> Right. >> And there's other ways that I'll talk
about, but.
>> No you can't do ten percent.
You have to do something dramatically different.
>> Right.
And another key point that you make here, which is important.
One of the tools in this course is called, Real Options.
Financial options is a huge market in the world.
It's the right to buy or sell a piece of paper.
>> Right. >> But a start-up is really an option.
It's an option in the sense that you start something that doesn't work, you learn,
you try something else.
>> Yeah. >> And you go through a series of doors
and windows.
>> Mm-hm. >> And that was your process,
I believe with Hola.
>> Yeah, it's sort of counter-intuitive to be
a good entrepreneur is counter-intuitive,
because the way we educate our kids >> Is we say, if you said something,
stick to it, which is really wrong.
You know, if you said something, that's the best thing you thought at that moment
and as you learn more, you should change your mind, right?
So today, and there's more I'll talk about it, but today, in some ways,
I surprise people like they say, what do you mean this is what you think?
Last year you think think the opposite.
I don't care, I don't care.
Last year, this is what I knew.
I learned since.
Only a donkey would stick to his ideas over time.
So, that's one thing.
Don't stick to your ideas.
The same thing is, don't stick to your direction.
Because maybe it's bad.
If you find you walk into a brick wall, you should change direction very quickly,
and walk into something better, right?
So, these things which are counter intuitive,
where this is, Investor I can say if you promise something, deliver.
As an entrepreneur, you shouldn't promise which path you're taking.
You should promise that you're going to give great returns, and
you're going to do your best on that.
>> So the problem here, though, and I've found this in some startups, and
that is the problem of rampant opportunism.