This is a remastered Replay of one of our most popular episodes, "What Startups Can Learn From Poker", which was originally published on 21 December 2022. Enjoy!
Original description:
All season, Chris and Yaniv have talked about the mindset that is needed to succeed at venture-backed startups. For the final episode of Season 1, we tie it all together with an analogy: tournament poker.
It is amazing how many things poker and startups have in common, so in this episode we use the lens of poker to discuss the big picture of how to approach building a successful startup.
We dive into each of the following commonalities between poker and startup life:
01:56 Playing an iterative game
10:00 Burning cash
13:31 Making decisions based on uncertain information
18:46 Progressive learning
28:44 Avoiding 'resulting'
35:02 The relatively low probability of a successful outcome (and why that’s OK!)
This episode was inspired by the book 'Thinking in Bets' by former pro poker player Annie Duke.
The Pact
Honor the Startup Podcast Pact! If you have listened to TSP and gotten value from it, please:
Follow, rate, and review us in your listening app
Secure your official TSP merchandise at https://shop.tsp.show/
Follow us on YouTube for full video episodes: @startup-podcast
Give us a public shout-out on LinkedIn or anywhere you have a social media following
Key links
This episode of the Startup Podcast is sponsored by .tech domains. Forget weird prefixes and creative misspellings; the availability for .tech domains is simply way better than .com. For a clean and memorable name, go to https://get.tech/tsp
The Startup Podcast website: https://www.tsp.show/episodes/
Learn more about Chris and Yaniv
Work 1:1 with Chris: http://chrissaad.com/advisory/
Follow Chris on Linkedin: https://www.linkedin.com/in/chrissaad/
Follow Yaniv on Linkedin: https://www.linkedin.com/in/ybernstein/
Producer: Justin McArthur https://www.linkedin.com/in/justin-mcarthur
Assistant Producer: Steph Hefferan https://www.linkedin.com/in/steph-heff/
Intro Voice: Jeremiah Owyang https://web-strategist.com/
#TheStartupPodcast #startups #poker #texasholdem #investment #venturecapital #resulting #probability #ChrisSaad #YanivBernstein
