Comparative Advantages | Keith Rabois, Managing Director at Khosla Ventures

In this interview, Jack explores with Keith Rabois the concept of investing in outliers, particularly at the pre-product market fit stage, focusing on identifying founders with unique "superpowers" that align with their company's needs. Rabois emphasizes the importance of being contrarian and right, highlighting the necessity of a competitive advantage in venture capital, which he achieves by finding founders with just a keynote deck. The conversation shifts to decision-making in venture funds, where Rabois stresses the critical role of assessment and learning from both successes and failures, using examples like Robinhood and FAIR. The discussion also covers the evolving relationship between tech and government, the potential risks and benefits of closer ties, and the increasing willingness of VCs to express their political views. Finally, they discuss the value of having operators as VCs, emphasizing the importance of having built something to understand the challenges founders face.