Key Moments
Caterina Fake — The Outsider Who Built Giants | The Tim Ferriss Show (Podcast)
Tim FerrissKey Moments
Caterina Fake discusses building tech giants, embracing non-typical paths, and the importance of humanistic values.
Key Insights
Embrace an 'outsider' perspective for innovation and creativity in tech.
Founding principles of community, connection, and creativity are vital.
Timing and cultural movements are crucial for startup success.
Cultivate an inner life and defend against digital noise for well-being.
Acknowledge and accept the 'shadow' side of human experience for authenticity.
Intentionality and ethical considerations must guide technological development.
A STOCHASTIC PATH TO SILICON VALLEY
Caterina Fake's journey to Silicon Valley was unconventional, beginning not with a tech background but with a deferred dream of becoming an artist and writer. An unexpected delay in a planned Himalayan climbing expedition led her to San Francisco, where she discovered the burgeoning internet. Her initial role as a web designer, self-taught through a DIY approach, marked the start of her immersion into the digital world, a far cry from her intended Renaissance literature studies.
THE HUMANISTIC SUPERPOWER
Fake believes that an outsider perspective, stemming from backgrounds in humanities like literature and art, provides a critical superpower in the tech industry. This unique lens allows for seeing things differently, fostering creativity, communication, and collaboration. Companies she co-founded or invested in, such as Flickr and Etsy, emphasize these humanistic values, demonstrating that a non-traditional path can lead to significant innovation and impactful ventures.
FLICKR: A HAIL MARY THAT DEFINED AN ERA
The genesis of Flickr was a pivot from an unsuccessful game project, born during the dot-com bust. Faced with funding challenges, Flickr emerged as a 'Hail Mary' that redefined the online community and laid the groundwork for the social media era. Fake emphasizes the intense dedication required, living on fumes and relying on scrappy, hands-on operations. She credits not just luck but also a deep commitment to building a genuine online community, actively participating and setting the tone for user interaction.
TIMING, CULTURE, AND SEIZING THE PARADE
Fake highlights the critical role of timing and cultural movements in startup success, referencing Bill Gross's research. Her firm, Yes VC, actively seeks companies that align with societal shifts. Examples like Etsy, tapping into the DIY movement, and Kickstarter, facilitating creative projects, demonstrate how being in front of a cultural wave is more impactful than individual brilliance alone. These ventures tapped into fundamental human desires for connection and community, mirroring ancient marketplace dynamics.
DEFENDING THE INNER LIFE IN A DIGITAL WORLD
In an era of information overload and constant digital stimulation, Fake stresses the importance of defending one's inner life. She advocates for deliberate practices, like focused work during specific hours, minimizing online distractions, and engaging in long-form reading. This cognitive defense is crucial for creativity, intuition, and overall well-being, countering the 'paradox of choice' and the constant barrage of information that can diminish human experience.
EMBRACING THE SHADOW AND CULTIVATING KINDNESS
Fake discusses the significance of acknowledging the 'shadow' side of human experience, including periods of depression and despair. She likens social media's curated 'highlights reel' to 'social peacocking,' which can be damaging. True humanity lies in embracing all facets of life, both light and dark. She suggests that accepting the shadow in others, as exemplified by Shakespeare's sonnets and works by Rumi and Ursula K. Le Guin, can lead to greater self-acceptance and a more authentic existence. Ultimately, she advocates for cultivating kindness as a core principle.
ETHICAL TECHNOLOGY AND THE 'SHOULD THIS EXIST' QUESTION
Via her podcast 'Should This Exist,' Fake explores the human consequences of emerging technologies like AI and gene editing. She argues for a balance between self-regulation and external constraints, emphasizing that even well-intentioned innovations can lead to unintended negative outcomes. The critical question for entrepreneurs is not just 'Can this exist?' but 'Should this exist?,' demanding constant vigilance, ethical self-examination, and a proactive approach to steering technology towards beneficial futures.
Mentioned in This Episode
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●Software & Apps
●Companies
●Organizations
●Books
●Concepts
●People Referenced
Common Questions
Caterina Fake's path to Silicon Valley was 'stochastic' and unplanned. She was living in New York, then spent a summer rock climbing in Arkansas. On her way to a climbing expedition in Nepal, she briefly stayed with her sister in San Francisco. When her trip was delayed and then cancelled due to an avalanche, she ended up staying and, encouraged by her sister, began working as a web designer in 1994, drawn to the nascent internet scene.
Topics
Mentioned in this video
A seed-stage venture capital fund where Caterina Fake previously worked as a founder partner.
Mentioned as a common path for Silicon Valley careers, but not Caterina Fake's route.
Caterina Fake graduated from Vassar with a degree in English literature.
Caterina Fake received an honorary doctorate from this art and design school.
Caterina Fake applied to grad school at Berkeley, planning to get a PhD in Renaissance literature.
Stuart Brand's work with this foundation influenced Caterina Fake's thinking on time and technology.
A startup incubator founded by Bill Gross, whose research on startup success factors is cited.
The mountain range where Caterina Fake had planned a big climb before her trip was canceled due to injuries and avalanche season.
City in Syria whose marketplaces (Souks) are referenced as ancient examples of community-oriented exchange.
Caterina Fake was en route to Nepal for a climbing expedition when her trip was delayed, leading her to stay in San Francisco and eventually enter tech.
Caterina Fake traveled in Syria and visited the Souks in Aleppo, ancient marketplaces that represent the origins of person-to-person community markets.
Founder of Twitter and Blogger, who continued despite running out of cash, demonstrating extreme determination.
Starter of Idealab, who studied successful businesses and found that timing was the most crucial factor in a startup's success.
A poet admired by Caterina Fake, whose works she recommends for exploring poetry.
Co-founder of Airbnb, whose early hands-on approach to building community is referenced.
Co-founder of Kickstarter.
Mentioned as an example of a highly successful entrepreneur who likely wouldn't be asking for advice on a forum like Quora.
Science fiction writer whose essay and short story about the 'shadow' are recommended by Caterina Fake as important for understanding humanity.
His poem 'Fire and Ice' is referenced when discussing the potential end of the world due to humankind's power.
Mentioned as an example of a highly successful entrepreneur who likely wouldn't be asking for advice on a forum like Quora.
A poet admired by Caterina Fake, whose works she recommends for exploring poetry.
His concept of the 'shadow' is used by Caterina Fake to explain the detrimental effects of social media's emphasis on only positive life aspects.
A poet from the East whose works Caterina Fake respects.
Producer of Masters of Scale and WaitWhat, who initiated the conversation with Caterina Fake about her new podcast, 'Should This Exist'.
Co-founder of Airbnb, whose early hands-on approach to building community is referenced.
An investor who backed Caterina Fake's first company, Flickr, and later hosted her on his podcast, Masters of Scale.
His work, particularly 'How Buildings Learn' and with the Long Now Foundation, influenced Caterina Fake's perspective on time and technology.
Elon Musk's ex-wife, who famously responded on Quora that Elon Musk wouldn't be seeking advice there, highlighting his action-oriented nature.
A poet admired by Caterina Fake, whose sonnets she memorized and found helpful during difficult times.
Mentioned for her advice on focusing on just-in-time information rather than just-in-case information, which resonated with Tim Ferriss.
A philosopher Tim Ferriss reads, mentioned in the context of long-form reading and philosophical thought.
Mentioned as a service that wasn't available in the early days of Flickr, highlighting the scrappy nature of early startup infrastructure.
A platform where Caterina Fake's podcast 'Should This Exist' can be found.
Mentioned as a platform that helped accustom people to the idea of having an online profile, converging with other trends to make Flickr successful.
Co-founded by Caterina Fake, this online community introduced innovations like news feeds, hashtags, followers, and likes, and was built during the dot-com bust.
Evan Williams's company that he persevered with despite running out of cash; it was later acquired by Google.
Caterina Fake was an early investor, investing when it was just a PowerPoint deck, seeing it as an inevitable cultural possibility.
A platform owned by Amazon where Caterina Fake logs all the books she reads, recommending it for book discovery.
Caterina Fake wrote an article for Wired about how entrepreneurs dictate community practices.
A forum where someone asked how to be as successful as Steve Jobs and Elon Musk, illustrating a common pitfall.
Tim Ferriss recommends this as an all-in-one nutritional insurance, using it for travel, morning performance, and covering nutritional bases.
Tim Ferriss uses Uber daily and has been an advisor since 2008 or 2009, utilizing it for travel, pet transport, and deliveries.
One of Caterina Fake's investments.
Mentioned as a platform where people can get lost watching 'unboxing videos' if they don't manage their online time.
A company Elon Musk was building, demonstrating his focus on creation rather than endless preparation.
Caterina Fake served as chair and co-founded, later becoming an early investor in this platform for DIY handmade goods, a rebellion against big-box retail.
One of several startups Caterina Fake founded after Flickr.
Mentioned as an example of a successful pivot, like Flickr, that emerged from difficult circumstances.
One of Caterina Fake's investments.
Caterina Fake was unable to create an account on Facebook for its first two years due to issues with her last name.
Acquired Blogger, a company founded by Evan Williams, who later incubated Twitter.
Sent servers from Austin, Texas, to Flickr's colocation center in its early, scrappy days.
Mentioned as an example of a company that started with a highly manual, high-touch approach to building community, similar to Flickr.
A company Elon Musk was building, demonstrating his focus on creation rather than endless preparation.
Its 'Screen Time' feature is mentioned as a tool for individuals to manage their online presence and reduce distractions.
Owns Goodreads, which Caterina Fake uses to track her reading.
Caterina Fake had to teach herself HTML when she started as a web designer in the early days of the internet, as there were no manuals or guides.
Greek mythological figure who seized fire from the gods, used as a metaphor for humanity's power to manipulate the world through technology and its destructive potential.
Caterina Fake sits on the board and invested in this company, which simplifies consumer choice by offering essential household products.
The current geological age, in which human activity is the dominant influence on climate and the environment, tied to the discussion of humanity's destructive power.
A gene-editing technology with incredible possibility and 'Frankenstein-like potential' that Caterina Fake explores on her podcast.
Tim Ferriss mentioned recommending Athletic Greens in his book, The 4-Hour Body.
Caterina Fake referenced Abraham as a metaphor for an entrepreneur starting a company and dictating community practices.
Tim Ferriss's book, mentioned by Caterina Fake as part of his obsession with time.
A publication whose progenitor, Stewart Brand, famously stated, 'We are as gods and might as well get good at it.'
A book Caterina Fake previously recommended for entrepreneurs.
Homer's epic poem, which Caterina Fake is currently rereading in a new translation by Emma Wilson.
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