Venture capitalist and author Hunter Hastings joins Alex Vorobieff to discuss the evolving state of entrepreneurship.
Hunter takes us through his “Fixed and Flexible” concept, stressing the need for early-stage companies to be agile enough to react to market data and pivot their offering.
Hunter explains why that data is so important (stressing the importance of continuous feedback especially negative), and argues that rich qualitative data is often more valuable than rigorously analyzed quantitative data.
We explore whether it is possible that algorithms using artificial intelligence could develop agency and therefore gain the ability to think, feel and measure like a human.
Finally, Hunter elaborates on his belief in individualism, and how we can all become self-reliant through entrepreneurship.
Hunter’s website - https://hunterhastings.com/
Center For Individualism - https://centerforindividualism.org/
Hunter’s latest book - https://www.amazon.co.uk/Interconnected-Individual-Opportunity-Platforms-Exchanges-ebook/dp/B07DM77NQ1/ref=sr_1_1?ie=UTF8&qid=1549548654&sr=8-1&keywords=interconnected+individuals
How has technology transformed marketing from an art into a science – 1:34
Does the role of a modern-day entrepreneur revolve around testing markets? – 6:23
What is the “fixed and flexible” concept? How does it work in the real world (Marlboro case study)? – 11:53
How do start-up businesses recognize when it’s time to pivot? – 14:45
Why negative feedback is so important – 16:03
How can venture capitalists assess whether entrepreneurs have a good relationship with feedback? – 18:37
What is the role of a modern-day venture partner? – 19:24
What did Hunter learn from “failing spectacularly” with one of his own businesses? – 21:38
How algorithms sifting through large volumes of data can help entrepreneurs made OODA Loop-style decisions – 25:49
How algorithms are still largely influenced by human assumptions – 28:33
Why rich qualitative data is often better than large volumes of analytical quantitative data – 31:01
Will algorithms ever be able to utilize human emotion and sentiment? Will they ever develop agency? – 32:38
What is Individualism and what is the purpose of the Center for Individualism? – 39:08
What did Hunter wish he had known earlier in his career? – 42:50
How does Hunter define marketing in today’s high-tech world? – 44:35
Hunter’s information – 47:30