LinkedIn Co-Founder Reid Hoffman is launching the second season of his podcast "Masters of Scale" this week. The premiere episode features an interview with entrepreneur Peter Thiel.
In this episode, Thiel and Hoffman discuss the similarities between fast-growing start-ups and Olympic athletes. Hoffman says he learned about a phenomenon called "blitz scaling" from Thiel when they worked together at PayPal. This term describes start-ups that grow 2 to 5 percent per day. That may not sound like a lot, but when compounded, can mean 25 percent growth a week!
Part of the goal of these start-ups is to grow so fast, they can define their own ecosystem, and break free of competition.
Speaking of breaking free, social media start-up Snap is struggling to combat competition from Facebook and Instagram. This week, Snap reported quarterly earnings and missed analyst estimates on almost every metric. Hoffman says to not count Snap out, but adds it has a fair amount to do to scale beyond its base.
On Friday, Cheddar asked leaders and executives about their secrets to success to #MakeCheddar. Hoffman said the desire to improve the world at scale drives his hustle. Hoffman also said the craziest side gig he's taken to #MakeCheddar involved video game development when he was 12.