Optimize for People, Not Valuation

Kevin Systrom and Mike Krieger, Instagram

“Seeking venture capital is like hiring people for your team,” says Instagram Co-Founder Kevin Systrom. Here he encourages aspiring founders to find funding from individuals that truly believe in what you are trying to achieve, rather than those seeking immediate boosts in valuation. According to Systrom, “Rather than optimizing for valuation, it’s far better to optimize for people.” In this clip, he recounts Instagram’s ability to launch with limited expenses and discusses the importance of working on prototypes rather than company slide decks.