Vinod Khosla on Failure Does Not Matter. Success Matters (Full Transcript)

Title: Vinod Khosla on Failure Does Not Matter. Success Matters – Transcript

Speaker: Vinod Khosla, Founder, Sun Microsystems and Khosla Ventures

Event: Roanak Desai Memorial View From The Top Talk on May 1, 2015 at Stanford Graduate School of Business.

 

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Vinod Khosla – Founder, Sun Microsystems and Khosla Ventures

Hello, everybody.

Interviewer: Vinod, thank you for being here today. Welcome back to the GSB.

Vinod Khosla: It’s always fun to be here. It’s a lot nicer than when I was here.

Interviewer: Yes, I’ve been hearing that quite a bit today, given the previous class here. I’m thrilled to be having this conversation. I was told that you scheduled your time in 15 minute slots. So we are taking up four of those slots right now. So, I’ll get right to it.

I have a few questions here, focusing on three things. Your leadership and management journey, your thoughts of investing and entrepreneurship and then a few questions on your personal life and legacy. After that, we’ll take a few questions from audience and from Twitter. As Dean Saloner mentioned, you were the founder and the first CEO at Sun Microsystems. About a year after you had started, you found out that Sun Microsystems was going to be shut out from a [keysym]. When you heard this, you got on a flight, got to the customer’s lobby and made phone calls refusing to leave until you met with the team. Where does this perseverance and conviction come from?

Vinod Khosla: Well so, I have a philosophy in life. Whatever I believe, I should make happen. It’s that simple. And if a customer is making a mistake, the customer isn’t always right. Trust me. And if you want to do great products, don’t listen to your customers, by the way. Lots of bad lessons in business school. I used to give a talk in the ‘80s on why not to listen to your customers and maybe somebody will ask me a question. That story is in fact true. There was a signed contract with a competitor, I stayed in the lobby all day, at 6 o’clock in the evening and I’d taken a red eye out and I parked in the lobby. I met with the CEO of the company, mostly, because he wanted me to go away. By 9 o’clock, he had — I’d convinced him to meet me in Chicago with his team the next day, because he didn’t want to be seen negotiating with us. The following morning, the day after at 5 a.m., we signed a handwritten contract, because I wouldn’t let him leave. This was the CEO of a big East Coast company, Computervision. We signed a handwritten contract and life was good.

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The point is if you actually believe something, you try your best to make it happen. It doesn’t always happen, but it happens most of the time. Most of the business school entry story is also true. I actually learned that somebody had dropped out. That’s why I showed up and one of the nice ladies in the business school office, put me in her living room to her husband’s chagrin and she was real nice to me. But things do work out if you persist. Not always, but I like to say, failure does not matter, it’s success that matters. And nobody remembers what you failed at. So, everybody remembers Sun. Does anybody know a company I started before Sun that McNealy and I started together? Any hands?

Interviewer: I do, but I’ve been researching you for awhile now.

Vinod Khosla: What do you think the company is?

Interviewer: Was it Data Dump? Or was it?

Vinod Khosla: Yes. There was a company called Data Dump, we started and got funded three months before Sun. Didn’t work out. We started both roughly together. But my point is people don’t remember your failures. And I like to say my willingness to fail is what gives me the ability to succeed. I find most people are so afraid of failing, they don’t try and do the things that would be important enough to do. Anything worth doing is hard and so —

Interviewer: You’ve spoken in the past about the importance of failure or the lack of it. You started your first company at age 20 in Delhi, which did not work out as expected.

Vinod Khosla: Well, I didn’t actually get started. They told me, it’d be seven years to get a phone line.

Interviewer: How did you react to that?

Vinod Khosla: Honest to goodness. You know, I was 19 or 20 and they told me, it would be a 7 year waiting list to get a landline. I sort of picked up and went to Carnegie Mellon.

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Interviewer: How was that like, the move to the US?

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