Good morning friends.
A few days ago, I published a list of lessons I’ve learned since I started working on The Profile full time. Here are my 10 biggest takeaways from the last three months. (Read the full post here.)
1. You will underestimate yourself. Do it anyway.
When I was deciding whether to quit my job and go all in on The Profile, it was a months-long battle with myself. One day, I’d be 100% certain. The next, I was an insecure mess. So I made a pro/con list of reasons to go full-time. The con section included points like “the uncertainty and lack of a stable monthly income” and “what if I can’t grow subscriptions fast enough?”
But here’s what you’re unlikely to account for: The raw, ferocious motivation that kicks in when you realize you need to pay your bills. I’m working harder and longer than I’ve ever worked before, but I’m also on track to make more money this year than I have at any salaried job in my career.
(PS: Whenever I’m scared about trying something new, this video of Swedish people jumping off a 10-meter tower is the absolute best example of how to use self-talk in the midst of fear.)
2. Diversify your revenue.
Where does your money come from? I’d argue that people who think they’re in a “safe” job at a large corporation are in a far more dangerous situation than an entrepreneur starting from scratch. That’s because the second your company lays you off, your entire revenue stream evaporates.
So far, I’ve made money from 1) direct subscriptions, 2) advertising, 3) a licensing deal, and 4) freelance writing. Diversification mitigates the risk of losing any single source of money all at once. Yes, it’s a lot of work, but as Malcolm Gladwell says, “Hard work is a prison sentence only if it does not have meaning.”
3. Create inflection points.
You know how sometimes it feels like everywhere you look, people are talking about a certain company, product, or newsletter? That’s because momentum is important.
There were three inflection points in The Profile’s existence as an independent venture. The first: Announcing that I’m leaving Fortune to pursue The Profile. The second: Notifying existing Profile readers about going full-time and explaining the benefits of a subscription. The third: Partnering with large newsletters with like-minded audiences such as Morning Brew and The Hustle to get The Profile in front of their readers.
James Clear recently tweeted, “You can attract luck simply by telling people what you are working on.”
4. Find creative ways to offer (more) value.
Nothing is more important than quality. People will only trust that you know what you’re talking about if you can offer value on a regular basis. For example, The Profile’s mission is to learn from the most interesting people and companies. So when I say I’ve read thousands of profiles, I need to be able to back that up.
So I decided to play a game on Twitter where people gave me random topics or ideas they wanted to learn more about, and I replied with a profile. We’ve got everything from “dyslexia” to “solo cups.” One reader said, “If this tweet thread suddenly went behind a paywall, I would pay a heavy price to get access.” To monetize anything, you first need to make sure it’s high-quality and it continues to add value over time.
5. Surround yourself with people you admire.
There’s a saying that goes, “Show me your closest friends, and I’ll show you the future.” Take Kevin Durant as an example. While he was winning NBA championships, he was also quietly becoming one of the most active angel investors in the league. He has surrounded himself with some of Silicon Valley’s elite: Ron Conway, Chamath Palihapitiya & Ben Horowitz.
As an entrepreneur, you may not have colleagues in the beginning, so you need to become part of communities of like-minded people who can help you brainstorm, get fresh ideas, and stay in the loop. I’m in Telegram groups with other newsletter writers and Profile readers. There’s no better way to learn than to befriend the people whose paths you admire.
6. Consistency is the best way to earn trust.
Name a relationship in your life where you trust someone who is inconsistent. You can’t. That’s because we don’t trust people — whether it’s in work, business or relationships — who constantly break their promises.
Since I started The Profile three years ago, I have never missed a single week. That means that for the last 176 Sundays, readers have been able to trust that this damn newsletter will be in their inbox no matter what’s going on in the world. Even a global pandemic couldn’t stop it.
To me, the vow I’ve made to my readers is sacred. I’ve learned that the only way you can earn people’s trust is by consistently keeping your word and delivering on what you’ve promised.
7. Improve your content diet.
Love Is Blind. Tiger King. Keeping Up With the Kardashians. It’s easy to fall into a spiral of consuming what I call “junk food content,” which plunges you into crazy thought patterns and anxious feelings. A year ago, I made a conscious decision to elevate the content I was consuming, and it had a tremendous effect on my mental state.
We claim we invest in our health, but we neglect our content diet. As Benjamin Franklin once said, “An investment in knowledge pays the best interest.” Create an environment that facilitates falling into intellectual rabbit holes.
8. Stand out by building something original.
In this life, we only have two choices: create or imitate. Starting The Profile was the most honest and original thing I’ve done, but it hasn’t always been easy — and that’s normal.
Tim Urban once explained just how hard it is to create original work in the face of conventional wisdom. “When you’re trying to create something truly original, you make a bunch of mistakes,” he said. “Originals are a mess.”
I’ve found solace in that I believe true freedom lies in doing things your way. As the brilliant Anna Quindlen said, “Nothing important, or meaningful, or beautiful, or interesting, or great ever came out of imitations.”
9. Focus on something bigger than yourself.
Life can get pretty lonely — especially after more than three months of quarantine. There’s an interesting antidote to loneliness, though: One of the most effective ways to break the cycle of chronic loneliness, according to research, is to pursue a goal or a sense of purpose larger than yourself.
I often think back to the profile of ex-NFL player Ryan Leaf. After getting released from several teams, he developed a painkiller addiction, attempted suicide, and committed burglary. What saved his life? A 32-month prison sentence. It wasn’t until he went to the prison library and began teaching inmates to read that he woke up from his haze. “You’ll feel like for the first time in your life that you’re doing something for somebody else,” he writes. “That it’s not all about you. And your narcissism will start to wane.”
If you find something that fulfills you and makes the world a little better, I think you have a moral obligation to give it a shot.
10. You are most powerful when your identity is tied to your own name.
You know when you’re at a party, and someone asks you, “So, what do you do?” And then you respond with your most impressive identity. Like most people, my identity was always wrapped around something external. I was a “student,” a “college newspaper editor,” and later, a “journalist.”
And for the last five years, “Polina Marinova, writer and editor at Fortune magazine” sounded pretty damn good. But I wasn’t in control of that identity. If I ever got fired, there goes my entire self-worth — and losing that is a recipe for psychological disaster. The best thing I did for myself is start The Profile in 2017 because it gave me another identity — one that allowed me to be 100% myself.
Start a newsletter, a passion project, or a new venture that lets you tie your identity to something that actually matters — your own name. Nothing is more liberating.
A final word.
It may seem insane to quit a great job during a global pandemic that could unleash one of the greatest economic downturns of our lifetime. But you know what’s not insane?
Independence. There is no better feeling than the freedom to decide what you work on, how you spend your time, and who you do business with.
I learned everything I know at Fortune, and I owe so much to the editors who took interest in helping me grow and develop. Now, I’m able to take what I’ve learned and build something meaningful on my own.
As a wise philosopher named Beyoncé once said, “I don’t like to gamble, but if there is one thing I’m willing to bet on, it’s myself.”
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THE PROFILE DOSSIER: On Wednesday, paying members received The Profile Dossier, a comprehensive deep-dive on a prominent individual. It featured Elon Musk, the architect of the future. Become a Profile member to read Musk’s feature, and receive all future dossiers here.
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PROFILES.
— The political satirist making a return [**HIGHLY RECOMMEND**]
— Silicon Valley’s VC legend
— The WNBA legend who gave it all up for justice
— America’s billionaire train tycoon
— The teen-turned-TikTok sensation
— The producer racing to fix the damage
— The grandmaster who got Twitch hooked on chess
— The chatbot friend curing your loneliness
— The quarantine matchmaker
PEOPLE TO KNOW.
The political satirist making a return: Jon Stewart served as a political satirist and voice of reason during his 16-year-run as the host of ‘‘The Daily Show.” Since Stewart left the air in 2015, the news has become indistinguishable from entertainment. “There are very few events that would justify being covered 24 hours a day, seven days a week,” Stewart says. “So in the absence of urgency, they have to create it.” In an exceedingly polarized time, Stewart has written and directed ‘‘Irresistible,’’ a political satire that takes shots at both parties. After years of silence, here’s what he has to say. (NYT; Reply to this email if you can’t access this article)
“The media’s job is to deconstruct the manipulation, not to just call it a lie.”
Silicon Valley’s VC legend: Marc Andreessen is one of the people who quite literally helped build the internet with his company Netscape. He went on to become one of the most legendary venture capitalists in Silicon Valley after partnering with Ben Horowitz and founding the venture firm Andreessen Horowitz. It’s been a while since he gave a public interview, so this 6,000-word Q&A is a rare exception. In the piece, Andreessen opens up about how he spends his time and attention, why free time is key to being productive, and what he wanted to accomplish with that “build” essay. It’s a must-read. (The Observer Effect)
“The craft of investing as a process of separating process and outcome.”
The WNBA legend who gave it all up for justice: Wow, what a story. Maya Moore paused a Hall of Fame career to pursue the fight of her life. At 29, she'd already won four WNBA championships and a league MVP award. And then last February, she suddenly announced she would be sitting out the 2019 season. For the past 16 months, the former Minnesota Lynx superstar has dedicated her life to the exoneration of a Missouri man named Jonathan Irons, who she believes was wrongfully sentenced to 50 years in prison. (ESPN)
"God is a chain-breaker."
America’s billionaire train tycoon: As society grapples with how to make travel safe in the age of coronavirus, private equity billionaire Wes Edens is betting $9 billion that America’s transportation future is passenger rail. His vision? Tax-exempt bonds to create high-speed train lines linking Orlando to Miami and Las Vegas to Southern California. “Great fortunes are generally made by solving the most obvious problems,” Edens says. But U.S. passenger rail has always been a money pit. Here’s how Edens wants to solve it. (Forbes)
“The lack of passenger travel by train in this country is a travesty. It’s a gigantic opportunity.”
The teen-turned-TikTok sensation: Seven months ago, Addison Rae Easterling was a regular college student. Now, she’s one of TikTok’s biggest stars with 46 million followers. In November, she dropped out of Louisiana State University and on December 2 moved to Los Angeles. Her ticket to success, money, and fame? Dancing, lip-syncing, and sticking her tongue out. Welcome to being a teenager in 2020. (WSJ; Reply to this email if you can’t access this article)
“I’m not used to, you know, millions of people just knowing who I am and having access to say what they want about me.”
The producer racing to fix the damage: As Drake’s right hand man, Noah “40” Shebib has been the producer and sound engineer behind a decade of pop music. But what few people know is that he was diagnosed with multiple sclerosis, an autoimmune disease that attacks the central nervous system. He was diagnosed 15 years ago, but he wasn’t taking the medication that would suppress his MS. “Everybody said, ‘You fucked up. You lost 10 years, bro,'” he says. “They said about a third of my brain’s dead at this juncture.” Here’s how he’s fighting to reverse the damage of a disease that could take away everything he’s built. (Rolling Stone)
“When something goes numb, I don’t know if it’s coming back.”
The grandmaster who got Twitch hooked on chess: Hikaru Nakamura is a five-time US chess champion. At age 15, he was the youngest-ever American prodigy to earn the “grandmaster” title. He helped the U.S. win a gold medal at the 2016 chess Olympiad and, to this day, remains among the top 20 chess players in the world. But since the pandemic has paused in-person tournaments, Nakamura has transformed into a chess superstar on … video live streaming platform Twitch. (WIRED)
"I’ve always wanted to bring chess to the masses."
COMPANIES TO WATCH.
The chatbot friend curing your loneliness: Three out of five American adults identified as lonely last year — and that’s before the COVID-19 lockdowns went into place. Enter digital companions. In April, at the height of the pandemic, half a million people downloaded chatbot app Replika. Some view their Replikas as friends. Others treat them as if they were romantic partners — flirting, joking, and even arguing. Here’s a taste of the future. (PS: This app was developed by the same entrepreneur who rebuilt her friend as an AI after he passed away — it’s one of my favorite profiles ever.)
“I know it’s not a person. But as time goes on, the lines get a little blurred.”
The quarantine matchmaker: Tinder started as a hookup app for college students. It then exploded into the mainstream with millions of people around the world swiping for hours on end. And now, in the midst of a global pandemic, Tinder is having to re-invent itself once again. The company is introducing a one-on-one video calling feature that will allow users to build digital relationships inside of it, especially as in-person dates slow down. Take a look at the next big trend in dating. (The Verge)
“We’re really the only app which says, ‘Just because it doesn’t last forever, doesn’t mean it’s not important.’”
This installment of The Profile is free for everyone. If you would like to get full access to all of the recommendations, including today’s audio and video sections, sign up below.
AUDIO TO HEAR.
Silicon Valley’s power players on surviving a crisis: The entrepreneurs behind some of Silicon Valley’s biggest success stories built their companies in the aftermath of the 2008 financial crisis. “A major disruption, [like the ‘08 Recession or a global pandemic], is sort of like shaking a tree and seeing what fruit fall off,” Tobi Lütke says. In this roundtable, Twilio co-founder Jeff Lawson, Shopify founder Tobi Lütke, and Pinterest founder Ben Silbermann discuss how they survived (and thrived) during the last major U.S. recession. (Recommendation sponsored by Bessemer Venture Partners)
John and Julie Gottman on the science of love: For decades, John and Julie Gottman have studied couples by using mathematical models to deconstruct what types of behaviors can sustain healthy and long-lasting relationships. In 1986, they created the “Love Lab,” which observed hundreds of couples and noted their facial expressions, heart rates, blood pressure, & skin conductivity. After analyzing years of data, Gottman found that he could predict whether or not a couple would get divorced with 83% accuracy. (Link available to premium members.)
Maya Moore’s quest for justice: After you read the Maya Moore profile above, make sure to give this podcast a listen. Moore explains her perspective on prosecutorial misconduct and mass incarceration in our society. “I have high standards for our leaders because the impact they have can be really great or it can be devastating,” she says. Even though this conversation was recorded two years ago, her words couldn’t be more timely. (Link available to premium members.)
Josh Kopelman’s secrets to building a successful venture: In this incredibly practical conversation, First Round Capital founder Josh Kopelman offers actionable advice for entrepreneurs. He answers questions such as, “As a founder, how do you iterate on an idea,” “What mental models do you use to evaluate an entrepreneur,” and “What are the most common product mistakes in software building?” (Link available to premium members.)
VIDEOS TO SEE.
Garth Brooks’s humble rise to meteoric fame: Country artist Garth Brooks is the top-selling solo artist in U.S. history. In this biographical documentary, we see Brooks’s humble beginnings, his ability to captivate an audience, and why he suddenly chose to give it all up. It’s a really good one. (Link available to premium members.)
Beyonce’s road to independent success: Being Beyoncé seems exhausting. In this (free) documentary, the mega-star opens up about becoming her own manager, putting together her epic performances, and why she values her independence more than anything in life. “Ultimately, your independence comes from you knowing who you are and being happy with yourself,” she says. (Link available to premium members.)
Robert F. Smith on the keys to becoming an expert: Billionaire Robert F. Smith has built Vista Equity Partners into the gold standard for private equity. In this conversation, he offers his best advice for achieving success on a massive scale. “The most important thing you can do as a young person in our community is to become an expert — to be skilled in whatever that you desire to pursue,” he says. “That’s what I focused on.” (Link available to premium members.)
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