Lessons from a 2-time unicorn builder, 50-time startup advisor and 20-time board member | Uri Levine

Uri Levine is the co-founder of Waze, the world’s largest community-based traffic and navigation app, acquired by Google for over $1 billion. He’s also founded nine other companies, been on the board of 20 companies, and advised more than 50 companies. He’s most recently the author of Fall in Love with the Problem, Not the Solution: A Handbook for Entrepreneurs, hailed by Steve Wozniak as the “Bible for entrepreneurs.” Uri is dedicated to creating impactful startups that solve real-world problems and has seen everything from failure to moderate success to big success. In our conversation, we dig into:
• Why falling in love with the problem is key to startup success
• The phases of the startup journey and how to navigate them
• Why firing is more important than hiring
• How Waze iterated to achieve product-market fit
• Tactics for telling a compelling story when fundraising
• Much more

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Where to find Uri Levine:

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In this episode, we cover:
(00:00) Uri’s background
(02:50) Falling in love with the problem
(09:01) Signs this is a big enough problem
(10:52) The importance of passion
(12:04) A pivot example
(13:59) Where to find startup ideas
(21:55) Finding product-market fit at Waze
(29:43) The different phases of a startup journey
(36:45) What investors don’t want to hear
(39:51) Fundraising tips
(48:00) How to make your presentations stronger
(50:30) A wild fundraising story
(53:44) Firing and hiring
(59:48) The 30-day test
(01:04:10) Understanding users
(01:12:08) Talking to the right users
(01:15:34) Lightning round

Referenced:

Lenny may be an investor in the companies discussed.

[АртемТкачев-эи]

ONE OF THE GREATEST INTERVIEWS AMONG HUNDREDS I LISTEN TO!!! SIMPLE, CLEAR, VISIONARY! ABSOLUTE HITTTT!!! THANK YOU!!!

[lilyabello]

Simple yet elegant explanations of the phases of the journey. Completely agree that one must fall in love with the problem, and everything flows from there.

[VincentFulco]

His book was awesome. Every founder should read it to get a realistic view of the journey.

[slavomierg]

This is the most insightful and thoughtful advice on building startups. No fluff, focus on first principles. Very inspiring. Thank you Uri for sharing your knowledge.

[nida]

One of the best interviews, so simple and so relatable ... Thank you Uri for sharing your experience

[CherieLaFlamme]

Every Lenny's Podcast I watch quickly turns into my new favorite. Uri was so likable and succinct, and I found myself smiling through it. Some of his advice will stick with me for a long time.

[El_Diablo_]

17:50 win market by starting bad, then iterating until you re good enough
19:00 finding product market fit is the linch pin of a business
24:00 unpredictable how many iterations it’ll take. So move fast

[jonvanhala]

One of the very best episodes ever. Uri is wise, direct, concise, proven. The book is a must read / multiple times. So much value in this. Already shared to many

[jonvanhala]

Ive created a first slide with intention for the beginning of meetings that just sits up on the screen while people are getting ready… and showing up… it’s such an overlooked opportunity and I love that he brings this up. It’s so easy to do and so worth it.

[SeedThinkCapital]

You sure create value for your viewers Lenny. I'll be looking forward to more of your podcasts. Thank you for Waze, Uri.

[OvercomerIdemudia]

This has to be my best episode of this podcast. So insightful!

[lesmoufs]

This is the process and the playbook. Congrats on an all time great interview.

[archiee]

What a great interview, Lenny. Thanks so much

[Learn_Simple_AI]

This is absolutely true ! And way to about things, solutions often change and might not be of the same domain!

[yaelfelicia]

Such an amazing video - Lenny your newsletters are the first email I click on when they get to my inbox!!🙌🏽

[indreshtripathi]

Found this episode and guest most authentic, inspiring and useful ❤

[rufuscasey]

I think this must be be favorite episode so far, so actionable

[AlechioxD]

„fall in love the problem“ is a much needed statement in a time where everyone founds AI companies for the sake of founding an AI company - and adding „AI“ to every product feature and company name. everyone loves the solution nowadays.

[moshebteitelbaum]

The first iPhone, solved many problems of crappy smart phones if its time, Windows phone, blackberry, palm, and more. It was the first stable and predictable experience.

[gomini]

The most important part of the book is its title.