Chris also had an early opportunity to invest in Airbnb but he turned them down. He told them their business was too risky and dangerous for their clients.
Dropbox and Airbnb have gone on to be big hits, both worth billions of dollars in valuation. Chris missed out on amazing opportunities that probably cost him millions of dollars.
Chris Sacca is now a billionaire (US$) from almost nothing a decade ago. He has investments in companies like Twitter, Uber, Instagram, Stripe, Kickstarter, and many more. In 2015, Chris was ranked 3rd on Forbes’ 94th Midas List of technology’s 100 top investors.
Success is not a linear path, there are ups and downs along the way.
If someone comes up to you and tells you Chris Sacca’s failed investment stories you would conclude he is a failure. How could he miss such great investment opportunities? Most often we view success as a linear path that has a single point of arrival. Any disruption to this linear path points to failure. That is the wrong perspective to view success from.
Lessons from Chris Sacca
Success is not a single point at which you arrive and you stop. The individuals that achieve great success know this, so when they achieve their initial goals they don’t just stop there. They keep going. There is always room for improvement. Similarly, if you have your own goals and ambitions, don’t get complacent. Keep going.
This is lesson one: Even when you have done well, you should keep going. There is always room for improvement.
Learn from your failures and missed opportunities. Chris Sacca could have given up and stopped investing when he failed with Dropbox and Airbnb. He did not let that stop him. Chris used those failures as lessons for next time and grew from them. It explains why he has managed to go on and make so many great investments. You must learn from your failures and grow from them. One failure does not define you, remember the path towards success is not linear. Even if you fail at something ambitious, it’s very difficult to fail completely. People don’t always understand that.
This is lesson two: Don’t let your failures define you, instead learn from them and keep moving.
When you look at your own life you will be able to identify missed opportunities and failures. Everyone has them, nobody is perfect. You will also be able to identify things in your life that were once difficult but are now easy because you have grown to master them. This combination of learning from failure and continuing to learn and grow even when you are doing well will take you far in life. Just keep on moving!