ReadWriteMix: Keith Rabois on Power Laws and Value Creation in Silicon Valley

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It was a lively night at ReadWriteMix as ReadWrite editor-in-chief Owen Thomas hosted angel investor and entrepreneur turned professional venture capitalist Keith Rabois at Say Space in San Francisco to talk about the next trillion dollars in Silicon Valley. There were lots of great lines and revelations from Keith including how he looks for startups that are intentionally taking on risk, how Facebook's purchase of Instagram was brilliant, and why the next trillion dollars lies in companies that are math breakthroughs or science breakthroughs: companies that analyze data in rigorous and then throw a UI on it for incredible new experiences that were never available before.

ReadWrite will be posting an in-depth recap and some video highlights from the evening soon. Update: Catch the ReadWrite video of the event here. In the meantime, here are some favorite moments from the crowd which was live-tweeting the event:

@rabois: if you're going to build a long lasting, successful company, you'll need to become a publicly traded co. #ReadWriteMix

— Selena Larson (@selenalarson) August 22, 2013

"Yelp is still the only way to make local commerce decisions at scale" - @rabois at #ReadWriteMix

— Mitali Pattnaik (@mitali) August 22, 2013

90% of yelp users make commerce decision w/in 1 week @rww @rabois #ReadWriteMix #siliconvalley

— Jon Greer (@jongreer) August 22, 2013

"You have to be both contrarian AND right to make any money in this industry" - @rabois on venture @ #readwritemix

— Dan Strickland (@strickland_dan) August 22, 2013

Google would be more vulnerable if it didn’t own YouTube @rww @rabois #ReadWriteMix #siliconvalley

— Jon Greer (@jongreer) August 22, 2013

Most companies that sell, sell out of fear. @rabois #readwritemix

— Selena Larson (@selenalarson) August 22, 2013

Facebook acquiring Instagram and Google acquiring YouTube were brilliant defensive moves - @rabois #readwritemix

— TECHNIACS (@techniacs) August 22, 2013

If u stripped PayPal from eBay eBay would have no value @rww @rabois #ReadWriteMix #siliconvalley

— Jon Greer (@jongreer) August 22, 2013

Keith artfully ducks question about @davidmarcus performance at PayPal. #readwritemix

— Rakesh Agrawal (@rakeshlobster) August 22, 2013

Healthcare today is a practice of medicine, not a science of medicine. We're going to help change that. @rabois #readwritemix

— Selena Larson (@selenalarson) August 22, 2013

Keith @Rabois: Sequoia prefers to invest in immigrants! #readwritemix @RWW

— OXYGEN (@Oxygen_PR) August 22, 2013

.@rabois says it's not hard to come out as a conservative in the Valley. SF, that's another story #readwritemix

— Amy Ziari (@aziari) August 22, 2013

Thanks to everyone who turned out and made it a great evening. We'll see you at the next ReadWriteMix!