LinkedIn's Reid Hoffman: Here's What It's Like To Be Ridiculously Rich Read more: http://www.businessinsider.com/linkedins-reid-hoffman-heres-what-its-like-to-be-ridiculously-rich-2012-9#ixzz268J4IYDR
"What's it like to be ridiculously wealthy?"
Venture capitalist Michael Arrington posed that question to LinkedIn chairman Reid Hoffman at the TechCrunch Disrupt conference in San Francisco today.
It's the obvious question to ask Hoffman, whose net worth has been enormously boosted by his company's IPO last year—as well as Facebook's more recent stock offering.
His stakes in the two companies are worth about $2.8 billion.
The biggest change has come in his dealings with nonprofits and educational institutions, Hoffman said.
He'd been talking to some schools about joining them in a part-time academic capacity, teaching some classes.
"All of those conversations suddenly changed into donor relationships," said Hoffman. "And they're bringing along the chancellor of the school. You're approached as a quasi cash register."
Aside from that, the main change was flying private.
"It's so weird as something to whine about on stage," Hoffman said. "But it's far more convenient."
Sometimes, Hoffman said, he's the only one on the plane besides the pilot, which he seemed to find disconcerting.
What hasn't changed: Hoffman's Silicon Valley uniform. He wore a black T-shirt, black jeans, and sneakers on stage.
Reid Hoffman: LinkedIn Got Better When Twitter Shut Us Off, Move Was “Partial Bullshit”
LinkedIn founder Reid Hoffman discussed the removal of Twitter’s feeds from its product, even though it was not their decision.
Hoffman says at TechCrunch Disrupt in San Francisco that its product is better off without all of the noise that cross-posting from Twitter brought. When Michael Arrington pushed Hoffman on stage to call the move “bullshit”, Hoffman certainly didn’t disagree. Pushing forward, Arrington tried to get him to say that the API shutdown was “bullshit,” but the two ended up settling on “partial bullshit”.
"We were alarmed, one of the things that we wanted was the liquidity of the set of a status updates, and thought that it was a natural part of the Twittersphere. We were pleasantly surprised at the fact that the product got better"
Having said all of that, Hoffman did say that the company worked really hard to keep Twitter integrated into its offerings. It sounded like Facebook was way nicer to Hoffman.
The conversation on the platform has now become more business-focused, which makes complete sense when you think about all of the random things that you read on Twitter daily. It actually stopped me from using LinkedIn al-together, but since Twitter has been gone, I’ve been enjoying my return.
Of course, LinkedIn has done its own API-cutting, and this is a very real reality that developers are going to have to start preparing for.
It worked out for LinkedIn, but will it work out for everyone else that has made Twitter a big part of their product? Time will tell.
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