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Uri Levine is the co-founder of Waze, the world\u2019s largest community-based traffic and navigation app, acquired by Google for over $1 billion. He\u2019s also founded nine other companies, been on the board of 20 companies, and advised more than 50 companies. He\u2019s most recently the author of Fall in Love with the Problem, Not the Solution: A Handbook for Entrepreneurs, hailed by Steve Wozniak as the \u201cBible for entrepreneurs.\u201d 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:

\u2022 Why falling in love with the problem is key to startup success

\u2022 The phases of the startup journey and how to navigate them

\u2022 Why firing is more important than hiring

\u2022 How Waze iterated to achieve product-market fit

\u2022 Tactics for telling a compelling story when fundraising

\u2022 Much more

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Find the transcript at: https://www.lennysnewsletter.com/p/lessons-from-uri-levine

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Where to find Uri Levine:

\u2022 X: https://twitter.com/urilevine1

\u2022 LinkedIn: https://www.linkedin.com/in/uri-levine

\u2022 Website: https://urilevine.com/

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Where to find Lenny:

\u2022 Newsletter: https://www.lennysnewsletter.com

\u2022 X: https://twitter.com/lennysan

\u2022 LinkedIn: https://www.linkedin.com/in/lennyrachitsky/

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In this episode, we cover:

(00:00) Uri\u2019s background

(02:50) Falling in love with the problem

(09:03) Signs this is a big enough problem

(10:54) The importance of passion

(12:06) A pivot example

(14:01) Where to find startup ideas

(21:57) Finding product-market fit at Waze

(29:45) The different phases of a startup journey

(36:47) What investors don\u2019t want to hear

(39:53) Fundraising tips

(48:02) How to make your presentations stronger

(50:32) A wild fundraising story

(53:46) Firing and hiring

(59:50) The 30-day test

(01:04:12) Understanding users

(01:12:10) Talking to the right users

(01:15:36) Lightning round

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Referenced:

\u2022 Fall in Love with the Problem, Not the Solution: A Handbook for Entrepreneurs: https://www.amazon.com/Fall-Love-Problem-Solution-Entrepreneurs/dp/1637741987

\u2022 Waze: https://www.waze.com/

\u2022 Ben Horowitz on LinkedIn: https://www.linkedin.com/in/behorowitz/

\u2022 Ben Horowitz quote: https://quotefancy.com/quote/1635284/Ben-Horowitz-As-a-startup-CEO-I-slept-like-a-baby-I-woke-up-every-2-hours-and-cried

\u2022 Michael Jordan quote: https://www.forbes.com/quotes/11194/#:~:text=I've%20lost%20almost%20300,that%20is%20why%20I%20succeed.

\u2022 Steph Curry: https://en.wikipedia.org/wiki/Stephen_Curry

\u2022 How Airbnb Used Word of Mouth to Change the Travel Industry Forever: https://truested.com/story/airbnb

\u2022 Space Mountain: https://en.wikipedia.org/wiki/Space_Mountain_(Disneyland)

\u2022 How Netflix builds a culture of excellence | Elizabeth Stone (CTO): https://www.lennysnewsletter.com/p/how-netflix-builds-a-culture-of-excellence

\u2022 Steve Wozniak on LinkedIn: https://www.linkedin.com/in/wozniaksteve/

\u2022 Uri\u2019s post about the conference in Guatemala with Steve Wozniak: https://www.linkedin.com/posts/uri-levine_jewishnewyear-speakers-book-activity-6980089544079486976-0ADa/

\u2022 Leonardo da Vinci quote: https://www.goodreads.com/quotes/9010638-simplicity-is-the-ultimate-sophistication-when-once-you-have-tasted

\u2022 Geoffrey Moore on finding your beachhead, crossing the chasm, and dominating a market: https://www.lennysnewsletter.com/p/geoffrey-moore-on-finding-your-beachhead

\u2022 Nana Korobi Ya Oki: https://ikigaitribe.com/vlog/nana-korobi-ya-oki/

\u2022 That Will Never Work: The Birth of Netflix and the Amazing Life of an Idea: https://www.amazon.com/That-Will-Never-Work-Netflix/dp/0316530204

\u2022 Atomic Habits: An Easy & Proven Way to Build Good Habits & Break Bad Ones: https://www.amazon.com/Atomic-Habits-Proven-Build-Break/dp/0735211299

\u2022 8 Great Chess Apps for Beginners and Grand Masters: https://www.wired.com/story/best-chess-apps/

\u2022 Pontera: https://pontera.com/

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Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.

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Lenny may be an investor in the companies discussed.