Joe Lonsdale on the most important hiring lesson he learned from Peter Thiel

But it's, I mean, credit to them for betting on you to be able to, to do that versus, you know, they could have hired somebody who's been doing that for 20 years.

This is New York. We talk about lessons from Peter Thiel. I think one of the most important ones I've seen from him that I've definitely taken to heart and what I've done is I'd much rather. I'd much rather hire for talent and ambition and hard work than hire for expertise. So almost. And there's exceptions, right? So if you have a company that's already really working and already really scaling and there's like a machine that has to be run, you want to hire the guy who knows how to run the machine. That's fine. That's the operator who knows what they're doing already. But before you've actually built the machine or when you're doing something with a group in high finance or whatever, you want to hire for raw IQ and hard work and just iterating and figuring it out. And that's a different skill set than the people who run the machines.