How are the world’s richest startups born? They’re not born; they’re made. Wrought one bit at a time from a harebrained, middle-of-the-night idea. That’s how founders go from bootstrapping an air mattress on the floor of their apartment to becoming a serious threat to the hospitality industry. It’s not just persistence, but persistent pivoting that wins the race, according to Navin Chaddha (pictured), partner of Mayfield Fund LLC.

The difference between Airbnb Inc.’s founders and anyone else who’s ever rented a room in their house is the long-term vision that can see around corners, according to Chaddha. These are the types of people venture capitalists are wise to bet on, even if their initial business plan isn’t perfect.

“People make products; products don’t make people,” Chaddha said.

Chaddha spoke with John Furrier (@furrier), host of theCUBE, SiliconANGLE Media’s mobile livestreaming studio, during the Mayfield People First event in Menlo Park, California. In a special segment introducing the video series dedicated to the event, the duo discussed People First Network’s mission to hasten entrepreneurs to the echelon of Lyft Inc., Airbnb, etc. (* Disclosure below.)

Picking the brains of battle-axe entrepreneurs

One startup near and dear to Chaddha, Lyft, began much like Airbnb, quite removed from its current form. Mayfield backed Lyft for its Series A funding round because the founders demonstrated the drive to carry their startup wherever it ought to go. Founders’ intermediate failures en route to success are actually priceless gems of wisdom, Chaddha explained. Mayfield’s People First Network aims to connect founders with seasoned entrepreneurs who can gift those gems and perhaps shorten the path to prosperity.

“People like me were extremely lucky to have mentors along the way when I was an entrepreneur, and now as a venture capitalist, for helping me achieve my dreams,” Chaddha said. People First has tapped the likes of John Chambers, ex-chairman and chief executive officer of Cisco Systems Inc.; John Zimmer, president and co-founder of Lyft; and John Hennessy of Stanford University. The network has more than 20 mentors altogether.

Hennessy, who founded MIPS Computer Systems Inc., recently spoke to theCUBE about the rocky road he traversed bringing the company into the real world. “I was an engineer. I knew a lot about the technology we were building. I didn’t know anything about starting a company,” he said.

Surviving constant funding suspense, layoffs, and other dramas made him a better teacher, he explained. He is now disseminating his hard-won wisdom to startup hopefuls in the People First Network.

“Our hope is when those luminaries from their professions share their learnings, the entrepreneurs will benefit from it,” Chaddha concluded.

Watch the complete video interview below, and be sure to check out more of SiliconANGLE’s and theCUBE’s coverage of the Mayfield People First event. (Disclosure: TheCUBE’s coverage of the Mayfield People First event is presented by Mayfield Fund LLC.)

Photo: SiliconANGLE