Powerful ideas from top nonfiction
Try Blinkist to get the key ideas from 7,500+ bestselling nonfiction titles and podcasts. Listen or read in just 15 minutes.
Start your free trial
Blink 3 of 8 - The 5 AM Club
by Robin Sharma
Listen to the Intro
No Red Lights summary
Alan Patricof
Reflections on Life, 50 Years in Venture Capital, and Never Driving Alone
29 mins
Brief summary
No Red Lights by Alan Patricof is a memoir of a legendary investor's career in venture capital. It offers insights into the fast-paced world of tech startups, along with lessons on seizing opportunities and taking risks.
Table of Contents
No Red Lights
Summary of 12 key ideas
Audio & text in the Blinkist app
Key idea 1 of 12
Never forget the fundamentals – no matter what industry you’re in.
The year was 1955, and the author, Alan Patricof, had just graduated college. In the sweltering July heat, he walked the streets of lower Manhattan searching for a job.
He started at the bottom of the block, at 110 Wall Street. In every building he entered, he rode the elevator to the top and stopped in every office until he reached the bottom. It took him nearly three months until this resulted in something promising: a securities analyst trainee position at a firm that Alan had previously never heard of.
That firm was Naess & Thomas, and it belonged to a famous Norwegian economist named Ragnar Naess. In Naess, Patricof had found a top-notch mentor, someone who could teach him the most essential part of any business career: the fundamentals.
The fundamentals are going to be different depending on the particular type of business you’re in, but let’s take venture capital as an example.
In the investing business, net free cash flow is perhaps the most important foundational principle. It refers to the amount of cash a company has available for stockholders after taking expenses into account.
Why is that important? Well, investors can’t support a company forever. Eventually, it needs to turn a profit independently. And if you, as an investor, discover that there’s really no demand for the company’s product – if the net free cash flow isn’t high enough – you’ll need to drop it.
As you gain experience in your industry, you’ll probably end up developing your own list of fundamental principles that inform everything you do. Alan himself has his own framework of four key fundamentals that a company must satisfy before he’ll invest in it. Those four are: a large enough market, a product that clearly addresses a need, sound economics, and a competent management team. Thanks to Alan’s focus on these fundamentals, his companies have successfully turned a profit from investments in countless well-known companies, like Office Depot, Venmo, and HuffPost.
A focus on fundamentals will keep you grounded in the often heady world of business and make it more likely that your company will stand the test of time. Of course, even with a rock-solid core of fundamentals, success isn’t necessarily guaranteed, as you’ll see next.
Want to see all full key ideas from No Red Lights?
Key ideas in No Red Lights
More knowledge in less time
Read or listen
Get the key ideas from nonfiction bestsellers in minutes, not hours.
Find your next read
Get book lists curated by experts and personalized recommendations.
Shortcasts New
We’ve teamed up with podcast creators to bring you key insights from podcasts.
What is No Red Lights about?
No Red Lights (2022) is part-autobiography, part-guidebook to assembling the core fundamentals of your career. Geared primarily toward aspiring venture capitalists but helpful for anyone interested in business, it’s packed with instructive lessons and useful advice. Simultaneously, it is a glimpse into the life of man who’s spent 50 years learning – and living – the tricks of the trade.
No Red Lights Review
No Red Lights (2021) is a thought-provoking book that sheds light on the life and career of Alan Patricof, a prominent venture capitalist. Here's why this book is worth reading:
- The book offers valuable insights into the world of venture capitalism, revealing the strategies and lessons learned from Patricof's successful career.
- With a behind-the-scenes perspective, it takes readers on a journey through the highs and lows of the industry, showcasing the risks and rewards of venture capital.
- Through personal anecdotes and candid stories, it provides a compelling glimpse into the lives of influential business leaders and the impact they have on shaping industries.
Who should read No Red Lights?
- Aspiring venture capitalists and other businesspeople
- Business students in search of tried-and-true advice
- Memoir and autobiography fans
Categories with No Red Lights
Book summaries like No Red Lights
People ❤️ Blinkist
Sven O.
It's highly addictive to get core insights on personally relevant topics without repetition or triviality. Added to that the apps ability to suggest kindred interests opens up a foundation of knowledge.
Thi Viet Quynh N.
Great app. Good selection of book summaries you can read or listen to while commuting. Instead of scrolling through your social media news feed, this is a much better way to spend your spare time in my opinion.
Jonathan A.
Life changing. The concept of being able to grasp a book's main point in such a short time truly opens multiple opportunities to grow every area of your life at a faster rate.
Renee D.
Great app. Addicting. Perfect for wait times, morning coffee, evening before bed. Extremely well written, thorough, easy to use.
People also liked these summaries
4.7 Stars
Average ratings on iOS and Google Play
33 Million
Downloads on all platforms
10+ years
Experience igniting personal growth
No Red Lights FAQs
What is the main message of No Red Lights?
The main message of No Red Lights is to embrace opportunities and live life to the fullest.
How long does it take to read No Red Lights?
The reading time for No Red Lights varies depending on the reader's speed, but it typically takes several hours. However, the Blinkist summary can be read in just 15 minutes.
Is No Red Lights a good book? Is it worth reading?
No Red Lights is a captivating read that provides valuable insights and inspiration. It's definitely worth your time.
Who is the author of No Red Lights?
The author of No Red Lights is Alan Patricof.
What to read after No Red Lights?
If you're wondering what to read next after No Red Lights, here are some recommendations we suggest:
- The Contrarian by Max Chafkin
- How to Talk to Anyone by Leil Lowndes
- On the Edge by Nate Silver
- 7 Strategies for Wealth & Happiness by Jim Rohn
- Mastery by George Leonard
- The Singularity Is Nearer by Ray Kurzweil
- The Richest Man in Babylon by George S. Clason
- The Mind's Mirror by Gregory Mone
- 12 Rules For Life by Jordan B. Peterson
- The Daily Laws by Robert Greene