Gokul Rajaram has been part of building some of the largest advertising platforms in history: Google AdSense andFacebook's mobile-first ad platform. Now as founding partner of Marathon Management Partners, he's applying those lessons to early-stage investing while serving on boards like Pinterest, Coinbase, and The Trade Desk.

We covered the core principles behind successful advertising platforms, how AI is fundamentally changing content recommendations and monetization, and what the transition from operator to investor actually looks like. Gokul shared insights on the nuances of founder mode leadership, why complementary number-two relationships matter, and his contrarian take on work-life balance for ambitious builders.

The conversation reveals how someone who's been inside multiple generational companies thinks about leadership, strategy, and what it takes to build something that's never been done before.

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You can find Auren Hoffman on X at @auren and Gokul Rajaram on X at @gokulr

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