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As the co-founder of popular business social network LinkedIn, Reid Hoffman knows a thing or two about successfully launching a startup. In this Entrepreneur Thought Leader Lecture given at Stanford University, he details the rules he has historically used when creating a venture: Look for disruptive change, aim high, build a network around your company, plan for good and bad luck and maintain flexible persistence. Most importantly, he says, remember these rules are just rules of thumb by which you navigate – they’re not carved in stone.

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