We have consistently found that the best founders and startups build their boards forward from product-market fit—instead of backward from IPO—and approach it like building a presidential cabinet.
Here is a strategic approach to building a board 🧵👇
10 months ago we shut down Atrium after raising $75m in venture capital. Anyone hearing that knows I made tons of mistakes along the way. Someone asked me today what my biggest lessons learned were. Here they are:
Move faster. Slowness anywhere justifies slowness everywhere.
2021 instead of 2022. This week instead of next week. Today instead of tomorrow.
Moving fast compounds so much more than people realize.
Nobody talks about failure in Silicon Valley, yet 90% of startups fail.
Why?
3 yrs ago, @neerajberry and I shut down @Sprig, which raised $60M from @GreylockVC + @socialcapital & grew to $20m revenue.
Then, it all fell apart.
For an honest story about failure,
**Read on**
When someone's audience derives mostly from complaining about some narrow set of problems, they have less incentive to fix them, or even acknowledge progress other people make toward fixing them.
Pay attention to who you have the highest-bandwidth conversations with (i.e., important ideas are exchanged quickly and clearly).
Work with those people any way you can.
@andrewchen None of the mentioned platforms was prepared for 2020. I mean, we have TikTiok vs. Instagram era. I can't understand why new innovative platforms can't succeed.
1/ Tuesday was my last day as CEO of @CircleUp. I’ve been CEO since starting the co. in 2011 with my co-founder @roryeakin.
This is a thread about what happened, why and my emotions about it. For more detail:
https://t.co/vYImcm1bTM
Much of this I have never talked about.
Can't find an example of major innovation where experts who knew too much made change happen! Amazon vs Walmart, Tesla vs GM, Spacex vs. Lockheed, Twitter/Youtube/FB vs media, Genentech vs pharma, AirBnB vs hotels, Uber vs. taxis,... Experts can explain "why not" instead of "why"
8 years ago, I got fired as President and co-founder of @udemy, a now-$2B unicorn
This is a tough story to share, and I’ll try my best to be honest
Fortunately this story ends on a positive note & I hope it’ll be useful to anyone who’s been laid off or fired.
**Read on**