I listen to startup podcasts so you don’t have to.
"What went wrong was we had the wrong venture capitalists on the board...In my opinion, it was Bill Gurley at Benchmark...They...decided to go after Travis."
• Choose board members who align with your long-term vision. • Be proactive in communication with your board. • Understand the potential risks of board conflicts."Emil kicked off that fundraising...they would line up the investors outside so they all saw each other in the hallway...very efficient process...We started off at 10...Emil was able to negotiate...to 17 because there was so much competition."
• Create urgency and competition among investors. • Use scarcity to drive up valuation. • Efficient processes can streamline large raises."We came up with like a whole playbook, including getting celebrities to come in...It helped to have a celebrity be rider zero or rider one...We replicated that playbook all over the world."
• Leverage influencers to boost brand awareness. • Tailor marketing strategies to local cultures. • Develop repeatable playbooks for scaling."So Travis and I basically divided and conquered, and we both worked on getting Emil...At one point, he said...he wanted a president title...So Travis didn't like titles. So he said, tell him, he can be president of himself on the business card."
• Customize your approach to appeal to candidates' motivations. • Collaborate with others to attract talent. • Be open to negotiation but stay true to your company's culture."So I basically bombarded Travis with references. So I had like Drew Houston, who was a dear friend, Sheryl Sandberg, Julius Genachowski, all telling him, 'You need to meet with Shervin.' And finally, Travis said, you know, he's publicly said this, that he met with me because he had no choice."
• Leverage your network to get warm introductions to key people. • Don't give up after initial setbacks; stay on their radar. • Be ready to act swiftly when opportunities arise.