Leading a start-up is all-consuming. Company leadership is doing everything at once, never has enough time, and is making quick decisions that can make or break their personal wealth. It’s not surprising that keeping the company paperwork tidy is not a priority.
Beware of “facts.” In our pursuit of data-driven decisions, we tend not to question facts, and rather focus on their implications. This is when big mistakes can happen. Consider the words of Peter Drucker, arguably the greatest management scholar of the past century:
“The customer rarely buys what the business thinks it sells him.” I often use this quote from the great Peter Drucker to help explain the concept of Jobs to be Done (I took it from Clay Christensen, who did the same). But the quote goes much further, and it relates to much more. Consider these examples:
First Republic grew like a weed through its innovative business model. From 2011 (right after its IPO) to 2022, its assets increased roughly 10-fold. Then it went off the rails. The story holds lessons for innovators everywhere.
Company cultures will need to change if AI is to thrive in them. After all, powerful AI can ultimately upend work practices and jobs.
