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That's how I took it as well. I remember reading from Max Levchin (?) that a company should hire people exactly like them, culturally, early on. This helps red
by xasos 11y ago
That's how I took it as well. I remember reading from Max Levchin (?) that a company should hire people exactly like them, culturally, early on.
This helps reduce unnecessary conflict when the only thing you're focused on is growth. A prime example is why early startup employees come from the same school as the founders.
I think later on, bigger companies focus on talent and culture equally (for the most part).
- kybernetikos 11y agoHiring people culturally similar may sounds sensible in theory, but it may not be sensible in practice. I haven't seen stats on startup hiring, but I read this about investment, which in my opinion stands a good chance of having a similar effect: http://hbswk.hbs.edu/item/7069.html http://hbswk.hbs.edu/item/7069.html "The probability of a successful exit outcome decreases by 18 percent if two venture capitalists who previously worked at the same company partner up in the syndication. The likelihood of success drops by 22 percent if co-investors attended the same undergraduate school. The negative effect of shared affinity is even stronger when it relates to ethnicity: Collaborating with someone from the same ethnic minority group comes at the expense of a 25 percent reduction in performance."
- prodigal_erik 11y agoMaybe investors are more properly skeptical about dumb opportunities proposed by someone with a dissimilar background. Founders and employees have a much greater need to work together day-to-day and trust each others' judgment.
- kybernetikos 11y agoIt's certainly plausible. I can tell a plausible story from the other side though - the primary feature of being a start up is learning, and if it's an echo chamber you're going to be learning the wrong things and relying on things other than facts to dictate your business strategy.