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Given the ongoing @WeWork fallout, it's worth revisiting our note that explored why someone would ever dream it possible to build a trillion-dollar technology behemoth.
What makes a founder think he can tame a unicorn? 1/9 https://threebody.capital/blog/2019/10/4/anatomy-of-a-tech-founder
What makes a founder think he can tame a unicorn? 1/9 https://threebody.capital/blog/2019/10/4/anatomy-of-a-tech-founder
Our note discussed what makes these modern day titans tick, and we were careful not to aggrandise the Musks, Kalanicks and Neumanns of this world.
Some will be remembered fondly as superheroes. Others will be (rightly or wrongly) demonised and forgotten. 2/9
Some will be remembered fondly as superheroes. Others will be (rightly or wrongly) demonised and forgotten. 2/9
The purpose of our piece wasn't to deride founders.
At @3bodycapital, we're embarking on our own entrepreneurial journey, so we have huge respect for those doing it the right way. There are countless incredible entrepreneurs out there creating value. 3/9 https://threebody.capital/blog/2018/12/30/and-heres-how-it-all-started
At @3bodycapital, we're embarking on our own entrepreneurial journey, so we have huge respect for those doing it the right way. There are countless incredible entrepreneurs out there creating value. 3/9 https://threebody.capital/blog/2018/12/30/and-heres-how-it-all-started
In fact, we love heroes. We need heroes more so now than ever.
As both business owners and consumers, we need to know success can come to those with the creativity, guts, risk appetite and work ethic to make the seemingly impossible happen. 4/9
@wolfejosh @patrick_oshag @jsmian
As both business owners and consumers, we need to know success can come to those with the creativity, guts, risk appetite and work ethic to make the seemingly impossible happen. 4/9
@wolfejosh @patrick_oshag @jsmian
Also, being a founder is not a lifestyle choice.
Being a founder is HARD. It means sacrificing important things, like time with family, income, security. Everything carries an opportunity cost, even opportunity itself.
And it likely won't work out. 5/9 https://hbr.org/2008/02/the-founders-dilemma
Being a founder is HARD. It means sacrificing important things, like time with family, income, security. Everything carries an opportunity cost, even opportunity itself.
And it likely won't work out. 5/9 https://hbr.org/2008/02/the-founders-dilemma
But, as we're discovering, not everyone does it right.
Some abuse their privilege. Others oversee toxic cultures that facilitate harassment, retaliation and bullying. And some play fast and loose with securities laws. 6/9 https://www.bloomberg.com/news/articles/2019-10-22/adam-neumann-era-of-excess-and-eccentricity-is-over-at-wework
Some abuse their privilege. Others oversee toxic cultures that facilitate harassment, retaliation and bullying. And some play fast and loose with securities laws. 6/9 https://www.bloomberg.com/news/articles/2019-10-22/adam-neumann-era-of-excess-and-eccentricity-is-over-at-wework
Like these 'bad apple' founders, we're all a product of our time.
And our time just happens to be highly supportive of asymmetric risk-taking (heads they win, tails you lose) on the part of unscrupulous founders.
It's likely we have only scratched the surface with @WeWork. 7/9
And our time just happens to be highly supportive of asymmetric risk-taking (heads they win, tails you lose) on the part of unscrupulous founders.
It's likely we have only scratched the surface with @WeWork. 7/9
Some founders will be the geniuses they claim to be. Others will be exposed as charlatans.
By unpacking the ubiquity of the tech founder, we are reminded of the dangers of hero-worship, the ubiquity of misalignment, and the perilous oversimplification of complex narratives. 8/9
By unpacking the ubiquity of the tech founder, we are reminded of the dangers of hero-worship, the ubiquity of misalignment, and the perilous oversimplification of complex narratives. 8/9
Where we recognise our need for heroes, we also embrace our individual potential for greatness.
And the only way to manifest this potential and fix the problem at the heart of technology is through realignment.
And that's why we're building @3bodycapital. ENDS
And the only way to manifest this potential and fix the problem at the heart of technology is through realignment.
And that's why we're building @3bodycapital. ENDS
