Masters Of Scale With Reid Hoffman

This past summer, Fidji Simo departed from Facebook – where she stood among the highest-ranking female executives, serving as the head of their app – for the opportunity to become a first-time CEO at Instacart. She replaced founder Apoorva Mehta, who appeared on this show last spring to talk about Instacart’s incredible COVID-fueled growth. Since then, Fidji has emphasized an evolved company mission, diversifying the company’s leadership and focusing on providing the necessary technology to help grocery retailers best serve their customers. As you’ll hear Fidji mention in the episode, she was raised in a French-Sicilian family where food anchored their daily life. “To me, Instacart’s mission resonated deeply, and I saw a very big opportunity.”Read a transcript of this episode: https://mastersofscale.comSubscribe to the Masters of Scale weekly newsletter: https://mastersofscale.com/subscribeSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-n

This week, we’re returning to an episode of Masters of Scale featuring Ben Chestnut, the co-founder and CEO of Mailchimp. The email marketing platform was acquired this year by Intuit in a multi-billion-dollar deal that closed this month. Hear how Chestnut used a DIY ethos to grow the company without ever raising a dollar of outside funding. The Mailchimp story is the exception to Reid's rule (always raise more money than you think you need!). The episode explores a range of options for those who don't fit the VC-funding mold. Cameo appearances: LeVar Burton (Star Trek, Reading Rainbow, LeVar Burton Reads), Don MacKinnon (Milq), Karen Cahn (iFundWomen).Read a transcript of this episode: https://mastersofscale.comSubscribe to the Masters of Scale weekly newsletter: https://mastersofscale.com/subscribeSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Many of us attempt to shift gears during the holidays, spend quality time with people we love, and refresh. But too often, we end up glued to our devices – catching up on work, avoiding complex people, or simply addicted to that screen. In an episode from our sister podcast, Meditative Story, host Rohan Gunatillake shares three calming techniques to help you navigate tricky family dynamics, the challenges of disconnecting from work, and the loneliness that can arise at even the most joyful times of year.Meditative Story combines immersive first-person stories and music with the science-backed benefits of mindfulness practice. The lessons are just as vital as the ones we explore in Masters of Scale. And you can find much more at meditativestory.comRead a transcript of this episode: https://mastersofscale.comSubscribe to the Masters of Scale weekly newsletter: https://mastersofscale.com/subscribeSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.co

Reid Hoffman and Rapid Response host Bob Safian break down what you need to know right now about the most important issues and opportunities impacting entrepreneurs. The co-hosts dive into inflation reactions, Facebook quandaries, metaverse mania, AI & crypto trends, and lessons from the Great Resignation. Plus: why LinkedIn pulled back in China, and what pundits are missing in the big tech backlash. "We should be playing into the future with ambition, with heart, with soul, with speed," says Reid.Listen to the episodes mentioned in this interview:Andrew Wilson (Electronic Arts): http://listen.mastersofscale.com/EAsAndrewWilsonRRSarah Hirshland (U.S. Olympic & Paralympic Committee): http://listen.mastersofscale.com/USOPCsSarahHirshlandRRIndra Nooyi (PepsiCo: http://listen.mastersofscale.com/PepsiCoIndraNooyiRead a transcript of this episode: https://mastersofscale.comSubscribe to the Masters of Scale weekly newsletter: https://mastersofscale.com/subscribeSee Privacy Policy at https

In May 2020, as companies began making promises about how they’d help Black-owned businesses in the wake of George Floyd’s killing, Aurora James launched the 15 Percent Pledge initiative with an Instagram post. Tagging major retailers, she declared that 15% of retail shelf space should belong to Black-owned businesses. And she's helped these companies turn promise into action, unlocking $10 billion in revenue for Black-owned businesses. It's a relatable story for any small business or team: the tactics and strategies that allow one small but dedicated effort to deliver outsized results.  Read a transcript of this interview at: mastersofscale.comSubscribe to the Masters of Scale weekly newsletter: https://mastersofscale.com/subscribeSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Your board of directors can make or break you. In fact, Reid believes, the wrong board member can break your company faster than the right board member can make it. Learn the five vital mindset shifts that can help you create a better board, with insights from Mellody Hobson, the co-CEO of Ariel Investments and the chair of the Starbucks board, along with Lisa Shalett, co-founder of Extraordinary Women on Boards, and Shishir Mehrotra, founder and CEO of Coda (Reid's on their board). These universal lessons don’t only speak to founders assembling their very first board, or board directors looking for best practices – they also offer important advice for team-building across the board.Read a transcript of this episode: https://mastersofscale.comSubscribe to the Masters of Scale weekly newsletter: https://mastersofscale.com/subscribeSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Eric Schmidt, former CEO of Google, breaks down his deep insights around artificial intelligence on Rapid Response. Schmidt, co-author of the new book "The Age of AI: And Our Human Future," alongside Dr. Henry Kissinger and MIT’s Daniel Huttenlocher, says that we’re entering an unknown era with technology – one that requires extra vigilance to ensure that we amplify the positives and de-amplify the negatives. His advice to businesses: You need to be running as fast as you can toward AI applications. If your competitor gets there first, you'll be in trouble. Schmidt argues that AI will change business, society, and potentially humanity itself. "It's important that our systems not enable the worst of us, but instead promote the best of us,” he says.Read the new book "The Age of AI: And Our Human Future" from Henry Kissinger, Eric Schmidt, and Daniel Huttenlocher: https://www.barnesandnoble.com/w/the-age-of-ai-henry-a-kissinger/1139558876?ean=9780316273800Read a transcript of this interview at: ma

Too often, companies only focus on the type of scale that’s visible: massive campuses, thousands of workers, offices around the globe. But as Land O’Lakes proves, there are less conspicuous ways to scale – ways that supply your business with structural integrity. This is something CEO Beth Ford knows well. She’s strategically scaled Land O’Lakes – often beneath the surface of what the average consumer sees. As she puts it: “We have to treat our business like the ecosystem it is." Cameo appearances by: Tim Maltin (Titanic expert) and Lukas Fricke (farmer).Read a transcript of this episode: https://mastersofscale.comSubscribe to the Masters of Scale weekly newsletter: https://mastersofscale.com/subscribeSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Skepticism and doubt are no strangers to John Foley, the CEO of Peloton. As he says, it’s been part of the company’s DNA “since the first time I pitched the business to an investor back in 2012.” Last year, the company was supercharged by pandemic demand. However, in 2021, the company has faced a slew of new headwinds, from product-safety issues to investor skepticism. In the face of these challenges, Peloton has doubled down on innovation and ambition. Foley doesn’t see skepticism about Peloton as a sign of weakness. He expects it, and learns from it.Read a transcript of this interview at: mastersofscale.comSubscribe to the Masters of Scale weekly newsletter: https://mastersofscale.com/subscribeSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

How do you respond when your own users resist your data? That question is top-of-mind for Nielsen CEO David Kenny. For decades, Nielsen has measured ratings and demographics across TV and media – the ultimate designator of success and failure. But as industry norms shift to streaming, Kenny has had to revamp processes and expectations, absorbing heat from traditional customers. As he notes, nostalgia is the opposite of optimism – it assumes that a known past is better than an unknown future. And for Kenny, he’s choosing optimism.Read a transcript of this interview at: mastersofscale.comSubscribe to the Masters of Scale weekly newsletter: https://mastersofscale.com/subscribeSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Want to improve any idea? Find someone who disagrees with it. This is something legendary investor Ray Dalio knows. But there’s a difference between constructive and destructive conflict – and Dalio is a master at spotting the difference. In constructive conflict, a team has a shared goal, whether or not they have differing opinions. And this is the key to success. Cameo appearances: Steve Horgan (USA Field Hockey Director of Umpiring), Daniel Amen (psychiatrist, founder of Amen Clinics).Read a transcript of this episode: https://mastersofscale.comSubscribe to the Masters of Scale weekly newsletter: https://mastersofscale.com/subscribeSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Since stepping down as Walmart’s president of e-commerce at the beginning of the year, billionaire entrepreneur Marc Lore has had a busy year of big ideas. In the spring, it was announced that he reached a deal to purchase the NBA’s Minnesota Timberwolves and the WNBA’s Minnesota Lynx, alongside Alex Rodriguez. And then last month, he outlined his plans to build a new American city called Telosa, centered around sustainability and inclusion. Lore, who co-founded Jet.com, an e-commerce company that sold to Walmart in 2016, says that he approaches these moonshot ideas in the same manner: by reverting to the fundamentals and naming the mission and values. "VCP: vision, capital, people,” he says. “If you get VCP right, everything else falls in place."Read a transcript of this interview at: mastersofscale.comSubscribe to the Masters of Scale weekly newsletter: https://mastersofscale.com/subscribeSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-

Crowdsourcing is more than a group of people interested in the same cause, it’s a way to tap skills – and scale – that you don’t have. And when it works, it can be the rocket fuel that launches you to scale further than you could have ever imagined. No one knows this better than Luis von Ahn, founder and CEO of Duolingo. Duolingo is a language app with over 300 million users worldwide, who complete over 7 billion exercises a month. It’s their passion for learning that drives them to create even more content for the app – igniting the rocket fuel that Duolingo needs. Cameo appearance by Elizabeth Sampat (game designer and author). Read a transcript of this interview at: https://mastersofscale.com/luis-von-ahn/Subscribe to the Masters of Scale weekly newsletter: https://mastersofscale.com/subscribeSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

In the last year, Sarah Hirshland has had to face one daunting issue after another as the CEO of the U.S. Olympic & Paralympic Committee – each of which have required urgent, in-the-moment decisions. Most recently Sarah mandated that U.S. athletes be vaccinated against COVID-19 to participate in the upcoming Beijing winter games. But that’s just the latest of a slew of cultural issues she’s been tasked to act on. She’s faced pandemic disruptions, social action protests, sexual misconduct scandals, mental health stress, and more. Through all of it, Sarah has been motivating her team around an evolving mission to reflect not just where America is as a country today but where it’s going.  Read a transcript of this interview at: mastersofscale.comSubscribe to the Masters of Scale weekly newsletter: https://mastersofscale.com/subscribeSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Jessica Alba’s approach in founding and building The Honest Company revolves around three letters: IRL, a useful acronym for “In Real Life.” This phrase acts as a reminder for the company to shine the spotlight onto their customer’s real needs – not only to understand them, but to address them as well. Alba built the company around her passion to make childcare and household products that are safe and eco-friendly. By asking her team “What’s the IRL version of this?”, Alba focuses the company to make products that will enhance the customer’s everyday lives. “A lot of these product ideas come from: What do I wish I had to optimize the life experience – and then, how can we do it?” Read a transcript of this episode: https://mastersofscale.comSubscribe to the Masters of Scale weekly newsletter: https://mastersofscale.com/subscribeSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Last year, SolarWinds became the subject of a massive and sophisticated cyberattack, potentially affecting thousands of organizations. CEO Sudhakar Ramakrishna, who joined the company soon after the breach was discovered, speaks with host Bob Safian about how he and the company responded, and how other companies should approach the ever-looming threat of cyber-risk. "There is no such thing as 'I won't be breached because I'm too secure or too smart,’ says Ramakrishna. “You could be breached. And when it happens, be humble. Learn from it, adapt, and act with a sense of urgency." Read a transcript of this interview at: mastersofscale.comSubscribe to the Masters of Scale weekly newsletter: https://mastersofscale.com/subscribeSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

No matter what phase of growth you’re in, data is essential to scale. Take it from Sheila Lirio Marcelo, the founder and former CEO of Care.com, the two-sided marketplace connecting working families with care providers. Marcelo scaled her business past the competition by getting the right data at the right time. Marketplaces are tricky flywheels to get started, and Marcelo used data to help her determine which markets Care.com should pursue first — and when to wait. "Something I coach a lot of entrepreneurs: You can have a great vision and idea, but start with a lot of data and testing,” says Marcelo.Listen to Sonal Shah's Rapid Response episode. "Scaling a mission": https://mastersofscale.com/rapidresponse/shah/Read a transcript of this episode: https://mastersofscale.comSubscribe to the Masters of Scale weekly newsletter: https://mastersofscale.com/subscribeSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

To compete against bigger players, you need a special edge. Sridhar Ramaswamy, who led Google’s huge ad business, is now going head-to head against his former employer with an ad-free subscription-based search engine called Neeva. Ramaswamy became disillusioned by Google’s priorities and practices and argues that big platforms – including Facebook and Amazon – have failed to scale responsibly. Sharing inside stories of how big tech makes decisions, and his own experiences with a startup, Ramaswamy offers lessons on growth, monopolistic threats, and why challenging even great companies is necessary right now. “I’m a tech optimist,” he says, “but we need to be conscious of the good and bad.” A renewed focus on responsible tech scaling is right for the businesses and for society. Read a transcript of this interview at: mastersofscale.comSubscribe to the Masters of Scale weekly newsletter: https://mastersofscale.com/subscribeSee Privacy Policy at https://art19.com/privacy and California P

To get the most out of your talent, you need to create an environment that allows them to thrive. Nobody knows this better than Indra Nooyi who spent 12 years as the CEO of PepsiCo. It was her drive to support talent that underpinned all of the initiatives that transformed the company. Her approach, which she calls “Performance with Purpose,” centers around delivering great financial performance while simultaneously focusing on the company’s environmental impact and creating an environment where employees can bring their whole selves to work. “I looked at each person in my company, not as a tool of the trade,” she says, “but I looked at them as an individual asset that had to bring their head, heart, and hands to the company for us to be successful.”Read a transcript of this episode: https://mastersofscale.comSubscribe to the Masters of Scale weekly newsletter: https://mastersofscale.com/subscribeSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/priva

Your ability to make quick decisions in the face of a crisis can define your career. That’s been the case for Dr. Mary Schmidt Campbell, president of Spelman College, the all-women's HBCU in Atlanta. In her second appearance on Rapid Response, Dr. Campbell, who recently announced her plan to retire at the end of the academic year, discusses how listening to her community has led to resolving complex conflicts. As was the case at the beginning of the school year when the Spelman faculty threatened a last-minute boycott over COVID uncertainty – a potential crisis which Dr. Campbell was able to quickly defuse. From record fundraising to rising U.S. News ratings for Spelman, Dr. Campbell demonstrates how consistent leadership builds confidence and resilience. “I feel that when we have all of the voices and all of the wisdom from all over our campus involved in these big issues,” Dr. Campbell says, “the solutions are ones that end up being good for everybody.”Read a transcript of this interview at: mastersofs