LTSE listing principles

Fifteen years ago, Eric Ries handed a generation of founders a playbook. When Eli was in a Palo Alto-based startup accelerator in 2011, The Lean Startup felt like the only book anyone in that ecosystem was talking about. It was in the middle of a wildly optimistic moment for tech. Marc Andreessen declared that “software is eating the world,” social media was blooming, and there was a widespread belief that technology was about to democratize everything and bring us closer together. Concepts like the MVP (“minimum viable product,”), the pivot, and build-measure-learn became the operating language of Silicon Valley.

This is a preview of a premium episode. Listen to the full interview on our Substack: https://designbetterpodcast.com/p/eric-ries

But a lot of the companies built on those ideas went on to get corrupted by forces Eric hadn’t yet named. His new book, Incorruptible: Why Good Companies Go Bad and How Great Companies Stay Great, is his reckoning with what happens after you build something great — and how to keep it from falling apart.

Buy the book

In this conversation, we get into why speed itself wasn’t the problem, but treating a rising stock price as proof of health is like assuming more exhaust means a faster car. Eric explains why doing the right thing 100% of the time is actually easier than doing it 98% of the time, and how companies behave like superorganisms with their own emergent character — a point he illustrates with a genuinely mind-bending study about ants solving a puzzle that no single ant ever could.

We talk about the “harder is easier” principle through stories from Patagonia and the long-term stock exchange he built as a design challenge, and why the value a company makes comes from the design of its products. And because we couldn’t resist, we get into AI slop, LLM psychosis, and Eric’s clear, simple antidote: never ask these tools to make you an artifact — ask them to teach you how to make one yourself.

Bio

Over the last two decades, Eric Ries’s ideas about continuous innovation, long-term thinking, governance, and market reform have reshaped company building and management practices. He is the creator of the Lean Startup method, and the author of the New York Times bestseller The Lean Startup; The Leader’s Guide; and The Startup Way.

As a founder, he has put his own ideas into practice with The Long-Term Stock Exchange (LTSE); Answer.AI, an AI R&D lab; the Lean Startup Co, which teaches and supports the implementation of Lean Startup; Virgil, a legal services startup; and IMVU, where the ideas that became the Lean Startup method were forged. On his podcast, The Eric Ries Show, he talks to guests including world-class technologists, thought leaders, and executives working to build profitable companies for the long-term benefit of society. Eric has served as an entrepreneur-in-residence at Harvard Business School and IDEO. He lives in the San Francisco Bay Area with his wife and three children.

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