Masters of Scale Don’t stop learning: How Cornerstone kept scaling, w/Adam Miller
Jun 13, 2024
Adam Miller, the mastermind behind Cornerstone On Demand, shares his extraordinary journey of scaling an education tech giant from a humble idea during the dot-com boom to a $5.2 billion business. He dives into the gritty challenges of navigating financial crises, including a desperate loan from the shadows to make payroll. Miller emphasizes the importance of perseverance, risk-taking, and adapting to market changes while building resilience during tumultuous times, including the 2008 financial crisis and the pandemic.
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Loan Shark
- In 2005, Cornerstone faced a near-death experience due to funding issues.
- Adam Miller secured a high-interest loan from a loan shark to meet payroll, demonstrating his commitment.
CyberU Origins
- Adam Miller's initial company, CyberU, aimed to deliver adult education via CD-ROMs.
- His colleagues at the investment bank provided the seed funding, showing early support.
Hire for Potential
- Hire for potential, not just experience, especially in emerging fields.
- Early Cornerstone employees were adaptable and eager to learn, which proved valuable.