

20VC: Notion's Founder on "Founder Mode": When it Works & When it Doesn't | Why The Way Startups Fundraise & Construct Boards is Broken | Raising at a $10BN Valuation in Peak Bubble Times and How Notion Has More Money Than Ever Before with Akshay Kothari
136 snips Sep 18, 2024
Akshay Kothari, Co-founder of Notion and former VP of Product at LinkedIn, shares insights on the challenging 'Founder Mode.' He highlights the power of veto decisions and reflects on crucial opportunities Notion missed. Akshay discusses their decision to raise $50M without needing the funds and what led to a $270M round at a $10B valuation. He also touches on the dynamics of building a supportive board and the importance of lean operations in a rapidly growing startup.
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Systems Design over Headcount
- Design systems to improve individual output instead of simply adding headcount.
- At Notion, tagging support tickets enabled engineers to directly address user needs, eliminating the need for product ops and research roles early on.
Rethinking Org Structures
- Traditional organizational structures are being questioned and reevaluated.
- Leaders should consider alternative approaches like founder mode and adapt organizational design to fit their company's needs.
The Power of Veto
- Founders should use their veto power to maintain high hiring standards.
- At Notion, both founders interviewed every candidate up to 500 employees, prioritizing quality over speed.