The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch cover image

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

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

Sep 18, 2024
Akshay Kothari, Co-Founder of Notion and former LinkedIn VP, shares insights on navigating startup challenges. He discusses the concept of 'Founder Mode' and its impact on decision-making, emphasizing the importance of a founder's 'veto power.' Akshay reveals the thought process behind raising significant funds, including a $270M round at a $10BN valuation, and the lessons learned from investor dynamics. He also reflects on the need for diverse board members and the role of first principles in scaling a successful startup.
49:04

Episode guests

Podcast summary created with Snipd AI

Quick takeaways

  • Founder mode can be beneficial, but it becomes risky if a leader's decisions are consistently misguided, threatening the company's viability.
  • Notion's success is attributed to maintaining a lean team that fosters agility, allowing for quick decision-making and better resource allocation.

Deep dives

The Impact of Founder Leadership

Founder mode is effective when the leader consistently makes sound decisions; otherwise, it poses risks to the company. A strong leadership approach is needed to ensure that cash flow remains healthy and strategic choices are maintained. The discussion highlights the benefits of having a founder who prioritizes company culture and strategic growth, especially in companies that have significant funding, such as Notion. If a founder's decisions are misguided, it can jeopardize the company's future and viability.

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