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 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.
49:04
Episode guests
AI Summary
Highlights
AI Chapters
Episode notes
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.
