Second Time Founders
E53 w/ 3rd time founder Mike Adams on learnings including AI and choosing to step down from CEO
Jan 30, 2024
Mike Adams, an experienced venture founder, shares his learnings including AI and stepping down as a CEO. He discusses challenges in the tech industry, antitrust issues in AI, competing in different markets, achieving viral growth, and the difficulties of achieving viral network effect growth in an overfunded environment.
56:54
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Quick takeaways
- Stepping down as CEO and bringing in a new leader can lead to positive results for the company and its stakeholders.
- Competing against well-capitalized and dominant companies in an overfunded market requires leveraging network effects for success.
Deep dives
Transitioning leadership at Grain
Mike, the co-founder of Grain, made the decision to step down as CEO and hand over the reins to a new CEO. After recognizing that his ego was dominating his motives and that the head of product was better suited to lead the company, Mike chose to fire himself and bring in a new CEO. The decision was made with the best interests of the company, team, customers, and investors in mind. Since the transition, Grain has experienced a fresh start and is seeing positive results under the new CEO's leadership.
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