158 - “It Started In My Apartment, And We Grew It To $5B+”

The Founding of Cornerstone On Demand

The journey of Cornerstone On Demand began in a one-bedroom apartment in New York City, where Adam Miller and his friends set out to revolutionize adult education through internet-based training. Initially focused on adult learners due to limited access to educational resources, the company navigated the nascent online learning landscape that was largely unfamiliar to the public at the time. By consistently adapting their offerings, they pivoted from selling educational content directly to consumers to targeting enterprises as their client base expanded. Their efforts culminated in significant growth, eventually making online learning a commonplace experience for employees across various industries.

Navigating Challenges and Pivots

Throughout the early years, Cornerstone faced daunting challenges, such as the dot-com bust and the aftermath of September 11, which threatened its survival. The company managed to persist despite these setbacks, by avoiding the temptation to pivot towards traditional deployment models and focusing instead on their vision for cloud-based software. Furthermore, their unique travel schedule inadvertently established effective two-week development cycles that allowed them to respond rapidly to client feedback, ultimately leading them to secure deals with major enterprises instead of small businesses as initially planned. This disciplined approach laid the groundwork for future success, leading to their IPO in 2011.

The Evolution of the LA Tech Scene

Miller's impact on the Los Angeles tech ecosystem became evident as he not only fostered the growth of Cornerstone but also contributed to the establishment of the tech community in LA. By initiating programs like the LA Tech Summit and creating an accelerator in his office, he helped nurture budding startups and encouraged collaboration within the tech space. Today, LA is recognized as a significant hub for technology, with a flourishing network of startups and access to venture capital that has evolved dramatically since the early 2000s. Miller’s efforts, alongside the success of Cornerstone, highlighted the feasibility of building tech businesses outside of traditional centers like Silicon Valley.

Philanthropic Ventures and Ongoing Challenges

Post-Cornerstone, Adam Miller shifted his focus toward philanthropy through initiatives aimed at addressing pressing societal challenges such as homelessness and climate change. By founding Better Angels, he advocates for a comprehensive approach to homelessness, addressing root causes like prevention and the need for affordable housing driven by private sector solutions. His recognition that capital can be a driver of solutions led to efforts in creating viable business models that incorporate housing development with an emphasis on systemic change. Through these endeavors, Miller combines his entrepreneurial experience with a commitment to social impact, demonstrating that sustainable change in complex issues is achievable with innovative thinking.

Making It with Jon Davids

158 - “It Started In My Apartment, And We Grew It To $5B+” | Adam Miller, Cornerstone on Demand

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Quick takeaways

Deep dives

The Founding of Cornerstone On Demand

Navigating Challenges and Pivots

The Evolution of the LA Tech Scene

Philanthropic Ventures and Ongoing Challenges

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