Mike Maples Jr. is a co-founding partner at Floodgate and a recognized venture capitalist, celebrated for his sharp insights into successful startups. In this discussion, he reveals why 80% of startups falter and the importance of breaking patterns to secure success. He emphasizes that great startups prioritize choices over comparisons and highlights the role of early believers in innovation. Mike advocates for bold experiments and the need for an entrepreneurial mindset to drive creativity and risk-taking in business.
30:05
forum Ask episode
web_stories AI Snips
view_agenda Chapters
menu_book Books
auto_awesome Transcript
info_circle Episode notes
insights INSIGHT
Choice, Not Comparison
Great startups force choices, not comparisons.
If a startup can be compared to existing products, customers have no compelling reason to choose the startup over established alternatives.
insights INSIGHT
Power of Early Believers
The best startups initially polarize opinions, often disliked by many but loved by a select few.
These early believers become crucial partners, co-creating the startup's future with the founders.
question_answer ANECDOTE
Tesla Cybertruck Example
The Tesla Cybertruck exemplifies polarizing design, loved or hated, but never compared.
This forces a choice, making it the only option for those who value its unique advantages.
Get the Snipd Podcast app to discover more snips from this episode
Pattern Breakers, written by Mike Maples Jr. and Peter Ziebelman, challenges traditional startup wisdom by revealing the hidden forces that drive extraordinary success. The book is based on extensive research and real-world examples from transformative startups like Twitter, Twitch, and Lyft. It emphasizes the importance of a different mindset and actions to harness developments that others might miss or initially see as crazy. The authors provide practical advice on how to transcend ordinary thinking, capitalize on market opportunities, and build a community of true believers to revolutionize industries.
Welcome to the What's Next! Podcast with Tiffani Bova.
I have the wonderful pleasure of welcoming Mike Maples Jr. to the show this week. He is a co-founding partner at Floodgate. He has been on the Forbes Midas List eight times in the last decade and was also named a “Rising Star” by FORTUNE and profiled by Harvard Business School for his lifetime contributions to entrepreneurship. Before becoming a full-time investor, Mike was involved as a founder and operating executive at back-to-back startup IPOs, including Tivoli Systems, which was acquired by IBM, where his dad used to work, and Motive acquired by Alcatel-Lucent. Some of Mike's investments include Twitter, Clover Health, Okta, Outreach, Chegg, Demandforce, and Applied Intuition. And he has a new book out called Pattern Breakers with his co-author, Peter Zimmerman.
THIS EPISODE IS PERFECT FOR…anyone curious to learn about the ingredients to start-up success.
TODAY'S MAIN MESSAGE…why is it that 80% of start-ups fail? What factors sets the 20% apart? As a seasoned venture capitalist, Mike says it comes down to breaking patterns. In this episode, he shares how to break away from linear strategies and dare to think boldly and take a risk.
KEY TAKEAWAYS...
Great startups force choices, not comparisons.
Early believers are essential for co-creating groundbreaking futures.
Intrapreneurs succeed by innovating discreetly before scaling their ideas.
Striking out on bold experiments is crucial - safe bets won’t lead to grand slams.
WHAT I LOVE MOST…Mike says that the best ideas often begin as unsettling or even disliked by many. It’s a testament to the power of sticking to bold, authentic visions despite early skepticism.
What's Next! with Tiffani Bova 