This Week in Startups The Wing shuts down, avoiding pitfalls of success + Tesseract Energy's Alan Chang | E1587
Oct 16, 2022
Alan Chang, the Founder and CEO of Tesseract Energy, discusses the downfall of The Wing, emphasizing the pitfalls of founder ego and the importance of customer experience. He shares insights from his journey in the energy sector, highlighting how Tesseract aims to disrupt the market with affordable renewable solutions and a unique token financing model. The conversation also touches on the complexities of energy pricing, the role of community in energy solutions, and the innovative strategies necessary for navigating the evolving landscape of renewable energy.
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The Wing's Downfall
- The Wing, a women-focused co-working space, abruptly closed despite significant funding and a long waiting list.
- Accusations of racism and poor staff treatment tarnished its reputation, highlighting the importance of inclusive company culture.
Worst-Case Scenario Planning
- Consider worst-case scenarios and how they might be perceived by others, including the press and disgruntled employees.
- Document policies and train employees accordingly to avoid misinterpretations and maintain a consistent brand image.
Building an Inclusive Community
- Create a code of conduct that emphasizes respect for all members and staff.
- Make staff members of the community to foster a sense of belonging and shared responsibility.