Masters of Scale A more compassionate capitalism, with Cotopaxi’s Davis Smith
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Feb 20, 2025 Davis Smith, founder of Cotopaxi, an outdoor brand dedicated to social justice, discusses the transformative power of business. He shares his journey of integrating purpose into a brand, highlighting lessons on team dynamics and the significance of gut feelings in entrepreneurship. Smith reveals the innovative 'Lobatical' program that enhances employee loyalty and explains his bold decision to step down as CEO to foster new leadership. With a vision of compassionate capitalism, he inspires listeners to embrace both adventure and social responsibility.
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Brazilian Baby Business Failure
- Davis Smith, inspired by Diapers.com's success, launched a baby e-commerce business in Brazil.
- Despite reaching $20 million in revenue, the business failed due to prioritizing growth over profitability.
Choosing Co-founders
- Choose co-founders based on their ability to solve the problem, not personal relationships.
- Find the right idea first, then seek a co-founder whose skills complement the venture.
Cotopaxi's Genesis
- The idea for Cotopaxi came to Davis Smith during a 36-hour period of inspiration while living in Brazil.
- Despite investor skepticism, Davis secured funding, driven by his belief in the vision.