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20VC: Supercell Founder Ilkka Paananen on What it Means To Be "The Least Powerful CEO", His Relationship To Wealth and Risk & How To Create Environments of Safety Where Your Team Can Be Their Best and Most Ambitious Selves

Feb 1, 2021

Ilkka Paananen, Co-Founder and CEO of Supercell, has revolutionized gaming with hits like Clash of Clans. He introduces the intriguing concept of being 'the least powerful CEO,' which emphasizes empowering teams and fostering a culture of safety. Ilkka discusses the vital relationship between risk and a company's survival, sharing insights on handling failures and maintaining morale during tough times. He also reflects on how wealth changes one's perspective on responsibility, encouraging leaders to create environments that embrace innovation and collaboration.

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ANECDOTE

Supercell's Origin

Ilkka Paananen's first games company, Sumea, was sold to Digital Chocolate in 2004.
This experience taught him the importance of great teams, leading him to co-found Supercell.

INSIGHT

Least Powerful CEO

Ilkka Paananen considers himself the "least powerful CEO".
This means empowering teams to make decisions, as they are closest to the players and create better, faster outcomes.

ADVICE

Accountability through Trust

Hire people with a strong sense of accountability and responsibility.
Trusting your team fosters a culture of ownership and high-quality decision-making.

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Ilkka Paananen is the Co-Founder & CEO @ Supercell, the makers of some of the most wildly successful games of the last decade including Hay Day, Clash of Clans, Boom Beach and more. Prior to Tencent acquiring a majority stake in the company at a reported $10.2Bn acquisition, Ilkka raised over $143M for the company from Accel, Index, Atomico, IVP, LVP, Initial and Lifeline. Throughout his incredible leadership of Supercell he has coined the term, "the least powerful CEO", a fascinating concept and one we dig into in this episode.

In Today’s Episode You Will Learn:

1.) How Ilkka made his way into the world of startups and came to found one of Europe's most valuable companies in the form of Supercell?

2.) How does Ilkka think about his own relationship to risk? Why does Ilkka believe the No 1 reason companies die is due to their relationship to risk? How does Ilkka evaluate his relationship to money? How has it changed? How does Ilkka feel the weight of responsibility with his wealth?

3.) What does being "the least powerful CEO" mean in practice? What does Ilkka belive is key for leaders to really empower their team to be bold and ambitious? How can leaders create environments of safety where it is ok to fail? Where do many leaders go wrong here?

4.) The first 3 Supercell games were failures, how did Ilkka deal with those really hard times? How can leaders sustain morale in such hard times? Supercell then had 3 big hits in a row, how does one prevent ego and over-confidence in teams? What is the beer vs champagne culture?

5.) How does Ilkka think about the importance of focus? What has Ilkka done and learned to be a much more focused leader? How does Ilkka approach the aspect of competition today?

Item’s Mentioned In Today’s Episode

Ilkka’s Favourite Book: What You Do Is Who You Are: How to Create Your Business Culture by Ben Horowitz

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