The Knowledge Project How to Win by Being Right and Contrarian: Lessons from Zappos to DoorDash
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Jan 21, 2025 
Alfred Lin, a partner at Sequoia Capital with a notable background in leading Zappos, Airbnb, and DoorDash, shares his wisdom on startup growth and resilience. He discusses the importance of hiring for potential and navigating crises through first-principles thinking. Lin delves into innovative strategies for building strong company cultures and prioritizing customer experience. Discover how his experiences have shaped his investment mindset, emphasizing adaptability and long-lasting value creation amidst challenges.
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Zappos' Best Customers
- Zappos discovered that its best customers, those with the highest lifetime value (LTV), also had the highest return rates.
- This insight revealed that high return rates weren't necessarily bad, but rather a sign of engaged customers willing to experiment.
Defining Zappos' Culture
- Zappos initially had a loosely defined culture, leading to subjective hiring decisions based on personal preferences.
- To address this, Tony Hsieh initiated a company-wide effort to define Zappos' core values, resulting in a list of 10 that guided their culture.
Fighting Complacency
- Actively fight complacency, even during periods of high growth and market dominance.
- Remember that reputation is easily lost and customer expectations are constantly evolving.
