Το να είσαι απαιτητικός και υποστηρικτικός είναι άρρηκτα συνδεδεμένα

Είναι ο τρόπος  όταν πιστεύεις σε κάποιον περισσότερο από ότι πιστεύει στον εαυτό του

 
Demanding and Supportive

My first Instacart board meeting was in November 2015. I had joined a month earlier as CFO. Our financials were ugly. We had $2M of revenue but were chewing through $11M of cash every four weeks, and lost $15 on every delivery. We were going to exhaust our cash in less than a year. Our last round was at $2B – a valuation detached from reality.

Mike Moritz was our board member from Sequoia. Anyone who has ever met Mike or read his writing knows that he has a special way with words. In this meeting, he delivered a simple and devastating message: if we didn’t change – immediately – we would go out of business. It was the single worst meeting of my career.

Over the next year, the Instacart team turned the company around. We went from losing $15 an order to making $3 an order. Without raising additional capital we built a cash buffer that was good for another year plus. We accomplished more in that 12-month period than I ever thought possible.

Fast forward to June 2017. Things at Instacart were now going well. We had raised $400M at $3.4B (led by Mike at Sequoia). We were growing quickly with consistently improving quality and profitability. It was working.

 
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