Grimshaw: Tobi Lütke divested a Shopify acquisition within 18 months
Miles Grimshaw · Miles Grimshaw: The 5 Pillars of Venture Capital & Why Co-Pilot is an Incumbent Strategy | E1061 · 20VC with Harry Stebbings · Sep 18, 2023 · at 1:36:44
Miles Grimshaw, General Partner at Benchmark, discusses how Shopify CEO Tobi Lütke demonstrated truth-seeking leadership during the post-ZIRP period by quickly unwinding a bad deal.
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“For Toby at Shopify to make an acquisition and then divest it With, I don't, I think within a year, maybe it was a year and a half, like not very long for an organization to say, to make a big move and say, nope, we made the wrong decision that fast and not get locked into it, not get locked into the ego of having made the call and wanting to look right, but to be so truth seeking to be able to recognize the wrong decision and correct it at that scale.”
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