Vivas: Smart Employees Will Figure Out Company Reality Regardless of Secrecy
Eddie Vivas · 20VC: The Biggest Mistakes Startups Make Hiring, The 2 Reasons Startups Fail and How to Avoid Them, Why Most Startup Equity Plans are F****** and Why You Should Scrap Titles From Your Company with Eddie Vivas, Founder & CEO @ Curated · Apr 1, 2022 · at 20:16
Eddie Vivas, founder and CEO of Curated, explains to Harry Stebbings why startup founders should share cash runway and performance metrics with their entire team.
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“If you hired smart people, they're going to figure the shit out anyways. You can hide things from dumb people. Smart people are going to figure it out, so you might as well be straight up. I mean, because if I have a sense of urgency behind certain decisions, it's because, hey, here's how much cash we have left in bank. Here's where we're progressing towards numbers. If they understand we're doing well or we're doing poorly this month, this quarter, they have context on decision making. They're going to change their decisions accordingly. They're going to think about spending capital differently. And so I'm a really big believer in transparency. I think you can fool mediocre teams, but smart people always will figure your bullshit out.”
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More from Eddie Vivas
Vivas: Excess Venture Capital Is Funding Lower-Quality Founders
“Right now there is a lack of high quality entrepreneurs and there's an excess of capital. And so people, investors are trying to fund whatever they can.”
Vivas: Founders Taking $10M in Early Secondaries Send Weird Signals
“Early companies found are taking ten million dollars off the table. Personally, I think it sends a lot of weird signals.”
Vivas: Curated Has Scrapped Employee Job Titles Entirely
“For starters, one of the things we do is we don't have titles of the company.”
Vivas: Early-Stage 'Dumb Money' Gives Founders Rope to Hang Themselves
“And I think, especially in the early stages of a business, dumb money is just giving you a longer rope to hang yourself with versus Smart money and really strong investors will really call you out on your bullshit, push you on.”