Lorang: Executive control is a myth; leaders control basically nothing
Bart Lorang · 20VC: Why Every CEO's Goal Should Be To Be The Laziest CEO, The Benefits of Being Both Founder and Investor At The Same Time & Why Every CEO Should Try A CEO Coach with Bart Lorang, Founder & CEO @ Full Contact · Jun 23, 2017 · at 19:45
Bart Lorang is the founder and CEO of Full Contact and Managing Director at VOne VC, discussing management style.
0:00 / 0:15exact quote · 15.3s
720p mp4 · rendered on demand · StarZero watermark
“Control is a word that we should probably eliminate. It's a falsehood that we control. We control basically nothing, and I've given up a lot of control in my company in terms of my management style is very, very hands-off, or I like to think so.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Bart Lorang
Lorang: CEOs must spend 10% of their salary on personal growth
“If you're not spending 10% of your salary every year in your company on your own personal growth and development, like you're literally suboptimizing the company.”
Lorang: Early-stage deals relying on marginal IRR differences are bad investments
“If the IRR is 12% or 14%, and it's that close, like, it's probably not a good deal. It's got to be, like, no-brainer stuff that is just like, oh, if it works. If it doesn't, it's a zero.”
Lorang: Companies should capture over 50% of the value they create
“I don't know if I agree with that. I think that it should be over 50% if you had to put me, pay me to a number. I think you'd always leave things on the table, but that's But that's, that goes to the relationship dynamics.”
FullContact pays employees $7,500 annually to take fully disconnected vacations
“Paid, paid vacation is a thing that we came up with about five years ago at Full Contact, and we pay every employee 7500 dollars once a year to take a vacation, and that's on top of their existing paid vacation salary, so they get a 7500 dollar stipend to go t…”