Glyman: Ramp shares full board meeting decks with all 100 employees
Eric Glyman · 20VC: Ramp's Eric Glyman on Why You Should Never Take The Highest Price, Working With Venture Funds vs Crossover Funds and How To Determine What To Buy vs Build as a Founder Today? · Jun 2, 2021 · at 32:37
Eric Glyman is the co-founder and CEO of Ramp. He discusses Ramp's internal transparency practices and how board presentations are shared internally.
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“We actually go Back to the company. All a hundred people at ramp can see what was in the board meeting and his chance to actually distill down the strategy itself.”
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“And so what we said was we actually care a lot less about being someone's first card. We're much more interested in how do you be there last?”
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“I think we spent Like 50,000 dollars on marketing last month, but are doing like a billion dollars in transactions a year.”
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“And it turned out that there was only one variable that moved everything. And it was just purchase volume.”
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“And when you went from like 10 employees to 20 employees. Businesses didn't spend twice as much. They would spend like five, 10, 50 times as much in some cases.”
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“I definitely lean the ladder for most people. I really do think that activity in hours of yourself and of others being spent in the right place is leverage. And so certainly at some extreme I think it's about one to two, but for the vast majority of people, I …”
Glyman: 99% of great businesses solve problems rather than applying new tech
“Great businesses, 99 out of a hundred times start with being really curious about people's problems and how can you solve them in a better and deeper and more true way? Not with what are the new breakthrough capabilities of technology and how do I apply that?”