Marc Lore (Jet.com founder and investor) explains why he refuses to bypass his strict resume evaluation step even when trusted contacts refer job candidates.
Prediction Not checkable as stated
Marc Lore: Candidates with top-10% resumes and SPOTIC traits are hired on the spot
“And if I find a top 10% resume with spotty traits, home run, and then I hire them on the spot. I don't need to do any references at that point. They've already proven on their resume and do the values that they're amazing.”
Opinion
Lore: Stage-specific VC value-add is overdone and causes conflict
“I think it's a little overdone, this idea that, like, they help in a different way, the C or the A. When I think about my best investors, because they came in all the rounds, I treat them all like they're just great. They're sounding boards, they open doors, t…”
Insight
Marc Lore: Founders Must Invest Enough Personal Capital to Feel Life-or-Death Pressure
“I wouldn't recommend putting your life savings in. But I would recommend putting enough money in so that you feel like it's life or death, because that's the only way to get into what I call the sixth gear.”
Insight
Marc Lore: Founders Cannot Successfully Manage HR on the Side
“If you think that, or the CEO or the founder of a company thinks that they can found the company, do the capital, do the vision, do all the parts of the business, and on the side with their pinky, do like the chief people stuff. That's not gonna work. You're n…”
Prediction Didn’t hold up
Marc Lore targets a $500M fund concentrated in 15 companies
“Yeah, it would be, you know, more like 15 investments. How do you put ten million seed in a company, and then the company winds up, let's say you own 40% for ten million, and then the company winds up doing a fifty million dollar round that you lead to keep yo…”
Insight
Marc Lore: Operating at maximum intensity on five hours of sleep fails
“If you want, in sixth gear, this idea of being in sixth gear and sleeping five hours a night, that doesn't work. You can't, you don't have enough energy to be in sixth gear for the remaining hours in the day.”