Startups should cut office luxuries but never skimp on top employee compensation
Henrique Dubugras · 20VC: Brex Founder Henrique Dubugras on Why Being Mission Driven Is Not The Only Way To Build A Massive Business, Why You Should Not Associate Fundraising with The Cash Needs of Your Business & Why You Don't Have To Follow Startup Theory When It Comes To · Feb 15, 2019 · at 17:25
Henrique Dubugras, co-founder and CEO of Brex, details his philosophy on capital efficiency and hiring strategy for high-growth startups.
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“So for example, I think like you shouldn't save on employee comp. If there's good people and you want to hire them, like, and you have to raise everyone else's salary just to hire this person because, you know, they're more comp and you need to be fair to everybody, like, do it. Don't save on that. But try to hire maybe less people and do, you know, have your people work more and don't spend on, you know, a lot of, like, stupid stuff, like sculptures in the office and, you know, expensive furniture and stuff like that, right? Like, Be frugal with things that don't matter, but people is the thing that matters the most, so I say invest in that.”
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