Jan 2, 2019 · 29m · a16z
a16z Podcast | Public or Private? Finding the Right Board Seat
Dawn Lepore · 8m spoken Amy Bohutinsky · 8m spoken Michael Copeland · 5m spoken Michelle Wilson · 4m spoken
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gold bands on the timeline = statements, start to end. Hover to read, click to jump. CC turns on captions
Hosted by Michael Copeland at Zillow headquarters, this episode of the a16z podcast features veteran corporate board members Dawn Lepore, Amy Bohutinsky, and Michelle Wilson sharing insights on securing board seats, transitioning from executive operators to strategic directors, and navigating boardroom dynamics.
How this conversation actually went
Every chapter scored 0–10 on four independent dynamics. Hover any point for the reasoning behind the score. How this is scored →
The host as informed peer 1.6 Guest teaching 3.1 Guest disagreement 0.9 The host pushing back 0.7
speaking balance: gold is the host, purple is the guest (3 minute bins)
Sharpest disagreement ▶ 9:13 Dawn dismisses the notion of board 'slots'
Dawn explicitly reframes and rejects the host's premise that boards have designated functional slots for roles like lawyers or marketers.
Hardest push from the host ▶ 2:02 Host pushes on self-interest in joining boardsThe host directly probes the guests by framing the question bluntly around personal gain ('Not to be too crass, but what's in it for you?').
Biggest teaching moment ▶ 9:13 Dawn corrects host on board compositionDawn corrects the host's conceptual error regarding board composition, explaining that effective directors cannot operate as one-topic functional representatives.
The host holds their own ▶ 9:36 Host synthesizes panel lesson on executive breadthAfter the panel reframes his question on functional slots, the host demonstrates understanding by clearly articulating the core insight about broad executive contribution.
the scores for every segment, with the reasoning behind each
| Chapter | Topic | The host as informed peer | Guest teaching | Guest disagreement | The host pushing back | Why |
|---|---|---|---|---|---|---|
| Motivations and Career Benefits of Joining a Board | 1 | 3 | 0 | 1 | Host Michael Copeland introduces the panel and kicks off with baseline questions about why executives join board seats. The guests explain how board service broadens executive perspective and governance skills beyond their day jobs. | |
| Contrasting Public vs. Private Board Dynamics | 1 | 3 | 0 | 0 | The host asks the panel to contrast public and private board experiences. Dawn and Michelle educate the host on how private boards focus on scaling and informing, whereas public boards deal with stricter regulatory requirements and governance. | |
| Broadening Expertise Beyond Specific Functional Roles | 2 | 4 | 2 | 1 | When the host asks about board 'slots' for functional experts like lawyers, Dawn gently rejects the premise, clarifying that boards do not operate on fixed functional slots. The host then summarizes the key takeaway that directors must think holistically about business decisions. | |
| Navigating Boardroom Culture and Shifting Mindsets | 1 | 3 | 0 | 0 | Host inquires about initial obstacles for new board members. Dawn and Amy share personal lessons about courtroom decorum, learning to listen, and suppressing the urge as an operator to instruct management on how to run their departments. | |
| Ongoing Director Responsibilities and Recruitment Realities | 2 | 3 | 1 | 1 | Michelle and Dawn discuss director responsibilities between meetings and the lengthy networking process to secure a seat. The host asks how honest candidate directors must be about their value add, prompting Dawn to emphasize that non-profit experience does not prepare someone for corporate board work. | |
| The Evolving Demand for Marketers and Operators on Boards | 2 | 3 | 1 | 1 | The panel discusses why demand for operational and marketing directors is rising. When the host asks if efficient board meetings avoid massive PowerPoint decks, Amy explains that sending materials early for pre-reading allows board time to focus entirely on high-level strategy. | |
| Managing Board Time Commitments and Executive Support | 2 | 3 | 2 | 1 | The conversation shifts to time commitments and the evolution of the Seattle tech scene. Amy and Dawn engage in a mild peer debate about whether Seattle founders lack Bay Area ambition, with Dawn noting that local founder mindsets have matured significantly in recent years. |
Statements from this episode (15)
Wilson: Board Seats Offer High-Leverage Value to Younger Leadership Teams
“Being on a board is just a really highly leveraged way to use your time and help some younger companies and help contribute in ways and bring experiences that maybe the management team can't.”
Lepore: Board Seats Help Functional Leaders Transition to General Executives
“One of the things that's interesting that's a theme, if you're, if you grow up in a functional area, I was CIO of Schwab, I grew up in technology, I think it's a wonderful way to broaden yourself. I mean, it's hard to break out of your functional area and beco…”
Lepore: Aspiring public directors must get direct public board experience
“If you want to be on public boards, you need to get your first public board. Now that can be by going on a private board that goes public, but if you really want to be on public boards, Long term. At some point, you need to be on a public board, because they a…”
Lepore: Corporate boards do not recruit for single-topic functional slots
“There's no slots. Like, I don't think of slots, right? I mean, to your point, you're, you can't be a one-topic board member. That just doesn't work, and you're not contributing to the board, so I think every, Companies different, and you've probably found that…”
Bohutinsky: Board meetings work best focusing on strategy over updates
“There are some of them that the entire time is spent giving an update on the business, and then there's very little time at the end for the board to actually give feedback and talk about bigger issues. There are some that materials are sent in advance, we read…”
Lepore: New board members should listen rather than speak
“Board meetings can go awry if somebody wants to hear themselves talk, and so you need to know that you don't always have to say something. So I think that's, and I always tell people when they're new on a board, do a lot of listening.”
Bohutinsky: Board members should ask questions rather than instruct management
“One thing that's been a learning process for me is, for both the boards I'm on as a CMO, I could jump in and say, Here's how you should run these areas of marketing, but as a board member, I'm going to be much more effective if I just ask questions and listen.…”
Michelle Wilson: Being an effective board director happens mostly between meetings
“You need, you can't, you have to participate in the meetings, obviously, but so much of it is just what you do between meetings, really making sure you understand what's going on and you're up to speed and can contribute.”
Wilson: Board recruitment is lengthy, erratic, and provides poor feedback
“The hardest thing for me has been that even though I understand the board recruiting process, and I was in charge of a lot of it at Amazon, working really closely with the outside directors, I just, it is a long process, and it's really in fits and starts, and…”
Lepore networked for 20 months before securing her first board seat
“I networked for about 20 months before I got my first board”
Lepore: Non-profit board experience does not prepare you for corporate boards
“I hear people say, Well, I'm on lots of nonprofit boards, so therefore I can do a public or private, you know, corporate board. They're nothing like each other. Nothing at all. As far as I'm concerned, doing nonprofits, which are great things to do, that's not…”
Bohutinsky: Public boards recruit marketers when marketing fails or competition rises
“Where I've been contacted on public companies though, it's often something where the marketing isn't working, right? Or they have a new competitive set.”
Wilson: Public board time commitments spike unpredictably during corporate crises
“I think the answer on your time commitment question, I think it's an important question because it really varies, especially for public company boards. I think you can be sailing along and spending really not very much time, but If something big happens, you'r…”
Bohutinsky: First-time board members must get clear support from their CEO
“And one thing for first time board members too, is is securing the support of your own boss or CEO or board members that you'll be spending time away or traveling away from your job for this sort of thing. And making sure they're supportive and can help you in…”
Bohutinsky: Seattle tech workers demonstrate higher loyalty than Bay Area workers
“On the good side of it, I find that tech workers in Seattle are loyal. We don't have the types of problems that our Bay Area office has and others have of people every 18 months to two years looking for the next thing that's going to pay them more.”