Jan 2, 2019 · 31m · a16z

a16z Podcast | Building a Better Board

Shelley Archambault · 10m spoken Geri Elliott · 9m spoken Raul Vasquez · 8m spoken Matt Levy · 42s spoken
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In this Andreessen Horowitz panel discussion, corporate leaders share actionable strategies, diversity statistics, due diligence practices, and personal brand positioning guidelines for prospective board directors.

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 5.8 Guest teaching 2.4 Guest disagreement 1.0 The host pushing back 1.2
05100:0010:0020:0030:001:49–8:33 · The host as informed peer 6/10 Boardroom Statistics and Diversity Overview Shelley opens the discussion by citing detailed stats from the Spencer Stuart board study on director demographics, ages, and diversity metrics. The guests warmly share their personal trajectories onto their first non-public and public boards without any friction or conflict.8:33–13:40 · The host as informed peer 4/10 Preparing for Board Governance and Shifting Mindsets Geri and Raul educate the audience on transitioning from an operator mindset to a collaborative board partner. The panel maintains an entirely supportive tone as guests share practical preparation advice.13:40–16:40 · The host as informed peer 6/10 Defining Value Proposition and Personal Positioning Shelley intervenes strongly to emphasize the necessity of narrowing a candidate's positioning rather than claiming to do everything. Raul explicitly agrees with her positioning reframing.16:40–22:43 · The host as informed peer 7/10 Evaluating Board Opportunities and Conducting Due Diligence Shelley demonstrates deep governance expertise by detailing real-world red flags, such as turning down a Fortune 500 board seat due to excessive special meetings. Geri offers a mild counter-perspective advocating taking meetings regardless.22:43–29:32 · The host as informed peer 6/10 Diversity Pipeline and Personal Brand Development Shelley lists the top five board skill set requirements and details the necessity of building an individual brand. The panel discusses turnover trends and network dynamics in an agreeable manner.1:49–8:33 · Guest teaching 1/10 Boardroom Statistics and Diversity Overview Shelley opens the discussion by citing detailed stats from the Spencer Stuart board study on director demographics, ages, and diversity metrics. The guests warmly share their personal trajectories onto their first non-public and public boards without any friction or conflict.8:33–13:40 · Guest teaching 3/10 Preparing for Board Governance and Shifting Mindsets Geri and Raul educate the audience on transitioning from an operator mindset to a collaborative board partner. The panel maintains an entirely supportive tone as guests share practical preparation advice.13:40–16:40 · Guest teaching 2/10 Defining Value Proposition and Personal Positioning Shelley intervenes strongly to emphasize the necessity of narrowing a candidate's positioning rather than claiming to do everything. Raul explicitly agrees with her positioning reframing.16:40–22:43 · Guest teaching 3/10 Evaluating Board Opportunities and Conducting Due Diligence Shelley demonstrates deep governance expertise by detailing real-world red flags, such as turning down a Fortune 500 board seat due to excessive special meetings. Geri offers a mild counter-perspective advocating taking meetings regardless.22:43–29:32 · Guest teaching 3/10 Diversity Pipeline and Personal Brand Development Shelley lists the top five board skill set requirements and details the necessity of building an individual brand. The panel discusses turnover trends and network dynamics in an agreeable manner.1:49–8:33 · Guest disagreement 1/10 Boardroom Statistics and Diversity Overview Shelley opens the discussion by citing detailed stats from the Spencer Stuart board study on director demographics, ages, and diversity metrics. The guests warmly share their personal trajectories onto their first non-public and public boards without any friction or conflict.8:33–13:40 · Guest disagreement 1/10 Preparing for Board Governance and Shifting Mindsets Geri and Raul educate the audience on transitioning from an operator mindset to a collaborative board partner. The panel maintains an entirely supportive tone as guests share practical preparation advice.13:40–16:40 · Guest disagreement 0/10 Defining Value Proposition and Personal Positioning Shelley intervenes strongly to emphasize the necessity of narrowing a candidate's positioning rather than claiming to do everything. Raul explicitly agrees with her positioning reframing.16:40–22:43 · Guest disagreement 2/10 Evaluating Board Opportunities and Conducting Due Diligence Shelley demonstrates deep governance expertise by detailing real-world red flags, such as turning down a Fortune 500 board seat due to excessive special meetings. Geri offers a mild counter-perspective advocating taking meetings regardless.22:43–29:32 · Guest disagreement 1/10 Diversity Pipeline and Personal Brand Development Shelley lists the top five board skill set requirements and details the necessity of building an individual brand. The panel discusses turnover trends and network dynamics in an agreeable manner.1:49–8:33 · The host pushing back 0/10 Boardroom Statistics and Diversity Overview Shelley opens the discussion by citing detailed stats from the Spencer Stuart board study on director demographics, ages, and diversity metrics. The guests warmly share their personal trajectories onto their first non-public and public boards without any friction or conflict.8:33–13:40 · The host pushing back 1/10 Preparing for Board Governance and Shifting Mindsets Geri and Raul educate the audience on transitioning from an operator mindset to a collaborative board partner. The panel maintains an entirely supportive tone as guests share practical preparation advice.13:40–16:40 · The host pushing back 2/10 Defining Value Proposition and Personal Positioning Shelley intervenes strongly to emphasize the necessity of narrowing a candidate's positioning rather than claiming to do everything. Raul explicitly agrees with her positioning reframing.16:40–22:43 · The host pushing back 2/10 Evaluating Board Opportunities and Conducting Due Diligence Shelley demonstrates deep governance expertise by detailing real-world red flags, such as turning down a Fortune 500 board seat due to excessive special meetings. Geri offers a mild counter-perspective advocating taking meetings regardless.22:43–29:32 · The host pushing back 1/10 Diversity Pipeline and Personal Brand Development Shelley lists the top five board skill set requirements and details the necessity of building an individual brand. The panel discusses turnover trends and network dynamics in an agreeable manner.

speaking balance: gold is the host, purple is the guest (3 minute bins)

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Sharpest disagreement ▶ 20:41 Pushing to Always Take the Meeting

Geri gently counters Shelley's point about passing on board opportunities by arguing that candidates should take every initial meeting regardless of upfront reservations.

Hardest push from the host ▶ 15:32 Challenging Generic 'I Can Do Everything' Elevator Pitches

Shelley firmly rejects candidate claims of being able to do everything, explaining that unfocused pitches leave zero impression on decision-makers.

Biggest teaching moment ▶ 20:47 The Ultimate Board Succession Question

Geri educates the panel on vetting board maturity by asking about their five-year board succession plan during candidate interviews.

The host holds their own ▶ 19:50 Exposing Board Dysfunction Through Red Flags

Shelley showcases her governance expertise by explaining how euphemisms like 'evolving board' and 20 special meetings signal deep underlying board dysfunction.

the scores for every segment, with the reasoning behind each
ChapterTopicThe host as informed peerGuest teachingGuest disagreementThe host pushing backWhy
Boardroom Statistics and Diversity Overview 6110 Shelley opens the discussion by citing detailed stats from the Spencer Stuart board study on director demographics, ages, and diversity metrics. The guests warmly share their personal trajectories onto their first non-public and public boards without any friction or conflict.
Preparing for Board Governance and Shifting Mindsets 4311 Geri and Raul educate the audience on transitioning from an operator mindset to a collaborative board partner. The panel maintains an entirely supportive tone as guests share practical preparation advice.
Defining Value Proposition and Personal Positioning 6202 Shelley intervenes strongly to emphasize the necessity of narrowing a candidate's positioning rather than claiming to do everything. Raul explicitly agrees with her positioning reframing.
Evaluating Board Opportunities and Conducting Due Diligence 7322 Shelley demonstrates deep governance expertise by detailing real-world red flags, such as turning down a Fortune 500 board seat due to excessive special meetings. Geri offers a mild counter-perspective advocating taking meetings regardless.
Diversity Pipeline and Personal Brand Development 6311 Shelley lists the top five board skill set requirements and details the necessity of building an individual brand. The panel discusses turnover trends and network dynamics in an agreeable manner.

Statements from this episode (14)

Assertion Partly supported
Over Half of Fortune 500 Board Directors Are Retired
“More than half of the elected directors are retired.”
Shelley Archambault Jan 2, 2019 ▶ 2:08
Assertion Partly supported
Women Secured 30% of New Fortune 500 Board Seats
“30% of new, of the new directors last year were women, which was up from 24% the year before”
Shelley Archambault Jan 2, 2019 ▶ 2:42
Assertion Supported
39% of New Fortune 500 Directors Are First-Timers
“39% of new directors are actually first-time directors.”
Shelley Archambault Jan 2, 2019 ▶ 2:56
Assertion Partly supported
Minority Representation Among New Fortune 500 Directors Dropped to 12%
“Just 12% of the new directors were minorities, and by that I mean African-American, Hispanic, or Asian. And that's down from 18% the year before.”
Shelley Archambault Jan 2, 2019 ▶ 3:06
Assertion Supported
Executive Search Firms Place a Minority of Board Members
“Ah, because yes, they're executive search firms, but actually they place the minority of board members.”
Shelley Archambault Jan 2, 2019 ▶ 7:31
Assertion Supported
83% of Corporate Boards Seek Defined Skill Sets
“You know, 83% of boards actually look for a very defined set of skill set.”
Shelley Archambault Jan 2, 2019 ▶ 13:41
Insight
Board Candidates Must Articulate a Clear Value Proposition
“Know what your value proposition is, and write it down, and actually have that five minute elevator pitch in your head, because if you can't articulate the value proposition to that board, then the conversation doesn't start.”
Geri Elliott Jan 2, 2019 ▶ 14:31
Assertion Partly supported
Higher Board Meeting Frequency Correlates With Better Financial Performance
“And the studies show that the longer the boards meet, or the more the board meets, it actually translates better to the bottom line. It's between 20 and 40 days a year with an average of 28.”
Geri Elliott Jan 2, 2019 ▶ 19:05
Disclosure
Nordstrom Board Pre-Read Deck Totaled 270 Pages
“My Nordstrom meeting that just happened, my deck, pre-read, 270 pages.”
Shelley Archambault Jan 2, 2019 ▶ 19:24
Assertion Supported
70% of Corporate Board Seats Are Sourced Through Networks
“Shelley was saying only 30% of board seats get, get sourced by a recruiter. The other 70% is through the network.”
Geri Elliott Jan 2, 2019 ▶ 20:47
Prediction Not checkable as stated
Reaching 30% Female Board Representation Will Take 33 Years
“Current course and speed, to get to 30%, it will take 33 years.”
Geri Elliott Jan 2, 2019 ▶ 23:48
Assertion Contradicted
Fortune 500 Board Seats Dropped 12% Since 2009
“And since 2009, the number of board seats in the Fortune 500 has reduced by 12%. Boards are getting smaller. Used to be an average of 10.8. It's now closer to nine.”
Geri Elliott Jan 2, 2019 ▶ 24:08
Prediction Held up
27% of Fortune 500 Board Seats Will Turn Over in Five Years
“And so E&Y did a study, and they said in the next five years, they thought 27% of the Fortune, 501,000 board members would turn over.”
Geri Elliott Jan 2, 2019 ▶ 26:40
What-if
Early Board Service Improves Operating Executive Performance
“I wish I had done it earlier, because I would have been a better operating executive.”
Geri Elliott Jan 2, 2019 ▶ 30:51
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