Lorang: Early-stage deals relying on marginal IRR differences are bad investments
“If the IRR is 12% or 14%, and it's that close, like, it's probably not a good deal. It's got to be, like, no-brainer stuff that is just like, oh, if it works. If it doesn't, it's a zero.”
Lorang: Companies should capture over 50% of the value they create
“I don't know if I agree with that. I think that it should be over 50% if you had to put me, pay me to a number. I think you'd always leave things on the table, but that's But that's, that goes to the relationship dynamics.”
Lorang: Sales reps leave money on table chasing quarterly commissions
“So, you know, and a lot of times sales reps do this where there, there's clearly a bigger opportunity, but they're optimizing for their commission this quarter and they're actually leaving a Big pile of money on the table because they're optimizing for their c…”
FullContact pays employees $7,500 annually to take fully disconnected vacations
“Paid, paid vacation is a thing that we came up with about five years ago at Full Contact, and we pay every employee 7500 dollars once a year to take a vacation, and that's on top of their existing paid vacation salary, so they get a 7500 dollar stipend to go t…”
Lorang: Focus and simplification can cut work hours from 70 to 35
“People realize that you don't actually have to work 70 hours. You can actually knock it out in 35 hours, maybe, and if Just actually focus and simplify and declutter.”
Lorang: Executive control is a myth; leaders control basically nothing
“Control is a word that we should probably eliminate. It's a falsehood that we control. We control basically nothing, and I've given up a lot of control in my company in terms of my management style is very, very hands-off, or I like to think so.”
Lorang: FullContact will be public or IPO-ready by 2022
“I think in five years, right, full contact will either be a public company or ready to be public.”
Lorang aims to be a lazy CEO who reads and meditates
“So my goal is to be the lazy CEO that actually just shows up every day, maybe reads, maybe meditates, maybe answers an email or two but actually doesn't have to do much.”
Bart Lorang: FullContact Has Raised About $50M in Venture Capital
“Full contact. We definitely fundraised. We went to venture capital route because I sort of looked at the size of the problem. I said, Whoa, this is way too big to bootstrap. That was our assessment and we've raised about fifty million dollars today.”