Fried: 37signals does not offer equity compensation to its employees
Jason Fried · Bootstrapping vs. Venture Capital · Dec 20, 2023 · at 2:35
Jason Fried, co-founder and CEO of 37signals, explains how the company's operating practices differ from traditional Silicon Valley tech startups.
0:00 / 0:01exact quote · 1.5s
720p mp4 · rendered on demand · StarZero watermark
“We don't offer equity to employees.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Jason Fried
Fried: Never dismiss a good idea because prior founders executed poorly
“Never dismiss a good idea because of poor execution. And five people could have gotten it wrong in a row. It doesn't mean it's bad. They just may have gotten it wrong.”
Fried: Gathering too many early opinions wrecks product development
“One of the ways to wreck new product development is to get too many opinions too early. Everyone's got an opinion, and especially when something's new, they're gonna tell you what they think, and then you end up having to sort of field and explain your reasons…”
Fried: Ambition should mean sustaining a business, not destroying competition
“The ambition typically, or ambition is typically a word used to talk about, like, amassing, and collecting, and growing. You know, it can also mean, in my opinion, like, it should mean existing, sustaining. I'm ambitious at that level, but I don't need to go d…”
Fried: Midwest location helped 37signals reject VC money and peer pressure
“It was easier for us to reject VC money because we didn't live in that world. We lived in the Midwest and that's not how people do things over there, you know? And we also didn't go to the parties and didn't go to the events and didn't like get influenced by t…”
Fried: Approaching projects with zero domain knowledge yields more original work
“One of the reasons why I don't go looking at other people's work is because once I have their work in my head, it's hard to have original ideas. I actually prefer the newbie approach. Like, I don't know what the hell I'm doing. I think people who go into somet…”
Fried: Taking Cash Out of a Business Reduces Compounding Downside Risk
“Taking cash out of a business, I think is a really healthy thing. In our industry, it seems like people are always pouring money back into the business. You know, shit can hit the fan at any time, and a lot of businesses that were worth something aren't worth …”