Mike Maples Jr., partner at Floodgate, explains why early-stage startups need contrarian recruiting strategies rather than competing for established tech figures.
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“So, for example, if you look at the PayPal mafia, none of them were established in tech before they joined PayPal.”
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More from Mike Maples Jr.
Insight
Maples: Searching for market white space causes startup failure
“Insights are the bedrock of a great startup. And the failure mode in insight development is to live in the present and to look for market white space. Because if you're looking for gaps in today's markets, chances are lots of people have tried that. And if you…”
Mike Maples Jr.Mar 3, 2020▶ 8:41#77 Mike Maples: Living in the Future
Insight
Maples: Startups should charge customers even when products are half-done
“We'd be better off charging a price when the product's half done, because, you know, then we're going to find out how visceral is the pain and how compelling is the value that we're here to deliver for them.”
Mike Maples Jr.Mar 3, 2020▶ 31:08#77 Mike Maples: Living in the Future
PredictionNot checkable as stated
Maples: Software-defined networks will replace traditional corporate hierarchies across every sector
“Every sector of the economy Is going to get reimagined from a traditional hierarchical corporation to a software defined network that has machine platform and crowd intelligence.”
Mike Maples Jr.Mar 3, 2020▶ 55:51#77 Mike Maples: Living in the Future
Insight
Maples: Customers failing previous solution attempts validates startup market need
“And you know, you're on the right scent when they say, oh yeah, we tried that already before, but it didn't work. And most people think that's bad, but it's good. And the reason it's good is because they know they have the problem. And they've actually done so…”
Mike Maples Jr.Mar 3, 2020▶ 1:14:01#77 Mike Maples: Living in the Future
Insight
Maples: Product-Market Fit Means Eliminating Every Bottleneck Before Scaling
“Product market fit can be thought of as progressively eliminating all Herbie's until there are no more Herbie's. And then you're in a mode where you can invest in growth because it's frictionless.”
Mike Maples Jr.Mar 3, 2020▶ 1:20:41#77 Mike Maples: Living in the Future
Insight
Maples: Involuntarily replacing a startup CEO almost always worsens the company
“What I found is that when you replace the CEO involuntarily, you almost always make the company worse.”
Mike Maples Jr.Mar 3, 2020▶ 1:23:39#77 Mike Maples: Living in the Future
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