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AcquiredDecember 30, 2019
The Lean Startup and the Long-Term Stock Exchange (with Eric Ries)
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Guest: Eric Ries)
Season 5, Episode 10: The Lean Startup and the Long-Term Stock Exchange (with Eric Ries) Acquired closes out Season 5 and 2019 with a radical look into both the past and future decades of startup company building, investing and - yes, exiting - in conversation with legendary Lean Startup author Eric Ries. Nine years on from pioneering the now-canonical concepts of product-market fit, minimum viable products, and pivots during the aftermath of the financial crisis, Eric’s new venture at the Long-Term Stock Exchange represents an equally ambitious attempt to rewrite the orthodoxy of how companies and their investors manage liquidity, governance and alignment around longterm value creation. Like Lean Startup a decade before it, can LTSE help address some of the endemic problems in this generation’s startup ecosystem — excessive capital raising, stay-private-longer, dual-class founder hegemony, extreme illiquidity and quarterly earnings myopia? Tune in to find out!
6 book mentions in this episode.
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Books Mentioned
The Lean Startup
Eric Ries
“Listeners, you may know Eric's name from his popular 2011 book, The Lean Startup. The LTSE was actually started from an idea that Eric had while writing the book.”
Sentiment: Deep Dive
Trigger: Eric Ries and his book
For: Entrepreneurs and startup founders
Key quote: “The LTSE was actually started from an idea that Eric had while writing the book.”
The host mentions 'The Lean Startup' to highlight how the idea for the LTSE originated while Eric Ries was writing the book. This connection illustrates the practical application of the book's principles in real-world entrepreneurial ventures.
ASIN: B005MM7HY8
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“The speaker mentions that they and their colleagues had all read 'Snow Crash' and the same sci-fi books, indicating its influence in the context of startups and virtual reality.”
Sentiment: Passing Reference
Trigger: entrepreneurship and startups
For: aspiring entrepreneurs and tech enthusiasts
Key quote: “we'd all read Snow Crash and the same sci-fi books.”
The host mentions 'Snow Crash' as a shared cultural reference among people in the tech startup scene. It highlights the influence of sci-fi literature on their entrepreneurial journeys and aspirations.
ASIN: B00005NZJA
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“He was very into crossing the chasm and the innovators dilemma.”
Sentiment: Deep Dive
Trigger: customer discovery in marketing
For: Marketers and product developers
Key quote: “Was he influenced by crossing the chasm? Yeah. Yeah. Yeah. He was very into crossing the chasm and the innovators dilemma.”
The host discusses the importance of customer feedback in product development, referencing 'Crossing the Chasm' as a significant influence on this perspective. They highlight how the book emphasizes the need for marketers to engage with customers to inform product roadmaps, contrasting it with traditional engineering approaches.
ASIN: 0887305199
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“He was very into crossing the chasm and the innovators dilemma.”
Sentiment: Deep Dive
Trigger: customer discovery in marketing
For: Marketers and product developers
Key quote: “It's about what they tell you.”
The host discusses the importance of customer feedback in product development, referencing 'The Innovator's Dilemma' to highlight a shift in thinking about marketing and engineering collaboration. This book is mentioned as a foundational text that influenced the approach to understanding market needs versus technical capabilities.
ASIN: B0CY78H4Q1
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“I just remember buying copies of four steps epiphany for like everyone on my team and be like, well, everyone read this on Friday.”
Sentiment: Highly Recommended
Trigger: team development strategies
For: team leaders and managers
Key quote: “I just remember buying copies of four steps epiphany for like everyone on my team and be like, well, everyone read this on Friday.”
The host emphasizes the importance of the book 'Four Steps to the Epiphany' by sharing their experience of distributing it to their entire team. This suggests that the book contains valuable insights that the host believes everyone should absorb.
ASIN: B010CLGP5A
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“There's a big Wall Street Journal article about this book called One Share, Two Votes, basically like how hedge funds, they borrow extra money like right at the last second before a proxy contest to get extra votes like that day.”
Sentiment: Critical Analysis
Trigger: dual class share structures
For: investors and corporate governance advocates
Key quote: “there's a big Wall Street Journal article about this book called One Share, Two Votes, basically like how hedge funds, they borrow extra money like right at the last second before a proxy contest to get extra votes like that day and then get it.”
The host discusses the implications of dual class share structures and mentions the book 'One Share, Two Votes' to highlight the controversial practices surrounding voting rights in corporations. The book serves as a critique of how hedge funds manipulate voting systems, emphasizing the need for a more equitable approach to shareholder participation.
ASIN: N/A
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