Australia leading the way in Quantum Sensors - and customers are excited

Nomad Atomics have landed a $10m series A round to commercialise their mvp after having raised $2m in 2020 to build it .

Born out of the ANU from atomic physicists  Kyle Hardman, Paul Wigley and Christian Freier,  have built a world-leading quantum sensor technology they makes underground mining safer.

Their technology measures the movement of the cosmos into something about the size of a shoebox

The Nomad sensor can create a detailed and accurate map of the deep underground while its user stands at the Earth’s surface. For underground mining, then, Nomad provides an absolute source of truth for the potential difficulty of a mine, and supports safe underground mining and operations, with accuracy and ease that is currently inaccessible.

It is no wonder that  have some super-eager early customers. 🛠️

Opportunities are not just in critical minerals mining, but in monitoring of CO2 sequestration and aquifers, to environmental monitoring, and beyond.  

The value of Strategic Partnerships - Joyned and NexusTours

Very often , strategic partnerships are more valuable than venture capital!

There is no dilution in your existing business , and there is shared profit/revenue on business that you do together! 

Often a win win win at its finest! 

A win for each other party and more important a win for the customer! 

An example of a strategic partnership at its finest 

Israeli startup Joyned - an innovative social booking technology will be used across  NexusTours online platforms. (serving the Caribbean, Central America, and North America.)

This strategic partnership will enhance the travel experience for users in 20 countries across these regions. The technology enables people to invite friends and family to the NexusTours websites, and collaborate in a private, on-site platform to discuss and book group trips.

A win for the customer 

Joyned’s technology  transforms the reservation process for Friends & Family (F&F) travelers, resulting in significantly higher conversion rates and an enhanced user experience for businesses utilizing the Joyned Booking system.

Jonathan Abraham, CEO of Joyned, said: “”we look forward to working closely together in future to provide the best experience possible to customers. “

A win for Nexus Tours 

Joyned Booking will shorten the decisions and debates of customers in real-time, while F&F travelers explore NexusTours’ site offering which includes a choice of trips to 58 different destinations.

Rubén Gutiérrez, President of NexusTours, enthused: “Through the utilization of Joyned’s booking technology, we’re not only able to enhance the customer experience, but also maintain a competitive edge in our industry. So far, we have seen an impressive 20% increase in conversion rate among customers 

A win for Joyned 

Their technology is being deployed and enhanced that can hopefully make it ubiquitous for the travel industry 

Kevin O’Hara, thanks for the heads up boet! 

OIf Venture fund to raise $75m to back ARR 10m plus companies

OIF team members David Shein, Jerry Stesel, Laurence Schwartz ,Geoff Levy, Isabella Rich,, David Cohen, Oliver Darwin , Anna Isipov and Keren Dorfan.

Founders from Go1, Instaclustr have backed OIF Ventures in their $75m raise for another opportunity fund.

This fund  is focussed on investing in  technology businesses that have more than $10 million in annual recurring revenue (ARR).

OIF investments include Go1 and Advanced Navigation - 

It’s previous funds have returned more than 3x to investors in cash, net of all fees, 

with eight major portfolio companies remaining including Go1, Advanced Navigation, Kasada, and Enboarder, 

In 2022 their exit from interclustr gave a  20x return, and in 2021 exited XM Cyber, EFTsure and 50 per cent of Assignar.

Other OIF investments include 

• funeral industry disruptor Bare, 
• online bridging loan fintech Bridgit, 
• legal tech software provider Josef, and 
• large-scale construction program dashboard Mastt. 

About OIf 

The mission at OIF is simple: to partner with exceptional founders, add material value to them and their businesses and to do our best to help them succeed. If they succeed, so too will our investors. 

  

They have high-conviction in the power of the founders and they back to build generational teams and businesses that set the standard globally and they strive  to be their partner of choice – 

  

As long-term partners and investors, they are  confident that exceptional founders will continue to launch exceptional businesses and that OIF Ventures will be in their corner every step of the way. 

  

Grant funding to support innovative startup projects

$392m Industry Growth Program opens for consultation (http://innovationaus.com), a new early-stage commercialisation initiative to bridge the ‘valley of death’ facing young SMEs working on innovative projects that align with the National Reconstruction Fund.

A $392 million Industry Growth Program to help early-stage commercialisation of SMEs working on innovative projects that align with the National Reconstruction Fund is being planned and is open for consultation .

The program is expected to provide advice and matched grant funding of up to $5 million to startups and SME’s, with the aim of expanding the pipeline of investment-ready projects for the $15 billion National Reconstruction Fund (NRF).

Projects and companies supported 

, 

1. Value add agriculture 
2. forestry and fisheries; 
3. value-add in resources; 
4. transport; 
5. medical science; 
6. renewables and low emissions technologies; 
7. defence capability; 
8. and enabling capabilities.

“particularly keen to help bridge the ‘valley of death’ – where great ideas, often backed by solid research, are hamstrung only by a lack of funding and expertise.” Said Minister Ed Husic 

“This consultation is about creating the right conditions to ensure brilliant Australian entrepreneurs can grow and thrive here at home,” he said, adding that the program was “setting up the next wave of Australian businesses to thrive for years to come.”

According to the discussion paper, the program will focus on “industry-led activities”, like those of “innovative SMEs looking to scale-up and commercialise their operations”, and that industry research collaborations are only “potentially eligible.”

“We intend the program to focus on those that will benefit the most from advice and financial support. 

This may be due to their difficult assessing expertise, networks, finance or other causes,” the paper states.

“The commercialisation will focus on encouraging innovative SMEs to get their unique ideas to market and achieve first sales. 

The early-stage growth element… is expected to focus on pre-profit SMEs with novel ideas and are now seeking to scale their operations”.

Support will come in the form of both advice from Industry Growth Program (IGP) advisers and industry partner organisations, as well as matched grants of up to $250,000 for very early-stage commercialisation and up to $5 million for all other projects.

The Department of Industry, Science and Resources will engage IGP advisers to “provide guidance on commercialisation and SME growth” to businesses, while industry partner organsiations – which are yet to be determined – will also provide “specialised advisory and support services” in some cases.

“We propose that organisations wanting to be classified as an industry partner organization will need to apply and be considered through government selection processes,” the discussion paper states.

Only grant applications for projects that have been invited by an IGP advisers, industry partner organisations, or the IGP’s executive director will be accepted by the government, according to the paper.

At least 50 per cent of the project that aligns with an NRF priority area will also need to be funded by the SME, with the proponent expected to provide evidence of their ability to fund the remainder of the project.

“Only the most promising projects proposed by innovative SMES that have received advisory services will be invited to apply for grant funding,” the discussion paper, released on Wednesday, said.

Program oversight and recommendations on grant assessments will be provided by a new committee, which will be established under the delegation of the Industry Innovation and Science Australia Board.

As part of the consultation, the government is requesting feedback on the criteria for the program, including whether it should be limited to businesses with a turnover of $20 million or less, and whether Technology Readiness Levels should be used to determine eligibility of a project.

It also wants to understand how the program might complement other university, industry or government initiatives, with the government already looking at opportunities to link the IGP with Australia’s Economic Accelerator and CRCs.

“The Australian government wants to ensure it has a competitive program to nurture innovative companies to become the big employers of the future,” the discussion paper states.

“The program’s strong focus on commercialisation and early-stage business growth advice, combined with grants, aims to be a high-impact, cost-effective way to back Australia ideas and build capability.”

The consultation will close on 30 July 2023. The discussion paper can be found here.

Do you know more? Contact James Riley via Email.

Related: Ed Husic | Industry Growth Program | National Reconstruction Fund | NRF

Hannah Spilva - exited LVLY and shares insights with Leigh and Brad

Hannah Spilva shared the stage giving insights on tips for Entepreneurs to exit with Leigh Jasper who sold his startup  Aconex for $1.6b and Brad Moran who recently sold Citrusad to Publicitas for $205m!

Hannah and her partner Verity Tuck, sold her local flower delivery startup LVLY in 2015 for $35 million by south-east Asian tech firm Limitless Technology last year (in 2022)

4 secrets of a high value exit from Hannah

• International focus
• The right buyer - Limitless Technology launches, scales, and acquires profitable e-brands across Asia Pacific, with a focus on gifts, confectionery, health, and fashion. 
• Exponential revenue growth - 629% in 3 years - reaching  $13.9 million, with 162 employees working from its locations in Melbourne, Sydney, Adelaide and across Australia. 
• A strong social and environmental conscience -  guided by 3 simple principles – to be lovely to people, lovely to Australia and lovely to our planet
• Supporting local and treading lightly on the planet is underpinned by our Paddock to PosyTMsupply chain working with local growers and wholesalers.”

Spilva and Tuck both worked in advertising bl (before lvly) and  saw  a glaring gap in the online flower and gift-giving market. 

They built a flower business  settting a  standard for same-day delivery - with a simple easy to use platform .

Frntln, beyonces dad and tiktok style learning videos raise $4.5m seed round

Frntlne founded by music and entertainment Entepreneur,   Mark John min 2021 - has raised  $4.6 million by Matt Berriman’s RealVC, Investible and Navitas founder Rod Jones’ family office and Hoperidge Capital . 

John  is being mentored by Beyoncé  dad Dr Mathew Knowles PhD, who presented the platform to a group of high profile retail and pharmaceutical chains in the UK (pictured above) . 

Mark saw a gap when experiencing shocking customer service from retailers! 

What is Frntln?

Frntlne is an online training platform engaging  frontline staff in the retail, hospitality, and pharmaceutical industries using Tik tok  style videos followed by a short quiz .

The format was developed with education expert David Isaacson using cognitive load theory, which is designed to develop better memory recall , increasing information retention and make learning fun.”

These snippets are tailored to help sales staff deliver the best possible customer experience, as well as high sales conversions for brands and retailers. 

"If we can deliver information in an entertaining and informative kind of way - similar to what you see on TikTok - the learner feels that it's easy enough, it's fun enough, and they want to engage with it," Mr John shared with the AFR .

Clients and Distributors 

Clients include  Coles, L’Oreal, P&G, Swisse, Mumm Champagne and Bondi Sands, and has recently secured its first international partnership with southeast Asian alcohol distributor Octopus Group.

Octopus has a global footprint with the potential to reach over 3,000 hospitality venues with over 600 brands in Singapore and Malaysia .Their brands include household brands like the Diageo portfolio, the Stoli group and the AVL portfolio.

John’s vision 

John’s shared his vision with Morganne Kopittke of smartcompany 

“Our aim is to redefine the in-store customer service experience and we’re very excited for the future. We want to be the most valuable online tool for education and data collection in the markets we work across a broad range of industries including but not limited to hospitality, retail, pharmacy, and aviation,”

What is the money raised for? 

The money raised is  being raised for  global expansion into UK , Singapore and UaE. 

Welcome to the #nexttechrevolution 

Covid helps Espresso displays go viral

Espresso Displays co-founders (from left to right): Scott McKeon, Will Scuderi, Fabian Maritato and Gary Caldarola. Photo Nic Walker

Espresso Displays has landed seed investment from Richard White  after bootstrapping from crowdfnding .

Espresso recognised that workers require flexibility and tools to work from anywhere, and created the portable screen….. enabling workers to be as productive from the local cafe or kitchen table as they could be in an office setting, given the right tools.

 In 2018, within 24 hours of posting a discounted prototype with a $300 price tag on Kickstarter’s crowdfunding platform, the duo had secured $10,000 worth of pre-sales. By the third day this had risen to $100,000.

And then Covid struck cementing flexibility into modern work practices. They had $1 million worth of pre-sales and customers in 35 countries waiting for its product.

Their Turnover has  grown to $5m in last 6 months and staff has grown to 30 as people regard the Espresso as a “must-have” productivity tool 

The secret - google AdWords, word of mouth,  Covid  and an amazing product at a reasonable price . 

Mitronics founder Roger Amir says it’s a must have for every employee 

Scuderi spent Covid lockdown  holed up in an apartment in the electronics capital of the world setting up Espresso’s supply chain

” You have to hustle your way through China but that doesn’t mean you can’t be successful there.”

Espresso says Australia is a great place to start and grow a business, and to test new products.

Gems from the collection founders 

Will Scuderi tells Agnes King at  AFR 

Ignore naysayers and don’t be afraid to swim against the tide.

He says the research and development tax rebate makes domestic engineering talent “relatively affordable compared to the rest of the world”.

Want to know more about the RandD  tax concession ? 

Speak to Mick Lynch at BSI Innovation!

www.bsiinnovation.com.au

WIne Tasting

 These are the wines that we will send to you if you are open to give us honest feedback

Click here to register 

Name

Email 

New Australian Government Initiatives

In addition to the hugely successful R&D and Export Market Development Grant Programmes - the new labour government is looking at implementing the new programmes promised in the 2023 budget 

• Jobs & Skills Australia, 
• establishing the $15 billion National Reconstruction Fund, and 
• developing the country’s first National Quantum Strategy. developing a National Robotics Strategy.

other budget funding

• $1 billion for the Clean Energy Finance Corporation for energy efficient home upgrades
• $2 billion for a new Hydrogen Headstart programme
• $28 million over two years for Australia’s first National Climate Risk Assessment and a National Adaptation Plan
• $101 million for critical technology industries including $20 million over four years for an Australian Centre for Quantum Growth, and $40 million to incentivise business uptake
• $40 million for a National AI Centre and funding for businesses to adopt AI technologies
• $9 million for STEM education programmes
• And $20.9 million over five years for decarbonising transport and infrastructure, including developing a Transport and Infrastructure Net Zero Roadmap and Action Plan.
• $6.7 million in funding to develop a Future Gas Strategy to support a goal to reach 82 per cent renewables by 2030.
• $14.3 million to partner with the Queensland Government in R&D into reducing emissions in the energy resources sector.
• $19 billion in funding and $7.8 billion in savings on existing programmes.
• $3.8 billion for defence infrastructure in northern Australia, 
• $4.1 billion for long-range strike weapons and to develop missile manufacturing capacity, and 
• $3.4 billion over 10 years for an Advanced Strategic Capabilities Accelerator to spur defence industry innovation.
• Small business energy bill relief of $314 million to help up to 3.8 million SMEs save on energy bills through tax deductions for investing in the efficient use of energy
• Creation of a National Net Zero Authority to help workers and companies in polluting industries such as coal, gas or manufacturing to transition to cleaner industries
• $146.1 million to support electric vehicle uptake
• Petroleum Resources Rent Tax reform to raise $2.4 billion.

https://www.aumanufacturing.com.au/all-the-budget-news-that-hasnt-been-previously-leaked

Nvidia - designs chip for AI servers - valued at $1 trillion

Who would have thought? NVIDIAs shares rise to $1 trillion

https://australianinnovation.blogspot.com/2023/05/nvidia-became-first-chipmaker-to-hit.html

. 

AI in the HR industry and Aussie Tech

AI in the HR industry is big business - With an estimated value of US$5.26 billion in 2023, going up to US$10.7 billion by 2028, the global artificial intelligence in the HR market is rising rapidly with a CAGR (compound annual growth rate) of 15.3%. 

And Australian HR tech is keen to get a slice of this pie with  Swag by Employment Hero and Martian Logic 

Ben Thompson - founder of unicorn Employment Hero tells Anastasia Santoreneo of Forbes that 

“The fusion of AI and HR not only boosts efficiency but also fosters a culture of innovation, where data-driven decision-making and human intuition intersect, shaping the future of work” 

1.  how do you easily wrote job descriptions 
2. How to match candidates to ideal jobs
3. Predicting a business hiring needs based on past performance and projections 
4. Getting the right person for the right role sooner 

Martian Logic has been building tools for for HR teams to succeed on building teams, retaining employees and supporting managers doing this for years and its tech with the help of AI gets better and better! 

“Hearing people say, ‘this has changed my life’, is what I love the most. It’s what kept me going through the harder times and what drives me today” (founder Anwar Khalil)

Employment Hero has launched an AI hiring tool called Swag.

The new “superapp” leverages artificial intelligence to streamline the recruitment process. For example, it can use AI to produce first-draft job descriptions, predict a business’ future hiring needs, match eligible candidates with suitable roles and post jobs to job boards.

The Swag Career feature gives job seekers access to a free jobs board called Swag Jobs, where they can create a digital employment passport to view job ads. SMEs get free access to these applicants without posting or advertising costs, directly in competition with one of Employment Hero’s backers,SEEK. Businesses that work with Employment Hero – including those on its freemium tier – get Swag included.

Swag offers employees  a loyalty card called instapay enabling employees to access their wages early - (up to $250 per week) to shop at certain stores - that will give them discounts .

Exciting times in the HR Tech and AI space methinks

Martian Logic https://martianlogic.com/

Swag and Employment Hero https://employmenthero.com/products/swag-employment-superapp/

Change of Government - change of grant programmes

The Department of Industry, Science and Resources is looking  to launch  a  $392 million Industry Growth Program in late 2023 - that was unveiled in the Federal Budget earlier this month.

The Industry Growth Programme  is to build funded centres of support (to be self sustaining in 18 months ) and is aimed to help SMEs and startups get their ideas off the ground .

 The programme is aligned with the priority areas of the $15 billion National Reconstruction Fund which is expected to be operational in some capacity by the end of the year.

Industry and Science Minister Ed Husic said: “This end-to-end approach will maximise the return on taxpayers’ investments and provide a clear pathway for our entrepreneurs to turn their ideas into thriving businesses in Australia instead of overseas.”

The funded centres - providing services vs funding are expected to become self-sustaining by the middle of next year when the program concludes, although they may yet play a role in the Industry Growth Program.

The program is being funded by  replacing  elements of the maligned Entrepreneurs Programme, which was the subject of a damning audit last year.

The fallout of the maligned entrepreneurs programme 

Jessie Wu of after work ventures shares the frustration of startups and innovators going through pain from  pulling of the failed Entrepreneurs Programme.

 

The only certain thing for a startup is uncertainty! 

“The word ‘technology’ appears 7 times in the Treasurer Jim Chalmers’ recent budget speech, but both Federal and State governments have been quietly pulling funding from programs that support innovation and entrepreneurship: 

- The NSW MVP Ventures Grant which provided $200k to startups is on hold as part of a Comprehensive Expenditure Review (https://lnkd.in/eP_MwcYE) 

- The Accelerating Commercialisation program which provided up to $1m in matched funding to commercialise technologies has been shut down (https://lnkd.in/ezhumCqi) 

- The Entrepreneur’s Program which provided expert advice, support, and funding for startups and small businesses has closed; all staff have been let go (https://lnkd.in/ecDX4PhP) 

- The Boosting Female Founders program which provided $250k - $500k to female-founded startups has frozen applications (https://lnkd.in/eg2VTtcH) 

- The Manufacturing Modernisation Fund which provided up to $1m for SMEs to transform manufacturing practices with new technologies has frozen applications (https://lnkd.in/ecDX4PhP) 

A new program, new Executive, new independent review committee, and new set of eligibility criteria is all very well for new governments’ desire to make their mark and cut ribbons, but it ultimately leaves startups and SMEs in the lurch. 

Startups don’t have the luxury of time to wait around for governments to get their sh*t in order. Many were in the middle of (incredibly onerous) application processes, only to be unceremoniously notified the whole program was shutting down. 

In a sector where uncertainty is a constant, governments are most helpful when they can provide stability - in policies, sources of funding, and tax incentives to invest in entrepreneurship.”

Has the government got the capability of choosing winners? If a founder can’t get VC - should the government back them? 

There is still some great Australian Grant programmes… if you want to know more , speak to Mick or  Peter at www.bsiinnovation.com.Au 

 

The Aust Govt support in the form of R&D incentives  is still one of the most generous support programs in the world. 

And the EMDG export grant helps take Aussie business owners and leaders  offshore.

Great insight by Kyle Bolto 

Start up is not only a contest of ideas but a contest of execution and finding a way. If you can’t work this out independently of govt support I would say that’s a hard filter. 

honestly, if you need government support for a $50k MVP as a startup you're not really cut out for it. 

It means, you either don't have the hard skills to build something yourself, or you can't attract people who can build with you, or you can't excite yourself, your family or anyone enough to back your vision.

Everyone has ideas, not many can actually build things, it's not the governments job to fund that gap at MVP stage, in my opinion.

As a data driven founder I’m always happy to see real data to change my mind. (opinions are not data).

Roy Green - Special Innovation Adviser, University of Technology Sydney., says  it potentially offers a new lease of life for the Industry Growth Centres, albeit through service provision rather than operational funding support.

The concept is that support should go to projects that would not have occurred without government intervention, rather than funding projects that would in any case have attracted private funding 

will be further opportunities in the future for the much needed development of Australia’s research and innovation system.

This will be the key to creating long term growth and jobs.

www.bsiinnovation.com.Au 

Kinde supporting Startups, Innovators and SAAS Based Companies

If you are a startup or looking to build an app or saas product - speak to the team at Kinde .

Building a startup is not for the feint hearted and you need all the help that you can get... focus on what you are really good at and build a team around you that can help you with what you need to do to scale your vision!!

People generally become overnight successes after 10 or 20 years!!

Live the dream!!

Great post Ross Chaldecott ....

Here’s the thing. If you’re founding a startup – and particularly if it’s going to be successful – then you’re going to be at it for a long time. It’s going to be your life for 5, 10, 15 years. It may even be the last job you ever have. So you’d better make sure you’re solving a problem that you are in love with. Something that you are going to be passionate about years from today. And something that you can convince others to believe in also. Startups are not get-rich-quick schemes – they are long term investments of time, money and energy.

Kinde is built on this mindset. The problem of developer infrastructure is one that almost everyone in our team has personally experienced over their careers. It is also a problem that many of us have wanted to solve at some point. I believe it’s one of the last true universal problems that exists in tech today. A problem that affects every SaaS business at every stage.

And so, even when things feel tough, we can still come back to the fact that the work we do is having a real impact on people’s abilities to advance humanity and change the world. Which feels like a pretty worthwhile thing to invest time into.

#startup #tech #business

Some VC milestones and metrics

Thanks KPMG growth Ventures 

While the underlying metrics are stage, industry and business model dependent, there are 7 that Rajeev Gupta from ALIUM Capital and Jerry S. from OIF Ventures say would make a no-brainer investment this year:

💁 A lifetime value (LTV) to customer acquisition cost (CAC) of 3x and above. This means for every dollar spent on the cost of acquisition, you’re generating $3 of lifetime value.

🔥 A burn multiple of two times or less, which means for every $2 of burn, you’re generating at least a dollar of recurring income.

💰 Less than 12-months payback on your cost of acquisition.

🤝 Net dollar retention of above a hundred percent. 110% to 120% is a very strong metric which shows your net churn on your existing customer base is growing at 10-20% per annum.

📈 30-40% revenue growth and a gross margin of 70%, plus an operating margin of 2-3 years at 20-30%.

🧑 Revenue per employee of $150,000. If you can hit this amount, this means you can cover your employee costs.

🔬 20-30% R&D spend and 15-20% sales and marketing spend.

Psst: this snippet was taken from our most recent Q&A on efficient growth and profitability. Check out the full recording and summary wrap-up in the comments!

Inside the mind of Elon Musk

Safian Frivol and his mates interview Elon Musk talking AI, Twitter, Tesla and a whole heap of stuff !!

Some Gems

 

💎 “the only public stock I have is Tesla - and focus and invest in companies I am involved with”

💎 If you are really good at something and add value to the customer - you will grow and acquire or get acquired!! 

💎 In each major industry - there will be just a few players !

Candy - 3 major players

Cars 

Dog food 

Social Media

AI

💎 hitchhikers guide to the galaxy - we don’t know the questions to ask or the answers  - but the universe is the answer . Increase consciousness - machine or man - doesn’t really matter. We (earth) are just a dot on the landscape 

💎 the internet changed humanity - the internet is the nervous system - all knowledge is immediately available 

💎 communication used to be by diffusion - by a letter - then by phone - no library no knowledge - now you have access to all knowledge - profound change 

💎 changing human dna - crispr - changing gender - is it ok !! Prevent diseases … our bodies are just vessels and tools 

💎 if you going to die from cancer at 55 - edit it out of the dna  

💎 AI - game changer - keep our consciousness going in a sustainable way 

💎 climate - fossil fuels - high energy to low energy - hydrocarbons - can replace fossils -  abundant - carbon tax - no brainer 

💎 We don’t know what we don’t know - and we are all scared of change . The key to his success is his propensity to break through barriers - to take those risks to solve those wicked problems 

Lots more …..

Great Insight from AirBNB founder

Airbnb CEO Brian Chesky tells Jason Calicanis focus almost ALL of their energy and  time on three things:

1) product

2) marketing

3) hiring

And building one fully-integrated organization.

No splintered divisions or subdivisions.

There is ONE roadmap, with two annual release cycles (May and November).

This helps alignment - with teams focussing on one direction and one goal! 

He found that more divisions and smaller teams with different goals -made them think smaller, not BIGGER, created a lack of accountability and more bureaucracy and unnecessary internal politics… resulting in fewer decisions being made and stagnation 

At Airbnb, the management team now aims for less bureaucracy and higher-quality product releases.

Brian is now hands-on with EVERY product decision, and things have never been running smoother.

He spends almost all of his time: 

1) reviewing work (product + marketing) and 

2) hiring people, while spending almost no time on "corporate matters."

1. Be more hands on - focus on product, hiring and marketing 
2. Focus on an aligned strategy agreed by all 
3. Reduce bureaucracy and internal politics

See interview

Comments

Ha Nguyen 

I’ve heard from those inside the company that AirBnB is the slowest moving company where folks have ever worked. 

The challenge for startup founders is how to make sure you create a culture and environment where individuals and teams are aligned around priorities but still feel a sense of empowerment and accountability (and not sacrifice speed).

Wow! Need a Brian 101 on how to run a successful product-based company. Working in silos, not relating to one another's roadmaps, and generating unnecessary noise and bureaucracy seem to be widespread issues across organizations. And then we expect end users to tell us what works best and what doesn't when there is so much turmoil internally!

What strategies can be done to prevent Working in silos, not relating to one another's roadmaps, and generating unnecessary noise and bureaucracy ?