Bill Gross: 2 Reasons Companies Can Fail
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0:03 - 0:08On the first part of your question on some lessons from a failure,
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0:08 - 0:13it's almost always a team or running out of money.
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0:13 - 0:15Team issues, when the team doesn't get along or doesn't have all
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0:15 - 0:20the skills or team spending too fast and doesn't conserve cash.
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0:20 - 0:23The first one is probably the harder one because finding
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0:23 - 0:26great people that have all the skills is always hard.
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0:26 - 0:27The second one should be easy.
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0:27 - 0:31But sometimes people are often so worried,
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0:31 - 0:34and this was one of the excesses of the dotcom crash, about,
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0:34 - 0:35"If I don't spend the money now,
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0:36 - 0:39I'm going to lose the market share. It's about to
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0:39 - 0:40go away. It's going to get way more expensive."
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0:40 - 0:42That's always the excuse for spending faster.
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0:42 - 0:46I haven't seen too many cases where that works.
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0:46 - 0:49It does work sometimes. I mean, there are cases where there truly is
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0:49 - 0:52a raise to a winner-take-all-like market.
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0:52 - 0:56But usually, the better executor with the greater persistence wins.
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0:56 - 0:57So, I would say those would be the
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0:57 - 0:58two biggest lessons from a failure.
- Title:
- Bill Gross: 2 Reasons Companies Can Fail
- Description:
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Idealab Founder and CEO Bill Gross offers lessons he has learned from company failures. According to Gross, company failures are often due to two common factors: team issues and running out of funding. He also shares his reasoning on why the most successful entrepreneurs are those with the best execution and the most persistence.
View more clips and share your comments at http://ecorner.stanford.edu/authorMaterialInfo.html?mid=2668
- Video Language:
- English
- Team:
Stanford Entrepreneurship Corner
- Duration:
- 01:04
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