Eric Ries
Author of The Lean Startup; Founder at Long-Term Stock Exchange
Eric Ries is an American entrepreneur and author best known for creating the Lean Startup methodology, which reshaped how founders build and measure new ventures. He founded IMVU, the virtual-reality platform, and later launched the Long-Term Stock Exchange to champion long-term-oriented governance for public companies. His books include The Lean Startup, The Startup Way and, most recently, Incorruptible, which examines how governance and incentives shape corporate behaviour. On Day One's First Cheque, Ries discussed what investors get wrong about governance.
Career
- Now Author of The Lean Startup; Founder · Long-Term Stock Exchange
- Earlier Venture Advisor · Kleiner Perkins
- 2004–2008 · Startup Co-founder & CTO · IMVU
- 2001–2003 · Startup Software Engineer · There, Inc.
- Earlier · Startup Co-founder · Catalyst Recruiting
Sources: en.wikipedia.org
Key moments
Jump straight to the part of Eric Ries on What Investors Get Wrong About Governance you want.
- 4:10 Eric’s first investment: his own money into IMVU’s friends-and-family round
- 9:15 From Lean Startup to Incorruptible: one continuous project
- 17:40 The tortilla company, private equity and pricing power
- 21:30 Why so-called governance best practices are often value-destroying
- 25:50 Naming the problem: financial gravity
- 30:20 What founders and early investors can do at the earliest stage
- 36:45 The Olympic-athlete analogy: build protections in early
- 41:10 The spiritual holding company, via Novo Nordisk
- 48:30 Why “good governance” companies have underperformed since 2008
- 52:15 The Purdue Pharma story: how a million dollars destroyed a company
Connections
Spot something wrong? Suggest a correction Updated 25 September 2026
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