First Cheque with Cheryl Mack & Maxine Minter 
About Eric Ries
Eric Ries is an American entrepreneur and author best known for the Lean Startup methodology, which changed how many founders build and test new ventures. He co-founded IMVU, an online social network, and later founded the Long-Term Stock Exchange, a US securities exchange for companies focused on long-term value, which the SEC approved in 2019.
His books are The Lean Startup, The Startup Way and Incorruptible, which examines why companies drift from their mission once investors and boards take over, and what founders and early investors can do about it.
On Day One's First Cheque, Ries discussed what investors get wrong about governance.
- Talks about
- Leadership, Startup Lessons, Venture Capital
In conversation.
1 episode
First Cheque with Cheryl Mack & Maxine Minter Go straight to the good bits.
Key moments from Eric Ries on What Investors Get Wrong About Governance.
- 4:10Eric’s first investment: his own money into IMVU’s friends-and-family round
- 9:15From Lean Startup to Incorruptible: one continuous project
- 17:40The tortilla company, private equity and pricing power
- 21:30Why so-called governance best practices are often value-destroying
- 25:50Naming the problem: financial gravity
- 30:20What founders and early investors can do at the earliest stage
- 36:45The Olympic-athlete analogy: build protections in early
- 41:10The spiritual holding company, via Novo Nordisk
- 48:30Why “good governance” companies have underperformed since 2008
- 52:15The Purdue Pharma story: how a million dollars destroyed a company
The path so far.
- 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
Long-Term Stock Exchange on Day One
The Long-Term Stock Exchange (LTSE) is a US national securities exchange founded by entrepreneur and author Eric Ries to align companies and investors around long-term…
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