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If The Shoe Fits: Yea vs. Nay

Friday, May 19th, 2017

A Friday series exploring Startups and the people who make them go. Read all If the Shoe Fits posts here.

5726760809_bf0bf0f558_mBill “Badger Bill” Whyte, founder of W.S. Badger, with $16 million in revenue and 100 employees, is an excellent role model for any entrepreneur who wants to grow and run a successful, socially responsible business that treats its people fairly. His thoughts on the subject are succinct and simple.

“You can be financially successful and be a big jerk, or you can be financially successful and be a contributor to making the world better. I know which way I’d like Badger to move.”

Other great founder role models include Anand Sanwal of CB Insights and Marc Benioff of Salesforce, among many others.

However, if you are looking instead for a role model that represents the worst of Silicon Valley look no further than Evan Spiegel.

Spiegel’s boundless arrogance was on full show in the company’s first earnings call with analysts.

During the event, many analysts’ questions about the company were dismissed by Mr. Spiegel. None of the executives made a particularly impassioned case for why the business would be a success over the long term.

But what else would you expect from founders who already dumped much of their stock?

Spiegel, his co-founder Bobby Murphy and Snap’s largest venture investor, Benchmark, sold significant amounts of their stock when the company went public

Along with the current $2.2 billion loss is the whistleblower lawsuit claiming the pre-IPO metrics were inflated.

Malcolm Berko provided the best comment I’ve seen regarding all those who ignored the warnings in the prospectus, bought the stock, and are complaining.

When greed succeeds, everyone smiles. When greed fails, everyone wails.

Image credit: HikingArtist

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