Yesterday’s Oldie talked about one of the biggest lies perpetrated on an already vulnerable Millennial audience — relentless striving 24/7.

It’s a great article — equal parts enlightening and alarming.

Welcome to hustle culture. It is obsessed with striving, relentlessly positive, devoid of humor, and — once you notice it — impossible to escape.

According to Erin Griffith (@eringriffith), writing in the New York Times, the biggest drivers perpetuating the scam do so to line their own pocket.

“The vast majority of people beating the drums of hustle-mania are not the people doing the actual work. They’re the managers, financiers and owners,” said David Heinemeier Hansson, the co-founder of Basecamp.

In 2016 Marissa Mayer, of Yahoo infamy, claimed a person could work 130 hours a week was possible “if you’re strategic about when you sleep, when you shower, and how often you go to the bathroom.”

Many companies extoll the approach and incorporate it into their culture, but WeWork has gone further and built its business around it and is a good example of how this philosophy in action looks more like a cult than a culture.

It has exported its brand of performative workaholism to 27 countries, with 400,000 tenants, including workers from 30 percent of the Global Fortune 500.

But it took Gary Vaynerchuk, the patron saint of hustling and founder of One37pm to “glorify ambition not as a means to an end, but as a lifestyle.”

It’s a lifestyle that has made a fetish of convenience, not for the sake of a better, more well-rounded life, but as a way to free up more time to work.

Finally, without doubt, it can be stated that hustle is a culture with no redeeming features. It sucks humanity from its followers, then uses up and destroys the most devout.

Image credit: Hermann Kaser

I, and dozens of others, have written on the negative and downright destructive effects from social media’s FOMO.

However, I hadn’t given any thought to the idea that it had invaded the workplace, too.

As if email [at work] wasn’t bad enough at cultivating FOMO, we now have a new generation of real-time tools like chat to stoke it. Yet another thing that asks for your continuous partial attention all day on the premise that you can’t miss out.

FOMO is just as detrimental at work as it is personally. It distracts, interrupts conversations, and destroys focus.

Basecamp noticed and not only created a solution, but also gave it a catchy, sharable name.

People should be missing out! Most people should miss out on most things most of the time. That’s what we try to encourage at my company, Basecamp. JOMO! The joy of missing out.

It’s JOMO that lets you turn off the firehose of information and chatter and interruptions to actually get the right shit done. It’s JOMO that lets you catch up on what happened today as a single summary email tomorrow morning rather than with a drip-drip-drip feed throughout the day.

Once again, Basecamp hits a homerun. (Two previous posts, here and here, talk about others.)

If you’re impressed with Basecamp’s ideas, you’ll not only enjoy It Doesn’t Have to Be Crazy at Work, by Basecamp co-founders Jason Fried and David Heinemeier Hansson, you’ll also find solutions you can use.

Image credit: Basecamp

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

This is a short post, aside from the quotes, and I honestly don’t care if you skip my part and just read the  main links, especially the last on from DHH.

It’s exactly two years since I saw a successful lifestyle business founder, Andrew Wilkinson of MetaLab and Flow, loudly and publicly say that he would rather be a horse than a unicorn.

Meaning, he would rather build his businesses organically and self-funded than take outside investment.

I wondered if his attitude was a harbinger of returning sanity.

Ha! Wilkinson’s attitude was an outlier, as opposed to a trend.

However, early as he was I see more successful founders following a similar path.

A few days ago I read a Medium post from Mara Zepeda, Co-founder and CEO of Switchboard, and Jennifer Brandel Co-founder and CEO of Hearken, coining a new term, zebra, to denote a sustainable approach to growth.

A year ago we wrote “Sex & Startups.” The premise was this: The current technology and venture capital structure is broken. It rewards quantity over quality, consumption over creation, quick exits over sustainable growth, and shareholder profit over shared prosperity. It chases after “unicorn” companies bent on “disruption” rather than supporting businesses that repair, cultivate, and connect. After publishing the essay, we heard from hundreds of founders, investors, and advocates who agreed: “We cannot win at this game.”

Adam Eskin, founder and CEO of expanding restaurant chain Dig Inn and a former private equity associate at Wexford Capital puts it this way,

“Having a background in private equity, we don’t just want to grow this business for growth’s sake, lose passion for what we do, or the reasons why we’re here. I think that’s what some folks can end up doing when they raise this kind of capital.”

As a tech person, who has been seduced into believing that valuation is everything, why should you listen to an outlier or non-tech founder, let alone a couple of women?

Perhaps you’ll be more inclined to listening to the guy whose tech generates raves and may even be the source code of your company.

DHH (David Heinemeier Hansson), creator of Ruby on Rails, Founder & CTO at Basecamp (formerly 37signals), writer of best-selling books and winning LeMans racecar driver.

There is no higher God in Silicon Valley than growth. No sacrifice too big for its craving altar. As long as you keep your curve exponential, all your sins will be forgotten at the exit. (…)  The solution isn’t simple, but we’re in dire need of a strong counter culture, some mass infusion of the 1960s spirit. To offer realistic, ethical alternatives to the exponential growth logic. Ones that’ll benefit not just a gilded few, but all of us. The future literally depends on it.

Image credit: HikingArtist

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

Last Friday I compared valuation based on investment vs. revenue with AppLovin as my example.

Put another way, it’s the difference between focusing on outside money and inside money, AKA, revenue.

“One of the problems with raising money is it teaches you bad habits from the start,” said Jason Fried, the co-founder of the software company Basecamp, who has written frequently on the perversions of the venture capital industry. “If you’re an entrepreneur and you have a bunch of money in the bank, you get good at spending money.”
But if companies are forced to generate revenue from the beginning, “what you get really good at is making money,” Mr. Fried said. “And that’s a much better habit for a business to work on early on, to survive on their own rather than be dependent on money people.”

That’s the approach embraced by 16 year-old MailChimp, with 2015 revenue of $280 million and will top $400 million this year.

As a private company, MailChimp has long kept its business metrics secret, but founder Ben Chestnut wants to publicize its numbers now to show the road less traveled: If you want to run a successful tech company, you don’t have to follow the path of “Silicon Valley.” You can simply start a business, run it to serve your customers, and forget about outside investors and growth at any cost.

Chestnut also doesn’t have a Silicon Valley ego, as demonstrated when defining the company’s values

I asked all of our managers and senior managers to help me out with them, and we came up with three: creativity, humility and independence.

and hiring.

I’m looking for that philosophy because I want someone to push me and make me better. I want people who are smarter than me, and who will push and fight for something they believe in while also respecting the values and unique nature of the company. We have to be creative in pushing our boundaries, but sticking to our values.

There is an interesting thread I find running through founders who bootstrap and build their companies by focusing on generating revenue, as opposed to fundraising and hypergrowth.

Both types have vision, focus, drive and grit, but, based on reading, those building their companies on internal money don’t seem to have the same need for validation — not of their vision, but of themselves.

Image credit: HikingArtist