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Sukhinder Singh Cassidy22 October 2021

Sukhinder Singh Cassidy on Entrepreneurship (Podcast)

4Frameworks
8Insights

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Frameworks in this episode

Insights & moments

The myth-busts, hot takes, explainers, and tools worth keeping.

Hot Take· 1

Hot Take41:40

Women Can Recommend Tech Without Pretending Its Bias Does Not Exist

Cassidy's open letter challenged the idea that women's experiences in technology must be described as either entirely positive or entirely discriminatory. Her survey found that many women reported bias while still recommending technology entrepreneurship, including to their daughters, creating a case for participation and systemic reform at the same time.

  • Cassidy surveyed 100 women across technology leadership and entrepreneurship.
  • Many respondents directly experienced bias or discrimination.
  • A large majority still recommended entrepreneurship in technology.
  • The letter encouraged women not to abandon the industry.
  • It also demanded that technology leaders address inequality with the same problem-solving ambition applied elsewhere.

“every day women get up and choose possibility.”

Sukhinder Singh Cassidy · 43:30

“Why are we not applying any technology solutions to the problem of gender and inclusion?”

Sukhinder Singh Cassidy · 43:59
#women in tech#bias#inclusion#entrepreneurship

Explainer· 2

Explainer22:04

The Two Design Choices That Made Early Google Maps Different

Cassidy explains that the initial Google local-and-maps effort began with one business lead, one product manager, ten engineers, and extensive licensing of roads and business data. Beyond entering a large local-advertising market, Google differentiated the product through cleaner road labeling and the acquisition of Keyhole's satellite imagery.

  • The early team consisted of roughly twelve people.
  • Road and business data had to be licensed for the service.
  • Placing road names inside roads improved visual clarity.
  • Google acquired Keyhole to overlay satellite imagery.
  • The satellite feature was pursued for usefulness and differentiation before its commercial value was clear.

“I was the business person, meaning I had to go license to data for like roads and businesses to put underneath inside of that service.”

Sukhinder Singh Cassidy · 24:06

“They didn't really care about how it would make money. It was just a very cool and differentiated in you know, it turns out very…”

Sukhinder Singh Cassidy · 25:34
#google maps#product design#satellite imagery#local search
Explainer1:17:43

The Two Forces That Can Change Venture Capital's Funding Patterns

Cassidy argues that venture capital will diversify through pressure from both limited partners and market performance. LPs can demand transparency about who receives capital and who becomes a partner, while successful companies outside traditional founder and geographic patterns create fear of missing valuable investments.

  • LPs can demand data on funding by gender and race.
  • Investors should examine both pipeline composition and completed deals.
  • Venture firms' own partnership ranks must become more diverse.
  • More diverse investment teams tend to fund more diverse founders.
  • Outlier companies create financial pressure when conventional firms miss them.
  • Performance pressure complements accountability pressure.

“when you're diverse, you fund more diversely as well”

Sukhinder Singh Cassidy · 1:18:15

“I think both kinds of pressure need to happen, performance pressure as well as LP pressure.”

Sukhinder Singh Cassidy · 1:19:19
#venture capital#diversity#limited partners#funding

Story· 4

Story03:14

How a Polite Merrill Lynch Rejection Became a Three-Hour Interview

After more than a year of unsuccessful applications, Cassidy received what appeared to be a polite offer for a fifteen-minute informational interview. Her father encouraged her to travel to New York anyway; the meeting expanded to three hours, accelerated her into the final process, and resulted in a job.

  • Cassidy endured repeated bank rejections for more than a year.
  • Merrill Lynch did not recruit at her Canadian school.
  • Her father encouraged her to act on a weak-looking opening.
  • A fifteen-minute meeting became a three-hour interview.
  • She competed in the final process and secured the role.

“I took that train ride in fifteen minutes turned into a three hour interview, and then they accelerated me to the final process.”

Sukhinder Singh Cassidy · 04:02
#persistence#wall street#career origin
Story12:15

When Every Amazon Executive Worked Overnight Warehouse Shifts

Cassidy recalls Amazon when roughly 1,200 employees could occupy one or two buildings and everyone, including senior executives, worked warehouse shifts during Christmas. She also describes Bezos's early ambition to display products Amazon did not stock, which drove an initial marketplace attempt years before the successful version.

  • Amazon required employees across ranks to work warehouse shifts.
  • Christmas assignments included overnight picking and packing.
  • Bezos envisioned showing every product on the internet.
  • Amazon's first marketplace implementation was later shut down.
  • Repeated attempts preceded the marketplace that ultimately worked.

“We all had to work in the warehouse, including you know, like the very top executives at Amazon”

Sukhinder Singh Cassidy · 12:35

“So he had made many attempts at marketplace before he got the one that worked, and by the way, before the world was ready for…”

Sukhinder Singh Cassidy · 13:29
#amazon#culture#marketplaces#jeff bezos
Story35:11

Why Shoppable Video Failed Before Instagram and TikTok Normalized It

Joyous built studios, branded programming, and a patented video player with an embedded shopping cart, but the surrounding consumer and platform behavior was not ready. Without major distribution partners or established habits around shopping through short-form video, customer acquisition remained expensive and the company could not reach profitability.

  • Joyous combined video content with an embedded shopping cart.
  • Major platforms were focused on advertising-supported content.
  • Consumers were not accustomed to shopping through social video.
  • Large platforms often believed they could build the technology themselves.
  • The company grew but remained dependent on venture funding.
  • Its technology and platform were eventually sold for a modest sum.

“We kept growing, we kept doubling every year, but we really needed venture capital money um to keep you know, to keep growing the size…”

Sukhinder Singh Cassidy · 38:10

“Maybe if I had started Joys five years later, it would have been an entirely different outcome.”

Sukhinder Singh Cassidy · 41:09
#video commerce#product timing#joyous#startups
Story1:05:29

StubHub Went From a $4 Billion Sale to an Existential Crisis

Cassidy led StubHub through a roughly $4 billion sale that closed shortly before COVID-19 shut down live events. Within weeks, event cancellations eliminated revenue, created a severe cash crunch, and forced controversial refund-policy changes and a rapid restructuring without eBay's balance sheet behind the company.

  • The transaction closed in February shortly before pandemic shutdowns.
  • Approximately 20,000 events were canceled within a week.
  • StubHub lost the protection of eBay's balance sheet after the sale.
  • The company could not immediately refund every customer in cash.
  • Cassidy's team restructured the business over roughly 60 days.
  • She departed only after the company could survive an indefinite shutdown.

“you go from sort of you know, having a record sale to like an existential crisis that was us”

Sukhinder Singh Cassidy · 1:07:46

“We we structured in a sixty day span and only once we finished the restructuring that I depart”

Sukhinder Singh Cassidy · 1:09:08
#stubhub#covid-19#crisis leadership#live events

Tool· 1

Tool1:11:09

The Boardlist Turned Diverse Board Candidates Into a Searchable Market

After publishing her open letter, Cassidy created the Boardlist to counter claims that companies could not find qualified women for board roles. It began with crowdsourced recommendations and developed into a marketplace containing thousands of women and other diverse leaders available to companies seeking directors.

  • Cassidy initially crowdsourced names from technology executives and entrepreneurs.
  • The service made qualified board candidates discoverable online.
  • It expanded beyond women to include people of color.
  • Cassidy bootstrapped the platform for four years.
  • Companies from Series A startups to global public businesses have used it.
  • The platform measures participation in the search journey rather than acting solely as a search firm.

“they can no longer say where are all the great women? We can't find any”

Sukhinder Singh Cassidy · 1:12:17

“it's a marketplace for talent, um for diverse talent”

Sukhinder Singh Cassidy · 1:12:47
#board diversity#talent marketplace#governance#boardlist