Founders' Spotlight: What It's Really Like to Start and Scale a Business

Goldman Sachs Exchanges

Goldman Sachs

Business

4.4 • 1K Ratings

🗓️ 20 December 2018

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

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Summary

"[As a founder] there is no stopping. The commitment is bottomless in a way that I've never had before...and so it requires a level of emotional resilience and balance that is not the easiest thing to do," says Josh Hoffman, co-founder and CEO of biotech startup Zymergen in the latest episode of the firm's podcast, Exchanges at Goldman Sachs. Hoffman joined Jen Rubio, co-founder and chief brand officer of luggage startup Away, and Dan Dees, co-head of Goldman Sachs' Investment Banking Division to discuss what it's really like to start and scale a company. This podcast was recorded on October 18, 2018. The information contained in this recording was obtained from publicly available sources and has not been independently verified by Goldman Sachs. Neither Goldman Sachs nor any of its affiliates makes any representation or warranty, as to the accuracy or completeness of the information contained in this recording and any liability as a result of this recording is expressly disclaimed. The recording should not be relied upon to evaluate any potential transaction. Goldman Sachs is not giving investment advice by means of this recording, and this recording does not establish a client relationship with Goldman Sachs. Copyright 2018 Goldman Sachs & Co. LLC. All rights reserved.

Transcript

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0:00.0	This is Exchanges at Goldman Sachs, where we discuss developments currently shaping markets, industries
0:13.6	in the global economy.
0:15.0	I'm Jake Stewart, Global Head of Corporate Communications here at the firm.
0:18.3	Today we're coming to you from California where we're hosting the 2018 Builders and Innovators Summit.
0:23.4	This is an event where Goldman brings together
0:25.3	100 or so are the most intriguing entrepreneurs we know.
0:28.1	So it's fitting that for today's episode,
0:29.8	we're talking about startup life
0:31.4	with two co-founders of two very different companies.
0:33.8	Jen Rubio is the co-founder and chief brand officer of Away, which is trying and
0:39.2	succeeding at disrupting the luggage industry. And we also have Josh Hoffman, co-founder and CEO of ZI Mergin,
0:46.0	a biotech startup. We're also happy to be joined by Dan Deese,
0:49.3	who is co-head of Goldman's Investment Banking Division,
0:52.4	and he has extensive experience dealing
0:54.1	with startups as a banker. Dan Jen Josh, welcome to the program. Thank you.
0:59.3	Thanks for having us. Great. So Dan let's talk a little bit about the
1:02.3	innovation economy. We hear a lot about that buzzword. What does that mean to you and how do you think about it in the context of the summit that we're hosting today?
1:10.0	To me, the innovation economy is the concept that innovation and advances in technology are driving economic growth and progress and that the alternative of
1:21.4	incrementalism of just doing the same thing you've done in the past and doing it slightly better over time is increasingly being pressured by innovation and by the forces of disruption.
1:30.5	It's nothing new, it's been this way for probably decades beyond my
1:34.3	experience, but what has changed recently and what I think is really interesting
1:37.8	is it feels like it is accelerating. This innovative pressure is
	...

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