The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch 20VC: Wolt CEO, Miki Kuusi on Leadership Lessons Scaling to a Reported $8.1BN Exit to Doordash, Building Teams not Families, The Difference Between Trust and Safety Within Companies, How To Use Compensation to Create Culture & Why You Should Not Be Lookin
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Nov 28, 2022 Miki Kuusi, CEO of Wolt and now Head of DoorDash International, shares insights from his journey of scaling Wolt to an $8.1 billion exit. He discusses the importance of building a strong team culture that prioritizes trust over safety and emphasizes the value of transparency in compensation. Miki reflects on the challenges of leadership, the delicate balance of focus in decision-making, and the need to adapt hiring strategies as the company grows. His personal anecdotes reveal the sacrifices and insights that shaped his leadership style.
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Right-Sizing Engineering Teams
- Right-sizing is difficult for engineering roles because the value creation of each individual isn't immediately clear.
- Over-hiring is common during growth periods due to competition and fear of missing out.
Commitment in Hiring
- Avoid "hire fast, fire fast"; treat hiring as a serious commitment.
- Strive to create a culture of trust and mutual support.
Compensation and Culture
- Use compensation to shape culture by being generous and fair with equity.
- Ensure even part-time employees have a path to ownership.
