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How to build a cult-like brand | Laura Modi (Bobbie)

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Apr 13, 2023

Guest

Laura Modi

Laura Modi, CEO and co-founder of Bobbie, shares her unique journey as a leader in the infant formula industry. She reveals pivotal lessons from her time at Airbnb, emphasizing the importance of culture and personal connections. Modi discusses prioritizing existing customers during the formula shortage and the balance between rapid growth and sustainable practices. She highlights the creativity that comes from naivete, innovative hiring strategies, and the vital role of branding in building a successful direct-to-consumer business.

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Episode notes

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ANECDOTE

Risk-Taking

Leaving Airbnb to start Bobby was a significant risk for Laura Modi.
Similar to joining Airbnb after Google, this risk was driven by strong conviction in the company's potential.

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ADVICE

Calculated Risks

Before taking big risks, thoroughly research the market and understand the business landscape.
Assess your risk tolerance and plan for the potential financial implications.

question_answer

ANECDOTE

Formula Shortage Response

During the 2022 infant formula shortage, Bobbie prioritized existing customers over growth by shutting down new subscriptions for six months.
This decision, though difficult, reinforced their customer-centric brand and built trust.

Get the Snipd Podcast app to discover more snips from this episode

Reflecting on Transformative Experiences at Airbnb

04:08 • 2min

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Empowering Hosts and Building Culture

06:21 • 24min

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The Art of Branding Internal Processes

30:04 • 3min

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Navigating Growth and Compliance

32:43 • 7min

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Innovative Hiring and D2C Insights

39:58 • 16min

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Exploring Interview Techniques and Baby Product Insights

55:54 • 2min

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Embracing Asynchronous Work and Quality Time

57:34 • 3min

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In 'Metabolical', Dr. Robert Lustig explains the eight pathologies that underlie all chronic diseases and documents how processed food has negatively impacted health, economy, and the environment over the past 50 years. He challenges the current healthcare paradigm influenced by Big Food, Big Pharma, and Big Government. Lustig argues that food is the key to biochemical change and health improvement, emphasizing the importance of protecting the liver and feeding the gut. He also highlights the global environmental impact of processed food and offers practical solutions for healthier dietary choices and policy changes to promote sustainability and health.

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In 'Purple Cow,' Seth Godin argues that traditional marketing strategies no longer work in today's saturated market. He advocates for the creation of 'Purple Cows' – products or services that are so remarkable they naturally generate buzz and attract attention. Godin uses the metaphor of a purple cow to illustrate how being ordinary is no longer sufficient; businesses must be bold, innovative, and willing to take risks to stand out. The book is filled with examples from successful companies like Apple, Starbucks, and JetBlue, and it challenges readers to rethink their marketing strategies to focus on creating truly remarkable offerings.

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In *Expecting Better*, Emily Oster, an award-winning economist, evaluates the data behind conventional pregnancy rules and discovers that many are misguided or flat-out wrong. The book explains everything from the real effects of caffeine and alcohol to the surprising dangers of gardening, aiming to empower pregnant women to make their own informed decisions and enjoy a healthy and relaxed pregnancy. It is organized into sections covering conception, each trimester, and labor and delivery, making it accessible and practical for pregnant women.

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Uncertainty, Chaos, and Luck--Why Some Thrive Despite Them All

Morten Hansen

Jim Collins

This book explores why some companies succeed in highly uncertain and chaotic environments while others do not. Collins and Hansen conducted extensive research, studying companies that beat their industry indexes by at least ten times over fifteen years in turbulent conditions. They debunk several myths about successful leadership in turbulent times, highlighting key principles such as fanatic discipline, empirical creativity, and productive paranoia. The authors also examine the role of luck and how successful companies leverage it to their advantage. The book provides practical insights and strategies for building a great enterprise in unpredictable environments.

Brought to you by Vanta—Automate compliance. Simplify security | LMNT—Zero-sugar hydration | AssemblyAI—Production-ready AI models to transcribe and understand speech

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Laura Modi is the CEO and co-founder of Bobbie, the first woman-owned, organic infant formula in the U.S. Previously, Laura spent over five years at Airbnb, where she served as Director of Hospitality. Before that, she spent over four years at Google in finance and operations. In today’s podcast, we discuss:

• Biggest lessons from five years at Airbnb

• Lessons about building great culture

• The power of naivete

• From growth to “slowth”: Why Bobbie prioritized existing customers over growth during the height of the formula shortage

• The importance of momentum above all else

• Finding work-life balance with the right infrastructure, support, and frameworks

• The importance of brand, and how to build a brand

• What it takes to win in DTC

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Find the full transcript at: https://www.lennysnewsletter.com/p/from-growth-to-slowth-the-making

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Where to find Laura Modi:

• LinkedIn: https://www.linkedin.com/in/laurahughes6/

• Email: Laura@hibobbie.com

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Where to find Lenny:

• Newsletter: https://www.lennysnewsletter.com

• Twitter: https://twitter.com/lennysan

• LinkedIn: https://www.linkedin.com/in/lennyrachitsky/

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Note: Lenny is a small angel investor in Bobbie.

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In this episode, we cover:

(00:00) Laura’s background

(04:20) What Laura worked on at Airbnb

(06:22) The director of hospitality role

(07:08) How supporting hosts led to growth at Airbnb

(08:28) Lessons from Airbnb around culture and storytelling that impact how Laura runs Bobbie

(09:44) How Laura builds a strong culture at Bobbie

(11:45) The risk she took in starting her own company

(13:41) Advice on taking risks

(15:10) What is Bobbie

(17:15) The scale of Bobbie

(17:55) The infant formula shortage crisis

(19:49) How the growth team pivoted to being the “slowth” team

(23:23) Lessons from the crisis

(25:16) Building a brand

(31:12) Branding internally

(33:58) The time the FDA shut Bobbie down over labeling

(36:45) How Laura balances her busy mom life with being a founder

(40:17) The power of naivete

(44:03) Why Laura hires optimistic doers

(45:56) Growing a DTC company

(47:14) How Bobbie leverages content, community, and commerce

(49:42) Bobbie’s pie chart of growth

(50:43) Emily Oster’s influence

(52:40) The importance of momentum and how to create it

(54:15) Lightning round

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Referenced:

• Bobbie: https://www.hibobbie.com/

• Davos: https://www.weforum.org/events/world-economic-forum-annual-meeting-2023

• MrBeast’s YouTube channel: https://www.youtube.com/channel/UCX6OQ3DkcsbYNE6H8uQQuVA

• Josh Miller on Lenny’s Podcast: https://www.lennyspodcast.com/competing-with-giants-an-inside-look-at-how-the-browser-company-builds-product-josh-miller-ceo/

• Milk Drunk podcast: https://milk-drunk.com/

• Emily Oster on Twitter: https://twitter.com/ProfEmilyOster

• Cribsheet: https://www.amazon.com/Cribsheet/dp/1788164490

• Great by Choice: https://www.amazon.com/Great-Choice-Uncertainty-Thrive-Despite/dp/1847940889

• Metabolical: The Lure and the Lies of Processed Food, Nutrition, and Modern Medicine: https://www.amazon.com/Metabolical-Processed-Nutrition-Modern-Medicine/dp/0063027712/

• Purple Cow: Transform Your Business by Being Remarkable: https://www.amazon.com/Purple-Cow-Transform-Business-Remarkable/dp/014101640X

• Expecting Better: https://www.amazon.com/Expecting-Better-Conventional-Pregnancy-Wrong/dp/0143125702

• Outlive: The Science and Art of Longevity: https://www.amazon.com/Outlive-Longevity-Peter-Attia-MD/dp/0593236599

• Bad Sisters on AppleTV+: https://tv.apple.com/us/show/bad-sisters

• NoseFrida the Snotsucker: https://frida.com/products/nosefrida

• Careers at Bobbie: https://www.hibobbie.com/pages/careers

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Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email podcast@lennyrachitsky.com.

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