The close came weeks after Andreessen Horowitz closed its own $400 million seed fund. Hoffman’s broadened view of blitzscaling blends well with his firm’s recent announcement of a $500 million seed fund. Instead, Hoffman thinks the pandemic’s real impact on his definition is that “the benchmark for what you may need to do in order to outpace your competitors to scale in an ecosystem may have changed.” A lot of new money That doesn’t mean startups should avoid prioritizing breakneck speed, especially in industries like fintech and edtech, where the pandemic spotlighted a lot of potential. “Blitzscaling is being inefficient it’s spending capital inefficiently and hiring inefficiently it’s being uncertain about your business model and those are not good things.” Instead, he said, blitzscaling is a choice companies may have to make for a set period of time to outpace a competitor or react to a pandemic rather than a route to take from idea to IPO. “Blitzscaling itself isn’t the goal,” Hoffman said during TechCrunch Disrupt 2021. Years later, founders are navigating a pandemic, perhaps the most uncertain period of their lives, and Hoffman has a clarification to make. Airbnb CEO Brian Chesky said, “I can’t think of any other work that so perfectly captures the specific challenges – and opportunities – that a company faces at every stage of growth.” Adam Grant, the bestselling author of Originals and Give and Take, raves, “This is the best book I’ve ever read on how to grow a company rapidly - and when that’s even worth trying in the first place.When LinkedIn co-founder and Greylock partner Reid Hoffman first coined the term “blitzscaling,” he kept it simple: It’s a concept that encourages entrepreneurs to prioritize speed over efficiency during a period of uncertainty.
The authors provide a step-by-step approach to this new model, which requires abandoning traditional business strategies and rules in favor of innovative operational and management practices. Their promise: “Blitzscaling” – done right – can catapult your $10 million company to a $10 billion company. To join giants like Facebook or Apple, they write, you need to embrace risk.
The author’s professional accomplishments testify to their expertise: Reid Hoffman served as COO of PayPal, co-founded LinkedIn and is the host of the popular Masters of Scale podcast Chris Yeh, co-founder and general partner of Wasabi Ventures, has worked with more than 100 high-tech start-ups since 1995.
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