An absolute treat. Thanks @farnamstreet and @tobi 😄
I dare say this is on the same level as the one with @naval
Some highlights below:
I dare say this is on the same level as the one with @naval
Some highlights below:
1/ All founders probably know but few talk about systems thinking and why it's an extremely important mental model to have. Cause and effect are difficult to ascertain(sometimes absent)epiphenomena are everywhere. Thinking in systems gives everyone a common language to build on.
2/ Tobi talks about company culture and why it's okay for it to be different at each office. Culture is not something that comes top down and people shouldn't be sanitized versions of themselves.
3/ Your environment has a huge effect on your work. It should be a reflection of the things you believe in. Shopify offices have custom furniture/kitchens that reflect their attitude of a simplified, delightful experience. No need to have 3 buttons and spend 10 mins on making tea
4/ The avg millennial switches job every 2/3 yrs. This is not good for cos since they lose compounding that occurs over years. Shopify hires for future potential (10y) not current skills. @chamath has a similar philosophy(sufficient time and capital to solve the hardest problems)
5/ Not being in SF has advantages for shopify - lots of local talent (away from the talent wars in SF), halo effect around the perceived 'best' companies.
6/ @tobi says the most important skill to have is the ability to adapt. Being comfortable with change. It's super hard and Shopify has built that into its culture. The story of Shopify being homeless for 2mos exemplifies that.
7/ Decision making heuristic - irreversibility and payoff. Adjust speed accordingly. Quality of decision is making directly proportional to quality of information acquisition. Consider all data points you can find. Maintaining a decision journal helped Tobi learn from mistakes.
8/ Tobi on decisions that were wrong in hindsight - didn't get enough data points or forgot to ask for information that was readily available.
9/ Shopify spends a lot of time on process excellence on improving the internal processes. Every small thing that removes inconvenience from employees' life is time they can spend on the product. e.g Shopify switched from Coke to Pepsi.
10/ Tobi's morning routine - using a non safety razor blade to shave. Doing something that requires focus in the morning kickstarts your brain. Read more on that here: nevalalee.wordpress.com/2011/06/02/the…
11/ Underrated-studying history. Every time you come across a problem, look at history and find how it was solved. Tobi's best lesson from history - cause and effects don't dominate anymore. The world only has complex problems now where higher order effects are imp.
12/ How Shopify thinks of scaling - identify high potential individuals and make them reach their peaks 10/20 y earlier though mentoring, book clubs and internal podcasts. Switch everyone to growth mindset and give them enough context to feel comfortable with uncertainty.
For people interested in systems thinking, a thread on the book @tobi references during the podcast. A good intro:
Clarification on tweet 5 - Shopify isn't HQd in SF but has presence and is actively hiring. No misrepresentation intended, sorry guys.
