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Dharmesh Shah is the co-founder and CTO of HubSpot (currently valued at $30 billion) and one of the most fascinating founders I’ve ever met. Dharmesh is the keeper of HubSpot’s Culture Code, built ChatSpot (an AI chatbot built on top of HubSpot CRM) and a game called WordPlay (which grew to 16 million users), and also founded and writes for OnStartups, a top-ranking startup blog and community with more than 1M members. He’s also invested in 100+ startups including OpenAI, AngelList, Coinbase, and Dropbox. In our conversation, we discuss:
• The biggest lessons he has learned from building HubSpot
• The importance of leaning into your strengths
• Dharmesh’s data-oriented approach to public speaking
• How he developed HubSpot’s culture code
• The decision-making process at HubSpot
• His contrarian approach to building products
• Why founders and product teams are all fighting the second law of thermodynamics
• How “flash tags” can save your teams time
• How to decide what ideas are worth investing in
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Find the full transcript at: https://www.lennysnewsletter.com/p/lessons-from-30-years-of-building
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Where to find Dharmesh Shah:
• X: https://twitter.com/dharmesh
• LinkedIn: https://www.linkedin.com/in/dharmesh/
• Website: https://dharmesh.com/
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Where to find Lenny:
• Newsletter: https://www.lennysnewsletter.com
• X: https://twitter.com/lennysan
• LinkedIn: https://www.linkedin.com/in/lennyrachitsky/
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In this episode, we cover:
(00:00) Dharmesh’s background
(04:20) Fun facts about Dharmesh
(06:31) His data-oriented approach to public speaking
(11:45) Advice for adding humor to your presentations
(15:28) Why he has no direct reports
(18:46) You can shape the universe to your liking
(20:02) Lessons from building HubSpot
(23:43) Contrarian ways of running a company
(37:26) Fighting the second law of thermodynamics
(40:29) The importance of simplicity in running a business
(45:22) Succeeding in the SMB market
(50:29) Zigging when others are zagging
(54:17) When it makes sense to go “wide and deep”
(57:33) Using flashtags to communicate opinions
(01:02:44) HubSpot’s decision-making process
(01:09:41) Deciding what ideas to invest in
(01:15:26) Defining and maintaining company culture
(01:30:46) The potential of AI
(01:37:03) Practical advice for learning AI
(01:40:07) Where to find Dharmesh
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Referenced:
• WordPlay: https://wordplay.com/article/unlimited
• ChatSpot: https://chatspot.ai/
• Indian-origin entrepreneur buys ‘chat.com’ for over $10 million, then sells, donates $250,000 to Khan Academy: https://www.businesstoday.in/technology/news/story/indian-origin-entrepreneur-buys-chatcom-for-over-10-million-then-sells-donates-250000-to-khan-academy-382907-2023-05-26
• Kipp Bodnar on LinkedIn: https://www.linkedin.com/in/kippbodnar/
• The surprising metric presenters should analyze: https://lars-sudmann.com/the-surprising-metric-presenters-should-analyze/
• SoloWare: https://www.linkedin.com/posts/dharmesh_for-3-decades-now-in-addition-to-my-day-activity-7166500611247583232-kZgb/
• Brian Halligan on LinkedIn: https://www.linkedin.com/in/brianhalligan/
• First Principles: Elon Musk on the Power of Thinking for Yourself: https://jamesclear.com/first-principles
• Peter Thiel on LinkedIn: https://www.linkedin.com/in/peterthiel/
• The second law of thermodynamics: https://en.wikipedia.org/wiki/Second_law_of_thermodynamics
• What is an SMB?: https://www.techtarget.com/whatis/definition/SMB-small-and-medium-sized-business-or-small-and-midsized-business
• Shopify: https://www.shopify.com/
• Relentless curiosity, radical accountability, and HubSpot’s winning growth formula | Christopher Miller (VP of Product, Growth and AI): https://www.lennyspodcast.com/relentless-curiosity-radical-accountability-and-hubspots-winning-growth-formula-christopher-mil/
• FlashTags: A Simple Hack for Conveying Context Without Confusion: https://www.onstartups.com/flashtags-a-simple-hack-for-conveying-context-without-confusion
• What it means to “disagree and commit”: https://news.ycombinator.com/item?id=16949021
• A Simple Decision Framework: Debate, Decide and Unite: https://connectingdots.com/p/debate-decide-unite
• Dharmesh Shah’s Frameworks for Creating a $1 Billion Net Worth: https://hakune.co/dharmesh-shah-networth/
• Zip: https://ziphq.com/
• The HubSpot Culture Code: Creating a Company We Love: https://blog.hubspot.com/blog/tabid/6307/bid/34234/the-hubspot-culture-code-creating-a-company-we-love.aspx
• How defining values and culture helped Airbnb achieve worldwide success: https://lattice.com/library/how-defining-values-and-culture-helped-airbnb-achie
• What is SQL?: https://aws.amazon.com/what-is/sql/
• GrowthBot: https://community.hubspot.com/t5/Releases-and-Updates/Meet-GrowthBot-from-HubSpot-Labs/ba-p/417985
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Production and marketing by https://penname.co/. For inquiries about sponsoring the podcast, email [email protected].
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Lenny may be an investor in the companies discussed.
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In this episode of PodSpot, Jon Pittham, director and founder of HubSpot consultancy agency, Karman Digital, speaks with industry expert and consultant, Nick Goring about the evolutionary journey of both Karman Digital and HubSpot over the past five years.
They discuss the shift from HubSpot being perceived primarily as a marketing tool to becoming an all-encompassing business platform. Nick highlights the importance of understanding HubSpot's true capabilities and the need for business leaders to grasp the potential of integrating HubSpot with other platforms.
The conversation also explores the future of AI in enhancing customer relationships and how both Karman Digital and HubSpot are poised to adapt to these technological advancements. The episode underscores the importance of trust, client engagement and continuous questioning in leveraging HubSpot's full suite of services.
Key Discussion Points:
01:37 - The Evolution of HubSpot09:00 - Karman Digital's Transformation13:51 - The Role of Technology in Business24:34 - AI and the Future of Business30:50 - HubSpot's Brand and Trust36:06 - Insights and Future PerspectivesWant to learn more about HubSpot? Visit our website: https://www.karman.digital/
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Steve Walters, Senior Vice President and General Manager, Public Sector, ServiceNowChris Bedi, Chief Digital Information Officer, ServiceNowVenice Goodwine, Chief Information Officer, Department of the Air ForceClick here to view the on-demand recording
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Join Sankhadeep Dhar and Andy Jordan as they recap our last podcast, and then dive into how ServiceNow is helping organizations execute their AI strategy.
Analysts have stated that 2023 was the year of Gen AI experimentation. Now, 2024 is when companies are putting AI to production and everyone is looking beyond the hype. Clearly, technology and business leaders have a critical role to play here, so how can you become a first mover and ensure that you can execute your strategy and bring it to life?
Join us now to find out how ServiceNow can help you execute for success.
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ServiceNow Chairman and CEO Bill McDermott talks about what it takes to lead a successful technology company, the future of AI and his entrepreneurial teenage years. He speaks on "The David Rubenstein Show: Peer-to-Peer Conversations." This interview was recorded August 7 in New York.
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