80/20 Innovation Balance

Marc Lore shares his perspective on core values, trust, and innovation in business leadership. He emphasizes the importance of optimism and trust as foundational elements for building successful companies and teams.

Key Points:

• Core Values in Business:

  • Trust is fundamental - start by trusting people before they prove themselves
  • Transparency with employees about company information (cap tables, financing, numbers)
  • Fairness in workplace practices and compensation

• Trust Philosophy:

  • Rejects "trust but verify" approach
  • Believes in trusting people until proven otherwise
  • Acknowledges it's risky but sees powerful motivational benefits
  • People are more committed when trusted without having to prove themselves first

• Creating an Inclusive Workplace:

  • Open compensation system where everyone knows what others make
  • Equal pay for equal work regardless of gender or minority status
  • Eliminates fairness concerns that could diminish trust and motivation

• Innovation Approach:

  • Applies technology mindset to traditional industries
  • Examples in sports:
    • Augmented reality for entertainment
    • Dynamic announcing systems
    • Real-time ticketing solutions
    • Technology-driven fan experience improvements

• Business Philosophy:

  • Focuses primarily on B2C businesses (80%)
  • Values understanding consumer needs
  • Looks for opportunities to innovate in established industries
  • Combines passion projects with sound business principles (like sports team ownership)