Shopify, Twilio, & Pinterest CEOs on building a startup during a downturn

Join Byron Deeter and Jeremy Levine from Bessemer Venture
Partners as they bring together three resilient founders who
built their startups during the immediate aftermath of the 2008
Recession.  In this conversation, we talk to Jeff Lawson,
CEO and co-founder of Twilio, Tobi Lütke, CEO and founder of
Shopify, and Ben Silbermann, CEO and co-founder of Pinterest.
Key insights include:


What inspired Twilio to keep pushing even after they
didn’t get any funding in the summer of 2008: “Our
customers were telling us we’re on the right track,” remembered
Jeff. “We should be listening to customers. And if we’re right
about that, then obviously the investor thing will work itself
out. No matter where you’re at as a company, focusing on your
customers is the right path. Of course, it’s not everything,”
said Jeff. “In 2008, there was a lot of luck involved, but we
continue to follow that early lesson today.”


Why everything Shopify built was tightly connected to
the fundamentals of their business and mission: “None
of our customers were going out of business because they had
Shopify. It was a well designed, affordable online store. In
fact, a lot of people actually ended up selling online to get a
second income stream,” Tobi said. “A major disruption, [like
the ‘08 Recession or a global pandemic] is sort of like shaking
a tree and seeing what fruit fall off.”


Founder advice on self care from Pinterest’s
CEO: “If you’re a founder, your ability to build a
successful company turns on your ability to take care of
yourself and the people that are very important around you,”
Ben said. “We’re experiencing a global health crisis. So taking
care of yourself could mean delaying your startup and staying
at your job and supporting your family in a way they need it,
or doing it at night, etc. People shouldn’t be ashamed of
that.”