David Friedberg on How To Build a Billion Dollar Startup | E31

Operator vs. Investor

David Friedberg discusses the contrasting experiences of being a business operator versus an investor. He finds fulfillment in the direct impact and creativity of running a business, which he missed during his time as a board member. Friedberg explains, "Being able to step in as CEO of this business...is very rewarding for me" 1. While he values his role on various boards, he acknowledges that the level of influence differs significantly from that of a CEO.

   

Learning from Failure

Friedberg reflects on the lessons learned from failures in both venture capital and operational roles. He admits to initially resisting the idea of letting companies fail, a mindset he carried over from his entrepreneurial days. "I am so convinced that I cannot let things fail because that's how I operated as an entrepreneur," he shares 2. However, he learned the importance of focusing on successful ventures rather than trying to save failing ones, a lesson reinforced by observing the strategies of major Silicon Valley firms.