Chapter
Cronk's Rules
32:35 - 44:33 (11:58)
Shopify CEO Tobias Lütke discusses his "Cronk's Rules" which emphasizes the importance of receiving raw feedback without unnecessary niceties and taking full responsibility for one's own mental state, as well as how he translated these rules to the work environment in order to foster a high-performing team.
Clips
The decisions we make in our lives can be irrational and surprising, however, transitioning out of a CEO position can be common and necessary for a business to succeed in the long run.
32:35 - 35:41 (03:05)
Summary
The decisions we make in our lives can be irrational and surprising, however, transitioning out of a CEO position can be common and necessary for a business to succeed in the long run.
ChapterCronk's Rules
Episode#359: Tobi Lütke — From Snowboard Shop to Billion-Dollar Company
PodcastThe Tim Ferriss Show
The speaker shares their experience of learning from failure and embracing challenges in the business world.
35:41 - 37:07 (01:26)
Summary
The speaker shares their experience of learning from failure and embracing challenges in the business world. They recount their travels to Silicon Valley and the insights gained from talking with venture capitalists and attending conferences.
ChapterCronk's Rules
Episode#359: Tobi Lütke — From Snowboard Shop to Billion-Dollar Company
PodcastThe Tim Ferriss Show
Shopify's CEO believes in building a company that is unafraid of experimentation and failure, eliminating the term "failure" and referring to it as the "successful discovery of something that did not work".
37:07 - 40:05 (02:57)
Summary
Shopify's CEO believes in building a company that is unafraid of experimentation and failure, eliminating the term "failure" and referring to it as the "successful discovery of something that did not work". However, challenges and bad decisions are also necessary parts of success and growth as a company.
ChapterCronk's Rules
Episode#359: Tobi Lütke — From Snowboard Shop to Billion-Dollar Company
PodcastThe Tim Ferriss Show
Shopify's vice president of revenue, Toby Shannon, advocates for direct and unfiltered feedback without the need for politeness or apology as outlined in Cronk's Rules.
40:05 - 42:52 (02:47)
Summary
Shopify's vice president of revenue, Toby Shannon, advocates for direct and unfiltered feedback without the need for politeness or apology as outlined in Cronk's Rules. He believes that being able to receive criticism without being crushed is a vital quality for executives to have.
ChapterCronk's Rules
Episode#359: Tobi Lütke — From Snowboard Shop to Billion-Dollar Company
PodcastThe Tim Ferriss Show
Shopify COO, Harley Finkelstein, highlights the importance of progression, self-awareness and impact to build a high performing team.
42:52 - 44:33 (01:41)
Summary
Shopify COO, Harley Finkelstein, highlights the importance of progression, self-awareness and impact to build a high performing team. He mentions that Shopify provides training and cultural rules to facilitate this, and hires talented individuals to achieve their goals.