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Eric Schmidt, the former CEO of Google, believes one thing is crucial for startups to thrive: an intense work ethic. Reflecting on Google’s shift towards prioritizing work-life balance, Schmidt points out that it’s this relentless drive that makes startups successful. “The reason startups work is because people work like hell,” he states bluntly. In his view, it’s the grind and push that lead to breakthroughs.
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Founders: A Special Breed
Schmidt emphasizes the unique role founders play in driving a company to success. Founders, he says, are often hard to work with because they push people relentlessly. But that’s exactly what makes them effective. He uses Elon Musk as an example. While Musk’s personal behavior may be controversial, Schmidt admires Musk’s work ethic and demands from his team. Musk is known for his late-night meetings and nonstop schedule, ensuring he’s pushing boundaries at all hours. It’s this commitment to pushing people to their limits that Schmidt believes yields results.
Lessons from TSMC
Schmidt shares an anecdote from a visit to Taiwan’s TSMC, one of the world’s largest semiconductor manufacturers. TSMC expects their PhD engineers to start working on the factory floor in the basement—something Schmidt suggests would be almost unthinkable in the U.S.. This, he argues, is a reflection of a different work ethic, one that values immersion and hands-on experience from the ground up.
The Importance of Speed
Time is everything in the startup world. According to Schmidt, systems with network effects—where the more users a platform has, the more valuable it becomes—make speed incredibly important. The faster a company can grow, the more it can dominate its space. Schmidt suggests that prioritizing work-life balance over the relentless pursuit of growth can be a costly mistake.
Conclusion: Work Like Hell to Win
In Schmidt's view, companies that want to succeed at the highest level need to embrace a hard-charging work ethic. Whether it's a startup pushing for market dominance or a tech giant maintaining its lead, the equation remains the same: working harder and faster is the key to winning in highly competitive industries.
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