Eric Siu argues that founders can't just hire a CEO and disappear. He critiques the idea that you can step away from your company, pointing to Uber and Expedia as rare exceptions where it worked, and warns that entrepreneurship through acquisitions fails when founders immediately disconnect.
This concept called the working businessman is so broken. I think it's misinformation where people are teaching people, hey, you can just hire a CEO and get out of their way and let them do their thing. I think that's a pipe dream. That's not a pipe dream. You have to be involved. Look how involved you are right now. No, there's real cases of people who are hired guns who run a company. My point is, I believe you have to be involved in some way. So whether you're a chairman or even if you're even disconnected from it, you have to be involved. Uber. The Expedia CEO has taken it on. He's a good CEO and he's done really well. He is a good CEO. And the founders, Travis is not involved. I think these people are exceptions to the rules. And I think teaching it broadly for the majority of people, especially the ones that they call the ETA, entrepreneurship through acquisitions, I think starting out like that is a big mistake.
