First Round Capital’s Post

Transcript

Oftentimes when you're looking for a new leader, you're looking for a skill set that doesn't exist in the organization. And the question you think you should always ask yourself, like what are the skills you wanna build versus the skills you wanna buy? If you're hiring internally, you're like, you're buying, you're getting for free. Like someone who has the domain knowledge, someone who understands the culture, like you're not taking any risks on, you know, whether or not they are a good fit for your company from a values perspective. But you're probably going to have to build a lot of the like knowledge of the like whatever function you want them to take over and this or. That kind of experience, whereas if you're hiring someone externally, you're like, you're buying their external experience and they're probably like gonna be bringing in a lot of things that no one at your company knows about yet, but you're gonna have to teach them. Probably taking a little bit of a risk on like, are they good fit for your company from a sort of culture perspective? But I do think generally it's really, really good for a company culture to promote internally.