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Peter Thompson

03/28/25

@ EO

When the COVID-19 pandemic hit, we had to pivot quickly. Instead of laying off our team as advised, we chose to be transparent and asked everyone to take pay cuts to weather the storm together, which ultimately helped us find our product-market fit.

Video

Advice from a Founder Who Built a $390M Company at 57 | LucidLink, Peter Thompson

@ EO

Advice from a Founder Who Built a $390M Company at 57 | LucidLink, Peter Thompson

03/28/25

Related Takeaways

Peter Thompson

03/28/25

@ EO

When faced with the decision to lay off employees, my co-founder George and I chose to uphold our core values instead and kept the entire team together, asking everyone to take deep cuts to weather the storm.

Brian Chesky

06/02/24

@ The Social Radars Podcast

We had to make tough decisions during the pandemic, including layoffs, but I aimed to do it with compassion and transparency.

Brian Chesky

06/02/24

@ The Social Radars Podcast

During the pandemic, we faced significant challenges, but we emerged stronger. We learned to focus on efficiency and maintain a startup mentality, which helped us navigate the crisis successfully.

Anatoly Yakovenko

06/13/25

@ a16z crypto

I had to make tough decisions during a crisis, including shrinking the team and raising funds, which ultimately extended our runway and allowed us to launch successfully despite market challenges.

Doug McMillon

04/24/25

@ Stanford Graduate School of Business

During the pandemic, we learned the importance of speed in decision-making, which allowed us to adapt quickly and effectively to challenges.

Danielle Morrill

02/24/15

@ Y Combinator

We decided to stop working on our initial business model and pivot to something else, which involved a lot of difficult decisions, including letting go of our team.

Y Combinator Cast

01/16/25

@ Y Combinator

A startup that pivoted from building a financial investment platform to creating a productivity tool for Zoom calls during the COVID-19 pandemic illustrates the importance of adapting to market needs and leveraging technology effectively.

Jay Rosenkrantz

12/07/20

@ Y Combinator

When COVID-19 hit, we adapted by transitioning to remote work, which unexpectedly allowed us to collaborate with talent from around the world, not just those in the Los Angeles area.

Tony Xu

03/26/25

@ Y Combinator

During the COVID-19 pandemic, we cut our commissions in half and ran a national TV campaign to support the entire industry, emphasizing that kitchens were open even if dining rooms were closed.