YC
Reshma Shetty, Founder of Ginkgo Bioworks at the Female Founders Conference
@ Y Combinator
07/11/18
Takeaways
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Reshma Shetty
07/11/18
@ Y Combinator
I started Ginkgo Bioworks to harness the power of biology for great things, as biology can self-replicate, self-repair, and self-assemble with precision that engineering disciplines can only dream of.
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Reshma Shetty
07/11/18
@ Y Combinator
Biology is fundamentally digital; every organism is made up of sequences of DNA, and understanding how to program that DNA allows us to design biology to perform specific tasks.
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Reshma Shetty
07/11/18
@ Y Combinator
At Ginkgo, we focus on improving the process of designing biology to make it smarter and more efficient.
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Reshma Shetty
07/11/18
@ Y Combinator
Two years ago, I was challenged to see a female-founded unicorn emerge, and I'm excited to share that Ginkgo became a unicorn in December.
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Reshma Shetty
07/11/18
@ Y Combinator
As a CEO, I constantly think about how to effectively grow and scale the company, and I want to share some advice on raising money for startups.
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Reshma Shetty
07/11/18
@ Y Combinator
There's a misconception that startups should avoid raising too much money; instead, I believe founders should raise as much as they can but be smart about spending it.
RS
Reshma Shetty
07/11/18
@ Y Combinator
Raising more money can be beneficial for a founder's mission, as it can mean the difference between success and failure, even if it leads to some dilution.
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Reshma Shetty
07/11/18
@ Y Combinator
After raising a significant amount of money, it's common to feel overwhelmed and pressured to spend it, which can lead to unnecessary bloat in the company.
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Reshma Shetty
07/11/18
@ Y Combinator
It's important to maintain frugality and avoid the unconscious pressure to overspend after raising funds, as this can lead to a bloated company structure and increased financial demands. To successfully scale a startup, you need to raise money while maintaining discipline, scrappiness, and frugality.
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Reshma Shetty
07/11/18
@ Y Combinator
Having a 'Scrooge McDuck' in your organization is essential; this person keeps the team focused on key metrics and efficient operations.
RS
Reshma Shetty
07/11/18
@ Y Combinator
Female founders face additional challenges due to stereotypes, especially when taking on roles that require strict financial discipline.
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Reshma Shetty
07/11/18
@ Y Combinator
It's crucial to balance personal reputation risks with the need for organizational efficiency and scrappiness.
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Reshma Shetty
07/11/18
@ Y Combinator
Your startup's success hinges on applying pressure for efficiency, which extends your runway and increases your options as you grow.
RS
Reshma Shetty
07/11/18
@ Y Combinator
The goal is to scale your startup's revenues and customer base without proportionally increasing headcount and spending.
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Reshma Shetty
07/11/18
@ Y Combinator
Decoupling growth in commercial success from growth in spending and headcount provides a significant competitive advantage.
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Reshma Shetty
07/11/18
@ Y Combinator
As your organization grows, recruiting top talent and managing interpersonal conflicts become increasingly challenging.
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Reshma Shetty
07/11/18
@ Y Combinator
Defining your mission, strategy, and metrics is vital for aligning your team and ensuring everyone understands their role in achieving the organization's goals.
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Reshma Shetty
07/11/18
@ Y Combinator
Including efficiency metrics in your overall strategy encourages your team to consider resource allocation and optimize performance.
RS
Reshma Shetty
07/11/18
@ Y Combinator
It's important to have someone in your organization who consistently advocates for efficiency and communicates its importance to the team.
RS
Reshma Shetty
07/11/18
@ Y Combinator
At Ginkgo Bioworks, our mission is to make biology easier to engineer, and we measure our success by the amount of genetic engineering we can achieve per person.