JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

Gaming prepares you for leadership because it simulates real-life challenges, requiring you to solve problems, learn from failures, and develop a growth mindset.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

In gaming, you learn to cooperate, divide tasks, and understand leadership dynamics, which are essential skills for running a company.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

Each level of company building presents new challenges, and as a CEO, you constantly figure out how to navigate these dynamics without prior experience.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

I often face situations where I've never encountered the challenge before, but I trust that my team and I can figure it out together.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

Having a financial cushion allows founders to turn down acquisition offers and focus on building a generational company.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

As a second-time founder, I found that previous experiences made certain aspects of building Discord easier, but finding product-market fit remained challenging.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

The initial thesis for Discord was that a durable gaming company needed an established distribution advantage, leading to the creation of a group chat app for gamers.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

In the early days, investors rejected our multiplayer game idea because they doubted its potential for success, which ultimately led us to pivot to Discord.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

We quickly realized that building it and expecting users to come didn't work; we had to actively engage potential users to grow our platform.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

The breakthrough for Discord's growth came from inviting users to provide feedback rather than just promoting the app, which helped build a community.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

During the pandemic, we learned that some features didn't resonate with users, prompting us to refocus on our core gaming audience.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

I do not regret expanding into various verticals, as it introduced Discord to many new users, contributing to significant business growth.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

I approach delegation by clearly defining problem spaces for my teams while maintaining accountability for the outcomes of their projects.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

The mistake I made was delegating decisions to the wrong level in the organization, which hindered our ability to ship great products.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

Today, I have seven direct reports and work closely with the frontline teams to ensure that product development aligns with our strategic goals.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

The most effective way to drive and implement strategy is to ensure that the team is aligned on the core mission and values, rather than just following a rigid plan.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

I find that hiring experienced executives can be detrimental because they often come with preconceived notions that may not align with the company's culture or needs.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

Empowerment and alignment are often misunderstood; true empowerment comes from allowing individuals to choose their paths rather than simply telling them what to do.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

During a challenging fundraising round, I once offered to return investors' money because I believed in the long-term vision of Discord over short-term gains.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

I turned down a $12 billion offer from Microsoft because I felt that we had a unique opportunity to create something special and control our own destiny.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

The gaming industry is currently in a contraction phase post-COVID, but I believe it will grow significantly in the next decade as digital technology evolves.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

AI will dramatically lower the cost of creating high-quality games, enabling smaller teams and individual creators to produce content that was previously only possible for large studios.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

While democratization in game development is exciting, it will lead to an oversupply of games, making discovery increasingly challenging for developers.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

The future of gaming will likely see a significant increase in personalized experiences, as consumers will have more choices and niche games will thrive.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

The implications of AI advancements are hard to predict, especially regarding how they will transform our lives and the gaming industry in the next decade. AI could transform gaming by creating characters with complete backstories that respond to players based on their decisions, leading to endless bespoke content tailored to individual experiences.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

The future of gaming may involve subscription models, similar to World of Warcraft, where players pay to continuously explore and engage with an ever-evolving game world.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

Raising funds for a fast-growing business is easier, but the hardest round for Discord was the Series A, where many investors doubted the potential of the gaming chat app.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

I chose to work with Mitch Lasky from Benchmark because I believed in his vision for Discord, even when I had offers for better valuations.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

During a meeting with Rockstar Games, I realized that to compete in the PC game store market, we would need to invest heavily in minimum guarantees for game titles, which led us to pivot away from that business.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

Investors were supportive when I decided to pivot from our game store after realizing it wasn't worth the investment, showing their confidence in our ability to figure things out.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

Creating software that is useful and enjoyable for people is my passion, and while I recognize the need for liquidity for investors, I focus on solving customer problems.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

If I could change anything about Discord, I would focus on hands-on problem-solving experiences rather than rote memorization, as people learn better through engagement and experience.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

Access to higher education is a significant issue, and I support initiatives like an accredited online university that allows students to earn degrees from Ivy League professors.

JC

Jason Citron

11/25/24

@ 20VC with Harry Stebbings

Nuclear power is an underutilized technology that could provide significant energy solutions, yet it has been largely regulated out of usefulness in America.

Jason Citron, Co-Founder/CEO @Discord: The Untold Story Behind Scaling to 200M Users | E1230

Takeaways