Brett Hurt: Public Benefit Corporations Can Have It All

03/17/20 • 53 min

Brett is the CEO and Co-founder of data.world, which is building the most meaningful, collaborative, and abundant data resource in the world as a Certified B Corporation. He is also a seed-stage investor at Hurt Family Investments in partnership with his wife, Debra, and previously founded several companies such as Bazaarvoice and Coremetrics.

In this episode, we discuss the key characteristics of B Corporations, why you can “have it all” by converting to that legal form, how to convince your investors and partners to convert, and how it impacts the board not only legally but also behaviorally.

We also address topics such as communication with board members as an entrepreneur, investor, advisor, and board member. Finally, we discuss the level of transparency conducive to productive culture as well as to what extent the board should be involved in shaping mission, vision, and culture.

If you want to follow what’s happening in the data world or the startup community in Austin, check out what Brett is up to at https://medium.com/@databrett and http://lucky7.io/. You can also follow him on Twitter @databrett. For more podcasts on how to build better Boards, join us at www.boardsnetwork.com and follow us on Twitter @boardsnetwork.

Previous Episode

Kevin Oxendine: Lower Middle Market Entrepreneurship And Search Fund Boards

Kevin is a Partner at Pacific Lake Partners and works closely with search fund entrepreneurs throughout their search, acquisition, and operating phases and is a Board Member of Emporos and Kantola.

In this episode, we discuss the critical differences between the COO and CEO role, the search fund model, and deep dive into search fund boards and their life cycle, from the search phase to the acquisition and liquidity event.

We also discuss what it means for Boards Members to work with relatively young CEOs, as well as the role of independent Board Members and alignment with search fund CEOs. Finally, we also talk about Board compensation and why Board members can be the best mentors for a young CEO.

If you want to follow some of the best investors in the lower middle market, check out what Kevin and his team are up to at www.pacificlake.com. You can also follow Kevin and Pacific Lake on LinkedIn or Twitter @koxendine & @PacificLake. For more podcasts on how to build better Boards, join us at www.boardsnetwork.com and follow us on Twitter @boardsnetwork.

Next Episode

Mark Selcow: Think Company First

Mark is a serial startup founder and operator who is now an investor at Costanoa Ventures focusing on SaaS, fintech, future of work, and marketplaces. Prior to joining Costanoa, Mark was an operator, co-founding and serving as President of two companies, BabyCenter (sold to Johnson and Johnson) and Merced Systems (sold to NICE Systems). At Costanoa, Mark helped several portfolio companies as an Advisor and Board Member, and even became Interim CEO of Quizlet, a leading consumer learning tool.

In this episode, we hear about Mark's experiences as a founder of two very different businesses - BabyCenter and Merced Systems. We also hear about how market conditions in the late '90s impacted the BabyCenter trajectory and how that experience has informed Mark's role as a board member and investor today.

Furthermore, we address topics such as ideal board composition, the role of industry experience, what its like to be an interim CEO, and how to think about exits as a founder.

If like Mark, you are interested in early stage business-oriented technologies and SaaS, fintech, and the future of work, you should absolutely follow him on Twitter @mselcow. For more information on his firm, follow @CostanoaVC or visit their website https://www.costanoavc.com/. For more podcasts on how to build better Boards, join us at www.boardsnetwork.com and follow us on Twitter @boardsnetwork.