Digital Companion

While the insights of The Entrepreneur’s Essentials are original and draw on the life lessons of a quarter century of founding and running six companies, the rigor of my thoughts on entrepreneurship has been shaped by literally thousands of brilliant minds. Much of my thinking has been guided and inspired by professors, colleagues, and collaborators at my university alma maters and gatherings, from the Aspen Institute and Dialog to Austin100 and TED. Equally, the work of this book has been vitally informed by scores of books, hundreds of podcasts, and video lectures, and thousands of essays by both business leaders and academics. In place of a conventional bibliography, we have created the Digital Companion for readers to access a cross-section of the most important thinking of others on the themes of entrepreneurship, business, and the emerging digital economy that are explored in my slender volume. The content chosen to support the lessons of the book is organized both by chapter and by medium: to read, to listen, and to watch.

Update: you can now chat with my book with this custom GPT. All of my book’s content has been ingested into OpenAI.

— B.H.


Chapter 5 - Bootstrap or VC?

To read:

Why launch a startup: For the big money and for the opportunity to control your own company, certainly. But new research from Harvard Business School’s Noam Wasserman shows that those goals are largely incompatible.

Startup upstart: As VCs from both coasts join the move to Austin, Texas, the city is the new land of unicorns and tech giants, writes TechCrunch magazine.

Pitchbook: PitchBook tracks every aspect of the public and private equity markets, including venture capital, private equity, and M&A.

The gems of GEM: This UK-US consortium paints a picture of the planetary level of entrepreneurial activity, examining entrepreneurial motivations, intentions, and attitudes around the world.

The VC Lab: The VC Lab program helps innovative fund managers launch impactful venture capital firms in 12 months or less, says founder Adeo Ressi.

‘For the good of humankind’: As a public benefit corporation, data.world seeks to maximize data’s societal problem-solving utility

The VC as ‘Sherpa’: The partnerships between entrepreneurs and VCs are akin to the relationship between the Sherpas and climbers who scale the heights of Mt. Everest.

To listen:

Founder’s Dilemma: Do you want investors who stay in the shadows (remain king), or ones who are hands-on (get rich)? Your call says Harvard’s Noam Wasserman in this Spotify podcast.

To watch:

Rich/King redux: So you want to be an entrepreneurial Superman, leap buildings in a single bound? Don’t try it until you watch this short lecture with Noam Wasserman of the Harvard Business School:

Chapter 6 - The Fallacy of Risk in Entrepreneurship

To read:

THE Classic: Now three decades old, The Innovator’s Dilemma by Clay Christiansen is reviewed as the “classic” book on disruptive technology.

Risk-averse Ted Turner: Malcolm Gladwell’s essay in The New Yorker explores the risk-averse nature of successful entrepreneurs and it is essential reading.

Netflix, Blockbuster, and ‘bad profit’: In this Lucky7 blog series, Brett Hurt explores the difference between ‘good’ and ‘bad’ profits.

Building a culture of thrift: You can build a better business culture with bigger ripple effects if you are capital efficient, argues Brett Hurt in this Lucky7 blog post.

A father’s counsel: My father’s words: "Son, one day you may realize the value of keeping life simple…,” he said… “or you may not."

The new capital: Unlike angel investors, venture capital is a different ballgame, argues Bonobos Co-founder and CEO Andy Dunn. These folks are fiduciaries who probably own at least 10 percent of your business, and frequently more.

To listen:

Stewart Brand: The polymath explains why entrepreneurs don’t get visual arts, what libertarians don’t understand about government, and why we should bring back woolly mammoths.

To watch:

Our democracies: The fundamental scourge against democracies is the trap of systems that are too big too big to control, says former Greek Prime Minister George Papandreou.

The dilemma: Clayton Christiansen’s The Innovator's Dilemma is brilliantly explained in this four-minute visual.

Chapter 10 - The Strength of Natural Network Effects

To read:

Cricket networks: It all began with the chirpy synchronizers writes neuroscientist Mark Humphries in this essay on Duncan Watts’s famous journey into network theory and practice.

Human networks: In this Nature magazine essay, Collective dynamics of ‘small-world’ networks, Duncan Watts and Steven H. Strogatz explain their supercharged network theory and research.

The law of the pack: In this seminal 2001 essay in the Harvard Business Review, David P. Reed successfully predicted that the most successful businesses on the Internet would travel in packs. 

Nature’s networks: Science Focus magazine shares five examples of nature networking in ways entrepreneurs should mimic to create platforms greater than the sum of their parts.

Success formula: Startup durability = Network Effects + Economies of Scale + Brand + Embedding + IP, argues serial entrepreneur, investor, and network theorist James Currier.

Networking to success: The key factor in the success of companies as different as Microsoft and Wal-Mart is the success of the networks with which they do business, argue authors Marco Iansiti and Roy Levien.

Networks of networks: In the digital economy, networks are the architecture of the new order, argues Competing in the Age of AI - Strategy and Leadership When Algorithms and Networks Run the World, a complex but critical book. 

To watch:

Think platform: As AI is embedded in all facets of our networked commercial ecosystem, “platforms are changing the landscape of our economy,” says Harvard Professor Karim H. Lakhani in this compelling interview.

Chapter 18 - Forming Your Company’s Values

To read:

Market morality: The marketplace is now our core moral experience, and we need to design new ways to accommodate this reality within the limits of the planet, argues philosopher Achille Mbembe.

Digital power: We live in a “technopolar moment” when technology companies are reshaping the global order, writes Ian Bremmer, geopolitical theorist and founder of the Eurasia Group.

A new business ideology: A new ideology for our new digital economy is nigh and only the institutions of commerce themselves can lead this, argues Brett Hurt in this TechCrunch essay.

New realities: The assumptions many businesses were built on no longer fit with the way they need to be run, wrote the doyen of business theory Peter Drucker in this seminal essay.

Organizing Genius: In a shrinking world demanding more collaboration, the  “hero CEO” is obsolete argues the late Warren Bennis is his seminal book reviewed in the New York Times.

Play Bigger: If you have a game-changing idea, make it a reality along with a new category of business that you create and dominate, write the authors of this foundational book.

The principles of data.world: The top five were Determination, Passion, Community, Integrity, and Curiosity, in this exercise mapped here.

Policing in America: Supported by data.world, this ongoing survey seeks to build reliable statistics about behaviors and attitudes towards policing at the local level in cities across America.

Build a better world: Capitalism must help individuals achieve better futures, drive innovation, build resilient economies, and solve some of our most intractable challenges, argues BlackRock CEO Larry Fink. 

Public benefit corporation: The “B Corp: movement seeks to address society's critical challenges by shifting the behavior, structure, and culture of capitalism.

The commitment of data.world: See what data.world means when it declares that social and public purpose is behind its decision to operate as a public benefit corporation. 

Doing well while doing good: Some 20 CEOs, led by Salesforce’s Marc Benioffm embrace  philanthropy as a win-win situation for the community and the corporation in The Business of Changing the World.

To listen:

Nurturing values: Brett Hurt explains the resources he uses to scale companies, build values, and communicate with investors in this podcast interview.

Pandemic wake-up: The turmoil of the pandemic was the  “ultimate growing-up experience” for business founders,” argues Airbnb founder Brian Chesky, in the podcast interview.

To watch:

CEO accelerator: This 10-week, 10-class set of CEO courseware was designed by the former Evite CEO Victor Cho. It is intense, innovative, and free. 

Chapter 23 - Conclusion: Entrepreneurs Must Lead Our Nation’s Healing

To read:

King’s Letter from Birmingham: “We are caught in an inescapable network of mutuality, tied in a single garment of destiny,” wrote Rev. Martin Luther King from the Birmingham Jail.

Center for the Study of Race and Democracy: Led by Dr. Peniel Joseph, one of the world’s leading incubators of thought on our racial reckoning is at the Lyndon B. Johnson School of Public Affairs at the University of Texas at Austin.

White privilege: One of the most lasting myths about Reconstruction is that the “forty acres and a mule” proposal was simply too radical to ever succeed, argues Keri Leigh Merritt in, Masterless Men: Poor Whites, Slavery, and Capitalism in the Deep South.

America’s longest-running affirmation action program: An estimated $10 trillion, in today’s dollars, was transferred to white homesteaders, essentially for free.

Diversity in tech: It’s pretty bad but getting better. Check out the state of progress with the series by Crunchbase News, entitled Something Ventured - How entrepreneurs access opportunity in America.

The roots of violence: White America’s progress, or rather the progress of those Americans who believe that they are white, was built on looting and violence, argues Ta-Nehisi Coates in Letter to My Son.

To listen:

What’s White? Why? Where did the notion of “whiteness” come from? What does it mean? What is whiteness for? Rutgers Professor Chenjerai Kumanyika explains in this podcast series.

The Destruction of America’s Black Wall Street: This Harvard Gazette review explores the seminal book on the economic devastation in Tulsa, Oklahoma – from which the city’s Greenwood District never recovered its status as America’s Black Wall Street.

Latino founders a rarity: Bain & Company consultants found that among the top 500 venture capital and private equity deals in 2020, fewer than 1 percent involved a Latino founder.

Venture capitalism’s gender divide: Female CEOs receive only 2.7 percent of all venture funding, while women of color get virtually none: 0.2 percent, finds this study by the Washington Center for Equitable Growth.

Ta-Nehisi Coates to his son: “Here is what I would like for you to know: In America, it is traditional to destroy the black body—it is heritage.”

To watch:

Capitalism’s ‘dirty secret.’: The market is the greatest social technology ever invented for solving human problems. So let’s use it, argues Venture Capitalist Nick Hanauer in this TED talk.

Bloody Sunday: Watch this historic video of the civil rights workers’ famous Sunday march across the Edmund Pettus Bridge in Selma, Alabama on March 7, 1965.