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Newsletter #5: Are Tech CEOs Addicted to Taking Silly Risks?
Sue Mysko
March 21, 2024
SCALE UP Newsletter #5
Welcome to Scale Up, the smarter way to grow with fractional executives.
In this edition:
🤖 Should AI Be Part of Your Growth Strategy
🩼 Why Are Tech CEOs Addicted to Silly Risks
💰 Investors Are Interested in Travel Startups
Let’s dive right in. 👇🏼
How to Decide If AI Should Be Part of Your Growth Strategy
Should your company be betting on AI as a growth strategy now?
How do you distinguish genuine opportunities from speculative fads and decide whether AI is your next big bet?
In this article, Harvard Business Review covers five steps to help your company answer this question. After thoughtful analysis, your decision ultimately boils down to this: Does the current state of AI align with your business strategy? If it does, the investment in this tech wave could propel your business to new heights.
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Why Are Tech CEOs Addicted to Taking These Silly Risks?
Tech CEOs like Musk and Zuckerberg are seen as crucial figures but engage in unnecessary risks, behaving more like thrill-seeking boys despite their importance to their companies.
The rise of new technologies has made these leaders even more essential, leading to a phenomenon called key-person risk, where a company's success is heavily dependent on the presence and performance of a single individual.
Travel Startups: Disruption From Within?
Travel startups have historically received minimal funding compared to startups in other industries, despite the significant contribution of the travel and tourism sector to global GDP.
However, despite these challenges, over $27 billion was invested in travel companies from 2020 to 2022, with a record investment of nearly $11 billion in 2021.
A new report titled "Travel startups: Disruption from within–or not?" provides an overview of the travel startup environment, analyzing the evolving funding landscape across different geographies and types of travel startups.
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Featured Fractional Role: Co-CEO or COO 🇦🇺
Fractional executives like you are applying for this role today!
Do you have the skills and expertise that this company needs to succeed?
Laugh More, Lead Better
Naomi Bagdonas and Connor Diemand-Yauman, lecturers at Stanford’s Graduate School of Business, hilariously explore the power at the intersection of humor, business, and leadership. It’s no joke.
Fractional Hiring: Assess Your Current Resources Before You Look for Talent
Traditional executive recruitment can be lengthy, expensive, and risky. Fractional hiring is a popular alternative for small and medium-sized businesses, allowing access to experienced executives on a part-time basis.
It offers cost-effectiveness, flexibility, reduced risk, and fresh perspectives. Assess your resources to determine if fractional hiring is right for your business.
Identify roles that may benefit from fractional hiring and areas that require high-level guidance.
