In many respects, the pandemic has merely accelerated the changes that were already occurring from a societal perspective. Technology, automation, new business models and fundamental changes in societal demographics have all culminated in a dramatic and dynamic period for human civilization.
This has been reinforced recently with the recent US election cycle. The divide between the traditional political spectrum of left versus right has grown worse and it doesn’t appear that the divide will be minimized any time soon. Many would ask, what do the socio-political changes that we are seeing today have to do with startups?
For some startups, such as Coinbase, they believe that it is best to remain apolitical and focus solely on the narrow mission and vision of the startup. Such startups believe that it is a critical necessity to remain neutral to ensure that they are not distracted but to fulfill their fiduciary responsibilities related to investors, customers and employees.
On the opposite end of the spectrum, there are those startups that believe that what we are seeing in society is the realization that the work-life balance is a falsehood that should be relegated to the dustbin of history. There is an increasing realization that work has a dramatic impact on our personal lives in all aspects whether it is physical health or mental well being. As such, both startups and their respective human capital, from investors to employees to management, are realizing that a new holistic framework needs to be developed to take this into account. The building of this new holistic framework will not be an easy one though.
Ignoring the socio-political element for a moment and focusing solely on the “work-life” balance element, for some, this will be a wholly foreign concept that they will either resist or be extremely uncomfortable with. The ethos of Silicon Valley was the first nail in the coffin when it came to work-life balance.
“Passion” has always been part of the Silicon Valley ethos. For many, it is critical to surviving the ups and downs of startup life. From the big wins that occur when closing the first monumental client deal to the enormous stresses that come with fundraising and meeting near impossible deadlines, passion for many Silicon Valley founders is what sustains them through the ups and downs.
While the Silicon Valley ethos may work for some, it definitely will not work for the vast majority of individuals who have other desires and commitments. Whether it is taking care of their families, growing their personal interests or just enjoying nothing, the Silicon Valley ethos, in many respects, does not address the holistic desire that most people want from their employment. It is merely “workaholism” repackaged into a new philosophy.
Indeed, the pandemic has caused the Silicon Valley ethos breakdown with many individuals choosing to leave Silicon Valley for environs that better suit their personal preferences. Whether it is Denver, Los Angeles, Paris or Bangor, many individuals have decamped Silicon Valley to locations that provide the mental and spiritual needs that they desire such as communing more with nature or being closer to friends and family.
In many respects, individuals leaving Silicon Valley are reflective of the reality that we as a society still haven’t found a way to completely merge our human natures with the economic system that we’ve developed. The capitalist system that we work with today chooses to treat human capital as mere expendable and replaceable widgets that are devoid of human emotions and desires. While that may have worked for our parents’ generation and our grandparents’ generation, we are seeing that it is not working with today’s generation.
While material wealth may drive a significant number of us to make personal sacrifices, it is becoming apparent that individuals are starting to make decisions that are less oriented around material gain and more around personal fulfillment. The pandemic along with the work from home situation that it has forced on all of us is making us all individually evaluate who we truly are and who we want to be. Tough questions to ask ourselves during a tough situation.
Many may be wondering what all of this has to do with how we start working with each other in the future. Society and the work environment itself is starting to realize that the personal is increasingly coming to the forefront and it will not be addressed with outdated models and paradigms.
Someone once told me that “you want to work with your friends” and in many respects that is true. If you are spending the majority of your waking hours with colleagues more than your own family, you definitely want to work with colleagues who you not only trust but get along with. While that might be true, how does that work in an increasingly connected and diverse society?
Study after study has indicated that diversity is a critical factor to high performing startups. The differences in thought, beliefs and even understanding is critical to comprehending the diverse and nuanced markets that are the bread and butter of startups today. Not only that, it prevents groupthink and ensures that startups aren’t blindsided by unknowns and unforeseen challenges such as the pandemic.
If diversity has proven itself to be a high performing accelerant, why has it been so difficult to implement? In many respects, we have left diversity and the ability to interact with diversity up to chance instead of embedding it in our society and in everyone’s individual values. That laissez-faire approach to diversity and the ability to interact with diversity is at the heart of the problems we have in society today to talk to one another.
For too long, we’ve relied on indirect means of addressing how we as a society and as individuals educate ourselves concerning diversity. Whether it is relying on individuals to attend college, travel to exotic locales or move to major metropolitan centers, individuals learnt about diversity indirectly because of their individual actions. While this potentially only reached a minority of the global population, for many, that was enough for many to believe that diversity would eventually be the norm versus the exception. The past decade has definitely put an end to that illusion.
While many have used technology and global travel as a means to increase their understanding of diversity, for many others, they have used it to reinforce old stereotypes and bias. This reinforcement of old stereotypes and bias combined with a society in transition has seen the past decade be a very unpredictable and tumultuous one.
How does this impact startups and more fundamentally work? Unfortunately, in a very negative way. Increasingly, we as a society are having a hard time to look past the rhetoric and see each other not only as individuals but as members of the same species. This increasing schism prevents us from investing and growing the best ideas making all of humanity poorer as a result.
What are we to do about it? It would be easy to state that this is a societal problem and one for institutions to solve but it is an individual problem to solve as well. Indeed, the fact that it is an individual problem to solve as well makes it even more difficult.
Social institutions and businesses can only do so much. Many are incorporating into their mission and values ideas around societal purpose as well as undertaking tactical initiatives such as inclusion and diversity training but the missing component of all these initiatives is the individual.
We as individuals, regardless of where we lie on the political spectrum, must grow ourselves and be willing to listen to one other even if the ideas expressed are the polar opposite to our own personal ideas. Individuals must find a way to understand that having an opposite opinion concerning a topic is not a personal attack but a reflection of the diversity that humanity has.
The ability to listen to one another and to find common ground is what has driven the success and growth of Silicon Valley. It is critical that we as individuals continue that success by having the self-awareness and the willingness to learn to ensure that success continues.
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