It’s been a long, long time

Hello Blog World,

I realized I haven’t posted in about a year. It’s been a busy one. I’ve been in Oxford, working on my MBA at the University of Oxford and that is now nearly finished. It has been an exhilarating and amazing experience every single day to live in this beautiful city. One reason that I haven’t written much here is that I have been blogging about my experiences on a regular basis at the Financial Times.

On a professional front, I’m proud to report that Skillbridge was sold to TopTal in April. It was a great experience to grow a company from almost nothing into something much bigger. And I was able to work with super talented people along the way. I’m gonna miss that.

My other big announcement is that a film that I have worked on for over 5 years has now come to fruition. Catch AMANDA KNOX on Netflix as a Netflix Original starting September 30. And if you’re in Toronto earlier in September, come check it out at the Toronto Film Festival where it will be premiering. It is so gratifying when hard work pays off.

I’m also happy to report that my passion for healthy living is still in order. I was lucky enough to have the Green Templeton College gym in my backyard this year, eliminating my need for ClassPass. I feel as good as I ever have.

As much as this is a time of endings for me (Oxford, Skillbridge, Amanda Knox), I am excited about many new beginnings. I don’t know where the world will take me next, but I’ll be sure to update you as soon as I find out.

Talk soon,

Stephen

 

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Your body is stronger than you think: Notes after two months on ClassPass.

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I am not a “gym guy.” Other than a very brief stint on an elliptical machine as a sophomore in college, and a second brief stint on a stairclimber at Crunch Fitness in LA in 2008 (conveniently located across the street from my place of residence), I haven’t been to a gym in years. I have always preferred outdoor sports – cycling, flag football, hiking, and tennis. Part of this is because I’m an unabashed germaphobe, and I feared what microorganisms were waiting for me in various locker-rooms and workout machines.

I have never been able to motivate myself to work out regularly: I had a small belly that for years I couldn’t get rid of. Eating and drinking right is — or was — easier for me than partaking in fitness regimens.

During the summer of 2014 I heard about ClassPass from my friend Anastasia Leng. I was intrigued by ClassPass’s value proposition, but I didn’t immediately join: I figured that with so many weekends away in the summer, it wouldn’t be worth it.

However, at the start of Labor Day Weekend, on my 29th birthday, I had a mild existential crisis and thought it would probably be better if I lived to 100 instead of 75. So I joined ClassPass. I decided to plunk down $99 per month to go to dozens of gyms (3x maximum each per month). Yes, this sounds expensive at first, but for me, it was a lifesaver.

What do I love ClassPass? It is perfect for Millennials — especially Millennials with ADHD. There is no commitment to one gym, and every day is different. Sure, some classes I love more than others, but all have value in improving the body.

And I’ve realized: The locker-rooms and machines at 90% of the gyms I have attended are sufficiently well-cleaned so my germaphobia was misguided!

Here are some of my favorite ClassPass classes:

1. BCL Fitness (Prospect Park and Central Park) – Melissa Carter is a lovely person and inspirational teacher. This is a simple boot camp held in Prospect Park or Central Park. You are drenched with sweat after it is over, and it feels so good.

2. Swerve Fitness (at 18th and 5th in Manhattan): I love that this is a cycling class with built-in sprints and competitions. I have become (psychotically?) competitive  – I scored an 809 here recently and was #1 in class. Halston is my favorite instructor here, but the others are equally inspiring. I also love that Swerve emails you your scores 15 minutes after class ends, making great use of data.

3. BFX (at 17th and 6th in Manhattan) – From boxing classes to cycling, this (new!) gym is great. Helpful instructors all around.

4. AQUA Studio NY (78 Franklin St – Tribeca) – This is cycling (spinning) in a pool. Yes, the concept is a bit crazy, but it is an intense workout, but it works wonders after a stressful day/week at work.  Anne K. is my favorite instructor as she doesn’t stop pushing you to your limits.

5. FlyWheel (Multiple locations) – Ah, FlyWheel, the redheaded stepchild of SoulCycle. The teachers here (I have had many) are all special and do such an amazing job of motivating you. One small problem: Waiting in line for the showers after class. Oy!

After two months, I have noticed significant changes in my body: My stomach is flat, my legs feel lighter, my hair looks thicker, my disposition is cheerier,  and either I now have delusions of grandeur or I really feel like I can conquer the world. Despite the unending stress of startup life, I am dealing with it far better than I did previously.

There have been a couple of classes that I haven’t enjoyed as much as the ones mentioned above, but it has probably been a mixture of my personal preferences (e.g. lack of showers or difficult to get to) that have led my to these conclusions. I was excited to learn that ClassPass raised $12 million a few weeks ago and will therefore be around for a while. Give it a shot. I promise you, it will be worth it.

Entrepreneurship is hard, so don’t claim that it’s easy.

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Entrepreneurship has definitely become cooler and cooler in the minds of Millennials during the past 10 years: Facebook was founded in 2004. That gave the Millennial Everyman hope that he too could start a multi-billion dollar business and retain ownership of it to the end. Then, the 2008 stock market crash and the subsequent recession erased the traditional job opportunities that Millennials and others had grown entitled to.

I graduated from the University of Pennsylvania in 2007, majoring in English and History. Why? Because I was told by countless professors and mentors to “study what I loved.” In retrospect, I should have probably focused on Marketing or Computer Science in tandem with one of my two humanities choices, but c’est la vie, those days are behind me.

Today, Millennials are unemployed in record numbers, and many see “entrepreneurship” as the only way out of unemployment. Plus, entrepreneurs wear t-shirts, shorts, and flip-flops to work year-round, and don’t have to answer to anyone… But let’s get this straight: Being an entrepreneur is hard work. It is far more difficult to run your own company than it is to be a cog in a wheel at a large corporation. There are many late nights, sleepless nights of nervousness, and you never know where you will be in six months time. Plus, working on weekends isn’t the exception, it’s the norm. That’s stressful, and it’s not for everyone, despite what some pro-entrepreneurship organizations would have you believe.

(Yes, many entrepreneurs become depressed from this stress too.)

Before I started SkillBridge, I had worked at 3 funded startups and started 2 of my own businesses. Both businesses “failed” in the sense that they never were acquired by anyone else, but they were both incredible learning opportunities and earned me a bit of money along the way. However, as I wrote on LinkedIn, you are NOT wasting your 20s working at a large company. My article says, “Many of my most intelligent friends from the University of Pennsylvania and other fine institutions started their careers at Google, McKinsey, or other large tech or consulting firms. Some of them are still there — and those who stuck around seem quite happy. For example, my good friend Josh Steinberg works for Google and now lives in Tokyo, his dream city, and has traveled all around the world, on Google’s dime. My other good friend Anastasia Leng founded Hatch.co after working at Google for 5 years. Neither of them would change a thing about their 20s. They were able to pay off their student loans, travel, and live excellent lives.”

Alas, there is also a grammar problem in the world: You don’t have a “startup” if you are not seeking to scale your business. You simply have a small business, and that is an excellent accomplishment. No, your nut butter stand may never achieve the scale of Nutella, but it’s very cool that you can derive income from it.

There are so many “pre-revenue” entrepreneurs out there, who are great at selling themselves, but once you dig a bit deeper realize they’re all fluff. Putting up a LaunchRock page for your idea doesn’t make you an entrepreneur: Go build something, and then tell people you’re an entrepreneur. Go assemble a world-class team, and then say you’re an entrepreneur. Go make enough profit to live off of, and then call yourself an entrepreneur.

Too many people out there are selling this entrepreneurial dream but not detailing the amount of work involved to create it. Sorry kids, there are probably 100 people out there with the same killer app idea that you have, yet having the idea is only the beginning. Strategy and execution are everything.

I wouldn’t change anything about the path that I chose, because I value adventure and not knowing what is around the next corner. However, there have been times when I’ve been ready to turn in the towel. Unless you can tolerate high levels of uncertainty, you won’t go far as an entrepreneur.

Raj De Datta Is Wrong: You are not “wasting” your 20s at Google or McKinsey. Here’s why:

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This morning, when I logged into LinkedIn, I saw an article titled “Don’t Waste Your 20s at Google or McKinsey.” And I disagree with it completely.

The article’s author Raj De Datta writes, “Going to work at a start-up or growth company in your 20s will put you on the fast-lane learning curve. It will be the best investment you can make because you’ll find yourself.” Your 20s, are, of course, a period of 10 years. I am now 28 years old, and have spent approximately half of my time thus far working for others, and the other half working for myself. While I may be happier overall when pursuing entrepreneurial activities, I am very thankful for the many learning experiences I had at big companies.

The article’s author, Raj De Datta has worked at a couple of larger firms, Cisco in the tech space, and at the investment bank Lazard. Perhaps he chose not to learn while working there, or he didn’t want to advance up the corporate ladders of those institutions.

I am more and more dismayed when I see wantrapreneurs striking out with poorly thought out ideas, wasting their parents hard-earned money, or having zero idea how to run a business because they have never worked at a successful one.

I am quite thankful for the time I spent at William Morris Endeavor (only Endeavor when I worked there), Mother Jones magazine (a large non-profit, technically), Seamless.com (now merged with GrubHub), and Quirky.com — all far larger companies than SkillBridge is today. At larger companies you learn to deal with people: Sure, not every person will be the best. But it is your job to learn to work with them, come hell or high water — so that you, your team, and the larger company can succeed. These experiences have certainly benefited me as an entrepreneur: My customer service skills are now superb because of my experiences dealing with colleagues and customers over the years.

As for De Datta’s argument that Google or McKinsey aren’t ideal places to work, that is complete and utter nonsense. My most intelligent friends from the University of Pennsylvania and other fine institutions started their careers at Google, McKinsey, or other large tech or consulting firms. Some of them are still there — and those who stuck around seem quite happy. For example, my good friend Josh Steinberg heads professional services for Google in Tokyo, his dream city, and has traveled all around the world, on Google’s dime. My other good friend Anastasia Leng founded Hatch.co after working at Google for five years. Neither of them would change a thing about their 20s. They were able to pay off their student loans, travel, and live excellent lives that will prepare them well for the future.

It is no secret that at SkillBridge, we recruit individuals to become our consultants who have at least three years experience working at large, name brand corporations. This is not an accident: We know that Google, McKinsey, and other top-tier firms have vetted their candidates well. We know that it is challenging to work at these places and that Google and McKinsey employees solve real-world problems every single day. Therefore, we know that Google, McKinsey, Bain, and BCG produce the cream of the crop. Why wouldn’t we want these top-notch people to work for us at SkillBridge?

Plus, not everyone is an entrepreneur; Not everyone wants the stress of starting a new company. And not everyone can afford to take the risk to work without payment for a long time, as many entrepreneurs do. Many people would rather spend time with their kids or spouse rather than working at a startup.

More than 90% of startups fail, despite what some Millennial-focused publications may have you believe. There is nothing wrong with wanting the stability, benefits, and perks that come with working at a large corporation. If you have to pay back student loans, few more sensible options exist.

There are dozens of valid reasons why someone would want to work at Google, McKinsey, or another top firm. Heck, many people treat a stint at McKinsey, Bain, or BCG as a free ride to graduate school in which you are being paid to work. The training that you will get at these firms is incomaparable, and can lead to life-long benefits — being able to bill out at $150 or more per hour at SkillBridge being just one of them.

So, to Raj De Datta — who may have just written that article as a recruiting tool for his startup: Stop spreading your gospel, as it is inherently false. And to everyone who did work at a large corporation in your 20s, I don’t need to tell you this, but you made a smart choice.