We're taking off the month of August! During our hiatus, we'll be playing some vintage episodes of the 37signals Podcast, a show that Basecamp ran from 2009-2011 (and then forgot all about until Wailin came across the show during an unrelated Google search). In this episode, Basecamp (then 37signals) co-founders Jason Fried and David Heinemeier Hansson discuss a satirical press release they wrote to skewer overblown tech company valuations. That leads to a broader discussion about investment, exits, and serial entrepreneurship.

BONUS - 37signals Podcast - Valuation Tales

A podcast by 37signals about the better way to work and run your business. The REWORK podcast features the co-founders of 37signals (the makers of Basecamp and HEY), Jason Fried and David Heinemeier Hansson sharing their unique perspective on business and entrepreneurship along with host Kimberly Rhodes.

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Management

In the podcast, REWORK host Kimberly Rhodes talks with 37signals co-founders, Jason Fried and David Heinemeier Hansson, about their journey spinning off products. They stress the value of keeping contracts simple and how once the handover is done, it's best to take a hands-off approach and let the new team run things. They share their experiences with boards and underline the need for trust and flexibility.  Key Takeaways: 00:43 - The steps they took to transition "Know Your Company" into its own independent entity.

04:49 - Contracts don't offer as much protection as people believe.

10:58 - The differences in spinning off a startup vs. a long-established company.

14:53 - Letting capable partners take the reins and run the show independently.

18:51 - The challenge in finding the right partner for a spin-off business. 20:12 - In any transaction, things may not turn out as expected, but it may be worth taking calculated risks.

23:19 - Contracts don't necessarily prevent disputes and can sometimes escalate them unnecessarily.

 Links and Resources: Canopy, formerly known as Know Your Company ‘Know Your Company’ Deal Structure Books by 37signals Sign up for a 30-day free trial at Basecamp.com HEY World | HEY The REWORK podcast The Rework Podcast on YouTube The 37signals Dev Blog 37signals on YouTube @37signals on X

A Spin-off Story

"Consensus is cozy, but broad agreement is not our aim. The right decision is. Which is why we take the time to think, debate, persuade, listen and reconsider and then, someone, decides. If you disagree, that’s fine, but once the decision is made, it’s time to commit and support it completely."

Tune in as Kimberly leads a chat with Jason Fried and David Heinemeier Hansson, co-founders of 37signals, about the concept of Disagree and Commit. Once a decision is made, everyone should be in 100% — no looking back.

 Key Takeaways: 01:01 - Breaking down how Disagree and Commit operates

02:17 - Identifying the most suitable person to make the final decision based on the circumstance

07:40 - Embracing the "manager of one" concept, empowering individuals to decide independently with reasonable supervision

09:33 - Acknowledging that delegating decisions doesn't compromise the emphasis on quality

14:04 - Always keeping the door open to revisit and tweak things

15:44 - Granting capable individuals the freedom to make mistakes, alongside providing guidance for improvement

20:35 - Viewing hiring not just as an evaluation of current abilities but also considering potential growth opportunities. 
Links and Resources: Jeff Bezos 2016 Letter to Amazon Shareholders There’s No Speed Limit by Derek Sivers –  https://sive.rs/kimo  Books by 37signals Sign up for a 30-day free trial at Basecamp.com HEY World | HEY The REWORK podcast The Rework Podcast on YouTube The 37signals Dev Blog 37signals on YouTube

Disagree and Commit

Jason Fried and David Heinemeier Hansson, the co-founders of 37signals, dive into their book REWORK and discuss the essay “Strangers at a Cocktail Party” with Rework host, Kimberly Rhodes. From their experience, hiring too many people at once can throw off the balance and continuity of a company's culture. They talk about the importance of gradual assimilation and how culture is implicit, not always written down. They share insights on the value of fresh perspectives and the excitement of facing challenges head-on.

 Key Takeaways: 00:30 - Gradually integrating new hires is important for upholding an organization's established norms and values.

02:30 - Company culture is nurtured through the daily interactions and collective experiences shared within an organization.

05:34 - New hires inject new perspectives and innovative ideas into the mix.

07:14 - Embracing crises and novel challenges is part of the excitement of running a business.

12:19 - Reflecting on the hiring patterns at 37signals.

14:23 - While change is essential for adjusting the company's culture and strategy, it's vital to implement it carefully and minimize disruptions.

 Links and Resources: The Half-Life of Facts by Samuel Arbesman All About Atlas - Boston Dynamics Robot Books by 37signals Sign up for a 30-day free trial at Basecamp.com HEY World | HEY The REWORK podcast The Rework Podcast on YouTube The 37signals Dev Blog 37signals on YouTube @37signals on X

Strangers at a Cocktail Party

This episode of REWORK delves into an essay from the book "It Doesn't Have To Be Crazy At Work," co-authored by Jason Fried and David Heinemeier Hansson, advocating for the use of asynchronous communication for work projects. During the discussion, they explore the downside of chat and suggest it be reserved for informal discussions and social interactions.

Key Takeaways:

00:36 - Different communication methods in the workplace – chat vs. asynchronous 

02:22 - The benefits of centralized communication for project management and how chat can hinder productivity

09:20 - Managing multiple conversations for a single project

11:28 - How project management tools reduce the need for frequent meetings, check-ins, and follow-ups

20:05 - Data retention practices for both formal and informal communication

Links and Resources:

Once. com – https://once.com/
Campfire – https://once.com/campfire
Books by 37signals – https://37signals.com/books
Sign up for a 30-day free trial at Basecamp.com
HEY – https://www.hey.com/
The REWORK podcast – https://37signals.com/podcast/

Rework is a production of 37signals. You can find show notes and transcripts on our website. Full video episodes are available on YouTube and X.

If you have a question for Jason or David about a better way to work and run your business, leave us a voicemail at 708-628-7850 or email, and we might answer it on a future episode.

The Wrong Time for Real Time

In this episode of REWORK, host Kimberly Rhodes sits down with the co-founders of 37signals, Jason Fried and David Heinemeier Hansson, to provide an update on their latest product — Campfire, under the Once umbrella — just about one month after its initial launch. Once introduces a new software paradigm where users pay just once and own it forever, departing from the conventional subscription model. The discussion delves into their pricing strategy, their emphasis on long-term profitability over immediate gains, and offers insights into what lies ahead for Once. Key Takeaways:

00:32 - Initial Reflections: Once, 30 Days In 

02:03 - Setting Benchmarks: Unveiling Novel Concepts for Long-Term Success 

09:58 - Embracing the Journey: Finding Joy in the Process 

13:39 - Looking Forward: The Future Trajectory of Once 

15:53 - Taking Risks: Navigating the Gambles of Product Launches 

23:24 - Pricing Puzzles: Deciphering the Right Value

Links and Resources: Once. com and Campfire
Books by 37signals
Sign up for a 30-day free trial at Basecamp.com
 HEY.com
The REWORK podcast
The Rework Podcast on YouTube
The 37signals Dev Blog
37signals on YouTube
@37signals on X 

BONUS - 37signals Podcast - Valuation Tales

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