Gina Bianchini
@ginab
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Founder & CEO @MightyNetworks , a community platform. Past: A16Z. Ning. Passionate believer in people magic. Technologist. Entrepreneur. Human.
California
Joined December 2006
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Pinned Tweet
Some
@mightynetworks
news, but first a quick story.
After $370M in creator earnings last year, I was staring at a model that told us with 93% accuracy whether a course or community business would succeed.
It came down to just one thing.
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Thought experiment: what would happen to a woman leader if she showed up to a public keynote wearing sweats and a skull cap? Asking for a friend.
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Impressive.
Today, Whitney Wolfe Herd makes history as the youngest female CEO to take a company public.
She has:
🐝 Co-founded Tinder & Bumble
💰 Grown Bumble from $10 million revenue in 2016 to $240 million in 2019
👩💻 IPO’d with a 70% female board
Incredible story 👏
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1/ A bit of
@mightynetworks
news this morning. We’ve raised $50M. Here’s how we did it — and, much more importantly, why we did it.
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1/ I'm increasingly uncomfortable with the "get more women on their team" narrative of solving gender and diversity disparity in Silicon Valley.
@emilychangtv
@jessiwrites
@aileenlee
@ekp
@reidhoffman
@dickc
@juliahartz
, but this is a healthy and important debate to have now.
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1/ So, about “The Investor Rebuilding Kleiner Perkins” (which is unfortunately behind a paywall,
@jessicalessin
). I read it today with a feeling of deja vu.
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Want to be a woman who helps other women? Do what you need to do to take care of yourself and STAY IN THE ARENA. You can do more in your day job than you think.
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My first book comes out today. It's called Purpose: Design a Community & Change Your Life.
It's a step-by-step guide to finding your purpose and making it matter—and it's got a website at .
Here's why I wrote it. 🧵
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10/ One more thing. I’m over talking about women’s confidence. You know what makes someone insecure? Not being believed. Raising 2% of her male peers. Making 70 cents on the dollar of a guy whose ass she kicked in school. Being the only woman on a technical leadership team.
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6/ We need women and POC superstars to found and run rocketships. That’s the only thing that is going to change the power dynamic. Let’s not pretend this is easy. Women receive a fraction of investment money. It’s another way we aren’t believed. But it is also not impossible.
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3/ There are few-to-no examples in history where power is willingly given. Power is taken. And as long as we hold up men as CEOs and founders rather than shining a spotlight on women in charge, we’re not going to change a thing.
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I fixed this for you,
@ZekeJMiller
"SC sides with Americans who believe in voting as fundamental right in allowing Pennsylvania to count mailed ballots received up to 3 days after election."
WASHINGTON (AP) — US Supreme Court sides with Democrats to allow Pennsylvania to count mailed ballots received up to 3 days after election.
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One of the best lessons I have learned in my career as an entrepreneur is play your own game.
Sure, pay attention to what's happening in the market, but don't let it thrash you trend-to-trend, consume you with FOMO, or loosen your foundation or principles.
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Except it's not free. It's hours of time to not just write and edit, but to do so consistently. The false narrative about content given its not-so-hidden costs continually surprises me.
The cost of creating content is zero.
If you're not creating content about your expertise, you're at a disadvantage.
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I feel like we are currently living the future of work and therefore can hit pause on virtual conferences on the topic.
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20/ In this new world, we are all on notice. Posting empty diversity pledges, pointing to female associates, and taking a victory lap for not sexually harassing anyone this year does not get you a badge.
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We're at the phase in the election cycle when Democrats are starting to hedge. I've heard more resignation and fear in the past week than in the past 3 years.
What if this was the moment to be *even more* courageous and fight harder? What does that look like?
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Optimism is a competitive advantage.
Especially in 2022, it's easy to fall into narratives of general unfairness, injustice, and malaise. They are all around us.
Fight the urge to let them in. Optimists win.
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I feel like there's a competition in VC Twitter today to see who can offer the scariest prediction of the next 9 months.
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9/ If enough women choose this path––unapologetically ambitious, focused on massive, not modest success, and with them squarely in charge––the world will change.
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It turns out "connecting the world" without purpose creates chaos. It can be (and has been) weaponized.
I'm more convinced than ever that social technologies need purpose and a soul to have a positive impact. It won't come soon enough.
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One of the things I think is missing from the DAO conversation is that to start, they still begin with a leader –– a host, a guide, a facilitator, a creative spirit who wills it to life.
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I think this too is my main takeaway from reading both
#SheSaid
and
#CatchAndKill
. These guys are terrible. Also, I have officially reached my personal limit on Harvey Weinstein-in-a-bathrobe stories.
#gross
This is brutal.
It’s time for Noah Oppenheim and Andy Lack to go.
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2/ It sets up the expectation that “good” men are the ones who will “give” women and POC power. I believed in this solution for far too long. It’s dead wrong.
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I have friend & advisor who for 10+ years has told me what I needed to hear at the moment I needed to hear it. He knows who he is and he's been instrumental in my journey. I hope you find a person like this on your path too. It makes all the difference.
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I can attest this is the best book on entrepreneurship out today. Thank you,
@KevinHart4real
for sharing numbers and strategy. It's rad.
Trying to get to 10weeks.....Lets gooooooooo! If you haven't gotten my book yet you are truly…
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Whoa. It was a record August for
@MightyNetworks
.
Turns out that shipping a product that people want with features they ask for is great for business.
And we're just getting started.
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Aileen Lee Is on the 2019 TIME 100 List | !!!!!!!!!! So well-deserved!
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4/ When I was coming up,
@kleinerperkins
had more amazing women than any other VC firm.
@aileenlee
,
@trae
,
@ekp
,
@JulietdeB1
+ Beth Seidenberg and Mary Meeker (who were intimidating in all the right ways) represented some of my most talented and ambitious peers–women or men.
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If anyone is interested in a step-by-step plan for How to Move a Facebook Group, the team at
@MightyNetworks
wrote this.
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6/ 15 years later, KPCB just raised $600M and found a way to avoid adding a single female GP. General partners (GPs) make all the money in VC. Instead, they dusted off their same excuse from 2004 and pointed to two new female associates as their commitment to diversity.
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4/ If the ask is for women to take on more executive roles but roles that support male leaders––those held up in our industry as superstars––it continues the same patterns, even when those women executives are paid the same as men (which obviously needs to happen).
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7/ If women are going to work 2x as hard for half the credit, at least we should do it with the limited capital available to us. We will make ourselves, our teams, and our investors more money due to minimal dilution because we have to do more with less. That’s not a bad thing.
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I am so impressed with
@HillaryClinton
under these circumstances. Also, for America's sake, let's cancel the last debate. I think we're good
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A beautiful message delivered in complete sentences. Welcome to the new/old United States of America.
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"Webinar Invite" are not words that anyone wants to see in their inbox.
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Tomorrow morning we're dropping our biggest release of the year
@MightyNetworks
.
For it, we chose to focus on engagement. Why engagement? 🧵
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13/ Last point. I'm super grateful to
@emilychangtv
for writing an amazing book to shine light on the dire statistics on this industry. If the solutions were easy, I'd like to think we're all talented enough to have fixed it already. This is hard, but not impossible.
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I'm super grateful for my tribe. I've got some incredible people in my corner who keep me aiming higher, dreaming bigger, and going for it. 🙏
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I want to say a lot of things about the continued takedown stories of female founders running startups as startups.
But they deserve no oxygen.
Onwards. 👊
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Writing well and fast is one of the most underappreciated skills of our current and future economy.
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One of the things I'd like to see before the end of 2021 is
@zoescaman
getting 50,000 followers here.
She is brilliant.
Any of my followers want to help me out? Follow her and, if you see the same thing I see, perhaps tell your followers about her?
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Apparently raising $50M from the largest edtech investor in 2021 and 2x+'ing every metric for
@MightyNetworks
doesn't count.
🚨New from me: Creators Are Mostly Women. Where’s the Money For Women-Led Creator Startups?
Startups with sole female founders have raised just 4.8% of the capital invested in the sector through August, according to The Information’s data
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18/ In the world that’s coming, visionaries and brainiacs are going to come from anywhere and look very different than the last generation of game changing founders. Focusing on today is insufficient.
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8/ And when we win (and with more numbers of us flowing in, the odds are more wins), we can use our capital to fund people that look like us on products, services, and markets that obviously need to exist in the world, given our perspective and life.
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5/ Along these lines, we need to talk about the male superstars of our industry are founders, yet the female ones have never started a company. I’m a huge fan of them, but what do they represent? Women gain power by joining someone else’s “rocketship,” not launching their own.
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True for start-ups too: First they ignore you, then they laugh at you, then they fight you, then you win. Mohandas Gandhi
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7/ Let’s put aside being sued for sexual harassment (which could happen to anyone). Despite marketing themselves as experts in growing “world class teams,” from 2004 to 2019, this firm didn’t grow a SINGLE associate into a GP who could take their firm into the future.
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.
@theinformation
was kind enough to publish an opinion I hold strongly: Content Alone will Kill the Creator Economy.
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I don't know who needs to hear this, but your idea for a community is great. And your future members need it to exist in the world.
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My prediction for what's coming: chaos.
My answer to chaos: build your own world.
Build a list you own.
Build a community that's yours (and your members).
Focus on your 1,000 (or 100) true fans.
Dabble in the public square, but never be defined by it.
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23/ The future is too bright to give up now. But let there to be no doubt. The ones who shift now are the ones who are going to win. Everyone else just looks increasingly sad.
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Not sure if it's because I haven't done a female-focused interview in awhile, but was struck by the questions I was asked:
Was it hard to break into Silicon Valley?
What has been your biggest setback?
What's been your biggest challenge?
I reframed this quickly:
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Joe Biden's energy tonight is so "dad just got home and heard what we did over the last four years while he was at work."
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Unpopular opinion:
You should be building software that makes the world a better place. Purpose matters. Working on exponentially growing networks without a point of view at their core ends poorly.
Don't let skeptics tell you otherwise.
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Appreciating the tributes to Tony Hsieh today. He made an incredible contribution. 💔
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Obviously, I'm biased, but I think
@ljin18
has the best grasp on The Passion Economy as well as how it will evolve from here. 👇
The winning strategy for the companies that will come to dominate The Passion Economy: "Come for the creator, stay for the network."
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16/ A firm that more closely mirrors the population, chooses non-traditional brainiacs with expertise in emerging categories (like
@a16z
has done), or even just shows a glimmer of the courage that’s going to be needed to build the fantastic future we need to survive.
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This made me proud to be an American.
Every minute of Michelle Obama’s 30 minute speech today is worth watching.
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Not expertise.
Not content.
Not a funnel.
Not affiliates.
What was it?
***The rate and frequency of member connections is the best predictor of the success of a course or community business.***
It came down to people meeting each other.
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Startups aren't a family, but they sure as heck aren't a job either. The relationships forged in the struggle, success, and crazy situations you navigate together, well, they are...something. Today, I'm especially grateful for the people who have been on the journey with me.
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When the things that keep you sane keep getting removed...
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Controversial observation: Slack has been the most harmful platform to my productivity.
Maybe killing email wasn't the best idea?
Am I alone here?
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🚨 The largest study of creators EVER was just published. 🚨
What did it find? That a new breed of
#independentcreator
is breaking free of social media and finding success on their own terms.
Read on 👇
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We need a better name for bootstrapping a business. As an entrepreneur, you can control your own destiny today in ways that were impossible even 3 years ago.
Bootstrapping doesn't do this massive innovation justice.
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Strong, effective government and the benefit of taxes need a new PR person.
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RIP Mayfield Bakery & Cafe. You meant a lot to me.
Bacchus Management, the prominent restaurant group behind The Village Pub and Selby's, has closed its Mayfield Bakery & Cafe.
"The impact of the COVID-19 virus and the subsequent shelter-in-place orders have reduced revenues to an unsustainable level."
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8/ I hope the best entrepreneurs of tomorrow’s generation are paying attention (and I think they are).
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Tomorrow I'm going to use "we" rather than "they" to describe those who I don't believe agree with me. I am determined to find common ground
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I see the end of PowerPoint as a communication medium and it cannot come too soon.
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11/ Even better? They are bringing with them the next generation of women in a smarter, savvier, and more public community of fellow investors.
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Focus in the face of chaos will be the most important skill of the 21st century.
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This administration is the 1991 Detroit Pistons. They're good at what they do, but they also play dirty and know the refs won't call them on it.
The answer isn't to play weak & scared. It's to train harder, keep focus, assume they are going to throw absolutely everything at us.
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How about that? I'm grateful that
@firstround
understands
#community
and was one of our earliest investors at
@MightyNetworks
10/ Community is the new moat.
Nearly 80% of founders reported building a community of users as important to their business, with 28% describing it as their moat and critical to their success.
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22/ But there’s a silver lining to this story. I’m more optimistic today that change is here. This is a 60-year-old industry built on 600-year-old power dynamics. I'm okay giving ourselves–women and men–more than a year to shift.
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13/ Fortunately for us (less so for KP's limited partners), every one of those associates I admired back in 2004 has gone on to do incredible things. They are all making money for other people.
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12/ What’s sad is that KPCB was the firm in the best position to show the killer returns possible when you value different voices, especially when trying to predict the future. Instead, they offer a cautionary tale of the decline that comes with choosing the status quo.
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In entrepreneurship, I find myself regularly coming back to what I learned playing D1 field hockey:
Play your own game.
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