This podcast episode interviews Uri Levine, Waze co-founder, about navigating crises in startups. The discussion categorizes crises into cash crises (e.g., loss of funding or major clients) and product-market fit crises (e.g., regulatory changes or disruptive competition). Levine emphasizes the importance of swift, decisive action in crises, including transparent communication with the team and potentially offering equity incentives to maintain morale. He advises founders to always strive for 18 months of runway to weather inevitable storms and to prioritize problem-solving over clinging to initial solutions. The episode concludes with advice on pivoting, emphasizing the need to re-validate the problem and assess whether the company possesses the resources and team commitment to succeed in a new direction.
