In today’s episode of The Startup Chat, Steli and Hiten talk about remote work or distributed work.
The topic of having remote or distributed teams is a hot one in the startup world. It is common for some startups that implement remote work policies to see increased productivity, efficiency, and fulfillment from their employees. However, the reverse can be the case when a remote team is not managed properly
In this week’s episode, Steli and Hiten talk about having a remote work or distributed work, what the workforce could look like in the future, how the business landscape has changed and much more.
Time Stamped Show Notes:
00:00 About today’s topic.
01:44 Why this topic was chosen.
02:10 One side of the trend line.
04:34 Another side of the trend line.
06:40 What the workforce could look like in the future.
07:31 How we’re going to get better at managing remote teams.
08:16 Why the growth rate of distributed companies is going to play a bigger role in the future.
08:56 Companies that have had success being fully remote.
09:43 How the business landscape has changed.
10:37 How the future of the workforce could look like.
3 Key Points:
It’s so difficult to hire from a local areaWe’re going to find and learn how to hire productive team members no matter where they areThe growth rate of distributed companies is going to play a bigger role in the future.
Steli Efti: Hey everybody. This is Steli Efti.
Hiten Shah: And this is Hiten Shah, and today on The Startup Chat, we're going to do first of a few, and I know we've talked about this before at some point too, but I think this is a trend, and so the topic is about remote work, or what some are calling distributed work, and we just wanted to talk about it as a trend and talk about why it's so important right now and why so many people are talking about it. And, on top of that, I'm doing some research on the topic, by creating a report with my team at FYI, and we're partnered with a company called [Mirro] to do that, and before we even begin, I did want to give one shout-out because there's a newish podcast and blog by Matt Mullenweg from Automatic, and it's called Distributed, and it's at distributed.blog. One of the things that Matt, I believe, really believes is that he likes calling it distributed work, not remote work. I think he's got the pet peeve similar to mine of, put it as self-funded instead of bootstrapped.
Steli Efti: Yup.
Hiten Shah: But he's really talking about what most of us have been talking about as remote work. So distributed work, remote work, this is a trend. I know you've been doing it for years. I've been doing it for about 16 now. Let's talk about it.
Steli Efti: Yeah. And specifically, I think I'd love to talk about why it's seeming to be bubbling up even more so than I've seen ever before and becoming more and more of a topic. I see a lot of debate area kind of an echo chamber of ... Just recently there have been a bunch of articles about more and more startups leaving the Bay area or more and more startups starting to hire more aggressively remotely. I think recently there were big news that Stripe said their next big hiring hub is going to be distributed or remote, right?
Hiten Shah: Yup.
Steli Efti: And that was kind of a big announcement, for a unicorn startup to say that, that was, I think, traditionally very much based on setting up these large offices, right, and headquarters. And, so, I wanted to talk about why this is a trend and why I don't think it's going to die down, right? So the trend part on my end, from my perspective, is just that ... I mean, it's just like everything else. You go through cycles, but the trend plan is definitely going up in the sense that there's a bunch of peop...