Entrepreneurial Thought Leader Lecture

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Bravely Take On the Big Players - Hugh Martin (Pacific Biosciences)
Date: 1/14/2009
Length: 1 minutes
Speaker(s): Hugh Martin
Sources: Stanford Technology Ventures Program
Description: The more dominant a single brand is in the marketplace, the easier it is for an innovator to compete with them. So says Hugh Martin, Chairman and CEO of Pacific Biosciences, who headed the start-up that once competed with dominant
telecoms like Nortel, Lucent, and Alcatel. His reasoning? Monolithic entities in a sector get lazy, lose touch with their customers, and become overly confident with their price point, creating tremendous opportunities for competition. Upstart
entrepreneurs should never be afraid to slay a giant.

Other Videos in Series

Believe in the Value of Investors - Hugh Martin (Pacific Biosciences)
Hugh Martin
1/14/2009
Summary: Hugh Martin, Chairman and CEO of Pacific Biosciences, advises entrepreneurs to avoid a common pitfall when it comes to the entrepreneur/VC relationship: Instead of viewing your board as an obstacle to be managed, think of them as
a valuable resource and catalyst for opportunity. If you pick the right venture capitalists, they can easily be the greatest asset that your growing business can have. Watch More
Bravely Take On the Big Players - Hugh Martin (Pacific Biosciences)
Hugh Martin
1/14/2009
Summary: The more dominant a single brand is in the marketplace, the easier it is for an innovator to compete with them. So says Hugh Martin, Chairman and CEO of Pacific Biosciences, who headed the start-up that once competed with dominant
telecoms like Nortel, Lucent, and Alcatel. His reasoning? Monolithic entities in a sector get lazy, lose touch with their customers, and become overly confident with their price point, creating tremendous opportunities for competition. Upstart
entrepreneurs should never be afraid to slay a giant. Watch More
Building Resistance to Acquisition - Hugh Martin (Pacific Biosciences)
Hugh Martin
1/14/2009
Summary: To build an enterprise that can surely go the distance, Pacific Biosciences' Chairman and CEO Hugh Martin suggests a short list of strategies. Among them, the board must have confidence in a strong management team uniquely
qualified to make the decision to sell. In addition, don't staff your board with young VC's, as they are self-centeredly building a reputation and seeking quick and profitable hits. Also, the enterprise should strive to take money from funds
that are stable and flush, else the firm backing them will be more likely to sell. This combination, advises Martin, will make a board less likely to cave. Watch More
Don't Prolong Your Exit - Hugh Martin (Pacific Biosciences)
Hugh Martin
1/14/2009
Summary: If you've decided to leave a large company in pursuit of other ventures, make it a clean break, advises Hugh Martin, Chairman and CEO of Pacific Biosciences. He cites a personal anecdote of one company who tried to reverse his
decision through a laborious series of meetings with the executive team, and the disastrous results that ensued. If you plan to leave an organization, do so quickly and painlessly. Watch More
Hiring the Best in Human Resources - Hugh Martin (Pacific Biosciences)
Hugh Martin
1/14/2009
Summary: Chairman and CEO of Pacific Biosciences Hugh Martin was quick to hire a top-notch VP of Human Resources - despite the strong objection of his board and his investors. Martin stands behind his unusual decision, and largely credits
it with the company's success. PacBio's need to hire and integrate a highly-skilled workforce in a short period of time mandated the resources, says Martin, who hired over 1200 people in three years - many of whom were lured from the field's
largest competitors. Watch More
Overcommunicate Frequently - Hugh Martin (Pacific Biosciences)
Hugh Martin
1/14/2009
Summary: Chairman and CEO of Pacific Biosciences Hugh Martin says that his employees deeply enjoy the company-wide weekly meeting where he personally addresses all employees and shares information about transparency, strategies, and other
big-picture thinking. This open, frank, and consistent communication, says Martin, is essential to give employees context and to make them feel like critical stakeholders at every turn. Watch More
People are Everything in the Start-Up - Hugh Martin (Pacific Biosciences)
Hugh Martin
1/14/2009
Summary: More important than market, technology, or timing, Hugh Martin, Chairman and CEO of Pacific Biosciences, insists that any groundbreaking company is only as good as its team. Interview aggressively and make your staff want to stay
there by offering respect, a hospitable culture, and great rewards. Watch More
The Benefits of Stockpiling Cash - Hugh Martin (Pacific Biosciences)
Hugh Martin
1/14/2009
Summary: Hugh Martin, Chairman and CEO of Pacific Biosciences, is proud to point out that his previous enterprise, ONI Systems, was the first to be taken IPO after the dot-com crash of 2000 - and that they raised over a billion dollars in
just a few short months. Maximizing the cash value of the company was a huge benefit to its longevity, says Martin, and being conservative with their holdings was an inexhaustible asset. Watch More
The Impact of a CEO - Hugh Martin (Pacific Biosciences)
Hugh Martin
1/14/2009
Summary: John Sculley, historic CEO of Apple, and Bill Gates, CEO of Microsoft, both demonstrate the impact that effective leadership can have on business and technology. Both of these large companies missed the ground-floor opportunities
of the Internet, says Hugh Martin, Chairman and CEO of Pacific Biosciences. But there is a lesson to be learned in how each CEO responded. Apple mostly ignored the Internet boom, says Martin, and faced years of weak financial footing as a
result. But Microsoft turned the company around to establish a deeply-rooted Internet presence - particularly its web browser Internet Explorer - in just three days. Martin uses this anecdote to demonstrate how essential leadership can be in
corporate success. Watch More

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