Mr. Varun Khaitan's speech, and "brothers" as startup founders

I watched Mr. Varun Khaitan's speech at Urban Company's IPO ceremony.

Clearly overwhelmed with emotions, he called his co-founders "brothers in crime". It was a heart wrenching moment. Relatable for any founder; perhaps even surreal. But more than anything, I found it to be the most revealing "secret" for the company's success. (I know it sounds clichéd, but I mean it. Clichés are clichés for a reason).

A lot of people don't realise it, but the most important and decisive factor which literally determines the fate of a company isn't the market. It's not the opportunity either. Neither it is the product, the technology, the investors, or even the customers. The most important factor (outside luck, of course), which decides where a startup will go - is the quality of relationships the founders have amongst themselves. Everything else comes later. What 'people at the table' feel about each other as they're building the 'dream', basically decides whether it can, or will someday come true.

I started my first startup as a freshman in college. By the time we were graduating, we literally had a multi crore company in our hands. Bootstrapped. Never raised money. But our customers, numbers, money, future.. all looking great. Yet as we moved forward, it all came apart. Why? Because despite all the good that was going on, one of my co-founders and I unfortunately couldn't see eye to eye. I don't know what it was, but we just couldn't work together. We were both great at what we did, sure. But our personal relationship made work arduous and 'not fun'. And then came the end. As it always does, I think.

And it's not just me, of course.

I remember reading 'Losing the Signal', the biography of Blackberry (Extraordinary book!). Contrary to what people think, the real reason why Blackberry imploded was not that it didn't know "technology". Blackberry 'invented' smartphones before Apple, and instant messaging before Whatsapp. It literally "created" two major tech trends of global importance, one after the other. It definitely knew technology. And then it controlled half the entire smartphone market of the world at one point as well. So it knew business, too.

The real reason why Blackberry fell wasn't due to the basic factors which people usually come up with, it was the soured relationship between its two brilliant co-CEOs, Mr. Jim Balsillie and Mr. Mike Lazaridis. A lot happened which drove them away. Following which they worked together, but only like two scorned lovers in an unhappy marriage. Tragically, the whole house burned down in no time.

And why would it not?

In the early stages, you're literally spending 'all' the waking hours together as you build the dream. The "relationship" is all you have. And what most don't realise, is that the "relationship" is indeed all you have, even in the later stages. Everything else is an outcome of that.

This also explains why there are a lot of "brothers" behind succcessful startups. It's not a coincidence.

Urban Company's founders at its IPO.

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