This podcast episode interviews Uri Levine, co-founder of Waze, about navigating crises in startups. Levine categorizes crises into cash crises (e.g., loss of major customers or funding) and product-market fit crises (e.g., regulatory changes or disruptive competition). He emphasizes the importance of founders taking full responsibility, acting decisively, and never giving up, even when facing significant challenges. The episode offers practical advice on assessing crisis impact, extending runway through cost-cutting measures, and deciding whether to pivot or shut down. Founders can learn to proactively manage crises by maintaining sufficient cash reserves and fostering transparent communication with their teams.
