Smart ≠ Wise
Leadership is always on our mind, and the recent New York Times article titled "I Was an S.V.B. Client. I Blame the Venture Capitalists" by Elizabeth Spiers provides an interesting perspective from a technology CEO who was affected by the recent Silicon Valley Bank failure. Ms. Spiers, a contributing Opinion writer for the New York Times, is a journalist and digital media strategist.
In the article, Ms. Spiers shares her experience as a former client of Silicon Valley Bank, a leading venture capitalist firm. She writes about her frustration with the firm's lack of support and the venture capitalists' obsession with "unicorn" companies that promise huge returns but often fail to deliver.
Ms. Spiers' article raises an essential point about leadership: the importance of taking responsibility for one's actions. As a leader, whether in a startup or an established company, it's easy to blame external factors for failures. However, Ms. Spiers reminds us that ultimately, leaders must take ownership of their decisions and their consequences.
Spiers highlights the need for leaders to have a long-term vision rather than a short-term focus on quick profits. Venture capitalists may be eager to fund the next big thing, but as Ms. Spiers points out, the rush to invest in unicorns can lead to a lack of due diligence and a failure to support promising companies that may not have instant blockbuster potential.
I can't help but wonder if the issues Ms. Spiers raises are unique to the world of venture capital or if they are indicative of larger problems in leadership across all industries. Are leaders too focused on short-term gains and neglecting long-term planning? Are they willing to take responsibility for their decisions, or are they quick to blame external factors? It’s one thing to lead when things are going well. It’s quite another to lead effectively when things get tough.
Ms. Spiers' article serves as a reminder that leadership requires a combination of foresight, responsibility, and a willingness to learn from failures. By keeping these qualities in mind, leaders can help their companies grow and succeed over the long term. It’s not enough to be smart anymore, especially if you’re leading a team or organization. You have to tap into and exercise wisdom and responsibility too.
