Spencer Rascoff

I think the benefit of that is you have a lot more empathy for your direct reports and you become more well-rounded because you have a broader perspective on things. And I think that helps you make better decisions and helps you manage and motivate your team better.

No, not necessarily. Well, it was sort of implied when we started the company. I don't think it was explicit. My co-founder had taken Expedia public previously and didn't feel the need or want to run another company at that point in time or take it public. So the plan all along was essentially once we got on a good path and it looked like things were...

No, not necessarily. Well, it was sort of implied when we started the company. I don't think it was explicit. My co-founder had taken Expedia public previously and didn't feel the need or want to run another company at that point in time or take it public. So the plan all along was essentially once we got on a good path and it looked like things were...

going to be okay, then he would move into that role and I would step into the CEO role. So that was the expectation. It wasn't explicit. It was sort of implicit. And that's how it played out.

going to be okay, then he would move into that role and I would step into the CEO role. So that was the expectation. It wasn't explicit. It was sort of implicit. And that's how it played out.

I tend to lead by consensus and view everything the role of the CEO as more of a coach than a boss. So I don't really feel like it takes on that much more responsibility or stress. It's more, the CEO is the air traffic control that's trying to get everybody to work together, keep them motivated and coordinate from different parts of the organization.

I tend to lead by consensus and view everything the role of the CEO as more of a coach than a boss. So I don't really feel like it takes on that much more responsibility or stress. It's more, the CEO is the air traffic control that's trying to get everybody to work together, keep them motivated and coordinate from different parts of the organization.

So I never really felt like, wow, now heavy weighs the crown. You're the CEO and all eyes on you or whatever. I think if I managed that way, then maybe I would have felt that way. But that wasn't really how I managed. I tried to be a consensus builder and manage it as a team rather than giving directives.

So I never really felt like, wow, now heavy weighs the crown. You're the CEO and all eyes on you or whatever. I think if I managed that way, then maybe I would have felt that way. But that wasn't really how I managed. I tried to be a consensus builder and manage it as a team rather than giving directives.

It does weigh a little more. But like, I mean, I remember the meeting in 2008 where we did layoffs. It sucked. I lost sleep over it. It was brutal. But frankly, I'm pretty sure that my direct reports felt equally crappy about it and had all the same stress because, as I say, the way I managed was, hey, we're all running this company together.

It does weigh a little more. But like, I mean, I remember the meeting in 2008 where we did layoffs. It sucked. I lost sleep over it. It was brutal. But frankly, I'm pretty sure that my direct reports felt equally crappy about it and had all the same stress because, as I say, the way I managed was, hey, we're all running this company together.

My title might be CEO and your title might be CTO and your title might be CMO, but we're a leadership team together. So... We all should feel responsibility for things. So yes, I think it's a little bit more as CEO, but I'm not sure it's that different, at least the way we ran the company. There, see, I just did it.

My title might be CEO and your title might be CTO and your title might be CMO, but we're a leadership team together. So... We all should feel responsibility for things. So yes, I think it's a little bit more as CEO, but I'm not sure it's that different, at least the way we ran the company. There, see, I just did it.

I just said subconsciously the way we ran the company, not the way I ran the company.

I just said subconsciously the way we ran the company, not the way I ran the company.

So about five years earlier, maybe four, four years earlier, when I was still CEO of Zillow, I moved from Seattle to Los Angeles. I've been in Seattle for 15 years and I wanted to be in Los Angeles because my parents were there. My wife's parents were there. And we needed to move closer to home where we both grew up, which is Los Angeles.

So about five years earlier, maybe four, four years earlier, when I was still CEO of Zillow, I moved from Seattle to Los Angeles. I've been in Seattle for 15 years and I wanted to be in Los Angeles because my parents were there. My wife's parents were there. And we needed to move closer to home where we both grew up, which is Los Angeles.

So for several years, for three or four years, I was commuting from LA to Seattle every single week. That was hard. That was very exhausting. And so by 2019, I started the company. I'd taken it public. I'd got its profitability. I got it to 20 billion market cap. I had launched these new businesses and felt like I accomplished everything I hoped to accomplish there. And I was tired of commuting.

So for several years, for three or four years, I was commuting from LA to Seattle every single week. That was hard. That was very exhausting. And so by 2019, I started the company. I'd taken it public. I'd got its profitability. I got it to 20 billion market cap. I had launched these new businesses and felt like I accomplished everything I hoped to accomplish there. And I was tired of commuting.

So it seemed like a good time to retire from that role. So that's why I stepped down in 2019. And it was a seamless transition because my co-founder, who had been chairman all that time, just stepped in as CEO. So easy squeezy.