Spencer Rascoff

It increased the industry's willingness to syndicate listings to sites like Zillow. And it turned out it was very similar to 2001 with online travel. 2001, after 9-11, accelerated the pace with which consumers shifted their behavior from offline to online purchases. It accelerated the embrace of hotels and airlines of online distribution. So it sucked.

It increased the industry's willingness to syndicate listings to sites like Zillow. And it turned out it was very similar to 2001 with online travel. 2001, after 9-11, accelerated the pace with which consumers shifted their behavior from offline to online purchases. It accelerated the embrace of hotels and airlines of online distribution. So it sucked.

I'm not glad that it happened, these two downturns, but... In some weird way, it actually made both those companies more successful even though it was a really challenging time to manage through.

I'm not glad that it happened, these two downturns, but... In some weird way, it actually made both those companies more successful even though it was a really challenging time to manage through.

So when we started the company, I was CMO, Chief Marketing Officer, and my co-founder was CEO. And then I think it was about a year into the company's history, basically, once we raised the Series A and it looked like we were probably going to make it, then he stepped back and became chair of the board and I became CEO. Then I was CEO for, I think, 10 or 11 or 12 years.

So when we started the company, I was CMO, Chief Marketing Officer, and my co-founder was CEO. And then I think it was about a year into the company's history, basically, once we raised the Series A and it looked like we were probably going to make it, then he stepped back and became chair of the board and I became CEO. Then I was CEO for, I think, 10 or 11 or 12 years.

Then when I retired from that, he stepped back in from chair to move back to CEO for a couple of years. He just stepped down and one of my former colleagues is CEO. It's quite helpful for a CEO to have played many roles for a while there. For that first year, I was the CMO. I was the CFO, I was the COO, I was head of industry relations. I sort of had lots of jobs just as I did at Hotwire.

Then when I retired from that, he stepped back in from chair to move back to CEO for a couple of years. He just stepped down and one of my former colleagues is CEO. It's quite helpful for a CEO to have played many roles for a while there. For that first year, I was the CMO. I was the CFO, I was the COO, I was head of industry relations. I sort of had lots of jobs just as I did at Hotwire.

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.

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.