After four and a half intense and wonderful years as CEO of Groupon, I’ve decided that I’d like to spend more time with my family. Just kidding – I was fired today. If you’re wondering why… you haven’t been paying attention. – Andrew Mason
One thing I just don’t understand is why founders of companies don’t acknowledge their strengths and weaknesses. Take a look at Facebook, Yahoo, YouTube and now Groupon as prime examples, just because you had a great idea and grew it to a popular company doesn’t immediately qualify you to run a billion dollar empire. You made hundreds of millions, great, now step aside and allow an experienced proven CEO to lead your company. Google’s founders did, and not only did Google survive, but it is thriving.
We have all seen the crazy side of Andrew Mason, we’ve all seen the YouTube video of him in his underwear doing yoga. How in the world does anyone think that is a good idea? Why did he ignore everyone when they said to take it down and cut it out? One thing that is clear is that my generation is fully of smart, ambitious people that are leaving their mark on this world, but the arrogance is astonishing. We saw the fire storm for years over Facebook, Mark’s own employees where begging him to step down, he has remained. The stock price is still horrible. If I were him I would find a replacement, announce my resignation and watch my stocks skyrocket making me another cool $50 million. Instead he is holding on to a position he shouldn’t be in in the first place.
Remember the name of the guy who started MySpace? Neither do I, it is Tom something is all I remember. He was smart, grew the company to be a powerhouse and then walked at the perfect time. He didn’t try and hold on, he made his mark and moved on … With respect from his employees and others.