214: Nailing Product-Market Fit and Building a Successful Startup, With Legendary VC and Wealthfront CEO Andy Rachleff

The Foundr Podcast with Nathan Chan

Andy Rachleff is not just a product expert; he literally coined the term “product-market fit.”

Wealthfront CEO, former VC backing companies such as eBay, Uber, and Twitter, and technology entrepreneurship instructor at the Stanford Graduate School of Business, Rachleff has a wealth of knowledge on creating and scaling powerful companies. I was excited to have the chance to pick his brain on everything from product-market fit, to how he started his company Wealthfront, to how he hires the best of the best to join his team.

In this interview, you will gain access to a true master, who has enjoyed a long career of investing in legendary companies and now gives back to today’s entrepreneurs and investors. Rachleff started his company Wealthfront, an automated investment service that manages $11 billion in assets, as a way to perform a social good by democratizing sophisticated financial advice. In our discussion, he was kind enough to divulge some of his wins and losses and top lessons learned in his storied entrepreneurial career. Enjoy!

Key Takeaways

• How to know when you’ve reached product-market fit
• The process Rachleff follows every time he builds a new product
• How to know when it’s the right time to launch a new product (or let go of a failing one)
• How to maintain a close-knit startup culture as the company grows
• Why perseverance does not lead to success in technology (and what does)
• What type of people he looks for and the three biggest things that make people to want to join his team

Key Resources From Our Interview With Andy Rachleff

• Follow Andy on Twitter
• Learn more about Wealthfront here