I’ve often been vocal about my reservations regarding many Silicon Valley practices, which has been a part of my startup journey. However, I’ve come to recognize that this isn’t an issue confined to the Valley. The entire system seems predicated on a trajectory toward going public, focusing intensely on quarterly results. Miss those targets, and the stock market’s reaction is swift and unforgiving, impacting all shareholders. This short-term perspective can smother the flames of long-term innovation, leading to a pattern where established players eventually stagnate, making room for new ventures to disrupt the status quo. Yet, it’s a cycle that isn’t always about value creation and destruction.

Take a moment to consider the market stalwarts who consistently think with the future in mind, companies like Toyota, Apple, and Berkshire Hathaway. Their ability to focus on and operate with longevity at their core is something to be admired – and has been rewarded by the market, although often it’s no easy feat. What sets these giants apart is their unwavering commitment to their founder’s original vision, an ethos woven into their fabric that persists throughout the decades.

Toyota revolutionized and continually improved manufacturing processes. Steve Jobs had an unwavering commitment to sleek, user-friendly designs. Warren Buffet and the late Charlie Munger held steadfast to their investment strategies despite the whirlwind of external opinions. This adherence to vision over short-term gain has reaped substantial rewards.

Yet, the pressure to prioritize the short term is pervasive, not just in the public markets but also in the private sphere. The entire ecosystem, sometimes subtly, nudges companies toward an exit, focusing on transient value extraction rather than sustainable growth.

It’s with this realization in mind that a few months back, alongside Eric Ries, I embarked on an ambitious project – the Institute For Long Term Thinking or ILTT. Our objective? To equip founders with the tools necessary to build enterprises that can endure the test of time, what we’re calling “mission-controlled” companies.

We chose the term because we believe that neither a singular founder nor investor-driven control guarantees success. Instead, we look to emblems like Apple, Toyota, and Berkshire Hathaway - entities driven by a mission that transcends financial gain or individual ego. These mission-controlled organizations have charted a course true to their founding ethos, and that’s what we aspire to foster at ILTT.

If my words resonate with you, I’d love to hear from you. Maybe you’re interested in joining our email list, participating in our Slack channel, or perhaps you seek a deeper engagement, such as working with our legal team to restructure your company’s documentation with a mission-focused approach. We’re searching for like-minded individuals eager to contribute to this vision. Could this be you? If so, reply here to start a conversation.