Korva is a scroll of the internet’s best ideas.
Why founders care
Nobody in the world cares as much about the company as its founder does, and that is the answer to imposter syndrome. Running a very large organization raises a voice asking whether this is the right person to lead it, and the energy of having built something from nothing settles it, independent of expertise or experience.
Learning to lead
Nubank's CEO had never managed anybody before starting the company, then found himself running one of the largest banks in Latin America. He hired a lot of external, more experienced managers, then realized the organization needed what he had already brought: clear leadership, motivation, and a willingness to dream very big and get people excited about something that feels impossible at the beginning.
Pushing enough
After 13 years, the answer to whether he is pushing too hard is that he is pushing enough. Pushing the boundaries of what the company is ready to do is the job, and the organization pushes back if needed.
Why do accomplished founders feel like imposters?
Psychologists Pauline Clance and Suzanne Imes described the impostor phenomenon in a 1978 paper based on high-achieving women. They found that many felt they had fooled others into thinking they were competent, despite clear evidence of their achievements. Later research found the same feeling across genders and professions. Surveys of workers have found that a large share report experiencing it at some point.
Why might founders care more than hired managers?
Economists Michael Jensen and William Meckling published a 1976 paper on how the interests of owners and hired managers can diverge. Managers who do not own the company bear little of the loss if it fails and capture little of the gain if it succeeds. Founders usually hold large ownership stakes and often tie their reputations to the company. The paper became one of the most cited in corporate finance and introduced the term agency costs.