INSTANT MBA: How "Thriftiness" Drives Innovation

Matthew Dornquest

Photo: By crashplan on YouTube

Today’s advice comes from Code 42 CEO and cofounder Matthew Dornquast’s interview with The Line, printed at”There’s another thing that we have in our DNA … and it does not exist everywhere. It’s this sort of common-sense thriftiness of, ‘I am going to find a way. I am going to constrain my money.’ I would say that this is the only good thing that came out of not having venture capital. It forced a thriftiness on us, and that thriftiness drove innovation to figure out how to solve this in ways that reduce cost.”

Dornquast founded software firm Code 42 just as the dot-com bubble burst. He and his colleagues decided to focus on the thing they did best: Data backup.

The concept of “thriftiness” percolates the company. For example, he said, instead of pouring money into pure marketing initiatives, he maintains a broader view of what marketing can be. He doesn’t compartmentalise his office’s functions, instead believing they all work together to create a single identity.

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