Invest Like The Best
Episode 249 Building The Local Graph
Invest Like The Best

Episode 249: Building The Local Graph

Invest Like The Best

Episode 249

Building The Local Graph

Sarah Friar is the CEO of Nextdoor. We cover what excellence looks like in a number of different executive roles, the lessons Sarah ported over from her time as an equity analyst, and how Nextdoor is fostering connections between people and businesses in their local areas.

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[00:03:03] - [First question] - What makes an excellent equity analyst

[00:05:51] - Things Sarah does differently as an operator because she was an investor

[00:08:29] - Key factors that make a great CFO

[00:09:31] - The role of the CFO in regards to capital allocation as a company grows

[00:11:50] - What convinced her to join Salesforce and Square

[00:14:45] - The initial spark and appeal that led her to join Nextdoor

[00:17:35] - Existing problems with ‘community’ and how they approach fixing them

[00:21:36] - Interesting and compelling data points about in-person interactions

[00:23:54] - Network density as a driving factor of product quality

[00:26:43] - What gives Nextdoor a unique angle against some of its existing competitors 

[00:28:51] - Thoughts on platform leakage and user retention

[00:30:57] - Successful strategies for deploying Nextdoor in a new country

[00:35:32] - Having a feed and trying to avoid creating echo chambers

[00:37:04] - Some of the biggest mistakes they’ve made while trying to grow

[00:38:49] - Options for a business model and thoughts on advertising 

[00:43:25] - The importance of scale, advertising, and their relationship dynamic

[00:45:55] - Ways she’s learned to effectively steer the businesses strategy

[00:49:48] - Why she doesn’t like titles 

[00:51:07] - Key levers that will allow Nextdoor to succeed in the future

[00:53:35] - How advertisers evaluate platforms like Nextdoor compared to Google or Facebook

[00:57:19] - What a successful board member looks like and how she’s learned to be one

[00:59:34] - Leading with transparency and empathy

[01:02:00] - An overview of what Ladies Who Launch is and what they do

[01:03:57] - Way to educate our children about finance and encourage financial literacy

[01:07:51] - Making your platforms welcoming and guiding users away from conflict

[01:10:30] - The kindest thing anyone has ever done for her 

Building The Local Graph

Introduction

Patrick
My guest today is Sarah Friar, the CEO of Nextdoor, which connects people in local neighborhoods together. Sarah's CV sparkles with impressive achievements and interesting businesses. And we spent a lot of time in this conversation thinking through what excellence looks like as a CEO, CFO, equity analyst and board member. The rest of our discussion is focused on Nextdoor and how the soon to be public business is fostering connections between people and businesses in their local areas. I do this podcast so I get to meet and learn from people like Sarah. I could have talked to her for hours. I hope you enjoy this great conversation with Sarah Friar as much as I did.

Excellence in Executive Roles

Patrick
So Sarah, I was trying to think of a fun way to begin our conversation that respects your very unique CV. You were an equity analyst at Goldman, so you have an investing background. You were a CFO, you're a board member at Walmart and Slack. You're the CEO of Nextdoor that's going public. You've got this wild smorgasbord of experience. And so I thought it'd be fun to open with asking what excellent means in each of those categories to you. And I'll start, maybe I'll go chronologically and I'll go all the way back to your equity analyst days. What do you think makes an excellent equity analyst?

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