The Memo: Going founder mode

Hello, Memo readers!

Yet another new buzzword has hit the world of startups, dividing the already fractious Silicon Valley community over the best way to manage a growing company.

Noted entrepreneur Paul Graham recently published an essay detailing the differences between “manager mode” and “founder mode” — claiming with regard to the latter that “business schools don’t know it exists.”

In his essay, Graham recounted an experience he had listening to Airbnb (ABNB-6.06%) founder Brian Chesky speak at a conference held by Graham’s startup accelerator Y Combinator.

“As Airbnb grew, well-meaning people advised [Chesky] that he had to run the company in a certain way for it to scale,” Graham recounted. “Their advice could be optimistically summarized as ‘hire good people and give them room to do their jobs.’ He followed this advice and the results were disastrous.”

Chesky and Airbnb were able to rebound, according to its founder, by instead emulating the leadership style of supposedly the ultimate founder: Apple’s (AAPL+0.05%) Steve Jobs.

While the essay garnered praise from many among the Silicon Valley elite, it also was almost immediately subject to mockery from people online, many of whom have grown weary of the endless strings of buzzwords and the tech industry players who use them. Read more about the founder vs. manager mode debate.

Bill Gates says retirement ‘sounds awful’

Despite co-founding one of the most successful companies in the world, Bill Gates says he isn’t ready to stop working.

The Microsoft (MSFT-1.78%) co-founder said he hopes to continue working like his friend and fellow billionaire Warren Buffett, who still serves as chairman and chief executive of the firm he co-founded, Berkshire Hathaway (BRK.A-0.36%), at the age of 94.

If his health allows for it, Gates (68) said he wants to keep “working at this level” for “at least 10 years.” But, added that he hopes “it’ll be more like 20 or 30.” Read more about his view on retirement.

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Send questions, comments, and rest mode inspo to talk@qz.com. This edition of The Memo was written by Madeline Fitzgerald, Britney Nguyen, and Morgan Haefner.