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New research on business ventures from Harvard Business School faculty on issues including lifecycle, structure, founder agreements, partnership agreements and the family business.
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Is There a Method to Musk’s Madness on Twitter?

by Christina Pazzanese, Harvard Gazette

Elon Musk's brash management style has upended the social media platform, but was bold action necessary to address serious problems? Andy Wu discusses the tech entrepreneur's takeover of Twitter.

What Does It Take to Safeguard a Legacy in Asset Management?

by Rachel Layne

Diverse hiring, deep research, and a collaborative culture have defined Brown Capital's successful investment approach. But would those qualities endure after its founder retires? A case study by Luis Viceira and Emily McComb explores how the second-largest Black-founded investment firm is preparing for its next phase.

Planning the Future for Harlem’s Beloved Sylvia’s Restaurant

Re: Christina R. Wing

Sylvia’s Restaurant, which celebrated its 60th anniversary in August 2022, is a testament to the values instilled by the matriarch Sylvia Woods. She cultivated a strong community around her soul food restaurant in New York City’s Harlem neighborhood that has continued to thrive, even after her passing a decade ago. Amid business expansions and succession planning, the legacy of Sylvia Woods continues to live on. But as Sylvia’s grandson takes over the business, a new challenge faces him and his family: what should the next 60 years of Sylvia’s look like? Senior Lecturer Christina Wing and Kenneth De'Sean Woods, chief executive officer of Sylvia Woods Inc., discuss the case, “Sixty Years of Sylvia’s.”

Cofounder Courtship: How to Find the Right Mate—for Your Startup

by Julia Austin

Like any other long-term partnership, choosing the right cofounder is a complicated decision with big implications for a venture. Julia Austin offers practical advice for entrepreneurs who are searching for "the one."

Chewy.com’s Make-or-Break Logistics Dilemma

Re: Jeffrey F. Rayport

In late 2013, Ryan Cohen, cofounder and then-CEO of online pet products retailer Chewy.com, was facing a decision that could determine his company’s future. Should he stay with a third-party logistics provider (3PL) for all of Chewy.com’s e-commerce fulfillment or take that function in house? Cohen was convinced that achieving scale would be essential to making the business work and he worried that the company’s current 3PL may not be able to scale with Chewy.com’s projected growth or maintain the company’s performance standards for service quality and fulfillment. But neither he nor his cofounders had any experience managing logistics, and the company’s board members were pressuring him to leave order fulfillment to the 3PL. They worried that any changes could destabilize the existing 3PL relationship and endanger the viability of the fast-growing business. What should Cohen do? Senior Lecturer Jeffrey Rayport discusses the options in his case, “Chewy.com (A).”

Reinventing an Iconic Independent Bookstore

Re: Ryan L. Raffaelli

In 2020, Kwame Spearman (MBA 2011) made the career-shifting decision to leave a New York City-based consulting job to return to his hometown of Denver, Colorado, and take over an iconic independent bookstore, The Tattered Cover. Spearman saw an opportunity to reinvent the local business to build a sense of community after the pandemic. But he also had to find a way to meet the big challenges facing independent booksellers amid technological change and shifting business models. Professor Ryan Raffaelli and Spearman discuss Spearman’s vision for reinventing The Tattered Cover, as well as larger insights around how local businesses can successfully compete with online and big box retailers in the case, “Kwame Spearman at Tattered Cover: Reinventing Brick-and-Mortar Retail.”

Can Bombas Reach New Customers while Maintaining Its Social Mission?

Re: Elizabeth A. Keenan

Bombas was started in 2013 with a dual mission: to deliver quality socks and donate much-needed footwear to people living in shelters. By 2021, it had become one of America’s most visible buy-one-give-one companies, with over $250 million in annual revenue and 50 million pairs of socks donated. Later, as Bombas expanded into underwear, t-shirts, and slippers, the company struggled to determine what pace of growth would best allow it to reach new customers while maintaining its social mission. Harvard Business School assistant professor Elizabeth Keenan discusses the case, "Bee-ing Better at Bombas."

How a Multimillion-Dollar Ice Cream Startup Melted Down (and Bounced Back)

by Pamela Reynolds

A Brooklyn-based ice cream shop was getting buzz, and Disney was pitching a brand partnership. So how did the business wind up filing for bankruptcy? A case study by Thomas Eisenmann and Lindsay N. Hyde examines the rise and fall—and recent rebound—of Ample Hills Creamery.

Being Your Own Boss Can Pay Off, but Not Always with Big Pay

by Jay Fitzgerald

Working for yourself might bring freedom and autonomy, but it increasingly comes with a major risk: low pay. Research by William Kerr explores the shifting sands of self-employment.

5 Qualities That Help Companies Thrive for Decades—Even Centuries

by Sean Silverthorne

What makes a business resilient, agile, and enduring? Geoffrey Jones and Tarun Khanna analyze some of India's most successful companies and offer lessons for leaders everywhere in their book Leadership to Last. Open for comment; 0 Comments.

The Unlikely Upside of Mergers: More Diverse Management Teams

by Lane Lambert

Mergers shake up the status quo at companies and help women and people of color move up the ladder. Research by Letian Zhang mines data from 37,000 deals. Open for comment; 0 Comments.

For Entrepreneurs, Blown Deadlines Can Crush Big Ideas

by Rachel Layne

After a successful launch, entrepreneurs struggle to anticipate the complexities of product upgrades, says research by Andy Wu and Aticus Peterson. They offer three tips to help startups avoid disastrous delays. Open for comment; 0 Comments.

One More Way the Startup World Hampers Women Entrepreneurs

by Michael Blanding

Early feedback is essential to launching new products, but women entrepreneurs are more likely to receive input from men. Research by Rembrand Koning, Ramana Nanda, and Ruiqing Cao. Open for comment; 0 Comments.

A Family Business at a Crossroads: Scaling and Succession

Re: Christina R. Wing

In 2000, Rohit Gera turned his family’s boutique real estate development firm in Pune, India, into a dynamic innovator in housing solutions for urban Indian families. Today Gera Developments stands at a crossroads, with Gera planning the end of his managerial career. How should the family think about scaling the business? And, should the company seek a successor to lead those efforts from inside or outside the family? Senior Lecturer Christina Wing and case protagonist Rohit Gera discuss the family business and the crucial decisions it faces in the case, “Gera Developments: Leadership at a Crossroads.” Open for comment; 0 Comments.

Dog Eat Dog: Measuring Network Effects Using a Digital Platform Merger

by Chiara Farronato, Jessica Fong, and Andrey Fradkin

With heated debate over antitrust regulation of online platforms, this study finds that when a larger platform acquired its greatest competitor, users were not better off with a single platform compared with two competitors, despite marked efficiency improvements experienced by the acquiring platform.

Biased Sampling of Early Users and the Direction of Startup Innovation

by Ruiqing Cao, Rembrand Koning, and Ramana Nanda

New ventures catering to female customers should be aware that the underrepresentation of women among early users on digital platforms can reduce the venture’s growth and chances of survival. As a result of gaining fewer early users, these ventures reduce future product development and are less likely to raise VC funding.

Short-Termism, Shareholder Payouts, and Investment in the EU

by Jesse M. Fried and Charles C.Y. Wang

Shareholder-driven “short-termism,” as evidenced by increasing payouts to shareholders, is said to impede long-term investment in EU public firms. But a deep dive into the data reveals a different story.

COVID Not Slowing VC Investment

by Danielle Kost

Despite the economic uncertainty, most venture capitalists expect their investments to outperform major equity indexes and are still funding new endeavors, says Paul Gompers. Open for comment; 0 Comments.

Does Venture Capital Attract Human Capital? Evidence from a Randomized Field Experiment

by Shai Bernstein, Kunal Mehta, and Richard Townsend

Using a randomized field experiment conducted on a large online search platform, this study illustrates how investments by top venture capital investors attract potential employees and improve the pool of candidates available for the startup.

Recessions Push Some Entrepreneurs to Launch Too Soon

by Sean Silverthorne

Research by Maria Roche looks at how past economic downturns forced job-insecure, high-tech entrepreneurs to rush their ventures to market. Will COVID-19 do the same? Open for comment; 0 Comments.