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Stepping Up and Stepping Down
Sometimes stepping up to the plate to do what is right means stepping down.Â
Over two weeks ago I initiated a conversation with Paul Allen about stepping down as CEO of 10Speed Media. Why would I do such a things when things are going so well? 10Speed Media is a winner. This company will be huge someday and the exit will be huge. Its by far Provo Labs best bet. Herein lies the issue.  This business really needs a CEO who has been around the block before. Someone who has raised a lot of capital. Someone who has had a large exit. Someone who knows what it takes to get a business from $0 to $100 million in three years. Frankly, that person is not me. In order to see the maximum value out of my stock I have agreed to swallow my pride and turn over the keys to someone else. That said, I will still play an active role in the business moving forward. I have agreed to stay on in some capacity for the foreseeable future to help in a number of areas as well as evangelize the business to the infomercial and affiliate industries. I will also be working with several other Provo Labs companies on strategy and business development.
Beyond 10Speed Media and Provo Labs, what’s next for me?  At the moment that is unknown. I have considered several other start ups and thought about going back to consulting. I’ve even been considering a PhD (I teach as an adjunct professor at Westminster College). Next week I’m going on my first vacation in a long time and frankly I can’t see beyond that. I just need some time off to think, relax and play with my kids.
Overall its been a great ride - one for the books. Stay tuned for cool and exciting things.
“Frankly, that person is not me. In order to see the maximum value out of my stock I have agreed to swallow my pride and turn over the keys to someone else.”
For the essence of sincere blogging, see above. Nice post, Chris.
Left by Blake Snow on 07/26/2006Chris,
Good explanation of your thoughts and where you are. Although if you go get a PHD, I’ll probably have to kick your butt!
Hope everything works out for you. Maybe you should come work for Doba???
Left by Jeremy Hanks on 07/28/2006Jer:
You’re the man. Let’s get lunch when I get back from Montana.
Left by ctknud on 07/28/2006Chris -
It takes an incredibly talented and honest person do do something like that. Best of luck to you.
Russell Page
Left by Russell Page on 07/29/2006