What is a Board of Directors For? | Mike Olson | Monktoberfest 2023
Technologists founding companies often focus on technology, products, co-founders, teams, customers, and markets, yet theyΒ ...
Cofounder, Cloudera
Search every verified Mike Olson interview, podcast appearance, and on-the-record quote β each transcript cross-checked by AI and human review to confirm speaker identity. Mike Olson, co-founder and former CEO of Cloudera, has been speaking publicly about the role and responsibilities of corporate boards of directors, drawing on his experience as a founder and investor. In a December 2023 talk at Monktoberfest, Olson described a board of directors as an "adjunct leadership team" whose primary responsibilities are strategic, while management handles tactics. He advised that founders should seek board members they like and trust, noting that a good board can be a major asset and a bad board a major drag. Olson also emphasized the importance of directors and officers insurance and recommended quarterly meetings as often enough, with the ability to convene the board as needed. In earlier appearances, Olson discussed the evolution of big data, cloud computing, and data privacy. He described Cloudera as the first company focused on big data for the enterprise, adapting technologies from consumer internet companies for use by banks, hospitals, and insurance companies. Olson has argued that the General Data Protection Regulation (GDPR) in Europe will be followed by similar privacy legislation in the United States, and that organizations should secure their data, set policies, and monitor compliance regardless of where data is stored. He has also expressed concern about large companies losing sight of their consumers, stating that businesses should aim for mutually beneficial, long-term relationships rather than simply extracting value.
“Everybody I know is by contrast is remarkably passive about a Board of Directors... I think the reason that people don't take this as a real serious responsibility is they don't understand what a Board of Directors is for.”
“In the bylaws, without fail, there's a requirement that you have a Board of Directors. Those responsibilities by law include, generally, hiring and firing the CEO... Board members are required to protect shareholder interests, they have a duty of care... one of the first things you should do is go buy directors and off...”
“I reckon that a Board of Directors is really an adjunct leadership team. You want that same collection of skills, commitment, ability in your board members β they should have the experience... to dive in and help you when stuff goes sideways.”
“If you decide to raise money, it will certainly be the case that the investors will insist on a board... If you raise a bunch of money and the investors don't want to see, you have dumb investors.”
“He made me a much better CEO. To the extent that Cloudera was a good company, it was largely due to the coaching that I got from Aneel β he was hugely helpful.”
“The board's responsibilities are primarily strategic, they decide what the company is going to do. The management team decides how to do that β they're responsible primarily for tactics.”
“You want to meet often enough, but not too often. We started out meeting monthly and that was way too often. Quarterly turns out to be often enough, because if you need to, you can always pull the board together.”
“When the iPhone 4 came out... Apple's initial reaction was to tell everybody that they were holding their phones wrong. That didn't go over well. Jobs called the Apple board together for a marathon all-day session to decide what they were going to do.”
“A good board can be a major asset to a company and a bad board can be a major drag. The board does hire and fire the CEO, but a critical job to a good CEO is to hire a good board.”
“My point of view is that Amazon, Microsoft, Google do a much better job of that than the local credit union is going to be able to do.”
“The convenience of blowing through toll bridges and seeing driving-time signs has totally enured us β we didn't even ask the question of should that data be collected, should it be kept, where and how well, who has it.”
“I actually find that to be even far more the province of the big company; the large company tends to lose track of who their consumer is β they've become the 800βpound gorilla to the point of basically saying, here's my thing, take it or not.”
“I tend to find that small businesses that have gotten past sole proprietorship β even when you're getting into that five or ten range β nine times out of ten those are the folks that really understand their consumer.”
“You start really rooting around for how do I squeeze one more dime out of this consumer β how do I get one more month subscription out of this consumer? Part of the reason I was happy to step out and start moving into being able to do this as a consultative effort is because of that.”
“Once you're thinking in that regard β how close to this line can we actually get in our conversation? β I think you've lost sight of your consumer; you've pulled this mask over them and they aren't that human being anymore.”
Technologists founding companies often focus on technology, products, co-founders, teams, customers, and markets, yet theyΒ ...
Welcome back to The Periphery! This week, we ask Cloudera founder Mike Olson to explain the cloud. He talks us through the evolution of the internet and cloud computing, government contracts, complex international issues, and (shocker) privacy concerns. Join our Patreon for the extended version of this interview. Leave us an honest review, subscribe, and join us next Tuesday for a conversation about the digital divide.
Mike and Steve talk about the effect of data, and how other companies misuse the data they have gathered. How Data CanΒ ...
The world-wide explosion in data is driven by three important trends: The increasing digitization of the world, in which people andΒ ...
A Celebration of Mike Stonebraker (70th Year Birthday Party) Saturday April 12th, 2014 @ MIT Stata Center https://stonebraker70.com Session #4 - Postgres & Beyond Panel Anant Jhingran (Β Β /Β 754Β Β ) Mike Olson (Β Β /Β mikeolson2Β Β ) Joe Hellerstein (https://en.wikipedia.org/wiki/Joseph_...) Wei Hong (Β Β /Β 1101172727971569664Β Β ) Margo Seltzer (https://www.seltzer.com/margo/)
To view the full keynote and other videos from Strata Data Conference, please visit: http://oreilly.com/go/stratasf19 Most enterprises want the same flexibility and convenience they get in the public cloud, no matter where their data lives or their applications run. We've reached the point that the "enterprise data cloud" must span the firewall and the services offered by hyperscale vendors. Mike Olson describes the key capabilities that such a system requires and why hybrid and multi-cloud is the future. Subscribe to O'Reilly on YouTube: http://goo.gl/n3QSYi Follow O'Reilly on: Twitter:β¦
Subscribe to O'Reilly on YouTube: http://goo.gl/n3QSYi Follow O'Reilly on: Twitter: http://twitter.com/oreillymedia Facebook:Β ...
Data is powering a machine-learning renaissance. Understanding our data helps save lives, secure our personal and businessΒ ...
Mike Olson, Co-founder and CSO of Cloudera and Oliver Ratzesberger, Executive VP and Chief Product Officer of Teradata share their view on the Unified Data Architecture and the need of running new workloads on existing and new data systems.
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