Julia Hartz18:27
The information was sufficient. It was the human emotion that was muddying the signal. It was so clear. Once you understood the history of this and the science of it and the rate at which it was spreading, there was absolutely no denying that it was going to be a pandemic. So I think the hardest part was having that knowledge. A lot of people have the knowledge. This isn't like we were in some secret bunker. I mean, it's just the human emotional system has a way of saying, 'But maybe not.' And we just weren't willing to risk our customers' businesses and our business on what if. What if we're wrong? I really really admire and am grateful to the people who told us to act fast as painful as it was. And I'll take you through kind of what that looked like because what that actually looked like was gathering my team in mid-March. We had just filed out of our beautiful offices and had gone home and it was chaos. I mean, you remember like everybody was trying to figure out Zoom. The Zoom team themselves, I spoke to Eric the CEO because people were starting to do online events, virtual events. So we built an integration really quickly. But I was talking to him and he said, 'Well, we're such an in-office culture. It's just chaos right now because people are trying to figure out how to work from home.' And I thought like, that is so ironic. That's amazing. But you know, I gathered my executive team and there was a lot of fear, a lot of chaos, a lot of kids and dogs running around, and you know, I was like, 'How about we make a rule that you don't apologize for your kid or your animal, because, you know, if they hear that a lot, they're probably going to have some issues in the future. Like, they're going to have issues anyways. This is crazy, but like, maybe we just don't apologize for them and just like let them be in the picture, you know?' And then I said, 'Given what you know about this business and all the choices we've made, good and bad and indifferent, what would you do if you could do it all over again? What could we do?' And we just started riffing on that. We started like writing things down, and at the end of the meeting, we had a one-pager on what we would do differently. And then I did not pre-plan this, but I have to say it was one of my finer leadership moments. I said, 'Well, we're going to rebuild the company, because there is no company right now. I mean, we're not making any money, and we're facing this sort of imminent disaster if all of these events get canceled that we've already advanced all this money for. So, let's go do this. Let's go make this company.' The most brutal part of that was we had to almost halve the company in headcount. My rationale there was we needed a North Star and a strategic plan to make those cuts. Otherwise, you're just making your best guess, and you're taking people's lives in your hand without a real purpose, right? So, we needed that North Star to go build that company and then figure out who we needed for that company. The second thing was I had an instinct, given again our embracing of the fact that COVID was going to be enormous, that companies would take a while to do their layoffs, and I had this sense that if we laid off our team early, we kept on our entire recruiting team, which was like 25 people at the time, because we were 1,200 people global, we could keep them on and actually make their full-time job getting the people we were laying off jobs. So, that you could kind of invert the system and then rewire it, and our KPI was how many Britelings are secure in a new job. Because my feeling was if we were the first ones to go out and like make a change, we could land those people before everything went to hell in a handbasket. And that worked. I mean, obviously not 100%, but it really did work, and it showed people that we were willing to walk the walk even in the hard moments. And then we had to go raise expensive debt, you know, to shore up our balance sheet, which I'm still a little sore about, but we had great partners, and we ended up not needing the debt. Acting quickly and being decisive and paranoid, healthfully paranoid, that this was not going to be a small or short endurance sprint, that really paid off for us in terms of why Eventbrite even exists today. I mean, there's no reason why we should have made it through that. That was a disaster.