Prompt Cast
Sandy Lerner's Journey from Co-founding Cisco Systems to Urban Decay
TLDR Sandy Lerner co-founded Cisco Systems, one of the largest networking companies globally, before transitioning to founding Urban Decay, a cosmetics company focused on unique, cruelty-free products. Despite facing challenges as a woman founder in a male-dominated industry, Lerner's success can be attributed to her intelligence, hard work, and a bit of luck.
Timestamped Summary
00:00
Sandy Lerner co-founded Cisco Systems and Urban Decay, while also building one of the largest private libraries of Jane Austen books.
05:38
Cisco Systems, co-founded by Sandy Lerner, is the largest networking company globally, with a market cap of around $200 billion.
10:57
Sandy Lerner transitioned from studying Marxist economics and international relations to studying computers due to her exposure to computing at Claremont Graduate School and her desire for independence and financial stability.
16:10
Sandy Lerner and Len Bozak built their own internet and computer network at Stanford University in the late 70s and early 80s, before the official Stanford University network was established.
21:15
Sandy Lerner and Len Bozak, frustrated by Stanford's refusal to license their routing technology, decided to start their own company, Cisco, with just a $5 bill to help computers communicate.
26:07
After leaving Stanford and facing legal threats over alleged technology theft, Sandy Lerner and Len Bozak successfully negotiated a fair royalty deal with Stanford, funded Cisco through credit cards and mortgaging their home, and quickly gained customers through the internet, booking a quarter million dollars a month by 1987.
30:59
Sandy Lerner and Len Bozak struggled to secure investors for Cisco Systems due to skepticism about the profitability of a public protocol and faced challenges as a woman founder in a male-dominated industry.
36:45
Sandy Lerner and Len Bozak found the investor they needed in Don Valentine from Sequoia Capital, who invested $2.6 million in Cisco Systems, but tensions arose when a new CEO was brought in by Valentine, leading to internal conflicts and power struggles within the company.
41:23
Sandy Lerner was fired from Cisco Systems by the CEO, John Mortgridge, despite not being fully vested in her shares, leading to internal conflicts and her eventual departure from the company.
46:45
Sandy Lerner founded a cosmetics company, Urban Decay, after being ousted from Cisco Systems, focusing on unique colors and cruelty-free products.
51:44
Sandy Lerner founded Urban Decay with a focus on unique products and cruelty-free cosmetics, diving into the industry by personally overseeing the production process and challenging traditional beauty standards.
56:37
Sandy Lerner reflects on her relationship with her husband Len, their decision to sell Cisco stock, and attributes her success to being smart, working hard, and luck.
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