TMGTPS5125 Law for Technology Class 1

• The slides are for TMGTPS5125, The Law for Technology Class 1 taught by Scott Joachim.

Class 1 Agenda

• Introductions
• Overview of Modules
• Course Principles -Grades -Policies
• What is “The Law”?
• Maslow’s Hierarchy of Needs
• Good to Great
• Mission Statements
• Core Values
• Wrap-Up

Introductions

• Scott
• Tamara / Tatum
• Each of You should mention: -Background -Objectives for This Course -Career Objectives -Superpowers -Any Personal Interests

Overview of Modules

• Class 1 - Foundational Elements & Principles at Idea Stage
• Class 2 – Formation, Company Structures, Constituents and Corporate Governance
• Class 3 – Co-Founder Relationships and Capitalization
• Class 4 - Contracts 101
• Class 5 - Compensation
• Class 6 – Raising Initial Capital
• Class 7 - Intellectual Property Law and Licensing
• Class 8 – Raising Venture and Growth Capital
• Class 9 – When Things Don't Go According to Plan
• Class 10 – Employment Law
• Class 11 - Litigation, Negotiation and Conflict Resolution
• Class 12 – Mergers and Acquisitions
• Class 13 – Summary Session

Grades

• "About Me" Presentation, Attendance and Class Participation is worth 10% of the final grade
• Quiz No. 1 is worth 10% of the final grade
• Quiz No. 2 is worth 10% of the final grade
• Weekly Reflections and Other Written Assignments are worth 20% of the final grade
• Final Project is worth 25% of the final grade
• Final Exam is worth 25% of the final grade

Policies

• Be On Time
• Respect Classmates and Associates
• Grades Matter, but Learning is More Important
• You are responsible for all reading and Homework materials regardless of coverage
• Office Hours for the Week are Provided Each Week
• Engage

What is "The Law"?

• The Law is a system of principles and rules governing behavior
• The Rule of Law means all members of society are considered equally subject to publicly disclosed legal codes and processes, and every person is subject to the law.
• Importance of the law is consistency and predictability
• Types are Criminal and Civil
• Important Applications of the law are IP, Employment, Tax, Contracts, and Compliance
• Sources -Jurisdictional: Federal, State, City/Municipal -Constitutional, Statutory, Regulatory, Judicial

Maslow’s Hierarchy of Needs

• Self-Actualization includes achieving one's full potential and including creative activities, located on the top of the triangle, needs self-fulfillment
• Esteem needs includes feelings of prestige and feeling of accomplishment
• Belongingness and love needs includes intimate relationships as well as friendships
• Safety needs includes security and safety
• Physiological needs includes food, water, warmth, and rest
• Psychological needs are between self-fulfillment and basic needs

Business Parallels to Maslow’s Hierarchy of Needs

• Basic Needs -Team -Idea
• Evolution Needs -Strategy -Plan of Execution -Competitive Advantage -Capital
• Fulfillment Needs -Revenue -Profitability -Growth

Good to Great Team

• Co-Founders
• Advisory Board
• Investors and other sources of capital
• Board of Directors + Committees
• Employees
• Independent contractors
• Customers / Clients
• Strategic partners - e.g., JV Partners, licensors, licensees, etc.
• Lawyers
• Accountants and Tax Advisors
• Investment Bankers
• Mentors and Coaches

Good to Great Concepts

• Level 5 Leadership
• First Who, Then What
• Confront The Brutal Facts
• Hedgehog Concept
• Culture of Discipline
• Technology Accelerators

Hedgehog Concept

• Combination of: -What you are deeply passionate about -What you can be the best in the world at -What drives your economic engine

Mission Statements

• Mission statements are the North Star of a Company
• Exemplars of companies with Mission Statements: -HP -Amazon -Alphabet/Google -Apple -Nike -Meta/Facebook
• HP Mission Statement: To engineer experiences that amaze each and every one of our customers.
• Amazon Mission Statement: To be Earth's most customer-centric company, where customers can find and discover anything they might want to buy online
• Google Mission Statement: To organize the world's information and make it universally accessible and useful.
• Apple Mission Statement: To bring the best user experience to customers through innovative hardware, software, and services. Challenge the status quo. Think differently.
• Nike Mision Statement: To bring inspiration and innovation to every athlete in the world.
• Meta Mission Statement: Give people the power to build community and bring the world closer together.

Core Values

• Institutional character guides all decisions
• Inconsistency causes confusion and creates discord
• Purposeful inconsistency inspires dialogue and evolution
• Alignment of core values to relationships with a company's constituents - co-founders, employees, investors, boards, etc.
• Alignment to Mission Statement

Exemplars

• HP
• Amazon
• Alphabet/Google
• Apple
• Nike
• Meta/Facebook

HP SHARED VALUES

• Passion for Customers: HP puts customers first in everything they do
• Trust and Respect for Individuals: HP works to create a culture of inclusion built on trust, respect, and dignity for all
• Achievement and Contribution: HP strives for excellence in all they do, each person's contribution is critical to their success
• Results Through Teamwork: HP effectively collaborates, always looking for ways to service customers more efficiently
• Speed and Agility: HP is resourceful and adaptable to achieve results faster than competitors
• Meaningful Innovation: HP invents what is useful and significant
• Uncomprimising Intergrity: HP is open, honest, and direct in its dealings.

AMAZON 14 LEADERSHIP PRINCIPLES

• Customer Obsession
• Ownership
• Invent and Simplify
• Hire and Develop the Best
• Are Right, A Lot
• Learn and Be Curious
• Insist on Highest Standards
• Think Big
• Earn Trust
• Dive Deep
• Bias for Action
• Frugality
• Disagree and Commit
• Deliver Results

Google's Core Values

• Focus on the user and all else will follow
• It's best to do one thing really, really well
• Fast is better than slow
• Democracy on the web works
• You don't need to be at your desk to need an answer
• You can make money without doing evil
• There's always more information out there
• The need for information crosses all borders
• You can be serious without a suit
• Great just isn't enough.

7 Leadership Principles at Apple

• Great products: Make great products; that is not changing
• Simple, not complex: Constantly focusing on innovating, believing in the simple, not complex
• Collaboration: Apple beliefs in deep collaboration and cross-pollination of groups to innovate
• Say No: Apple belives in saying no to thousands of projects so to focus on the few that are important and meaningful
• Excellence: can make a significant contribution
• Ecosystem: Apple need to own and control the primary technologies behind the products we make
• Accept Mistakes: Always have self-honesty to admit when mistakes are made and have the courage to change.

Nike's Values

• Our business is change.
• We're on offense. All the time.
• Perfect results count - not a perfect process. Break the rules: fight the law.
• This is as much about battle as about business.
• Assume nothing. Make sure people keep their promises. Push yourselves push others. Stretch the possible.
• Live off the land.
• Your job isn't done until the job is done.
• Dangers : Bureaucracy, Personal ambition, Energy takers vs. energy givers, Knowing our weaknesses. Don't get too many things on the platter.
• It won't be pretty.
• If we do the right things we'll make money damn near automatic.

Meta's Core Values

• Be bold: Take risks
• Focus on impact: Solve the most important problems
• Move fast: Build more things and learn faster
• Be open: A more open world is better
• Build social value: Focus on building real value for the world

Workshop

• Breakout Groups
• Share core values for this class
• Agree on 3 values out of all collective values or the group
• Have presentations: -Why did you choose those values -Why did you choose that top one -Was it easy or difficutl to align group core values