The Beautiful Office Test
Schmidt: I can always tell when we're dealing with a proper founder — by how they're spending their money. Whenever I go into a startup that has beautiful offices and really nice chairs, I cringe. Because that means they haven't quite figured out that it's not their money.
When I joined Google, I was given an office — a little corner of a desk with four other engineers. Eventually I was given an 8-by-12 office where my desk was literally a door. I've retained that door to try to remind myself of what it takes to be successful. My office today has that door in it.
Whenever I go into a startup with beautiful offices and nice chairs, I cringe. It's not their money.
No Salary at All
Schmidt: The great founders are frugal. They understand that the money needs to be used precisely for certain areas. Many of the most successful founders begin with no salary at all.
I have lots of stories about Larry and Sergey. But let's just say that when I started, one of them was having trouble with his car. I had to loan him my car because his broke down. That's the kind of stuff we're talking about.
Many of the most successful founders begin with no salary at all. I had to loan Larry my car because his broke down.
That's What Being a Founder Is Like
Schmidt: If you're not prepared to live that way, you don't really understand what being a founder is like. I'd love to be a founder with a nice corner office, a beautiful view, and lots of secretaries. That's not how it works. The great founders always started that way.
If you're not prepared to live that way, you don't really understand what being a founder is like.