Lauren Gross: Chief Operating Officer and Partner at Founders Fund

Growing up, Lauren aspired to have a role where she would be constantly intellectually challenged and motivated. Her interests varied throughout the different phases of her life. However, she always remained determined to build a stronger world. Her aspiration became a reality when she joined Founders Fund, a venture capital firm with over $6 billion in aggregate capital. Currently, Lauren serves as a Partner and the Chief Operating Officer at the firm, where she oversees its operations and legal, finance, and branding teams. She also works closely with the investment team. Founders Fund’s portfolio includes incredible companies such as Airbnb, Spotify, SpaceX, Stripe, Lyft, and Postmates.  

What is the greatest risk you have ever taken?

When I joined Founders Fund, it was riskier than I originally had thought. I had no particular background or expertise for the role. I would not have described it as a risk at the time. Peter Thiel, who is one of the co-founders of the firm, had this vision of it being a billion-dollar fund, which ten years ago was a big deal. People were not raising the number of funds they are raising today, and my role was to help manifest that. Although it was risky based on the expertise I had at the time, it ended up working out. 

When was a time you wanted to give up, and what made you persevere through it?

I don't think I have ever really wanted to give up. One of the best parts of being at Founders Fund has definitely been the people. It has an exceptional group of people. It is a group of deeply intellectual people and a cast of characters, that comes with distinct personalities. My job is to work well with the team and make those different pieces work well together, which has certainly challenged me, but never to the point of giving up. 

What was a key decision you made that helped you get to where you are today?

Trusting my gut. Unlike a lot of my peers here who have absorbed technology from day one, I had a more traditional path. I started my career in Investment Banking, and I knew from the first day of the role that it was not the right fit for me. I yearned to be inspired by the people I was surrounded by. When I first met Peter and the team here, I really felt that sense of belonging. 

If you could change one thing about the world, what would it be?

I would love for everyone to have the ability to listen to others’ perspectives. It's one of the things I cherish about working here. We debate everything here from investments to philosophies to politics. It has been so refreshing and extremely unique to speak to people who have views that vary from my own. Since we are living in our own chambers, we are less open to hearing people’s views who differ from ours. We, as a society, have to change that. 

How do you cultivate a mindset to accomplish your goals?

Positivity is quite important. I was fortunate enough to be raised that way and to live a privileged childhood. I tried to ensure that I did not take that gift for granted and also to never self create problems. I remember in high school, there was a quote I read that said to assume everyone you meet is fighting a tougher batter. This quote really stuck with me and every time I am challenged with something, I try to think about that. 

What advice would you give others who aspire to be like you?

Trust yourself. You are the biggest asset to yourself, and you know yourself better than anyone else. It is important to figure out what your comparative advantages are. You need to find the overlap between your strengths and what you enjoy. Most of the time, people are told what they should be doing or we look at what others are pursuing. It is important to identify what your core strengths are and see if those things also bring you joy. Then, find a role that can incorporate both of those aspects. 

How do you define the word, success?

Being happy. A lot of people have much more complicated answers, whether that is having power, recognition, or fame. At the end of the day, none of that matters to me if you are not happy. It is so important to find something you are uniquely good at and enjoy doing. Live by your own rules. Push back on social pressures. Find comfort in what makes you uniquely happy.

When was a time you failed, and what did you gain from that experience?

I strongly believe in trusting your gut and whenever I betray that, I tend to not achieve my goal. It is quite hard, but age really helps develop your instinct. Your gut instinct improves over time as you learn through your experiences. 

What is an unexpected challenge you faced, and how did you mentally challenged through it?

When I was first joined Founders Fund, my role was to help raise the first set of funds. We were not a brand name, and venture capital was not as popular as it is today. It was quite challenging. However, in the end, we ended up being oversubscribed which I did not expect. This experience taught me about the importance of transparency and addressing the unknown always.