Why Colossal Biosciences CEO Ben Lamm wants to de-glorify start-ups
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Ben Lamm is a technology executive who knows some things about starting up a business. There are six of them.
Lamm’s 41 years of experience has seen him rise to the top in his field. has built and sold a slewStart-ups include AI-product builder HypergiantSimply Interactive is an e-learning company. digital gaming company Team Chaos Conversable is an AI-driven company that provides conversational intelligence.
Lamm launched his sixth company last year. Colossal Biosciences — a biotech company hoping to resurrect the woolly mammoth using gene-editing techniques. Fundraising was done by the company. $60 millionLamm was named CEO in Series A funding that was announced earlier this month.
Lamm has worked full time building start-ups for many years. He says that he has seen the negative aspects of starting a business out of nothing become less prominent in recent years.
He is determined to end that myth. Lamm says, “I don’t know if entrepreneurship is something I want on anybody. It’s like my worst enemy.” CNBC Make It.“I’m not sure if that’s a compliment or a necessity, but calling someone an entrepreneur is something I’m unfamiliar with.”
Lamm said that starting a company means losing time with family members, travelling “200-plus days annually”, not sleeping well, and stressing about boardroom disputes and shareholder fights. Lamm says starting a company can be difficult. He describes it as enduring breakdowns, emotional turmoil, and sheer exhaustion.
Lamm says, “I probably cry more often than the average person.” Lamm says that she is a very emotional person.
Lamm states that it is necessary to possess the “right combination of dysfunctional characteristics” in order for an individual to become a successful entrepreneur. Lamm says the most important thing is that you must be passionate about your idea and have conviction. You also need to be fine hearing the word “no” a lot — from investors, business partners and even family or friends.
Lamm says, “I am constantly told no.” You just need to keep pushing forward.”
Lamm offers some tips to help you decide if your passion is worth the risks of making something new.
He says that he has developed a work-life routine over time because it is difficult for him to get out of work. Covid has made it a point to limit his travel to work to the “absolute essentials” and to allow himself occasional vacations.
Lamm only spends two hours per day on vacation looking through emails or Slack messages. Lamm says that he only spends two hours per morning looking at emails and Slack messages, the remainder of the time he is completely disconnected.
To improve his productivity and sleep, he also quit caffeine and alcohol. In fact, Lamm says, seven hours of sleep per night is now a non-negotiable part of his schedule — an abrupt about-face from his younger days, when he often sacrificed sleep in favor of work.
Lamm shares, “I have learned that my body needs it specifically or else I am not functioning at my peak to make all the important decisions every day.”
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