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Episode 54

Lyft’s Kristin Sverchek on Expanding Beyond Legal into Corporate Leadership

Episode summary

Introduction: 0:00

  • Introducing Kristin Svercheck, President of Lyft. 
  • Transitioning through roles as outside counsel, general counsel, president of business affairs before taking a company-wide leadership position.
  • Leading a $2Bn+ IPO.
  • Previously serving as partner at Silicon Valley Legal Strategy and associate at Gunderson Dettmer Stough Villeneuve Franklin & Hachigian LLP.
  • Studying molecular and cell biology at UC Berkeley and realizing she preferred law to science.

Finding her way to Lyft: 3:51

  • Representing investors for ZimRide, the predecessor of Lyft, as outside counsel.
  • Showing leadership skills when fielding legality questions about the ride share app.
  • Turning down job offers at Lyft before eventually accepting.

Taking on her first GC role at Lyft: 6:23

  • Dealing with a steep learning curve between the responsibilities of outside counsel and being part of the company.
  • Learning that GC is a fundamentally different job from outside counsel. 
  • Using humility and acknowledging mistakes to build trust with her legal team and other departments.

Building a legal team at a rapidly growing start-up: 8:23

  • Looking for hires with backgrounds different from her own, like litigation, employment, and insurance expertise.
  • Searching for diverse lawyers who are better than the hiring manager.

Helping lead the IPO process: 10:48

  • Going public even though it didn't feel inevitable.
  • Building out legal and financial teams to handle the workload of preparing for the IPO.
  • Thinking of start-up time in dog years.

Comparing work at public and private companies: 14:39

  • Organizing your time around the demands of a quarterly calendar.
  • Layering major projects on top of each other in order to fit them into quarters.
  • Lowering your risk tolerance and understanding that the best answer is the satisfactory answer.

Dealing with the challenges of executive roles: 17:20

  • Dealing with crises like being underfunded relative to your largest competitor and losing business during Covid-19.
  • Hiring lawyers who possess resilience during stressful periods.
  • Using the triumph of overcoming difficulties as a staff motivator.
  • Knowing you’re only well-rounded if you’ve seen good and bad times.
  • Managing stress, leading through transparency, and showing your work to your employees.

Transitioning into the President of Business Affairs role: 21:45

  • Having a board member to motivate you to take on more work.
  • Overseeing legal policy, business development, and global supply chain and expanding your team 10 times overnight.
  • Recognizing that the worst way someone can respond to a question is by saying no.

Working with an executive coach during major career transitions: 26:08

  • Ensuring that you can handle a shift from managing 150 employees to more than 1000.
  • Guaranteeing that leaders can speak for themselves about what role they need her to play.
  • Dropping in to help individual teams when necessary and bringing them together for quarterly planning.

Advice to lawyers who want to take on GC “plus” roles: 27:56

  • Making sure you can take your legal hat off sometimes to maintain credibility in other fields.
  • Reminding yourself that being a lawyer is no longer your only job. 
  • Building trust in your CEO so they know you can lead non-legal tasks.

Defining and living her values at Lyft: 30:30

  • Engaging in the political sphere and making new laws happen from day one.
  • Taking political stands that directly affect your stakeholders, like the 2017 Muslim ban and Texas SB8.
  • Being selective about your positions since you can’t take a stand on everything.
  • Dealing with disagreements from employees and stakeholders.
  • Understanding an issue from all angles before making an informed decision.

Taking on the role of President: 35:58

  • Bridging the gap between a new CEO and the departments.
  • Managing new and different products like Women+ Connect.
  • Reflecting on whether you still consider yourself a lawyer as you work on a larger and more diverse projects.

Departing Lyft: 38:42

  • Leaving after twelve years to take a break.
  • Leading a long-term journey to make yourself redundant as you ensure the company can function without you.
  • Leaving during a period of calm instead of a period of crisis.
  • Reflecting on your proudest accomplishments at Lyft as you plan for the future.
  • Professional pet peeves.

Book recommendation: 45:52

  • Long Island Compromise by Taffy Brodesser-Akner

What you wish you’d known as a young lawyer: 46:58

  • Viewing imposter syndrome as a gift.
  • Understanding your fears through positive framing.
View more
Host
Tyler Finn
Head of Community & Growth, SpotDraft
Guest
Kristin Sverchek
President, Lyft

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