Companies mistakenly bundle management with authority, forcing top performers onto a management track to gain influence. Separate them. Define management's role as coordination and context-sharing, allowing senior individual contributors to drive decisions without managing people.

To ensure genuine collaboration across funds, Centerbridge structures compensation so a "substantial minority" of an individual's pay comes from other areas of the firm. This economic incentive forces a firm-wide perspective and makes being "part of one team" a financial reality, not just a cultural slogan.

Culture isn't about values on a wall; it's about daily habits enforced by memorable rules. Ben Horowitz argues that rules need "shock value," like A16z's policy of fining partners $10 per minute for being late to a founder meeting. This makes the underlying principle—respect—unforgettable and non-negotiable.

The most effective masterminds consist of people from different industries and business stages. This diversity prevents direct comparison and fosters richer insights. The crucial factor for curation isn't similar resumes but shared values like generosity, honesty, and a willingness to learn. Energy alignment trumps expertise alignment.

Venture capital returns materialize over a decade, making short-term outputs like markups unreliable 'mirages.' Sequoia instead measures partners on tangible inputs. They are reviewed semi-annually on the quality of their decision-making process (e.g., investment memos) and their adherence to core team values, not on premature financial metrics.

For creative projects, founders should own the first 10% (ideation) and the final 10% (integration), delegating the middle 80% (execution). This framework, used by Steve Jobs with his design team, allows leaders to set direction and add their final touch without micromanaging the core creative process.

The CDO argues that one-size-fits-all structures are ineffective. He believes management's true job is to thoughtfully and dynamically create the right rituals, structures, and processes for each unique combination of problem, people, and timeline, rather than forcing teams into a pre-defined box.

Gamma maintains a flat, high-impact organization by eschewing traditional managers. Instead, all leaders are "player-coaches"—they actively contribute as individual contributors while also mentoring their teams. This keeps leadership close to the work and empowers teams to adapt quickly without top-down commands.

For over a decade, Sequoia has systematically asked top operators, 'Who are your five smartest peers?' By tracking responses in a proprietary CRM, they've built a talent map that functions like a 'PageRank for people.' This system allows them to assess engineering team quality deep within organizations, providing a unique diligence advantage.