One of the board members was a very experienced VC who had been in the business around 25 years by then. I asked him "what exactly does a CEO do?”

<aside> 💡 A CEO does only three things. Sets the overall vision and strategy of the company and communicates it to all stakeholders. Recruits, hires, and retains the very best talent for the company. Makes sure there is always enough cash in the bank.

</aside>

I asked, "Is that it?"

<aside> 💡 He replied that the CEO should delegate all other tasks to his or her team.

</aside>

But I have also learned that if you cannot do these three things well, you will not be a great CEO.