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cover of episode Perseverance Over Speed: Creating a New Category with Impinj's Chris Diorio

Perseverance Over Speed: Creating a New Category with Impinj's Chris Diorio

2024/10/9
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Founded & Funded
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Chris Diorio
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Patrick Ennis
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Chris Diorio: 我认为快速失败的理念不适用于开创全新领域，因为这需要时间和耐心。Impinj最初的目标并非RFID，而是低功耗无线技术，但由于互联网泡沫破裂，我们转向了RFID。我们开发的微型无线电芯片无需电池，能帮助企业追踪物品。尽管Walmart的公告带来了希望，但我们的成功之路并非一帆风顺，经历了漫长的发展过程才最终上市。任何具有变革意义的技术都需要很长时间才能发展成熟，这需要耐心和坚持。我们公司拥有一套核心原则，这些原则对公司的成功至关重要，并贯穿于公司文化之中。CEO的首要任务是帮助每位员工取得成功，而每位员工的首要任务是帮助客户取得成功。公司能够克服市场发展缓慢的挑战，得益于对自身愿景的坚定信念和全体员工的共同努力。我们经历了市场波动，最终凭借自身的产品和技术优势在竞争中脱颖而出。Impinj已经生产了超过1000亿个芯片，这些芯片广泛应用于各个领域。我们不仅开发技术，还积极与终端客户合作，共同开发应用场景，并建立合作伙伴关系，推动产品进入市场。我们与大型企业合作，虽然部署周期长，但能实现大规模应用。我们与终端客户建立信任关系，共同解决问题，并在此基础上发展合作伙伴关系。Impinj与TSMC的长期合作关系对公司发展起到了重要作用。快速失败的理念不适用于创造全新领域，而Impinj的成功得益于Madrona和Arch的耐心和支持。招聘优秀员工是公司面临的最大挑战之一，需要花费时间了解候选人的个人特质。技术面试中，我会要求候选人教我一些他们所掌握的知识，以此来评估他们的专业能力。Impinj的成功上市得益于公司对自身故事的清晰阐述和对市场的把握。IPO为公司打开了通往金融市场的大门，帮助公司加速发展，并拉开了与竞争对手的距离。Impinj正在努力将RFID技术推广到消费者领域，让更多人受益于物联网技术。我们正在努力将RAIN（无线电识别）品牌推广到消费者市场，并致力于将物联网技术应用于更多领域。 Patrick Ennis: Impinj早期在产品市场匹配方面经历了一段探索期，但这种探索最终帮助公司充分挖掘了突破性技术的价值。在2000年，Impinj获得了Madrona和Arch的投资，这笔资金在当时非常可观，我们认为这可能是公司唯一一轮融资。我们与Impinj的合作，得益于Chris的成就以及Carver Mead在业界的声望。Tom Alberg对Impinj和Madrona都产生了深远的影响，他的智慧和价值观对公司的成功至关重要。 Tim Porter: Impinj的成功案例说明了公司文化和人才的重要性。Tom Alberg对Impinj和Madrona都产生了深远的影响，他的投资理念对公司的成功起到了关键作用。他强调与优秀人才合作，进行大胆的投资，并保持耐心。

Deep Dive

Chapters
Impinj creates tiny radio chips used for tracking items. Initially focused on 3G wireless, they pivoted to RFID after the dot-com bubble burst. The journey to success was long and involved overcoming various challenges.
  • Impinj makes miniature radio chips smaller than a grain of sand.
  • Initial vision was for 3G wireless, but pivoted to RFID after the dot-com bubble burst.
  • Transformative technologies take a long time.

Shownotes Transcript

In this episode of Founded & Funded, Madrona Managing Director Tim Porter and Venture Partner Patrick Ennis host Chris Diorio, co-founder and CEO of Impinj, the pioneer and world leader in RFID technology. Patrick and Chris have known each other for more than 24 years — since Madrona and ARCH Venture Partners co-led Impinj's first round of financing in the summer of 2000. In this episode, these three reminisce about old times and share some fun stories while diving into what it takes to truly launch a new category — and the patience required by both entrepreneurs and investors when doing so. They also discuss developing new speculative technology, navigating channel partner relationships, making it through an IPO during uncertain times, and how Impinj became the least known $4.6 billion public company in Seattle. This is a must-listen for any entrepreneurs out there.

Full transcript: https://www.madrona.com/perseverance-over-speed-creating-a-new-category-with-impinjs-chris-diorio)

Chapters:

(00:00) Introduction  (02:01) Creating a category, early days of Impinj  (03:22) Pivot to RFID(04:40) Struggles and Breakthroughs(08:50) Principles and Company Culture(13:01) Struggles with RFID Standards  (14:27) Surviving and Thriving  (15:11) Adoption and Scaling Challenges (18:01) End Customer Scenarios and Partnerships (20:52) Financing Strategy and Key Partnerships(23:27) Patrick Meeting Morris Chang: A Career Highlight(24:50) Remembering Tom Alberg's Influence(27:55) The Art of Hiring and Mentorship(33:13) The Journey to IPO(36:42) Strategic Partnerships and Investments  (37:01) Company Principles and Future Outlook (38:35) Balancing Work and Life