Julie Wainwright’s Memoir: Lessons in Leadership and Resilience
Julie Wainwright, a notable figure in the tech industry, has successfully taken two companies public. Her latest memoir, Time to Get Real, provides a candid examination of the often-overlooked challenges of leadership. The book details her experiences, revealing truths that resonate with many CEOs but are seldom discussed in public.
A Memorable Career Initiation
Wainwright’s ascent in the business world began after her tenure at Clorox, where she navigated a predominantly male tech landscape in the 1990s. As the CEO of companies like Berkeley Systems and Reel.com, she achieved significant milestones, including increasing Reel.com’s revenue from $3 million to $25 million prior to its acquisition by Hollywood Video. Wainwright reflects, “I just operated better without a boss.”
The Pets.com Debacle
The trajectory of her career took a dramatic turn in 2000 when she led Pets.com to its public offering, only to shut it down later that same year amid the dot-com crash. This moment marked what many would consider a significant setback for Wainwright. She recounted the dual blow of losing her company and facing personal turmoil, stating, “My work is gone, I’m getting a divorce, and I don’t have children.”
Navigating the Aftermath
Following the challenging end of Pets.com, Wainwright describes a “long winter” where opportunities to lead other firms often involved restructuring failing businesses. Despite this, she would later bounce back with the establishment of The RealReal in 2010, a company crucial in developing the luxury consignment market online. Initially operated from her home, The RealReal grew rapidly, now managing an extensive inventory of luxury items.
The Return to Wall Street
Wainwright took The RealReal through its traditional IPO process in 2019, marking her second notable return to Wall Street. However, an unexpected turn came in 2022 when she was ousted from the company. She attributes this to a power play by an investor seeking control, a situation she addresses directly in her memoir.
Insights into Leadership
What sets Wainwright’s memoir apart is not just its recounting of personal and professional challenges but the practical insights it offers. She highlights her experience with hiring decisions, including the pitfall of selecting a “dumb aggressive” executive, which she defines as someone more focused on authority than competence.
Current Ventures and Future Directions
Continuing her entrepreneurial journey, Wainwright has recently begun developing Ahara, a nutrition company aiming to create personalized dietary solutions based on individual genetic profiles.
Conclusion
Wainwright’s Time to Get Real provides not merely a memoir but a valuable resource for entrepreneurs and leaders seeking a realistic perspective on business. As she stated in a recent conversation, “I personally wrote it for entrepreneurs to give them a realistic view and hopefully inspire them and, you know, maybe they’ll think twice and not make the mistakes I made.” To explore her story further, you can find the book here.
