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What We're Discussing
The story of Away, the luggage brand that went from $0 to a $1.4B valuation in just four years—and the toxic workplace culture that nearly destroyed it all.
Away's Meteoric Rise
- Founded by two Warby Parker alums (Jen Rubio & Steph Corey) after a broken suitcase at the airport
- Raised $150K friends & family round
- Launched with a genius pre-order strategy: sold coffee table books with suitcase gift cards to 40+ travel influencers
- Generated $450K in pre-orders before shipping a single bag
- Hit $12M in Year 1, became profitable by Year 2, reached $150M by Year 3
The Cracks Begin to Show
- 2017: FAA bans built-in lithium batteries (their key differentiator)
- Toxic workplace exposed: CEO Steph Corey created a culture of intimidation and constant surveillance via Slack
- Employees required to use Slack for ALL work communication (she was married to Slack's creator)
- Public berating in town halls, unrealistic expectations, fired employees who complained in "private" channels
- Corey resigned in 2019 after explosive Verge article, then un-resigned, then finally left in 2020
Lessons for Founders
- Beware massive valuations: $1.4B valuation created unsustainable growth pressure
- Culture matters from Day 1: Toxic leadership destroys even rocket ships
- Know when to step aside: The skills that get you to $1M ≠ skills needed at $150M
- Humble leadership wins: Best executives admit what they don't know and bring in help
- Public praise, private criticism: Never berate employees publicly
Personal Takes
George shares why he prefers mid-size companies over huge enterprises, and we discuss the "girl boss" hustle culture that may have contributed to Away's toxic environment.
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