Ruth’s Reflections on Alphabet:
Ruth joined Alphabet in May 2015 as Senior Vice President and Chief Financial Officer. Prior to that, she had a successful career at Morgan Stanley. Ruth serves on the boards of Stanford University and the Council for Foreign Relations.

The Google Opportunity:
Joining Alphabet exposed Ruth to the early-stage nature of Google’s products. She sees vast opportunities for growth in areas like mobile internet, advertising, and cloud computing. Ruth led the challenging but productive process of prioritizing funding and resource allocation during the 2016 budgeting.

Silicon Valley vs. Wall Street:
Ruth’s familiarity with Silicon Valley (having grown up in the area) eased her transition from Wall Street. She appreciates Silicon Valley’s culture of optimism and constant learning, which she found similar to her experience at Morgan Stanley.

Cultural Fit and Accomplishments:
Ruth feels at home in Google’s culture and appreciates the talented team she works with. One of her proudest accomplishments is integrating into the company and enabling progress.

Google’s Exciting Products and Technologies:
Ruth is enthusiastic about several areas, including personal assistant machine learning, virtual reality, and education initiatives such as Chromebooks and the Cardboard VR platform. She emphasizes the importance of inclusive access to information and opportunities for everyone. Google’s focus on connecting the next billion users and fighting poverty resonates deeply with her.

Google’s Early-Stage Nature:
Ruth emphasizes that Google is still in its early stages across many areas. She encourages the team to remember the vast opportunities ahead and embrace the culture of innovation and growth.

Core Attributes of a Successful Leader:
Ruth Porat seeks leaders who demonstrate passion, excellence, and intellectual curiosity. She values lifelong learning and the ability to approach problems with a fresh perspective. She appreciates a mix of ambitious individuals seeking significant growth opportunities and those with extensive experience and pattern recognition. She emphasizes the importance of diversity in leadership teams, recognizing that different perspectives lead to better business outcomes.

-She evaluates candidates in interviews by directly asking about their “battle scars.”

The Significance of Diversity in Leadership:
Porat highlights the compelling business case for diversity, citing research that shows diverse teams achieve better financial and business outcomes. She acknowledges that progress in diversifying the industry has been slow but is encouraged by the growing recognition of its importance as a driver of stronger leadership.

Advice for Building Diverse Teams:
Porat advises that building a diverse team does not require tradeoffs and is essential for building a strong leadership team. She stresses the need to have sponsors and mentors who are willing to take risks and provide opportunities for growth, regardless of one’s position or experience level. She emphasizes the importance of having people who have your back and who are confident in their own abilities to support and advocate for you.

The Importance of Sponsorship and Mentorship:
Porat shares her personal experiences of having mentors who took risks on her and provided her with opportunities for growth.
-She highlights the value of having someone in a position of authority who can provide air cover and support.

Sponsorship and Mentorship:
Most of Ruth Porat’s sponsors have been men due to the lack of women in senior positions when she was growing up in her organization. Sponsors don’t need to be similar to have a positive impact, and diversity in sponsors is important for well-rounded decision-making.

Advocating for Yourself:
Earning the right to have a sponsor is crucial. Providing regular updates about accomplishments to the head of a group or business is essential, especially for women. Women should overcome the perception that providing updates is political and recognize that it’s necessary for visibility and recognition. The absence of information can be filled with negative assumptions, so communication is crucial for career advancement.

Expressing Readiness for the Next Role:
When ready for the next challenge, it’s important to communicate this to your sponsor. Be open to different opportunities and emphasize your willingness to learn and contribute. Women should be more persistent and repetitive in expressing their readiness for a move compared to men.

Advice for Women in Leadership Roles:
Seek regular feedback, especially from women on your team. Advocate for yourself and proactively seek opportunities. Don’t wait to feel 100% ready before taking on new challenges. Be willing to step outside your comfort zone and take on bigger responsibilities.

Ruth Porat’s Role Model:
Ruth Porat greatly admires Hillary Clinton for her leadership and ability to balance her day job as Secretary of State with a global women’s initiative. Porat believes that all leaders should strive to excel in their own roles (their “sandbox”) and also push the boundaries to make their organizations better.

Ruth Porat recounted her experience as Wall Street’s most powerful woman and shared her perspectives on navigating challenging times.

Navigating Financial Instability:
She recalled the financial crisis and her role in advising on housing market issues and market giants like Fannie Mae, Freddie Mac, and AIG.

Leaning on Support:
During intense moments, she found solace in her family and reflected on the importance of not postponing personal fulfillment.

Time Management and Prioritization:
Porat discussed the challenges of saying no and how she learned to set high standards for commitments to prevent overextension.

Yearly Goals:
She emphasized the value of establishing a clear set of annual priorities to focus on areas where her impact could be substantial.

To-Do Lists and Work-Life Integration:
Ruth Porat maintains a comprehensive to-do list that includes both work and family priorities, ensuring that everything is handled and she doesn’t overextend herself.

Reasonable Startup Valuations:
Porat encourages a healthy level of skepticism when evaluating startup valuations, emphasizing that 70% of startups fail and only 10% create significant value.

Product Differentiation in a Bubble:
She draws upon her experience in the ’90s tech bubble to emphasize the need for startups to have a truly differentiating product or service, not just relying on the internet as a novelty.

Sustainable Valuation:
Porat highlights the importance of assessing the long-term viability of a startup, ensuring that its valuation is sustainable even amidst market fluctuations.

Lessons from the 2000 Bubble:
Porat emphasizes the importance of differentiated products and services, surrounding oneself with skilled individuals, and understanding the difference between a company and a product.

Lessons from the 2008 Financial Crisis:
Porat highlights the significance of building a solid foundation for a company, including financial controls and risk management systems, to prepare for unforeseen challenges. She also emphasizes the need to have both the will and the means to solve problems, using Greece as an example of the consequences of lacking one or the other.

Prioritization and Means Management:
Porat emphasizes the importance of prioritizing and allocating resources effectively to avoid dissipating means on low-priority tasks. She stresses that it becomes even more crucial when resources are limited.

Longevity, Staying Power, and Prioritization:
Porat believes that lessons from both the tech bubble and the financial crisis can be applied to current business practices, emphasizing longevity, staying power, and prioritization as key principles for success.

Reading Recommendations:
Ruth Porat loves reading Alex Hamilton: The Revolutionary by Ron Chernow and Half the Sky: Turning Oppression Into Opportunity for Women Worldwide by Nicholas Kristof and Sheryl WuDunn. She also recommends In the Shadow of the Banyan by Vaddey Ratner, a first-time author who narrates her struggle during the Khmer Rouge regime in Cambodia.

Travel Wishlist:
Porat recently visited Cuba and plans to travel to Iran if possible. She emphasizes the importance of exposing her children to diverse cultures and promoting a global perspective.

Morning Routine:
Porat religiously checks news updates every morning before getting out of bed. She reads the New York Times, Morning Blast, Politico, and the Financial Times to stay informed about current events.

Favorite Finance Publication:
Ruth Porat favors the Financial Times as her preferred finance publication.

Essential Apps:
Google apps constitute the bulk of Porat’s essential apps as she utilizes them across the board. Additionally, she finds Uber indispensable for her daily transportation needs.

Distinction Between Company and Product:
Porat differentiates between a company and a product using examples from the dot-com era. While some companies simply repackage existing distribution channels as separate products, true innovators like Amazon and eBay create transformative experiences or entirely new markets.

Market Sizing:
Porat stresses the significance of assessing the total addressable market when evaluating a business opportunity. A seemingly attractive solution may be limited by its narrow scale. Instead, she recommends aiming for solutions that can plug into broader platforms or solve substantial segments of a problem.

Rethinking the Concept of Balance:
Ruth Porat emphasizes the importance of shifting away from the notion of balance between work and family. She sees “balance” as a trap, as it implies an unattainable state of equilibrium. Instead, she suggests viewing it as a “mix” that fluctuates throughout life.

Embracing the Kaleidoscope Metaphor:
Porat uses the kaleidoscope as a metaphor to illustrate her perspective on work-life integration. She believes that a mix of different colors, representing various aspects of life, creates a vibrant and beautiful pattern.

Parental Influence and Early Lessons:
Porat credits her mother’s work ethic and her father’s gender-blind approach for shaping her views on career and family. Her upbringing instilled in her the conviction that being a great mother and having a successful career are not mutually exclusive.

The Power of Love:
Porat recounted an anecdote about her son’s question about why she worked. Her response focused on the love she has for helping clients, solving problems, and working with colleagues.

Navigating the Financial Crisis with Family Support:
During the financial crisis, Porat’s children recognized the importance of her work and were proud of her contributions. This experience strengthened their bond and reinforced their shared values.

Promoting a Culture of Trust and Autonomy:
Porat encourages women in her teams to take ownership of their personal responsibilities without seeking constant approval. She believes that trusting employees empowers them and contributes to their longevity in the workplace.

Embracing the Investment Mindset:
Porat views investing in personal obligations as an investment in an employee’s long-term career success. She encourages both women and men to prioritize family commitments without feeling the need to seek permission or apologize.

Dealing with Opposition:
Ruth Porat emphasizes the importance of ethical behavior, maintaining the interest of the organization, and seeking inclusivity to gain support rather than neutralizing potential threats.

Key Traits for Sponsorship:
Challenge leadership with ideas: Porat values individuals who push boundaries and present new perspectives. Be a source of operating leverage: Offer ideas that can improve operations and drive growth. Think beyond processing: Complete the process and take it to the next level. Push people to think bigger: Encourage individuals to think on a grand scale and aim for substantial goals.

Reciprocity of Sponsorship:
Porat acknowledges the mutual benefits between sponsors and sponsees. She values sponsees who keep her updated on their progress.

Provoking Thought:
Porat seeks individuals who can challenge her thinking. She wants people who can process ideas and take them to the next level.

Financial and Technical Considerations:
Assess financial aspects, including revenue streams and expenses. Understand the technical, business, financial, and marketing models. Surround yourself with a strong team to fill in knowledge gaps. Leverage existing networks of women who support each other’s success.

Validating the Concept:
Test the concept early and often with trusted advisors. Seek feedback from different disciplines within product, design, engineering, and business. Participate in forums like Startup Weekends for mock scenarios and real-life feedback. Engage with potential angel investors, friends, and family for early feedback on your pitch.

Entrepreneurial Spirit:
Embrace the entrepreneurial mindset and the thrill of breaking down barriers. Respect the role of entrepreneurs in bringing innovative ideas to life. Build a strong foundation and be open to capital structure and business adjustments. Collaborate with amazing engineers and entrepreneurs.

Leadership Qualities:
Courage to make decisions, even when they are difficult. Inclusivity to bring out the best ideas from a diverse team. Clarity in vision and direction, often emerging from the team’s input.

Hope for the Next Generation:
Envision the next generation of female leaders achieving their full potential. Recognize the progress made compared to previous generations. Embrace a strong network of women supporting each other’s success. Aim for huge success and leadership positions, believing in women’s capabilities.