The Pacaso Offsite: A Passionate Mission-driven Team Meets in Person for the First Time

I think it’s safe to say that I love what I do - especially as a coach and mentor to the startup companies I invest in and believe in. And last week, I was again reminded just how fortunate I am to do what I love.?

As you may know, I am the Co-founder and Chairman of Pacaso, a young property tech company that aims to democratize access to second-home ownership.

We started Pacaso prior to Covid and made it a fully distributed company with no physical offices. So when Covid hit, we had already embraced working remotely. This is one reason why last week was so special.?

Last week Pacaso employees gathered in Napa Valley for our first “All Crew Retreat.” Zoom and Slack employees from over 20 states were finally able to see each other in real life after a year of being relegated to the confines of a computer screen. (All? attendees were required to provide proof of vaccination and a negative Covid test.)?

Beyond the initial introductions (“nice to meet you...in person!”), what followed were three incredibly energizing days of group activities, team building, and fellowship.?

I returned home invigorated and excited to share some of my observations.

A New Role: Coach

Running a startup is all-consuming. I’ve done it twice before, and now that I’m in my third decade in tech, I’ve come to the point in my career where I can comfortably step off the field and contribute from the sidelines as a coach. This doesn’t mean I’m out of the game - it just means I get to be a coach to the entire team, including Pacaso’s co-founder and CEO, Austin Allison.?

Spending most of the three day Pacaso offsite in the audience rather than in the spotlight on stage was an adjustment, but it actually felt great. Austin is incredibly talented and passionate about leading the Pacaso team as CEO and he demonstrates a clear vision and an infinite mindset. It’s exciting to witness him lead this high-growth company, and I am honored to serve as Chairman. Although “coach” would be a more accurate title than Chairman.?

An Inclusive Base Will Launch You Far?

From a business standpoint, Pacaso is growing incredibly fast. It is the fastest US company to receive a unicorn valuation at $1B. It is also in the 25 top second home destinations - with plans to expand internationally within this first year.

It’s an amazing ride to be on and reminiscent of my early days at Zillow.?

While comparisons are easily drawn between the two real estate disruptors and their accelerated growth - there is one area where Pacaso is already standing out: company values. The care and effort Pacaso is taking right from the start to ensure a workplace that values company diversity, and inclusivity is remarkable to see. While the business may be skyrocketing, Pacaso’s values are firmly grounded. At Zillow, I saw the importance of having a mission-driven culture, a diverse team, and strong core values. But it took several years to get to that place -- at Pacaso, we are doing it from the start.

Know Yourself and Your Colleagues

The retreat provided some great opportunities for team-building and personal development (grape stomping was a huge hit!). One HR-led workshop initiative centered around the Real Colors Personality Instrument. The entire crew answered a series of questions to determine how each employee best communicates, leads, and participates in a professional setting. It was remarkably enlightening - and the positive impact it had on company collaboration was instantly apparent.

The crew put this newfound communication knowledge to work when they broke off into groups and were tasked with coming up with new and innovative ways to enhance the Pacaso experience. Finalists were chosen to pitch their ideas at our very own Shark Tank - with judges consisting of Austin Alison, CFO Nina Tran, and myself. The forward-thinking ideas that came out of this exercise were fantastic - and I was once again reminded of how dedicated this crew is to enriching lives through second home ownership.

(Mostly) Broad Approval

As the retreat neared its end, Austin and I sat down for a Fireside Chat. Austin and I have known each other for nearly a decade and were able to candidly discuss some external influences that can impact a young company like Pacaso - beginning with perhaps the most obvious: consumers. A startup must have good product-market fit - and Pacaso’s is extraordinary. Pacaso owners are overwhelmingly passionate and enthusiastic about their experience. So much so that a huge source of our business is through referrals. This product has struck a nerve, and it is exciting to see.

While this immediate consumer buy-in from consumers is amazing, they are not the only players in the real estate market. Luckily, industry acceptance has also been terrific. Brokerages, agents, multiple listing services, and other participants in this massive sector have also embraced Pacaso.

Some communities have concerns about Pacaso, and what it might mean for their neighborhoods. And we are listening. We are learning from this feedback, adapting messaging to more effectively tell our story - and in some cases making changes on the business level to address feedback.

That’s just another exciting aspect of startup-life - the ability to learn, and grow, and adapt when necessary to continue to provide the best service and product.?

As I said, I love what I do. And it’s easy to see why. All-hands retreats like this Pacaso event, which bring together passionate people all rowing together with the same mission, are critically important. And fun.