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Instacart Cofounder Max Mullen identifies genuine builders by examining their footwear condition at startup events and investor meetings.
Max Mullen (cofounder of Instacart, and a tech investor who is part of more than 100 startups) has come up with a unique way to determine if a founder is worth investing in - by looking at their shoes! In a recent episode of Uncapped with Jack Altman, Mullen explained that looking "down" at founder events allows him to determine if they are true entrepreneurs or just putting on a show of success.
According to Mullen, committed founders wear old, plain white sneakers (usually inexpensive Nikes, New Balance shoes, or basic Adidas) that are severely worn out and show a lot of wear or worn out. This indicates that they are so focused on building their company that they do not have time or desire to take care of themselves or their clothes or spend money on a new pair of sneakers.
"They don’t have time to buy a nice pair of sneakers,” said Mullen. “They buy one pair and wear the same pair until they are dirty." Mullen used Rahul Behal (cofounder of an AI automation startup called Gumloop) as an example of what this looks like. Behal had essentially destroyed his sneakers (so Mullen went and bought him a new pair). This evidence led Mullen to conclude that there is an opposite type of founder as well, who wears nice shoes and dresses his cardigan perfectly. These entrepreneurs, he argued, prioritize signaling competence over developing it, dedicating their limited energy to style and appearances rather than execution.
In a related blog post, Mullen emphasized an important caveat: dirty white sneakers are a symptom of dedication, not its cause. The condition of a founder's footwear merely reflects underlying priorities and work habits, it does not create success independently. "You cannot buy a pair of gross Allbirds on Thursday and become a better CEO by Friday," Mullen wrote, cautioning against misinterpreting his observations.
Business Honor is of the view that Max Mullen's shoe-assessment methodology represents an innovative approach to founder due diligence.
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