Dave Margulius: "Starting a Company Without VC Money is Like Starting a Religion"

Dave Margulius: "Starting a Company Without VC Money is Like Starting a Religion"

Released Thursday, 14th August 2025
Good episode? Give it some love!
Dave Margulius: "Starting a Company Without VC Money is Like Starting a Religion"

Dave Margulius: "Starting a Company Without VC Money is Like Starting a Religion"

Dave Margulius: "Starting a Company Without VC Money is Like Starting a Religion"

Dave Margulius: "Starting a Company Without VC Money is Like Starting a Religion"

Thursday, 14th August 2025
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In this episode of HR Heretics, Kelli and Nolan sit down with Dave Margulius discussing Quizlet's remarkable 18-year journey from a bootstrapped startup founded with teenage co-founders to a globally successful education platform, sharing insights on building company culture, managing young talent, transitioning from founder to board member, and maintaining mission-driven values while achieving sustainable growth.

*Email us your questions or topics for Kelli & Nolan: hrheretics@turpentine.co

For coaching and advising inquire at https://kellidragovich.com/

HR Heretics is a podcast from Turpentine.

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KEEP UP WITH DAVE, NOLAN + KELLI ON LINKEDIN

Dave: https://www.linkedin.com/in/davemargulius

Nolan: https://www.linkedin.com/in/nolan-church/

Kelli: https://www.linkedin.com/in/kellidragovich/

Quizlet: https://quizlet.com/

TIMESTAMPS:

(00:00) Intro

(02:00) The $5 Trillion Education Opportunity

(04:06) Meeting Andrew - The 17-Year-Old Co-Founder

(06:04) CEO Transitions and Early Career

(09:11) Sponsors: Planful | Metaview

(12:10) Building a Teenage Team

(16:03) Managing Young Talent and Pure Adrenaline

(19:17) The Shift to VC Funding

(22:15) Company Culture and Values

(26:19) Mission vs ROI Balance

(29:05) 18-Year Journey and Staying Competitive

(32:01) Employee Value Proposition and Liquidity

(35:00) Competition and Market Position

(36:06) Closing Thoughts

(37:27) Wrap



This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit hrheretics.substack.com

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From The Podcast

After a decade+ of “blitz-scaling” companies, HR, talent, and People leaders now face an uncertain economy that has already seen big booms and busts. What will it take to construct the next generation of incredible businesses – and where can people leaders have the most business impact?    Hosts Nolan Church and Kelli Dragovich have been through it all, the highs and the lows – IPOs, layoffs, executive turnover, board meetings, culture changes, and more. With a lineup of industry vets and experts, Nolan and Kelli break down the nitty-gritty details, trade offs, and dynamics of constructing high performing companies. Through unfiltered conversations that can only happen between seasoned practitioners – Kelli and Nolan dive deep into the kind of leadership-level strategy that often happens behind closed doors.This show is for those who are ready to ditch conventional wisdom and figure out from first principles what works for their culture, business model, and industry, with the goal of building a resilient and enduring company. You’ll come away with real guidance for seeing around corners, building enduring companies, and carving out an impactful career – plus a newly-honed bullshit detector.Topics frequently touched on in this season include: building high performing cultures, compensation negotiation, performance reviews, company design, equity, M&As, recruiting the best talent, and how to manage your own psychology as a people leader. hrheretics.substack.com

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