From: acquiredfm
The practice of structured, purposeful dinners, as exemplified by Benjamin Franklin, served as a catalyst for the establishment of a unique dinner tradition at Benchmark. This modern adaptation seeks to foster curiosity, collective effervescence, and open conversation among participants [00:02:27].
Origin of the Benchmark Dinner Tradition
When Peter joined Benchmark, there was a shared optimism with Bill about injecting new practices and ideas into the firm [00:00:15]. Bill, having recently read a biography of Benjamin Franklin, was inspired by Franklin’s own dinner habits [00:00:23].
Benjamin Franklin’s Dinner Practices
Franklin reportedly held four dinners a week, each dedicated to a specific subject, such as finance, chemistry, or life sciences [00:00:29]. This focus on deep exploration of topics through dinner conversations provided the impetus for Bill to suggest, “Why aren’t we doing dinners?” [00:00:39].
Adaptation at Benchmark
This inspiration led to an “experiment” with a few dinners, culminating in a significant dinner near the end of 2006 or 2007, which included four outside guests: Katarina Fake, Mike McHugh, Gideon Yu, and Martin Mikos [00:00:42]. The experience was described as “electric,” creating a sense that “time stood still” [00:00:53].
The success of these initial dinners led to the realization that a habit of nurturing curiosity, the “essential lifeblood of the firm,” was needed [00:01:52]. Unlike typical Monday meetings, dinners offered an “open-ended, no agenda, wild explorations” dynamic range that allowed for deep, sometimes “bizarre,” discussions among partners [00:02:06]. This format honors the firm’s purpose of continuous learning and activating curiosity, fostering a “collective effervescence” that cannot be achieved in one-on-one settings [00:02:23].
The non-hierarchical table design of the Benchmark dinners, an organic table by Ole Lundberg (inspired by Jean-Marie Masoud), prevents side conversations and ensures everyone is tuned into a single discussion, a core ethos of the firm [00:02:53]. Esteemed guests, often those whom Benchmark has not invested in, are invited, and the “spotlight of attention” given to them is considered a significant gift [00:03:44].