Megan J. Smith
CEO
PlanetOut Corporation
Fields: High school sciences
Specialty: Physics
Nominated by:Matt Basta
Excerpt from nomination: "A mechanical engineering
graduate of the MIT, Megan J. Smith is now CEO of PlanetOut, the
leading gay and lesbian Internet media company with more
than 500,000
registered members. Before becoming CEO, Smith held the positions of
president, COO, and director of operations at PlanetOut. PlanetOut
and Smith have received numerous awards including a Smithsonian
Medal, Yahoo! Internet Life's Best of the Best 98 Sites of '98 and
Best Gay Community for 2000, Upside magazine's Hot 100 Privately Held
Companies for 1998, AOL Members' Choice, a Webby Peoples' Voice
Award, and The 1999 GLAAD Internet Leadership Award.
Prior to joining
PlanetOut, Smith was one of the first employees at General Magic,
where she led the mechanical engineering, managed product development
and strategic alliances, closed software and hardware licensing
deals, and equity investments.
Previously, Megan worked at Apple
Computer Japan in Tokyo, and holds a B.S. and M.S. in mechanical engineering from the MIT, where her work included 2 years
at MIT's Media Lab. She served on the Board of Trustees of M.I.T. for
five years and was a member of the MIT-Solectria student team who
designed, built and raced a solar car in the first Cross-Continental
Solar Car race, 2000 miles across the Australian Outback. Over the
years, Megan has designed an award-winning bicycle lock, worked as
part of the team on a Space Station engineering construction
experiment that eventually flew on the U.S. Space Shuttle, and run a
field research study on solar cook stoves in Ecuador and Bolivia."
What was your first job and what did you learn from it?
In 6th & 7th grade, I delivered "The Courier Express" which was the
morning paper in Buffalo, NY - 5:55 a.m., 7 days a week, through the
Buffalo summer and winter. It was a great experience of learning
customer service, basic financials, managing a small team on Sundays,
general responsibility and reliability, and how to make a bunch of money
for camp!
I also sold millions of things via school fund raisers; at one point I
remember I was simultaneously selling fruit, candy bars, kindling wood,
candles, light bulbs, seeds, and magazine subscriptions for various
clubs, sports, youth group, and other activities.
Who is your hero, mentor or person you most admire? Why?
I admire Nelson Mandela, Jimmy Carter, my partner Kara and my parents ...
all of them are persistent, successful and are great at working to change
things for the better from the inside.
What is your favorite book?
That's a tough question...I love Tom Stoppard's "Arcadia," John
Steinbeck's "Cannery Row," the kids books "Stellaluna" by Janell Cannon,
Vonnegut, many recent business books, and most of my school books K
through college, especially physics and mechanics (!)
What advances in your field do you envision over the next 10 years?
Persistent access to the Net. The ability to always be connected will
have profound effects on individuals, families, society, the
nation-state and the world.
What do you see as the single most interesting element of your work?
I love how so many things come together via PlanetOut. For our
customers, we reduce isolation and improve lives with community,
entertainment, information and products people can't get other places.
At the same time, we are building a business - this is the first time we
can build a media company of scale for the gay and lesbian community. Gay
and lesbian consumer buying power is $450 billion in the US alone, and is a
totally underserved and hard-to-reach market outside Internet.
PlanetOut is the first company in history that serves the gay and lesbian
community to have venture funding. And PlanetOut represents the first time
we can build a large, profitable, high-quality business for gay and
lesbian customers because the Internet is the first time we can reach our
the majority of our customers in a cost effective way.
What do you consider to be your greatest accomplishment?
Keeping the company alive, despite inheriting it after it bought out one
of the most famous venture capitalists in the Silicon Valley, back in early
1997.
What was your greatest challenge and what did you learn from it?
I think it will be in the future, today we face 2% hate email and 40%
love email at PlanetOut. I expect as we become more and more successful
as a company serving our customers, this will push some people's buttons.
I figure most people who have a problem with the gay community, are
having major internal struggles or confusion
around lack of exposure. So, my largest challenge I think we be
patience and persistence, and compassion in spite of adversity, while we
build this amazing company.
What strategies do you use to maintain balance in your life?
I think there are two important things to do. First, it's critical to
love what you do and work with people you like and respect, because work
takes so much of your time. Second, build a family, or make sure you
create other interests outside of work that you also care about a lot, so
that you have a reason to do other things beyond work. Take time with
other people, schedule it. And also figure out how to integrate work time
and home time. I have an incredible partner, we both work too much, but
we also have incentive to spend time together building our family and
home.
What advice would you give to young women who want to enter your field?
I'm a fan of choosing steep learning curves, big challenges, and focusing
on things that interest you. Take on responsibilty, follow through, be a
self-starter, speak up, be known as reliable, resourceful and flexible.
When you start projects, think about how you want to define success and
then measure all along the way so you can chart progress, and change
course quickly if needed. Listen. Focus on having a great batting
average, not doing everything perfectly. Ask people for help and advice,
many people. Also, if people treat you poorly, go somewhere else. Life
is too short to put up with ridiculus behavior. I took acousitics from
Professor Bose at MIT, he had great advice, which was to keep your bags
packed, not that you should walk away from challenge, but if anyone
ever asks you to compromise your integrity, go work with other people. I
agree with him.