From Serving in the Army to becoming a CEO with Ethena CEO Roxanne Petraeus
Summary
Key Insights
1. Great Leaders "Turn Down the Temperature.
A crucial lesson from military experience is that poor decision-making often happens under extreme stress. Great leaders possess the ability to turn down the emotional temperature in a room, a mindset Roxanne applies to managing the natural stress of fundraising, big deals, and being a founder.
2. Engagement Requires Hyper-Personalization.
Sending everybody the same generic 60-minute training module wastes time and kills engagement. Effective compliance training must leverage technology to be role-based and adaptive, ensuring employees only receive content relevant to their roles, seniority, and specific company risks (e.g., training only sales teams interacting with government officials).
3. Success is a Mix of Quantitative and Qualitative Listening.
Measuring training success requires more than just completion rates. GCs must be concerned if incident reporting is too low (suggesting fear or ignorance). Success metrics should combine:
- Quantitative: Employee rating/feedback (e.g., Yelp-style metrics surfaced after five minutes of training).
- Qualitative: Feedback from HRBPs/compliance ambassadors, and data fusion from employee hotlines and case management tools to track emergent issues.
4. The Budget Case: Time Savings and Regulatory Deference. To secure budget for high-quality training, link it directly to savings:
- Time: High-quality, personalized training can dramatically reduce employee "seat time," a strong pitch to engineering and sales leaders who hate wasting staff hours.
- Regulatory Risk: After a breach or regulatory issue (a "X million dollar experience"), demonstrating serious commitment to effective, modern training can provide significant leverage and deference with regulators.
5. Building Trust Means Knowing When to Say "No" to AI.
Selling AI tools to legal and HR requires building trust by being transparent about the risks. Athena gained credibility by resisting the urge to offer an AI-categorization feature for anonymous hotlines, acknowledging legal concerns around accuracy and privilege. They only embed AI where it adds measurable value, such as accelerating language translations
6. Closing Insight
Compliance training succeeds when employees are not just completing a module, but are truly enabled to spot risks and confident enough to report them—turning your legal department into the organization's collective nervous system.
In this podcast, we cover
0:00 Introduction
1:38 Finding the inspiration to serve in the military
6:49 Leaving McKinsey & Company to found Ethena
9:37 Scaling up content quality alongside technology
12:29 What companies are getting wrong about in-house training and how to make a change
14:27 Measuring the success of a new compliance training
17:43 Going beyond boring or cringy compliance trainings
21:48 Observing new trends in compliance training
24:26 Leveraging AI as the founder of a tech company
30:22 Comparing compliance issues and needs between small companies and enterprise clients
33:27 Mapping the future for Ethena
35:52 Favorite part of your day and pet peeves
37:33 Book recommendations
38:41 What you wish you’d known as a young founder
































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