“How did they do that? How—did they get there?” Companies succeed because of the people who build them - operating leaders who grow businesses to new heights and make decisions every day that can impact entire industries. Each month, our Operator Spotlight gives you the inside track from one of our incredible Operator LPs (Limited Partners) who are changing the game – building and scaling some of the world’s most successful companies. Read on for lessons learned and mistakes made, perspectives from the top, practical advice, and ideas on what’s next.

This month, we chatted with Simona Jankowski, Chief Financial Officer at photonic computing company Lightmatter, which recently announced a $400M Series D at a $4.4B valuation. Simona joined Lightmatter earlier this year after almost seven years at chip giant NVIDIA, where she was the VP of investor relations and strategic finance. Prior to NVIDIA, Simona was a managing director at Goldman Sachs, where she led equity research for the hardware and communications technology sectors and managed the Global Investment Research office in San Francisco. With 20+ years of experience, Simona has a proven track record of nurturing investor relationships and managing financial strategies.

Congratulations on your new role as CFO at Lightmatter! What were some of the reasons it was the right moment for you to make the move?

Simona: It was a hard decision, as I love NVIDIA and never thought about leaving. I stayed at both of my prior companies for a very long time - 16 years at Goldman Sachs and 7 years at NVIDIA. While they are very different, they each felt like a second home at the time. Finding the right fit is very important - a place where you are inspired by your colleagues, you can do meaningful work, and find the conditions to grow and have an impact.

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Stepping into a CFO role was the natural next growth path. But more than that, Lightmatter presented a not-to-be-missed opportunity to join a transformational deep tech company and a brilliant team of scientists, inventors, and engineers who may well be laying the foundation for the next half-century in computing.

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What was it about Lightmatter that was particularly compelling, and what was it like to make the transition from a major public company to a Series D startup?

Simona: My background is in engineering and I have spent my entire career at the intersection of finance and tech - always on the ‘hard’ side of tech: semiconductors, networking, and hardware. This is an incredibly exciting time in the industry: the end of Moore’s Law coinciding with the rise of AI is driving a complete reinvention of the computing and networking stacks and at a furious pace.

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NVIDIA reinvented computing for the era of AI, and Lightmatter has the opportunity to do the same for networking. The biggest bottleneck in AI data centers today is the ability to connect massive numbers of GPUs and other high-performance chips at high speed. This is driving a transition from copper interconnects, which have been used for decades, to photonics that enable chip-to-chip communications over fiber. Lightmatter, founded by two of the preeminent minds in photonics from MIT,  is driving the photonic revolution in data centers.

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Surprisingly, transitioning from a giant company to a start-up was less jarring than I expected. NVIDIA and Lightmatter share the same ethos of brilliant minds pushing the limits of physics to advance technology. It’s incredibly inspiring and energizing to work beside them. Of course, start-ups carry orders of magnitudes more risk. As CFO, you feel that more viscerally than others. But this audacious drive for creation is the magic of Silicon Valley.

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When you joined NVIDIA in 2017, its market cap was around $117B, and today it’s over $3T and typically somewhere in the top three most valuable companies. So, safe to say, you have seen some things! What are some of the biggest lessons you experienced during NVIDIA’s meteoric rise? What were some of the biggest challenges you faced as a leader, and how did you overcome them?

Simona: Before you can build amazing products at scale, you have to build an execution machine. That takes relentless discipline and focus.

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Discipline can be something as simple as starting your day at 5 a.m., day in and day out, over decades. The compounding effects of those extra 3 hours of quiet time to work in the morning are astounding. But it extends to the bigger things, like consistently and methodically building processes that are not always glamorous but are the makings of a well-oiled machine.

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Focus is very difficult, in both personal and professional contexts, as the world is full of complexity, noise, and distractions. It means saying ‘no’ to most things - from events to product features to business opportunities. But for the things you say ‘yes’ to - you can build incredible conviction and have the time and resources to build a path to success.

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One of my biggest challenges was handling a workload that doubled and doubled again as the company grew more than 20X, with a relatively small team that didn’t grow anywhere near as fast. It took ruthless prioritization, effective communication (and a lot of work!). When the effort is directed efficiently, a small, cohesive team of strong players can run very fast.

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What are some practical tips for working at a company with such a huge spotlight on it and keeping your team focused?

Simona: It’s very important to be intentional about what you want to accomplish daily, and not let the influx of email, Slack, or news alerts dictate how you allocate your time. I always start the day with a list of must-do items and block time on my calendar dedicated to them.

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For keeping the team focused, my normal pace is a weekly meeting that aligns priorities for both the short and long term. On super busy days, especially when the unexpected happens or in a time crunch, I’ll send a quick mid-day email titled “Priorities for today” to help stay aligned. I’ll also proactively highlight deliverables that can be dropped or delayed.

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What are a few key pieces of advice you would offer to early-stage founders as they consider investor relations and analyst relations as part of their strategy?

Simona: As a former Wall St. analyst, I’m likely biased, but I think there’s great value for founders in building relationships with smart, seasoned investors and analysts. Many are in continuous conversations with CEOs and industry leaders and can have a unique and useful perspective. At IPO time, it’s helpful when the story is already well known and understood - especially if it’s a deeply technical one. I would focus on building fewer, deeper relationships vs. attending a large number of investor conferences - as most of the founders’  time should be spent on building!

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There are few topics as hotly debated as the semiconductor market and the future of AI! What are you most excited about, and what keeps you up at night, in this “new industrial revolution powered by AI”?

Simona: AI already feels magical. I’m excited to see many of the mundane workflows that people spend countless hours on get automated. The creativity and human potential unleashed will drive incredible acceleration in global growth and quality of life. Of course, I’m hopeful that AI can help prevent or find cures for many diseases, cancer in particular.

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I try not to worry about things outside my control - though there are plenty of dystopian sci-fi books and movies about our future AI overlords that can keep you up at night!

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How have you made a mark in your industry? What’s something you’ve done that’s perhaps counterintuitive in your field - broken any rules with interesting results?

Simona: I was probably one of the earliest analysts to make a move from Wall St. to a corporate finance role, and that raised a lot of eyebrows at the time. This type of career move has now gained incredible momentum, with many CFOs - including several of my former Goldman colleagues - having made a similar transition. CFOs today need to be strong strategic business partners, and a Wall St. analyst career is a great foundation.

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What’s a piece of advice you would give to yourself 10 years ago, if you had the opportunity?

Simona: Be kind(er) to yourself. Having a fast-paced career and raising a family simultaneously can be crushing, and it’s easy to put yourself last. But find time to pause or slow down… the journey is long.