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I by IMD Podcasts

Katarina Bonde: Are you scaling, or just burning cash?

March 4, 2026 • by Michael R. Wade in I by IMD PodcastsPodcast availablePodcast available

Tech executive Katarina Bonde on scaling responsibly, navigating investor tensions, and staying pragmatic in the current AI bubble....

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Scaling a company is not about chasing headlines. It’s about proving customers care.

 

In this episode of I by IMD, Katarina Bonde shares hard-earned lessons from decades in venture-backed tech, board leadership, and global scale-ups. She challenges founders to validate demand before celebrating growth: “If no one is… spending money to buy it, you actually don’t have a product.”

Bonde, who served as board chair and CEO in various venture-backed tech firms across the US and Europe, also reframes the AI discussion. The opportunity isn’t in the current bubble, but in the smart use of data – “the real gold here.”

For rapid-growth startups, so-called scale-ups, who are tempted to prioritize land grabs over margins, Bonde offers a grounded reminder: “You have to show that you have a business model that can pay for itself.”

Expert

Katarina G. Bonde

Technology Executive and Board Chair

Katarina G. Bonde served as Chair of companies including Mentimeter, Stillfront Group, and others in Sweden’s digital ecosystem. She also served as an executive in various venture-backed tech firms in Europe and the US and is an active angel investor.

Authors

Michael Wade - IMD Professor

Michael R. Wade

Professor of Strategy and Digital

Michael R Wade is Professor of Strategy and Digital at IMD and Director of the Global Center for Digital and AI Transformation. He directs a number of open programs such as Leading Digital and AI Transformation, Digital Transformation for Boards, Leading Digital Execution, Digital Transformation Sprint, Digital Transformation in Practice, Business Creativity and Innovation Sprint. He has written 10 books, hundreds of articles, and hosted popular management podcasts including Mike & Amit Talk Tech. In 2021, he was inducted into the Swiss Digital Shapers Hall of Fame.

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