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I'm surprised you're getting downvoted.

Having worked at several well funded startups and mentored or been involved with many more through founder friends around the accelerator in town, I completely agree. Especially at the early stage startups just don't have time for these formalities. Regular 1:1s are pretty much the best option.

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There might be a threshold for the number of employees before the formalities kick in? What would that be?

1 on 1 is definitely ideal until you find yourself not being able to spend time with everybody and so are the managers. Even more so when everybody keeps getting more other priorities to work on.

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