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Gilt’s Susan Lyne at TheWrap’s Power Women Breakfast: ‘My Friends Thought I Was Out of My Mind’ (Video)

At TheWrap's 3rd Power Women breakfast, the ex-entertainment exec shared the thrill and peril of running an Internet start-up

You can get a first-hand look at some of the thoughtful and inspiring life lessons that Susan Lyne, the chairman of Gilt Groupe, shared at TheWrap’s 3rd annual Power Women breakfast on December 5 at the Hotel Bel-Air .

Speaking to a packed room of entertainment professionals, Lyne talked about leaving traditional entertainment to go run a fast-moving start-up — where she no longer gets her own office. Lyne joined Gilt in 2008 after exiting Martha Stewart Omnimedia. Before that she had been the president of ABC Entertainment and also the editor of Premiere magazine.

She talked about the challenges of running the e-commerce start-up – now making $500 million a year – and about the humbling experiences of being publicly fired (from ABC, but who remembers that?).

Also, how people thought she was nuts to join an Internet company. “No options,” she could practically hear them thinking. Have a listen, with thanks to our partner Entertainment Studios for all production, shooting and editing.