This company was just acquired by Zoom for ~$15B
Caveat: all-stock transaction.
Turned out to be a great get thanks to COVID.
I created a $350M software company knowing nothing about software (2015)
51–60 of 70 posts
Re: I created a $350M software company knowing nothing about software (2015)
#52> Knowing nothing about software. A few lines in: > I created a horse-racing simulation game in Applesoft BASIC in Manhattan Beach Middle School’s computer classroom and ran a small gambling operation. ... Ok.
I see nothing conflicting. "Software" is much more than just ability to write a small BASIC program. I have "been in software" for quarter of century and I am still constantly learning as if I was beginner. Though having been able to write even a small BASIC program may have had an effect of you appreciating the work of a developer just a tiny little bit. And this is not given -- I have seen in the past many CEOs hav…
> And this is not given -- I have seen in the past many CEOs having no appreciation whatsoever and this leads typically to disrupting developer work and underutilizing their abilities.
That was one of the reasons Microsoft, Google and Facebook grew so fast in the early days.
Re: I created a $350M software company knowing nothing about software (2015)
#53> Knowing nothing about software. A few lines in: > I created a horse-racing simulation game in Applesoft BASIC in Manhattan Beach Middle School’s computer classroom and ran a small gambling operation. ... Ok.
Compared to the engineers, it does sound accurate. I couldn't claim to know anything serious about medicine by reading Wikipedia compared to a practicing doctor. Disingenuous title? Well yeah. The author does sales.
> I couldn't claim to know anything serious about medicine by reading Wikipedia compared to a practicing doctor.
A basic understanding of biology beyond high school level will get you further than you think. Keep in mind the medical industry has a lot of artificial barriers and gatekeeping.
Re: I created a $350M software company knowing nothing about software (2015)
#54Someone always hits the lottery. The probability that it will be you is zero. Most people are much better served working for a company and punching the 9-to-5 clock--especially since startups nowadays rarely give contributors sufficient stock to make the risks worthwhile.
> especially since startups nowadays rarely give contributors sufficient stock to make the risks worthwhile.
All startups aren't created equal. Most startups aren't worth it. Unless the founder has a good background or showed he can raise capital, always go for consulting fees.
Re: I created a $350M software company knowing nothing about software (2015)
#55Earlier quoted context omitted.
The less sexy way of "making it big" is get a well paying, interesting but low stress job, live below your means, dollar cost average your way into an index fund. Instead of spending nights and weekends hacking away, spend it with your family or a hobby...become a guaranteed millionaire . $20k invested per year, 8% average yearly return, 30 year growth = $2.5mill. YMMV based on tweaking those numbers
You make it sound like getting a well paying, interesting, low-stress job is a total cake walk. For most of us it's not. I also love how someone inevitably trots out the "just invest $ at % for ". Nothing is giving you guarenteed 8% post tax returns, and you might want to, I don't know, buy a house in the next 30 years.
Genuinely curious...Why is it that "most of us" it's not? Because you don't like in the US? Or you live in an area w/ limited tech jobs? Or is it that you believe that all 3 criteria is unattainable?
8%...how is that over 30 years unrealistic? That is the historical going rate for the S&P since its inception...
Also I don't know why you threw in the words "post tax" as if it means something for dollar cost averaging. If you dollar cost average the S&P...even in a taxable brokerage account...the only thing you're taxed on is dividends. Your gains compound tax free....If you throw it in a 401k, where the max individual contribution is $19500 then nothing is taxed till you withdraw.
My example of $20k is drawn from a max of $19500 contribution (and hopefully you get employer matching) because ideally you are maxing out a 401k to get the tax benefits.
Re: I created a $350M software company knowing nothing about software (2015)
#56This is a kind of writing I think of as Silicon Valley mythos - in it, a plucky entrepreneur, a lucky angel investor and a hacker get together, and fail their way into an IPO. At the end they tell the reader he just needs to believe in himself more, and the SV myth will come true for him. There’s a lot of hate in the comments here, but I am personally more equivocal - it is definitely true that absolutely no centimil…
>I prefer the grittier SV myth stories a-la Ben Horowitz which mention all the times you’re vomiting in your bathroom...
"There were so many depressing nights alone that often I would watch my favorite movie, The Shawshank Redemption, over and over, mindlessly."
Re: I created a $350M software company knowing nothing about software (2015)
#57This is a kind of writing I think of as Silicon Valley mythos - in it, a plucky entrepreneur, a lucky angel investor and a hacker get together, and fail their way into an IPO. At the end they tell the reader he just needs to believe in himself more, and the SV myth will come true for him. There’s a lot of hate in the comments here, but I am personally more equivocal - it is definitely true that absolutely no centimil…
every sewage system has a diamond ring somewhere in it, and everyone thinks when itsmfound, that proves the market for diamond rings
Re: I created a $350M software company knowing nothing about software (2015)
#58It's not clear what this person actually did. It sounds like it's his employees/partners did all the work.
The others were diggers, he told them where to dig.
And he went and bought the shovels for all.
Abd he got the money for the permits and the bureaucracy.
And he actually motivated everyone to dig in the exact place they did.
Re: I created a $350M software company knowing nothing about software (2015)
#59This company was just acquired by Zoom for ~$15B
Caveat: all-stock transaction.
$15B in all stock = $15B in collateral = as much cash as you can conceivably wish for in your wildest dreams.
"Hey, bank manager, I have $15B in stocks, will you loan me $150 million to buy this really, really nice home in Malibu?"
Bank manager: "Yesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyesyes"
Re: I created a $350M software company knowing nothing about software (2015)
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