"The greatest thing about being rich is that you don’t have to do business with people you like.’”" That was 'people you don't like' :)
Thanks, fixed.
The Most Memorable Quotes (I Could Capture) From Startup School 2012
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Re: The Most Memorable Quotes (I Could Capture) From Startup School 2012
#12Thanks Jason and everyone else updating us on Startup School 2012. Really good to still hear this stuff without actually being there.
I can just imagine how funny it must have been for Travis Kalanick to whip out the Uber revenue graph like that haha.
Re: The Most Memorable Quotes (I Could Capture) From Startup School 2012
#13Technology companies follow an extreme power law curve. Of all tech companies started in the US in any one year, around 15 ever generate $100M in annual revenue. Those 15 companies are ultimately be responsible for 97% of the market cap for all companies started that year. 15 companies! That’s way harder than making the NBA in any given year – most of you would never attempt such a difficult thing. And yet here you a…
100mm annual.
100mm lifetime is still one hell of an achievement, but I'd imagine significantly more reach it than 3%. Lots of B2B companies survive for a few years with 8 figure annual rev.
Re: The Most Memorable Quotes (I Could Capture) From Startup School 2012
#14Technology companies follow an extreme power law curve. Of all tech companies started in the US in any one year, around 15 ever generate $100M in annual revenue. Those 15 companies are ultimately be responsible for 97% of the market cap for all companies started that year. 15 companies! That’s way harder than making the NBA in any given year – most of you would never attempt such a difficult thing. And yet here you a…
The counter-complimenting (but not contradictory) point is that it's also true that you could create a business, especially a purely software-based business in terms of how it scales, and it could hit only say $1M or even $200k in revenue or profit each year, and that would be a huge success -- as long as you kept the team small, the ownership in your hands, etc., ideally as close to 1-2 people as possible even. Getting say $200k/year of mostly passive income would be a huge life-changing state of affairs. We don't all need to become GitHub or Pinterest or Facebook, etc. In business, a homerun is relative. FU money for a single founder with 100% ownership is pretty small in the grand scheme of things.
Re: The Most Memorable Quotes (I Could Capture) From Startup School 2012
#15I love Jason's Hen. Great site.
Re: The Most Memorable Quotes (I Could Capture) From Startup School 2012
#16I love Jason's Hen. Great site.
"I love Jason's Hen. Great site."
I didn't realize I had a chicken. Thanks =)