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Here’s a thread about the guy who rejected a 6B$ offer and then got sacked by his own company.
A
https://abs.twimg.com/emoji/v2/... draggable="false" alt="🧵" title="Thread" aria-label="Emoji: Thread">https://abs.twimg.com/emoji/v2/... draggable="false" alt="👇" title="Rückhand Zeigefinger nach unten" aria-label="Emoji: Rückhand Zeigefinger nach unten">
A
In just four years after it’s launch Andrew Mason turned his Wordpress blog into an empire only to have it slip through his fingers.
So here’s what Andrew didhttps://abs.twimg.com/emoji/v2/... draggable="false" alt="✍️" title="Schreibende Hand" aria-label="Emoji: Schreibende Hand">
He got a music degree.
Then realized he couldn’t make money with a music degree.
Decided to teach himself coding 1/https://abs.twimg.com/emoji/v2/... draggable="false" alt="🧵" title="Thread" aria-label="Emoji: Thread">
So here’s what Andrew did
He got a music degree.
Then realized he couldn’t make money with a music degree.
Decided to teach himself coding 1/
Got an internship designing websites, got pretty good at it.
Pitch the idea of a website to your coworker.
Go back to school to study politics a different trajectory all together.
Get a call back from that old Coworker, he likes the idea and wants to build on it. 2/https://abs.twimg.com/emoji/v2/... draggable="false" alt="🧵" title="Thread" aria-label="Emoji: Thread">
Pitch the idea of a website to your coworker.
Go back to school to study politics a different trajectory all together.
Get a call back from that old Coworker, he likes the idea and wants to build on it. 2/
A few weeks later raised a million dollars for your idea https://abs.twimg.com/emoji/v2/... draggable="false" alt="💰" title="Geldsack" aria-label="Emoji: Geldsack">
Takes a couple on months building and perfecting it.
Finally launches the idea, fails, starts panicking and pivots in desperation.
See that take offhttps://abs.twimg.com/emoji/v2/... draggable="false" alt="🚀" title="Rakete" aria-label="Emoji: Rakete">
Hire 1000 people over the next year.
Raise a billion $ 3/https://abs.twimg.com/emoji/v2/... draggable="false" alt="🧵" title="Thread" aria-label="Emoji: Thread">
Takes a couple on months building and perfecting it.
Finally launches the idea, fails, starts panicking and pivots in desperation.
See that take off
Hire 1000 people over the next year.
Raise a billion $ 3/
Take out 200million in the company for yourself and spend that.
Grow at insane rates, even faster than Facebook at a point. So yeah, that fast.
Receive a 2 B dollar bid from yahoo, reject that.
Receive another 6 B dollar bid from google , reject that also.
4/https://abs.twimg.com/emoji/v2/... draggable="false" alt="🧵" title="Thread" aria-label="Emoji: Thread">
Grow at insane rates, even faster than Facebook at a point. So yeah, that fast.
Receive a 2 B dollar bid from yahoo, reject that.
Receive another 6 B dollar bid from google , reject that also.
4/
Starts looking for methods to over inflate the value of the company, using a new accounting method to do so.
Gets the valuation to 30 Billion$
Any guesses as to who it is yet?
Get forced to do an IPO by your board.
Public hates you, worst CEO of the year. Stock tanks 80% 5/https://abs.twimg.com/emoji/v2/... draggable="false" alt="🧵" title="Thread" aria-label="Emoji: Thread">
Gets the valuation to 30 Billion$
Any guesses as to who it is yet?
Get forced to do an IPO by your board.
Public hates you, worst CEO of the year. Stock tanks 80% 5/
Get sacked and become a musician.
Meet Andrew Mason co-founder of Groupon.
So here’s why it failed, it was never supposed to take off in the first place, the model was flawed , it didn’t have an actual path to get bigger and profitable. Just a big pump and dump :/
Meet Andrew Mason co-founder of Groupon.
So here’s why it failed, it was never supposed to take off in the first place, the model was flawed , it didn’t have an actual path to get bigger and profitable. Just a big pump and dump :/
