I am still stunned by founder dilution in capital intensive startups.

DoorDash CEO Tony Xu owns only 4.4% of the business.
Stop commenting: “it’s still a lot of money”.


That. Isn’t. The. Point.
“Morning Brew cofounder goes on angry tirade after half of Twitter explain math to him”

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More from @austin_rief

1 Sep
1/ Last week @morningbrew hit 1 million unique daily opens.

We did it through:

- Incredible content
- Intense Focus
- A few marketing insights
- A little help from Jeff Bezos

Here is how we did it (thread)
2/ To start, our writers are absolutely incredible.

@Neal_Freyman is our content anchor, leading an incredibly talented team.

None of this growth would have happened if we didn't have the best content.
3/ Our content insight was simple

Create an email that was meant to be read *in email*

In 2015, almost every publisher @BUSlNESSBARISTA and I studied used email to drive traffic to their site.

We thought this is somewhere we could create a differentiated product - and we did
Read 15 tweets
16 Jun
1/ Running a small bootstrapped startup requires you to find arbitrage in hiring.

The only way for us to succeed was finding talent that the market was undervaluing.

At @MorningBrew, we looked for the most curious people we could possibly find.
2/We didn’t have the capital or prestige to hire “A players”

Therefore we searched for ppl who had taught themselves something from scratch — People who had learned how to code on their own, or who had multiple self-taught skills, even if those skills were irrelevant to the job
3/ this led to a small group of ppl who were willing to do whatever it took to succeed

They may spend a weekend on YouTube learning salesforce, or go the extra mile to ensure our newsletter looked perfect.

I call these people grinders. Every startup needs grinders to succeed
Read 4 tweets
6 Jun
What's the future of Peloton?

@howardlindzon has me thinking. Could Peloton become a clothing company A media company? I think both are very possible.

Currently Peloton only makes ~1% from branded apparel and 0% from media revenue.

I expect that to change drastically.
That is such a compelling ad proposition.

Complete attention on a screen for 20-60 minutes. You can't get that anywhere else.

And the customer is VERY valuable.
. @profgalloway speaks about Peloton's gross margins. Imagine when they add an ads business on top of this. Margins go through the roof.
Read 4 tweets
10 May
If you aren't the best in the world at what you write about, you should not have a strictly paid newsletter.

You are better off using a newsletter as your top of funnel to drive people to other monetization opportunities.
1/n Clearly this was more controversial than I thought, so let me clarify my thoughts:
2/ First, let me start off with what i am NOT saying:

I am not saying if your content is not good enough for people to pay for it, you should not write on the internet. In fact, I am a huge proponent of the opposite. Write! Content is incredibly powerful.
Read 12 tweets
14 Apr
1/ Exciting news: We hit 2 million subscribers!

Within 2 weeks of reaching our fifth birthday and 14 months after hitting 1 million, we hit 2 million.

A little history lesson and reflection on @MorningBrew 👇
2/ My cofounder @BUSlNESSBARISTA and I started Morning Brew five years ago with a simple idea—to make business news more interesting for young people.

People wanted something better to keep them informed, so he created a daily newsletter that later became Morning Brew.
3/ We began with two guiding principles:

1. We wanted to write our newsletters in a conversational tone.
2. We wanted to write for intellectually curious readers.

Turns out, that was a pretty good recipe.
Read 10 tweets

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