Andrew Wilkinson Profile picture
Dec 2, 2020 7 tweets 2 min read Read on X
In 2013 I got a call from @stewart.

His gaming startup, Glitch, had failed.

He seemed gutted. They had burned through millions and laid off their entire staff.

He had an idea he wanted us to help with.

A last ditch effort to get his investors money back...
It was an IRC-inspired chat app.

Womp womp.

There were already similar chat products like Campfire and HipChat.

I didn’t have the heart to tell him, but it seemed like a “me too” product.

I didn’t really get it. I thought it had low odds of success...
They called it “Slack” internally.

He hired @Metalab to help turn it into a launchable product.

Because of the situation, he could only afford to pay us $60,000 to do everything.

For a logo, marketing site, mobile and web apps—the works.

medium.com/@awilkinson/sl…
He offered equity, but I pushed for cash.

When you run an agency, cash is king. 9 times out of 10, startup equity turns out to be toilet paper that can’t pay people’s salaries.

We were small and running month to month. I had people to pay...
We worked like crazy and did our best to set it apart.

We tried to make Slack feel fun and different from other products. Like a video game.

The team hit it out of the park and defined the DNA of what became a smash hit.

Much of the original design still defines the product
MetaLab was the first beta user.

There was something addictive about it.

It was fun to use for some reason. Better than the other products.

But I didn’t invest. I felt the writing was on the wall.

Tough market. Established competition. Etc...
I’d played it conservative and taken the cash.

It’s never obvious.

Even when you’re on the ground floor.

That was dumb:

techcrunch.com/2020/12/01/sal…

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More from @awilkinson

Mar 28, 2023
Every once in a while someone launches a business and I think "fuck, why didn't I do this first?"

Sam just launched what I think will be one of the most quietly successful, profitable, and simple businesses in the world.

Here's why I'm jealous:
✅ Perfect audience alignment (successful entrepreneurs)

✅ Relatively simple to operate

✅ High switching costs (once you're in with and trust a group, you aren't going anywhere)

✅ Huge CLTV ($10,000+/year)
✅ Recurring revenue

✅ Can build tons of other revenue lines (events, directory, apps, Coworking, etc) over time
Read 4 tweets
Mar 4, 2023
Here's a big list of incredible Charlie Munger quotes from Buffett's annual letter.

"The world is full of foolish gamblers, and they will not do as well as the patient investor."
"If you don't see the world the way it is, it's like judging something through a distorted lens."

"All I want to know is where I'm going to die, so I'll never go there. And a related thought: Early on, write your desired obituary – and then behave accordingly."
"If you don't care whether you are rational or not, you won't work on it. Then you will stay irrational and get lousy results."

"Patience can be learned. Having a long attention span and the ability to concentrate on one thing for a long time is a huge advantage."
Read 9 tweets
Mar 3, 2023
It's tempting to panic about the impending AI revolution.

It will undoubtedly cause a massive amount of disruption.

But it's interesting to think about some of the industries that *should* have been disrupted by existing technology but haven't been...
For example, today, anyone can go on Wealthfront or WealthSimple and get every feature (and more) of a stock broker or "wealth manager."

Any investor with a brain, realizes that typically a wealth manager is just a very good sales person who knows very little about investing...
They build a "balanced portfolio" and "diversify" you, by....

Buying a bunch of ETFs and mutual funds.

This is precisely what Wealthfront and others offer.

Wealth managers charge 1-2%.

Wealthfront charges 0.25%

Let's imagine they manage $1 million for you...
Read 18 tweets
Feb 18, 2023
Companies are just groups of people.

So your company will not grow without the right group of people.

The problem is, if you haven't experienced the next level of scale before, you don't *know* what those people look like.

Inevitably you hire bozos...
...or worse, try to do it yourself badly.

You read a bunch of books about how to scale and manage a bigger company.

But lets be real:

It doesn't matter how smart you are, if you try to do anything for the first time, it usually sucks.
I see so many founders and CEOs make this mistake.

They grow like crazy, then plateau because of bad hires or because they won't hire people who have done it before.

I'm no better—I messed this up for 10+ years.

My approach is extremely simple...
Read 9 tweets
Feb 2, 2023
Something I've learned over and over again:

The road to hell is paved with good intentions.

If you give someone a chance to do something that is a big swing/has low probability of success, then you need to be 100% ready to have them hate your guts with a passion....
This is counter to what we want to believe.

We want to believe that people will respect us for taking a chance on them.

For seeing an opportunity. For doing something unique.

But the world doesn't usually reward that, it punishes.
People don't like to fail.

It's deeply uncomfortable.

So they craft narratives about why mistakes were made....

But not by them.

Often you become the target of that.

It would have worked if only you hadn't "X, Y, Z".
Read 14 tweets
Jan 11, 2023
Two years ago, my friend @MohnishPabrai (who taught me almost everything I know about investing) mentioned something bizarre:

He had hired a psychologist to deep dive on his life and rip it to shreds.

This guy interviewed his wife.
His co-workers.
And him, for hours and hours.
He said it profoundly changed his life.

So, I hired this guy, Dr. Jack Skeen.

He spoke with my closest friends, my wife, my co-workers, and we spent hours on the phone together.

He'd ask me weird uncomfortable questions like:

"Are you a good person?"
and

"What is your purpose?"

and

"Are you well liked?"

With long, awkward silences on the other end of the line to make me squirm, while he took notes.

I also did a series of multiple choice personality tests...
Read 16 tweets

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