A Quote by Aaron Patzer
Carefully calculate the potential size of your market to make sure you can grow. Before starting Mint, I knew that there were about 20 million people who had purchased 'Quicken' or 'Microsoft Money' over the years, and 80 million people using online banking in the U.S. alone.
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We have made a commitment to feed 20-million people over the next two years. We are somewhere around 10 million. But I can promise you that we are not going to stop at 20 million. Because hunger, there is almost no cure for it. You can take care of the problem today, but it is a recurring problem.
A NASA-funded study estimates that if the price of a ticket to space approached $100,000, close to a million people would buy one. That's a $100 billion industry. Microsoft cofounder Paul Allen gave me $20 million in startup funding to go after that market.
As the stars make more and more money - one person gets $12 million, $14 million, $15 million, $20 million - everyone else is expected to work for peanuts. And that includes some extraordinary actors who are, today, working for peanuts because the production companies have decided they don't need to pay these people, and they don't.
When I said that something was going to cost a certain amount of money, I actually knew what I was talking about. The biggest problem that we were having on the financing front was people with lots of money saying "you need more money to make this film [Moon]," and us saying "no this is the first feature film we want to do it at a budget where we sort of prove ourselves at the starting end of making feature films; we can do this for $5 million." That is where the convincing part between me and Stuart came, we had to convince people with money that we could do it for that budget.
In Seoul, Korea one night I spoke to about 1.3 million people and over a million of them indicated salvation decisions. They had a philosophy. Many of the Korean pastors told me that many were not sure of their salvation.
It's all about special effects and explosions now. It leaves me just cold when I walk out of the theater. There's no heart; there's no soul. Movies used to be about people. It's as though we don't tell stories any more. The studios have to make money, and if you want to make $20 million, you have to spend $200 million.
By 2013, we had 200 million people using 'Instagram' every month and over 20 billion photos stored.
One million, two million, three million seems like a lot of money. But if you spend $80,000 a month, it's really nothing.
You can do the same thing with $20 million that you would do with $50 million. So at a certain point in your life and in your career, you realise that it's not about the money.
Before Mint.com, I was a long-time user of 'Microsoft Money' and Intuit's 'Quicken.' Both were powerful tools, loaded with features and functionality around taxes, investment, budgeting - too feature-laden, in fact. They took hours to set up, forever to learn, and an hour a week to maintain.
In 1970, there were approximately 330,000 prisoners in the US. Today there are 2.3 million behind bars - more than any country in the history of the world. In 2009 alone there were 1.6 million drug-related arrests in the U.S. 1.3 million of these were for possession of drugs alone. Over half were related to marijuana. The forty-year war on drugs has cost $2.5 trillion.
The idea of a company that's earning money, not losing money, that's not, let's say 'industrially endangered,' to have just cutbacks so they can earn another $12 million or $20 million or $40 million in a year where no one's counting is really a horrible act when you think about it on every level. First of all, it's certainly not necessary. It's doing it at the worst time. It's throwing people out to a larger, what is inevitably a larger unemployment heap for frankly no good reason.
We can still do a stop motion feature for about one-third of what it costs Pixar or DreamWorks or Blue Sky to make a feature. But nobody is interested in a film that cost $50 to 60 million with the potential to do $120 million. They want to risk big money to make huge money.
People don't own teams to lose money. If you ask any owner whether they would rather make $20 million and come in last place or lose $20 million and win a World Series, there's only one guy who honestly would take that championship: George Steinbrenner. Nobody else.
There are over a million people running around the United States that were born to parents just on Match.com alone, to say nothing of the other properties we run, so that's a million lives that our company just had a little to do with in bringing their parents together.
You can make a feature that makes millions but only so many people see it. With a hit TV show, every week you'll have 16 million - 20 million people watching you.
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