A Quote by Michael Arrington
That first company I started made a lot of money for the venture capitalists - nearly $30 million - but next to nothing for the founders. The companies I started after that varied between failures and mediocre successes. But at no point did I ever consider getting a 'real job.' That felt like a black and white world, and I wanted Technicolor.
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My first real venture was a paintball company I started in Grade 10, when I was 16. After hearing about it from a friend, I realized my town didn't have a playing field. I did some research, spoke with other paintball company owners, and I started my own field the following summer.
Harvard and Yale concentrated with venture capitalists that got the best calls and brainpower. Very few firms made most of the money, and they made it in just a few periods. Everyone else returned between mediocre and lousy. When returns happened, envy rippled through institutional money management. The amount invested in venture capital went up 10 times post-1999. That later money was lost very quickly. It will happen again. I don't know anyone who successfully resists this stuff. It becomes a new orthodoxy.
A startup job is an investment, after all: Venture capitalists may wager money, but you're staking something more precious - your time. And unlike VCs, you can't spread your risk by betting on a bunch of companies at once. Start with TAM. That's 'total addressable market,' and if it's not big enough, there's no point in talking.
I do a lot of damage to my hair every day because of my work. I just noticed this huge change. It started getting thinner and it started falling out. I hit 30, and I literally felt like I was balding!
When my family first moved to Hempstead in the 1960s, they were one of the first black families. It used to be an all-white neighborhood, but there was white flight when the black people with money started moving in. When I was, like, 13 or 14, Hempstead had just become all black, and the poverty became worse and worse.
Back in the late 1990s, venture capitalists got very excited about the Internet. A whole lot of money was poured into some companies that failed rather spectacularly, and a lot of people lost a lot of money.
In Paris in the late '40s, I started making my first reliefs. They are separate panels. I wanted to do something coming out of the wall, almost like a collage. I did a lot of white reliefs when I started because I liked antique reliefs, really old stuff.
My goal when I started out was to get to the point where I could tour a lot and make a living, which means getting paid enough to hire my own band, travel and end up with a bit of money, but I'm still nowhere near that point. Because I didn't have a band and fan base when I started, I did everything backward.
I found it very helpful not to do the venture round. Instead, I started with very little money, a few thousand dollars, and I did every job myself. I was the first photographer. I was the first customer service rep. I was the first online marketing person.
I feel that the best companies are started not because the founder wanted a company but because the founder wanted to change the world... If you decide you want to found a company, you maybe start to develop your first idea. And hire lots of workers.
It's a weird profession, as I don't really consider myself an actor. I did at one point, and I went and started doing auditions, and I was so useless at them and so demoralised by doing audition after audition and not getting them and also not being able to take it in my stride at all. I just felt crushed and worthless.
When I first started dating my husband, I had this weird fascination with the circus and clowns and old carnival things and sideshow freaks and all that. About a month after we started dating, he bought me this amazing black-and-white photo book on the circus in the 1930s, and I started sobbing.
When I made it to the pros I wanted to be a guy who could stay in the league, be OK, do whatever I had to do to make some money and do what I do. As the years started coming, I started getting better.
If you look at companies like Twitter, Google, all these companies started with ideas and then everybody used it. In my world, people don't think like that. Rappers chase the next check. They become a slave to labels and eventually that money starts shrinking.
When we first started Glitch, there were four co-founders of the company. We built Flickr and worked together at Yahoo and then started Tiny Speck. We were split in Vancouver, New York, and San Francisco. So we used an old chat technology called IRC. Almost nothing went through email.
I think that Google has definitely influenced my moral values and the ethics. I think when Larry Page started the company, they weren't in it for the money. They started it because they really wanted to create something that; one, they wanted, and two, they thought was going to change the world.
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