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Blake Hall

👤 Person
540 total appearances

Appearances Over Time

Podcast Appearances

Invest Like the Best with Patrick O'Shaughnessy
Blake Hall - Combat, Service, and Innovation - [Invest Like the Best, EP.408]

And it's why I started ID.me because I felt like it was a worthy mission to improve people's lives. I didn't know it would grow to become a multi-billion dollar company like it is today. I just wanted to help the military community that I came from to start. But that's the bridge for how I got from the military to running this technology company.

Invest Like the Best with Patrick O'Shaughnessy
Blake Hall - Combat, Service, and Innovation - [Invest Like the Best, EP.408]

And it's why I started ID.me because I felt like it was a worthy mission to improve people's lives. I didn't know it would grow to become a multi-billion dollar company like it is today. I just wanted to help the military community that I came from to start. But that's the bridge for how I got from the military to running this technology company.

Invest Like the Best with Patrick O'Shaughnessy
Blake Hall - Combat, Service, and Innovation - [Invest Like the Best, EP.408]

First thing, I just want to be honest here. I had no idea what I was doing. All I knew is I spent a summer at McKinsey and the McKinsey people were wonderful, built a business model. The first phone call at this telecom company, they say $17 million. And I went home that night and I was like, I don't care. It didn't move the needle at all. So a few things happened.

Invest Like the Best with Patrick O'Shaughnessy
Blake Hall - Combat, Service, and Innovation - [Invest Like the Best, EP.408]

First thing, I just want to be honest here. I had no idea what I was doing. All I knew is I spent a summer at McKinsey and the McKinsey people were wonderful, built a business model. The first phone call at this telecom company, they say $17 million. And I went home that night and I was like, I don't care. It didn't move the needle at all. So a few things happened.

Invest Like the Best with Patrick O'Shaughnessy
Blake Hall - Combat, Service, and Innovation - [Invest Like the Best, EP.408]

I saw that there was this need for a better solution for the military community. I started to dig into that. I naively did this as an academic project my second year at business school. I said, let's incorporate. I'll solve this problem. It'll be easy. And then I'll be on with my life. Literally looking back.

Invest Like the Best with Patrick O'Shaughnessy
Blake Hall - Combat, Service, and Innovation - [Invest Like the Best, EP.408]

I saw that there was this need for a better solution for the military community. I started to dig into that. I naively did this as an academic project my second year at business school. I said, let's incorporate. I'll solve this problem. It'll be easy. And then I'll be on with my life. Literally looking back.

Invest Like the Best with Patrick O'Shaughnessy
Blake Hall - Combat, Service, and Innovation - [Invest Like the Best, EP.408]

couldn't have known less about what it means to run and start a company and to make sure that it is built to last. And so a few things happened. One, this is more the luck part of it. My brother insisted on investing $20,000. And I love my older brother. He's just like the hardest working guy. He works his tail off. And I actually begged him not to. I said, please do not invest money, Russ. No.

Invest Like the Best with Patrick O'Shaughnessy
Blake Hall - Combat, Service, and Innovation - [Invest Like the Best, EP.408]

couldn't have known less about what it means to run and start a company and to make sure that it is built to last. And so a few things happened. One, this is more the luck part of it. My brother insisted on investing $20,000. And I love my older brother. He's just like the hardest working guy. He works his tail off. And I actually begged him not to. I said, please do not invest money, Russ. No.

Invest Like the Best with Patrick O'Shaughnessy
Blake Hall - Combat, Service, and Innovation - [Invest Like the Best, EP.408]

And he insisted on it. And I was like, do you know what this is going to do to my stress level? I was like, I've been a lifeguard and I've gotten shot at and I've mowed some lawns. Don't do this. He said something to me. He said, you've never failed in anything you've done in your life. I was like, that's so messed up, man. But he insisted on doing it. So he invested a $20,000 check into me.

Invest Like the Best with Patrick O'Shaughnessy
Blake Hall - Combat, Service, and Innovation - [Invest Like the Best, EP.408]

And he insisted on it. And I was like, do you know what this is going to do to my stress level? I was like, I've been a lifeguard and I've gotten shot at and I've mowed some lawns. Don't do this. He said something to me. He said, you've never failed in anything you've done in your life. I was like, that's so messed up, man. But he insisted on doing it. So he invested a $20,000 check into me.

Invest Like the Best with Patrick O'Shaughnessy
Blake Hall - Combat, Service, and Innovation - [Invest Like the Best, EP.408]

David Tisch was one of our first checks in. He ended up becoming really impactful. So he's a box group, one of the best angel investors in the country, and then was the first managing director of Techstars New York. And what David Tisch did that I really am grateful for is I was talking more about business development and relationships.

Invest Like the Best with Patrick O'Shaughnessy
Blake Hall - Combat, Service, and Innovation - [Invest Like the Best, EP.408]

David Tisch was one of our first checks in. He ended up becoming really impactful. So he's a box group, one of the best angel investors in the country, and then was the first managing director of Techstars New York. And what David Tisch did that I really am grateful for is I was talking more about business development and relationships.

Invest Like the Best with Patrick O'Shaughnessy
Blake Hall - Combat, Service, and Innovation - [Invest Like the Best, EP.408]

And he pointed me to this book, Steve Blank, Four Steps to the Epiphany. He said, you really need to read this book to understand how to build a company. And it's wonderful. It's basically like the scientific method for how you build a company stage by stage. And he introduced me to some other folks. And one of my classmates invested $80,000 in me.

Invest Like the Best with Patrick O'Shaughnessy
Blake Hall - Combat, Service, and Innovation - [Invest Like the Best, EP.408]

And he pointed me to this book, Steve Blank, Four Steps to the Epiphany. He said, you really need to read this book to understand how to build a company. And it's wonderful. It's basically like the scientific method for how you build a company stage by stage. And he introduced me to some other folks. And one of my classmates invested $80,000 in me.

Invest Like the Best with Patrick O'Shaughnessy
Blake Hall - Combat, Service, and Innovation - [Invest Like the Best, EP.408]

What was pretty crazy is even like a year into it, as I was raising our angel round where we put together, I don't know, roughly a million dollars in a convertible note, I would continually have investors that listened to the pitch and they would say, I'm going to invest and I'm going to invest like 50K or 75K. And they would thematically tell me two things.

Invest Like the Best with Patrick O'Shaughnessy
Blake Hall - Combat, Service, and Innovation - [Invest Like the Best, EP.408]

What was pretty crazy is even like a year into it, as I was raising our angel round where we put together, I don't know, roughly a million dollars in a convertible note, I would continually have investors that listened to the pitch and they would say, I'm going to invest and I'm going to invest like 50K or 75K. And they would thematically tell me two things.

Invest Like the Best with Patrick O'Shaughnessy
Blake Hall - Combat, Service, and Innovation - [Invest Like the Best, EP.408]

They're like, I don't think because the initial name of IDMU is TroopSwap. They said, I don't think that this business model is going to be successful. But then they would say, I believe in you. So I'm writing the check. And then they'd be like, by the way, here's a picture of my daughter. This is her college fund. And it's like a baby.

Invest Like the Best with Patrick O'Shaughnessy
Blake Hall - Combat, Service, and Innovation - [Invest Like the Best, EP.408]

They're like, I don't think because the initial name of IDMU is TroopSwap. They said, I don't think that this business model is going to be successful. But then they would say, I believe in you. So I'm writing the check. And then they'd be like, by the way, here's a picture of my daughter. This is her college fund. And it's like a baby.

Invest Like the Best with Patrick O'Shaughnessy
Blake Hall - Combat, Service, and Innovation - [Invest Like the Best, EP.408]

I've just been fascinated by how big companies start. And all the big companies actually start in a pretty focused way. So Facebook started just for the Ivy Leagues first, and then students then grew up.

Invest Like the Best with Patrick O'Shaughnessy
Blake Hall - Combat, Service, and Innovation - [Invest Like the Best, EP.408]

I've just been fascinated by how big companies start. And all the big companies actually start in a pretty focused way. So Facebook started just for the Ivy Leagues first, and then students then grew up.