J. Cal

There were like key moments you determined would equal success. And then Zuckerberg yourself and that early crew were able to obsess over those. So maybe you could talk about Zuckerberg's ride to getting the first, you know, whatever, 10 million people on the product, but then 10 million to a billion.

There were like key moments you determined would equal success. And then Zuckerberg yourself and that early crew were able to obsess over those. So maybe you could talk about Zuckerberg's ride to getting the first, you know, whatever, 10 million people on the product, but then 10 million to a billion.

Yeah, I think it's well said. There's another good book before we go on to our next subject. Patrick Lanzioni, I'm sure some of you have read The Five Dysfunctions of a Team, but he kind of got into early this sort of ability to be unliked inside of a company.

Yeah, I think it's well said. There's another good book before we go on to our next subject. Patrick Lanzioni, I'm sure some of you have read The Five Dysfunctions of a Team, but he kind of got into early this sort of ability to be unliked inside of a company.

And I think I highly recommend the book because it really talks about this sort of fear of conflict and avoidance of accountability and inattention to results, which is kind of the underpinnings of, I think, what Paul was getting to with founder mode. Okay, great discussion, everybody. Speaking of founder mode, I mean, this story keeps coming back. Ryan Breslow is back in the news.

And I think I highly recommend the book because it really talks about this sort of fear of conflict and avoidance of accountability and inattention to results, which is kind of the underpinnings of, I think, what Paul was getting to with founder mode. Okay, great discussion, everybody. Speaking of founder mode, I mean, this story keeps coming back. Ryan Breslow is back in the news.

We talked about this company before. Breslow is the founder of a company called Bolt. That's a payment startup. And I have to set the story up in a couple of acts here. Saxon and I have been following it for a while. Bolt was a payment startup. They did one-click checkout products. If you don't know the one-click,

We talked about this company before. Breslow is the founder of a company called Bolt. That's a payment startup. And I have to set the story up in a couple of acts here. Saxon and I have been following it for a while. Bolt was a payment startup. They did one-click checkout products. If you don't know the one-click,

Amazon had a patent for this for a while it came out of it came out of patent protection, everybody sort of jumped on it, their shop pay by Shopify, you probably have experience, you buy something at one store, and then you log into another store with your phone number, it has all your credentials, you've been cookied.

Amazon had a patent for this for a while it came out of it came out of patent protection, everybody sort of jumped on it, their shop pay by Shopify, you probably have experience, you buy something at one store, and then you log into another store with your phone number, it has all your credentials, you've been cookied.

And that basically takes out the friction, and allows you to make a purchase at another vendor without having to put in all your credentials and credit card and everything. So Bolt makes that through an API for different shops online. They generated $27 million in revenue on a $300 million loss last year. They get 2% to 3% commission when they sell something.

And that basically takes out the friction, and allows you to make a purchase at another vendor without having to put in all your credentials and credit card and everything. So Bolt makes that through an API for different shops online. They generated $27 million in revenue on a $300 million loss last year. They get 2% to 3% commission when they sell something.

Anyway, we talked about Bolt back in January 2022 because they had raised at an extraordinary valuation, $355 million at an $11 billion valuation, 366 times revenue sacks. I guess we missed those. Then Breslow made waves on Twitter by calling Stripe and YC the mob bosses of Silicon Valley. He alleged they were kind of acting in cahoots to keep people from using Bolt.

Anyway, we talked about Bolt back in January 2022 because they had raised at an extraordinary valuation, $355 million at an $11 billion valuation, 366 times revenue sacks. I guess we missed those. Then Breslow made waves on Twitter by calling Stripe and YC the mob bosses of Silicon Valley. He alleged they were kind of acting in cahoots to keep people from using Bolt.

And he claimed YC was skewering rankings on Hacker News, all this other stuff. Anyway. It's been two and a half years since we talked about this craziness at Bolt. And Breslow stepped down as CEO after posting that thread. He was accused of overstating Bolt's customers and technical capabilities to investors while raising money. That got probed by the SEC. They didn't take any action.

And he claimed YC was skewering rankings on Hacker News, all this other stuff. Anyway. It's been two and a half years since we talked about this craziness at Bolt. And Breslow stepped down as CEO after posting that thread. He was accused of overstating Bolt's customers and technical capabilities to investors while raising money. That got probed by the SEC. They didn't take any action.

And then their valuation was slashed 97% to $300 million earlier this year. That's where the story had ended until just last week when an insane story came out that Bolt's interim CEO, not Breslow, had emailed investors informing them out of the blue that they were going to raise $450 million at a $14 billion valuation. This came as a surprise to investors.

And then their valuation was slashed 97% to $300 million earlier this year. That's where the story had ended until just last week when an insane story came out that Bolt's interim CEO, not Breslow, had emailed investors informing them out of the blue that they were going to raise $450 million at a $14 billion valuation. This came as a surprise to investors.

They didn't know this was happening, according to reports, and that this deal would put Breslow back in charge as CEO. It was confusing to all the investors, and they've all started to lawyer up and try to figure this out. Here's what we know so far. Bolt is on pace to generate $28 million in revenue this year, roughly the same as 2021.

They didn't know this was happening, according to reports, and that this deal would put Breslow back in charge as CEO. It was confusing to all the investors, and they've all started to lawyer up and try to figure this out. Here's what we know so far. Bolt is on pace to generate $28 million in revenue this year, roughly the same as 2021.