Sam Reich

We just didn't succeed spectacularly either.

We had like seventy five thousand subscribers at the end of year one.

I think they were hoping for like double that number.

They tried to sell us, but we looked very bad on paper because we had just burned through their whole investment.

So a lot of people were interested at first, and then they saw the amount of money we were losing and the business plan, which had us losing even more money before turning profitable.

And they all dropped out one by one, leaving me.

Leaving you.

I find it very funny when like there's there's a certain soundbite on the Internet that's like Sam used his dad's money to come and buy Dropout.

Which is very funny in the context of my dad being the inequality guy.

Yes, under Clinton, which, as we all know, labor secretary is the most lucrative profession that you could possibly imagine.

Yes, yes, yes, yes.

And does it very well.

He's very talented.

So I went and I offered IAC zero dollars, which was the amount of money I had to offer him.

There was another offer for three million bucks, but it would have gone to a competitor.

They would have fired everybody and taken the assets and see what they could do with them.

And I think that they liked the idea of gambling.

Oh, sorry.

So my offer was zero dollars.

They would end up in the minority, the minority stakeholder.