Steven Galanis

Instead of buying cameos, they were going to the restaurant. It was revenge spending. Going to Mykonos and Ibiza. People used to go to Europe once a summer and now I feel like you watch Instagram and people are there four or five times. It's crazy, right? But people started clearly spending money differently and our core business took a big hit in that period. Our core business dropped by over 50%.

Instead of buying cameos, they were going to the restaurant. It was revenge spending. Going to Mykonos and Ibiza. People used to go to Europe once a summer and now I feel like you watch Instagram and people are there four or five times. It's crazy, right? But people started clearly spending money differently and our core business took a big hit in that period. Our core business dropped by over 50%.

Now when you're

Now when you're

Now when you're

when your revenue is dropping by 50 percent and you're incubating a bunch of new things but the core business the core money maker is going down faster than the new things are growing and your you know your opex has increased by three four x right that is not good math right and in fact at that point suddenly you go from being a profitable company and in our case we were burning like six million dollars a month you know and that ended up being

when your revenue is dropping by 50 percent and you're incubating a bunch of new things but the core business the core money maker is going down faster than the new things are growing and your you know your opex has increased by three four x right that is not good math right and in fact at that point suddenly you go from being a profitable company and in our case we were burning like six million dollars a month you know and that ended up being

when your revenue is dropping by 50 percent and you're incubating a bunch of new things but the core business the core money maker is going down faster than the new things are growing and your you know your opex has increased by three four x right that is not good math right and in fact at that point suddenly you go from being a profitable company and in our case we were burning like six million dollars a month you know and that ended up being

And you just kind of wake up and it can happen. And in our case, it literally happened like that. It happened so fast. So then at that point, Als Leitungsgruppe haben wir angefangen zu überlegen, was wir tun sollten, wenn wir alles wegwerfen und von einer Zero-Base-Budgeting-Approach anfangen. Was müssen wir tun, um in der Spielzeit zu bleiben?

And you just kind of wake up and it can happen. And in our case, it literally happened like that. It happened so fast. So then at that point, Als Leitungsgruppe haben wir angefangen zu überlegen, was wir tun sollten, wenn wir alles wegwerfen und von einer Zero-Base-Budgeting-Approach anfangen. Was müssen wir tun, um in der Spielzeit zu bleiben?

And you just kind of wake up and it can happen. And in our case, it literally happened like that. It happened so fast. So then at that point, Als Leitungsgruppe haben wir angefangen zu überlegen, was wir tun sollten, wenn wir alles wegwerfen und von einer Zero-Base-Budgeting-Approach anfangen. Was müssen wir tun, um in der Spielzeit zu bleiben?

Und über drei wirklich schmerzhafte Zähne haben wir die Firma von 437 Leuten bis zu 35 genommen. Oh, did that by exiting business lines and getting out of international markets. But what did we end up doing? Our best people suddenly were for the first time in like five years all working on the main thing. Right.

Und über drei wirklich schmerzhafte Zähne haben wir die Firma von 437 Leuten bis zu 35 genommen. Oh, did that by exiting business lines and getting out of international markets. But what did we end up doing? Our best people suddenly were for the first time in like five years all working on the main thing. Right.

Und über drei wirklich schmerzhafte Zähne haben wir die Firma von 437 Leuten bis zu 35 genommen. Oh, did that by exiting business lines and getting out of international markets. But what did we end up doing? Our best people suddenly were for the first time in like five years all working on the main thing. Right.

And keeping the main thing, the main thing ended up being absolutely critical to us doing something that, you know, I think Elon has had to do at Twitter, like bringing the headcount down so drastically. But it works because all the best people were working on the biggest problem. Und das war eine wirklich schmerzhafte Lektion, die diese Firma gelernt hat.

And keeping the main thing, the main thing ended up being absolutely critical to us doing something that, you know, I think Elon has had to do at Twitter, like bringing the headcount down so drastically. But it works because all the best people were working on the biggest problem. Und das war eine wirklich schmerzhafte Lektion, die diese Firma gelernt hat.

And keeping the main thing, the main thing ended up being absolutely critical to us doing something that, you know, I think Elon has had to do at Twitter, like bringing the headcount down so drastically. But it works because all the best people were working on the biggest problem. Und das war eine wirklich schmerzhafte Lektion, die diese Firma gelernt hat.

Aber als wir wieder aufbauen, hat es mein Geschäftsteam gemacht, viele von denen, die Nummer drei oder Nummer vier in der alten Welt waren, wie die Leute, die noch hier sind. Sie sind so, wenn es ein neues schwarzes Objekt gibt, um es zu fangen. Diese Schmerzen sind da, diese Lessons. Es ist so, dass diese Firma Grit hat. Das sind Überlebende.

Aber als wir wieder aufbauen, hat es mein Geschäftsteam gemacht, viele von denen, die Nummer drei oder Nummer vier in der alten Welt waren, wie die Leute, die noch hier sind. Sie sind so, wenn es ein neues schwarzes Objekt gibt, um es zu fangen. Diese Schmerzen sind da, diese Lessons. Es ist so, dass diese Firma Grit hat. Das sind Überlebende.

Aber als wir wieder aufbauen, hat es mein Geschäftsteam gemacht, viele von denen, die Nummer drei oder Nummer vier in der alten Welt waren, wie die Leute, die noch hier sind. Sie sind so, wenn es ein neues schwarzes Objekt gibt, um es zu fangen. Diese Schmerzen sind da, diese Lessons. Es ist so, dass diese Firma Grit hat. Das sind Überlebende.