Steven

And the other thing you said was – you felt that you should go after a business that didn't take like 18 months, like two years of your time to build before you got it to market. Why is that for entrepreneurs that are listening that maybe have spent years perfecting something in their bedroom that hasn't gone to market yet? Why was that insight so important to you for your next venture?

And the other thing you said was – you felt that you should go after a business that didn't take like 18 months, like two years of your time to build before you got it to market. Why is that for entrepreneurs that are listening that maybe have spent years perfecting something in their bedroom that hasn't gone to market yet? Why was that insight so important to you for your next venture?

I think this is a really interesting point that a lot of founders don't realize that even companies like yours, they start with an initial hypothesis, which is nearly always wrong. But kind of when you hear these stories, you hear like, I had an idea in my basement and then pursued it. And then it became a billion dollar business.

I think this is a really interesting point that a lot of founders don't realize that even companies like yours, they start with an initial hypothesis, which is nearly always wrong. But kind of when you hear these stories, you hear like, I had an idea in my basement and then pursued it. And then it became a billion dollar business.

But there's something in the like humility and the realization that your initial idea might be wildly off and that your job isn't to like be right. It is to be successful. And they're like two different things, right?

But there's something in the like humility and the realization that your initial idea might be wildly off and that your job isn't to like be right. It is to be successful. And they're like two different things, right?

So how did you get past Future Freshman to your next business? What was the journey from there? So you'd met your co-founder at that point, Bobby. And how did you then move over to the idea of Snapchat?

So how did you get past Future Freshman to your next business? What was the journey from there? So you'd met your co-founder at that point, Bobby. And how did you then move over to the idea of Snapchat?

And was that more than anything a feeling you had? Like a feeling of just, I'm not enjoying doing this every day, opening my emails, thinking about this problem?

And was that more than anything a feeling you had? Like a feeling of just, I'm not enjoying doing this every day, opening my emails, thinking about this problem?

Hmm. Yes, we were very good at not listening to them. I think because of parents and other pressures, right, to continue doing something. So then how did you get from there, from being in Cape Town, to the idea for Snapchats?

Hmm. Yes, we were very good at not listening to them. I think because of parents and other pressures, right, to continue doing something. So then how did you get from there, from being in Cape Town, to the idea for Snapchats?

LAURENCE MORONEY- One of the things you said there is that you were using people around you, your friends, to give you feedback on what features you should add next. You said people wanted to write on it and they wanted to add captions. As a founder, that must be quite hard because you're getting lots of feedback to change lots of things all the time.

LAURENCE MORONEY- One of the things you said there is that you were using people around you, your friends, to give you feedback on what features you should add next. You said people wanted to write on it and they wanted to add captions. As a founder, that must be quite hard because you're getting lots of feedback to change lots of things all the time.

How do you know what to filter as good feedback that you'll implement versus a distraction or bad feedback? Is there a framework at all that you've had to deploy?

How do you know what to filter as good feedback that you'll implement versus a distraction or bad feedback? Is there a framework at all that you've had to deploy?

So it was a year from the idea to the day when you raised capital for the first time, roughly. Yeah, more or less. And talk me through that. So how much did you raise? How did you go about raising the capital? And what was the business like at that time in terms of users and downloads?

So it was a year from the idea to the day when you raised capital for the first time, roughly. Yeah, more or less. And talk me through that. So how much did you raise? How did you go about raising the capital? And what was the business like at that time in terms of users and downloads?

Do you remember feedback you got from investors at that early stage? I think this is important because all founders are going to get the email that tells them that they're not onto something. Yeah.

Do you remember feedback you got from investors at that early stage? I think this is important because all founders are going to get the email that tells them that they're not onto something. Yeah.