Lenny's Podcast · Jul 3I’ve run 75+ businesses. Here’s why you’re probably chasing the wrong idea. | Andrew Wilkinson
Tiny bought it at a fair price after Wilkinson's film passion led him there. It is his example of a network effect moat, versus funding movies where you lose all your money 90% of the time.
Tips
- Look for profitable niches inside industries you already love▶ 13:26Tiny bought Letterboxd, the AeroPress coffee maker and Serato DJ software by applying personal passions plus years of industry study.
- Buy or build businesses with a moat, like a brand or network effect▶ 33:48Letterboxd, the largest social network for film lovers, is his example of a network effect; X kept its network even after a rebrand and 80% of staff leaving.
