Lenny's Podcast · Jul 3I’ve run 75+ businesses. Here’s why you’re probably chasing the wrong idea. | Andrew Wilkinson
Owns over 40 businesses and earns almost $300 million a year, all bootstrapped on brands and network effects. It buys moat-heavy companies, changes nothing after buying, and aims to be the buyer founders wish they had.
Tips
- 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.
- Choose a bootstrapped business with a moat instead of assuming you must raise venture capital▶ 26:30Tiny bootstrapped to almost $300 million in revenue across its companies; Things has stayed a tiny, profitable team for 20 years.
