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Founder's Journal

How I Lost $10,000,000

Founder's Journal

Morning Brew

Careers, Business, Entrepreneurship

4.81.1K Ratings

🗓️ 15 March 2024

⏱️ 17 minutes

🧾️ Download transcript

Summary

Episode 120: Andrew Wilkinson is the co-founder and CEO of Tiny, a publicly traded holding company trying to be Berkshire Hathaway but for internet companies. In 2007, Andrew started a Canada-based design agency called MetaLab, which grew to $40-50 million in revenue & $20 million in profit. After trying and failing to launch other businesses, Andrew pivoted to buying businesses to grow his holding company. I’m going to read a story by Andrew about one of the businesses he tried to launch after MetaLab and his lessons from its spectacular failure. Original Story: https://twitter.com/awilkinson/status/1376985854229504007 Andrew’s X Account: https://twitter.com/awilkinson Send us an email and let us know what you think of the idea! [email protected] #FoundersJournal #Startups #Entrepreneur Listen to Founder’s Journal here: https://link.chtbl.com/OV4W93_W Watch Founder’s Journal here: https://www.youtube.com/@FoundersJournal/ Subscribe to Morning Brew! Sign up for free today: https://bit.ly/morningbrewyt Follow The Brew! Instagram - https://www.instagram.com/morningbrew/ Twitter - https://twitter.com/MorningBrew Tik Tok - https://www.tiktok.com/@morningbrew Follow Alex! Alex Lieberman (@businessbarista) Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

What's up everyone? Welcome back to another episode of Founders Journal. I'm Alex Lieberman,

0:04.1

co-founder and executive chairman of Morning Brew. On Founders Journal, I act as your startup

0:09.2

Sherpa, curating the best content for entrepreneurs, summarizing it so you don't have to read it yourself,

0:14.0

and analyzing it so you have actionable takeaways to apply to your business.

0:18.0

Before we hop into it, I have one ask of you.

0:21.0

Please share Founders Journal on social media. Podcasting is a super

0:25.0

competitive game and the only way to grow is through word of mouth and

0:28.4

promotion on social. A minute of posting on your end will make the dozens of hours that myself and the team spend each

0:34.8

week creating this show, completely worth it.

0:37.5

You can either give the show a shout out or share the single most interesting thing that you

0:41.6

learned from today's episode and make

0:43.5

sure to tag me so that I can give you proper props once you post. Now let's talk

0:47.8

about today's episode. Andrew Wilkinson is the co-founder and CEO of Tiny

0:52.0

which is a publicly traded holding company that is trying to be

0:55.7

Berkshire Hathaway but for internet companies. In 2007, Andrew started a Canada-based design agency

1:02.4

called MetaLab, which he grew to 40 to 50 million dollars in revenue and 20 million in profit.

1:07.8

As you're about to hear on this episode, Andrew tried for a while to launch other businesses but after doing so unsuccessfully

1:15.2

he pivoted to buying businesses to grow his holding company which has dozens of

1:19.7

businesses under it today. What I am about to read to you is a story by Andrew about one of

1:25.4

those businesses that he tried to launch after Metalab and the lessons that he

1:30.0

learned from his spectacular failure. Let's hop into it. A new seller's plans and goals usually boil down to one single desire,

1:47.0

getting their products in front of millions of customers.

...

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