Episode
#63 with Andrew Wilkinson - Buying cash-flowing internet companies, starting job boards and building no code projects
1:18:55
Published: Wed Apr 08 2020
Description
Sam (@thesamparr) and Shaan (@shaanvp) are joined today by Andrew Wilkinson (@awilkinson) who is the co-founder of Tiny (tinycapital.com) - the internet version of Berkshire Hathaway. Shaan also launched a newsletter version of the podcast, subscribe to it to receive startup ideas backed by data in your e-mail weekly: terriblehorriblenogoodverybadideas.com. Want to make your first million with your mobile app? You have to prioritize app performance first. Get your custom HeadSpin benchmark report at headspin.io/myfirstmillion free our listeners! Today's topics: What is Tiny? (4:05), Shaan tried to sell Andrew a business 5 years ago (8:35), Andrew being early on COVID-19 (15:26), Being a control freak & hiring managers (20:35), The perfect cash-flowing companies (31:30), SRED Credits Tax Incentive Program in Canada (36:40), Job board businesses (42:22), No code agencies (48:03), Businesses that didn't work out (56:56), Being broke (59:20), Subscription podcasting (1:02:27) and Modern day newspapers (1:11:18). See acast.com/privacy for privacy and opt-out information.
Chapters
Sean and guest Jordan Harbinger discuss the importance of seeking advice, and how to obtain insights from those who are more knowledgeable.
00:00 - 01:09 (01:09)
Summary
Sean and guest Jordan Harbinger discuss the importance of seeking advice, and how to obtain insights from those who are more knowledgeable.
Episode#63 with Andrew Wilkinson - Buying cash-flowing internet companies, starting job boards and building no code projects
PodcastMy First Million
This podcast episode highlights the importance of being clear when asking for advice, whether it's advice, permission, encouragement, or something specific.
01:09 - 04:31 (03:22)
Summary
This podcast episode highlights the importance of being clear when asking for advice, whether it's advice, permission, encouragement, or something specific. It also emphasizes the need to implement the advice given and show the other person the results.
Episode#63 with Andrew Wilkinson - Buying cash-flowing internet companies, starting job boards and building no code projects
PodcastMy First Million
The guest discusses his numerous business ideas and the acquisitions made by his company, which owns job boards, SaaS and podcasting businesses, and a top product design agency.
04:31 - 10:27 (05:56)
Summary
The guest discusses his numerous business ideas and the acquisitions made by his company, which owns job boards, SaaS and podcasting businesses, and a top product design agency.
Episode#63 with Andrew Wilkinson - Buying cash-flowing internet companies, starting job boards and building no code projects
PodcastMy First Million
The Business Longevity Principle states that if something has been in business for a long time, there is a higher probability it will continue to exist.
10:27 - 14:00 (03:32)
Summary
The Business Longevity Principle states that if something has been in business for a long time, there is a higher probability it will continue to exist. This principle is based on the observation that things that have been around for a long time are likely to continue to exist.
Episode#63 with Andrew Wilkinson - Buying cash-flowing internet companies, starting job boards and building no code projects
PodcastMy First Million
Andrew Wilkinson talks about taking precautions for COVID-19, his life story, and how his R&D business, Metalab, has avoided cuts to its core product roadmap.
14:00 - 19:53 (05:53)
Summary
Andrew Wilkinson talks about taking precautions for COVID-19, his life story, and how his R&D business, Metalab, has avoided cuts to its core product roadmap.
Episode#63 with Andrew Wilkinson - Buying cash-flowing internet companies, starting job boards and building no code projects
PodcastMy First Million
Andrew discusses the importance of CEO crisis communication and how he and his team are always on call for their clients.
19:53 - 23:55 (04:01)
Summary
Andrew discusses the importance of CEO crisis communication and how he and his team are always on call for their clients. They receive texts and phone calls from CEOs in times of crisis, and are always ready to assist with decision-making and problem-solving.
Episode#63 with Andrew Wilkinson - Buying cash-flowing internet companies, starting job boards and building no code projects
PodcastMy First Million
The founder of AngelList, Naval Ravikant, shares that he grew his business faster and improved his personal life by hiring people who loved doing what he didn't, like traveling and closing deals, and paying them well for their success.
23:55 - 28:49 (04:53)
Summary
The founder of AngelList, Naval Ravikant, shares that he grew his business faster and improved his personal life by hiring people who loved doing what he didn't, like traveling and closing deals, and paying them well for their success.
Episode#63 with Andrew Wilkinson - Buying cash-flowing internet companies, starting job boards and building no code projects
PodcastMy First Million
A founder realizes that his startup may not be able to achieve the size and partnerships he had initially envisioned.
28:49 - 32:19 (03:30)
Summary
A founder realizes that his startup may not be able to achieve the size and partnerships he had initially envisioned.
Episode#63 with Andrew Wilkinson - Buying cash-flowing internet companies, starting job boards and building no code projects
PodcastMy First Million
The Business Development Bank of Canada is a government-funded bank that takes more risks and is friendlier to small and medium-sized businesses, making it an ideal option for those looking for a perfect cash flow company.
32:19 - 37:27 (05:08)
Summary
The Business Development Bank of Canada is a government-funded bank that takes more risks and is friendlier to small and medium-sized businesses, making it an ideal option for those looking for a perfect cash flow company.
Episode#63 with Andrew Wilkinson - Buying cash-flowing internet companies, starting job boards and building no code projects
PodcastMy First Million
The competition for applied scientists is so high that some are being offered salaries up to $500,000 a year, while a reasonable salary for a dev is around $160,000 to $250,000.
37:27 - 43:03 (05:35)
Summary
The competition for applied scientists is so high that some are being offered salaries up to $500,000 a year, while a reasonable salary for a dev is around $160,000 to $250,000. Some companies may be loose with their tax credits for R&D, but it's important to be careful to avoid audit and legal issues.
Episode#63 with Andrew Wilkinson - Buying cash-flowing internet companies, starting job boards and building no code projects
PodcastMy First Million
Some job boards charge high fees for job postings due to high demand, but the real product is not the job board itself but the company behind it.
43:03 - 47:35 (04:32)
Summary
Some job boards charge high fees for job postings due to high demand, but the real product is not the job board itself but the company behind it. In the case of Dribbble, the product is Dribbble, not the job board, and job seekers may be better off using LinkedIn instead.
Episode#63 with Andrew Wilkinson - Buying cash-flowing internet companies, starting job boards and building no code projects
PodcastMy First Million
The speaker highlights the benefits of using no code to quickly prototype and build real businesses such as job boards.
47:35 - 52:20 (04:44)
Summary
The speaker highlights the benefits of using no code to quickly prototype and build real businesses such as job boards. They urge businesses with a significant audience to consider creating a job board using no code.
Episode#63 with Andrew Wilkinson - Buying cash-flowing internet companies, starting job boards and building no code projects
PodcastMy First Million
The host talks about his experience investing in a furniture business and outlines the steps he took, such as identifying the operator and structuring the marketing plan.
52:21 - 56:08 (03:46)
Summary
The host talks about his experience investing in a furniture business and outlines the steps he took, such as identifying the operator and structuring the marketing plan.
Episode#63 with Andrew Wilkinson - Buying cash-flowing internet companies, starting job boards and building no code projects
PodcastMy First Million
The speaker shares the lessons he learned in distinguishing good businesses from bad ones through his own trial and error experiences.
56:08 - 1:01:42 (05:34)
Summary
The speaker shares the lessons he learned in distinguishing good businesses from bad ones through his own trial and error experiences. He also acknowledges how easy it is to just focus on the hits, overlooking the importance of recognizing bad business decisions.
Episode#63 with Andrew Wilkinson - Buying cash-flowing internet companies, starting job boards and building no code projects
PodcastMy First Million
In this podcast, the host discusses the success of SaaS business models, highlighting the growing trend of building SaaS businesses with no employees.
1:01:43 - 1:06:07 (04:24)
Summary
In this podcast, the host discusses the success of SaaS business models, highlighting the growing trend of building SaaS businesses with no employees.
Episode#63 with Andrew Wilkinson - Buying cash-flowing internet companies, starting job boards and building no code projects
PodcastMy First Million
The podcast discusses the appeal of value investing and the community that has formed around it, particularly among those who have read investment books by Warren Buffet, Howard Marks, and Monique Pabrai.
1:06:07 - 1:12:58 (06:51)
Summary
The podcast discusses the appeal of value investing and the community that has formed around it, particularly among those who have read investment books by Warren Buffet, Howard Marks, and Monique Pabrai. The speaker also mentions the value of email subscribers to their "pirate ship" of a business.
Episode#63 with Andrew Wilkinson - Buying cash-flowing internet companies, starting job boards and building no code projects
PodcastMy First Million
The speaker talks about various topics including getting a tattoo for $3 million in sales, interesting stories about kids, the feeling of having a shaved head, and the excitement of owning a nice car.
1:12:58 - 1:16:01 (03:02)
Summary
The speaker talks about various topics including getting a tattoo for $3 million in sales, interesting stories about kids, the feeling of having a shaved head, and the excitement of owning a nice car.
Episode#63 with Andrew Wilkinson - Buying cash-flowing internet companies, starting job boards and building no code projects
PodcastMy First Million
The hosts discuss the benefits of using infrared saunas, which include feeling like you've just had a 2 hour workout after using one for just 20 minutes.
1:16:01 - 1:18:27 (02:26)
Summary
The hosts discuss the benefits of using infrared saunas, which include feeling like you've just had a 2 hour workout after using one for just 20 minutes.
Episode#63 with Andrew Wilkinson - Buying cash-flowing internet companies, starting job boards and building no code projects
PodcastMy First Million
The hosts talk about their experience listening to podcasts, including one that they were recently interviewed for, and mention their desire for a sauna sponsor.
1:18:27 - 1:19:04 (00:36)
Summary
The hosts talk about their experience listening to podcasts, including one that they were recently interviewed for, and mention their desire for a sauna sponsor.