Speaker unverified: belief

Transcript context

…Lobbying 50% plus of the community to be able to flip to your new [...]. I would be subject to whatever stupidity I put down on my white paper five years ago. I guess that’s the thing that I would tell most people. Maybe other people are really good at forecasting. I am not. We just face that decision head on. We’re like, how can we build optionality in the business so that when we’re wrong, we’re not trapped in a corner? Centralization in that one big role gives us a lot more control over being when we’re right and when we’re wrong. We have a lot more leverage to try and shift the game, or the economy, or the ranking algorithms that favor activities or actions we care about. It makes a lot of sense. The other one I do think is worth just highlighting here—it so dramatically affected the trajectory of the business—is the realization you had that your growth was governed by someone else’s growth and by being captive to one platform and betting on that future to the extent that you make the decision to become a venture-funded business where the capital you’re taking is expensive and it is intended for ultra high growth businesses. You become a business that needs to go seek growth. I don’t want to put on you that capital was dictating that to you. I think that was a goal of yours, too, but it does strike me that there’s a lesson in there for other entrepreneurs where they can look and say, in the business that I’m starting, am I in control of my own growth or as my growth governed by someone else?…

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