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Evidence receipt / belief

Published · transcript-backed

Speaker unverified: belief

24 Mar 2021 Acquired Rec Room Part II (with CEO Nick Fajt)

“There are certain dollar amounts, there are certain valuation amounts where you’re like, well, I’m not joining a startup that might not be here in a year, which I think is definitely a fear that many people in Seattle have.”

— Speaker unverified

Source trail

Everything needed to verify it.

Speaker
Speaker unverified
Attribution
Not verified from this transcript
Claim type
belief
Recorded
24 Mar 2021
Publisher
Acquired

Transcript context

…You’re probably out ahead on an IRR basis even though it took longer. Exactly. We don’t do a good job of thinking about [...] your growth like humans. This was an opportunity on how to protect myself against my own biases and inability to predict. We’re having a lot of money hiring great people, making it clear to them what the problems are and then stepping back. This money lets us do that. It also puts you into a league that helps with recruiting in a lot of ways. There are certain dollar amounts, there are certain valuation amounts where you’re like, well, I’m not joining a startup that might not be here in a year, which I think is definitely a fear that many people in Seattle have. If you’re working at Amazon or Microsoft, any startup seems impossibly small, whether it’s two people or a hundred people. This was one that we thought could help a lot of people in those bigger companies get comfort about, I’m going to join this company. It’s legit. It’s going to stay around for a while. But there’s still really taking risks and thinking big. We wanted to have it both ways. This allowed us to do that. And you’re 60–70 people. Do I have that right?…

Stored transcript either side of the excerpt. The highlighted words are the published quote; the surrounding text is unedited source, never generated.

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