i hope books are already being written on how one man completely destroyed DECADES of brand equity over his obsession with a single letter of the alphabet.
tl;dr We paid a designer ~$70,000 to create some 14,000 stock market icons for us (think AAPL, VTI, SPY, etc). We've only received ~1,500 of them and he's now ghosting us.
Buckle up...here's how that played out and where we're at now...
Here's a spreadsheet of the 50+ projects/businesses I've started/built/sold/shut down over the past 15 years, along with what happened to them and links to Wayback to see how terrible they were. 😛
I sold
@Baremetrics
! After 7 years of work building this little company, Baremetrics has a new home.
See the numbers, how we got here, what's changing (and what's not), what's next and more!
i mean seriously. the amount of work previously required to get this data from an image was bonkers.
OCR calls, GPT to try to get the OCR data in to something useable, huge computer vision models to identify the object...all replaced by a single call to an openai endpoint.
been ~8 months since i've touched
@ToolstashApp
and so much has changed w/ computer vision + AI that i'm just going to rebuild it from scratch.
openai vision API has replaced thousands of lines of code & an image training data set of 50k+ manually annotated/categorized tools. 🤪
1/ It's fun (or, more specifically, "therapeutic") to reflect on learnings over the years for businessing.
15+ years in to all this, I'm still winging it on just about every level possible, so take these insights/observations for what they're worth.
We're moving
@maybe
to
@rails
.
We'll be creating a new "rails" branch on the main repo by the start of next week & then move it to main by the end of February.
The React codebase will be moved to a new repo then.
...and you thought things were moving fast before. 🎉
1,000 people on your mailing list is not validation.
1,000 people on your free plan is not validation.
1,000 people following you on Twitter is not validation.
1,000 people paying you actual money? Validation.
After some 18 months of design, development & regulatory rap battling,
@maybe
has launched!
The team has worked so hard to build the greatest modern financial planning & wealth management platform w/ tools & resources you can't get anywhere else. 🧵👇
I want to quickly build web scrapers. What's the fastest/easiest tool for that?
Basically I want to create scrapers for all tool brand (dewalt, milwaukee, ryobi, etc) sites to create a database of all of their tools.
Hi potential investors! I'm Josh, CEO of
@maybe
. And this is a pitch thread as we're working on raising a $5m seed round!
Interested? DM, josh
@maybe
.co or 205-470-4803
🧵👇🎉
29/ Everybody is winging it. Every. Single. Person. Nobody actually knows what they’re doing. Sure, they may have hindsight on things that worked in the past, but right now? Nope. They have no idea.
the introvert entrepreneur's dilemma:
i want to build products used by 100's of millions of people.
i also want to live off the grid in a cabin and never speak to another human again.
First market day! My 10 y/o daughter has been working for *months* getting this business off the ground.
So proud.
Her online shop will launch next week!
He finally responded and said he'd deliver the icons in two weeks!
Oh wait...only if we sign an NDA, delete all the tweets and never speak of his mistakes again.
Cool cool cool.
Sending cold email followups is the perfect way to get you and your entire company domain blocked from ever sending me an email again.
Yes, I got your previous email. My lack of response is a response.
Either way...I'm at a point in my life where I just don't put up with this sort of clown activity. Do what you say you're going to do. If you don't, I have zero empathy or patience.
We have a problem here, and you can rest assured I will methodically solve the hell out of it.
So, that's where we're at. In 25+ years of both working with and *being* a freelance designer, this is honestly one of the weirdest things I've encountered.
It just doesn't make sense.
Picked a guy who appeared to have quite a bit of experience, is active on twitter with a decent following, has a design podcast where he's interviewed some notable designers, quickly replied to emails...basically passed the overall gut check of legitimacy.
I feel like I need to clarify: I'm not complaining about $20 nor am I interested in figuring out how to save a few bucks.
It's an observation on YouTube doing a 45%+ price increase and questioning where the line is because they absolutely won't max out at $18.99.
Something I’ve realized over the past couple of years is that I don’t want to be an entrepreneur, I want to be an inventor.
I don’t want to build companies, I want to build products.
"Anyone working at a big tech company could have made $3.7m in 7 years!"
That's cute that so many people think any tech company would even hire me.
I have almost no marketable skills. Certainly none specialized enough to earn me $500k/year or even half that.
What's the play here? The dude is here in the US and very easily tracked down.
We have *all* of his personal/legal/contact info because he had to give it to us in the payroll system for contractor payments.
We're working w/ litigation attorneys now to attempt to recover funds.
PEOPLE OF THE EARTH. Figured out how to ask natural language questions of current financial data and get back a natural language response...with correct/relevant numbers! 🤯💰✨
So. Freaking. Cool.
1. Send database schema along with the question and relevant scope/parameters
Sure, I could have held this guy's hand more and reviewed thousands of icons every week to make sure he wasn't lying? I don't know...I just hate operating that way because, again, I hire people to do things so I *don't* have to think about it.
we'd need ~22,000 square miles of solar panels to power the entire US.
we have some ~500,000 square miles of desert in the US.
what's the limiting factor/reasoning to not build massive solar panel arrays all over the desert?
At this point I was feeling confident in his work and didn't feel the need to keep checking all of the icons. I hate micromanaging people and generally hire people so that I DON'T have to keep thinking about it.
Back in March I tweeted that I was looking for someone to create these icons for us and paying $5 per icon.
Not particularly difficult work but definitely tedious. Got a decent number of inquiries.
Looking to pay someone to format thousands of logos as icons for use in
@maybe
and
@synth_finance
.
The VAST majority of these will be finding a given company logo mark and formatting it so it looks nice. All done in Figma.
Paying $500 per 100 icons.
Interested? josh
@maybe
.co
1/ Despite Baremetrics being the "first-mover" and arguably inventing 1-click SaaS analytics back in 2013, ProfitWell (just sold for $200m!) and ChartMogul (who passed us in revenue early on and will almost certainly sell for 8-9 figures) became much larger.
Why? 🧵👇
tl;dr We paid a designer ~$70,000 to create some 14,000 stock market icons for us (think AAPL, VTI, SPY, etc). We've only received ~1,500 of them and he's now ghosting us.
Buckle up...here's how that played out and where we're at now...
“At that sort of scale, small changes in ad click-through rates could end up having a huge effect on Alphabet’s bottom line, even if it means tricking users for cheap clicks”, gotta juice that growth yo!
I communicated the details along with a table of all the icons we needed. He agreed to the details and got kicking.
He had the first 100 done within 24 hours.
Off to a great start.
We got into a rhythm over the next 4 weeks of him billing us weekly and that Figma file getting updated regularly.
On April 11, he mentioned "reorganizing the entire Figma file". Which, I fully understood. It was getting massive & crumbling under the weight of all the layers.
$1M ARR doesn’t go nearly as far as you think it will.
In my head I imagined having a team of like 25 people and straight swimming in cash.
Turns out the math doesn’t really work out. 🤪
Frequent advice to indie hackers is “do more marketing.”
That’s vague and impossible to act on.
So, what’s one *actionable* marketing item an indie hacker can do today?
@joelrunyon
bingo. like, you want to build a dozen completely random things? go for it. but an "everything" app is the perfect way to create a "nothing" app.
Folks who've gone through an acquisition: "This is a fantastic outcome!"
Folks who've never built anything: "This multiple is stupid and you got taken advantage of."
5/ “Busy” does not equal “productive”. You shouldn’t be doing 1,000 different things. Business isn’t that complicated. Very few things are urgent. Very few things actually even need to get done. As a founder, pick just 1 or 2 “must do” things each day.
He kept up with his weekly cadence of sending invoices and letting us know how many icons he'd completed and we kept paying them.
Now, why keep paying when we're not getting the delivered work anymore (remember he was "reorganizing the Figma file")?
Seems like, on some level, Medium contributed quite a bit to the death of the personal blog.
Now it seems there's beginning to be a shift *away* from Medium and hopefully *back* to the personal blog.
Think we'll see a resurgence in feed readers?
I may or may not be diving deep down a rabbit hole exploring building a small community of tiny homes all optimized for deep work and/or deep relaxation.
Places where the destination for 1-2 people is the home itself and not just a place to sleep.
Dedicated, comfortable work
February was
@Baremetrics
best month ever for both revenue and profit!
$135k in revenue & over $30k in profit!
Historically we've tried to operate right at breakeven (putting all profit back in to the business), so having that much profit was nice.
Go team!
I want a podcast app that lets you “bookmark” as you listen.
Just a single tap that saves the 15 seconds before and after for you to easily reference and find later on.
1/ We're no longer pursuing building
@maybe
around part-time/fractional employment.
Here's the note I sent to the team last week.
While I'm still bullish on the concept, I no longer believe it can work for *new* product/software companies. At least it didn't for us.
🧵👇🏻
bring back personal blogs and RSS readers.
they need rebranding, but having your own space to post for decades is so much better than dumb social networks.
then you just have a really great RSS reader to consume from all the sources.
update on
@maybe
: we're still crushing it.
just a lot of foundational bits that are hard to have the community build, so it's a bit externally quiet at the moment as we're internally heads down. 🙂
at any rate, here's a little taste for you. 🤗
This took far too long to actually hit these past few weeks but dangit we did it!
Yes...it'll probably teeter back below a bit more because
#LongSlowSaaSRampOfDeath
, but imma enjoy it while it's there!
Go team! 📈🚀💥