Pinned
Starting a startup completely changed the trajectory of my life
Before:
– 22 years old
– $100k in debt
– Skinny-fat
– Hacker house
After:
– 25 years old
– $350k in debt
– Just fat
– Homeless
Here’s what I did after:
David J Phillips
9,869 posts
David J Phillips
@davj
Founder & CEO @fondocom – accounting & tax on autopilot for 2,000+ startups. Angel: Flexport, LiquidDeath, Rippling, 100+. Host: @thestartpod
- People ask me how I reached an eight-figure net worth after only 5 years in tech: Year 1 - $65K (1st job) Year 2 - $72K (asked for raise) Year 3 - $137K (switched jobs) Year 4 - $35.67M (lawsuit payout from Google commuter bus hitting me) Year 5 - $146K (promotion)
- If you’re in SF, be careful out there. I had two licenses of Microsoft Teams in my car, and someone broke in and left two more
- Big companies: $30K per year for this SaaS tool??! Not happening. We'll just assign 17 of our $350K/yr engineers and build it in house in 19 months.
- When a VC accidentally turns on their camera during your pitch
- How to save $1.8M on your .com • try[startup].com • get[startup].com • join[startup].com • use[startup].com • [startup]hq. com What else?
- Startup life: 2:04pm: I think we're going out of business 2:30pm: (customer demo goes well) 2:33pm: I'm pretty sure we're going to IPO next year
- You never truly understand a • Failed launch • Cofounder breakup • Key hire backing out • Round falling apart • Acquisition falling through Until it happens to you Being a founder humbles you when it's your turn — all part of the journey
- NEVER share your startup ideas. I did, and it easily cost me over $1 billion. The year was 1993, and I was catching up with my good friend Jensen Huang The coffee maker had just burnt our coffee, and I remarked “Dang, I wish these things could think for themselves”
- *some personal news* Got to marry the love of my life last month!! ☺️❤️❤️
