![]() ![]() What I have noticed is that in addition to shaking things up with that post, you used to write posts like “Another Generation Bends Over.” That was the headline of the post that you wrote when Mint sold itself for a price that you thought was maybe too small, but definitely at a time that you thought was too early. I did, of course, see that you guys moved your blog to Medium. I think people resonate with how ridiculous a lot of these valuations actually are.Īndrew: I didn’t notice that you put it up on Medium. The point is that it’s still ridiculous today, as ridiculous as it was in 2010. One of the most popular posts ever posted, again, even though it was like six years later. It’s been seen now, I think, 240,000 reads or something like that. ![]() I just posted that maybe about a month ago. What was interesting though was I posted that in, I think, 2010. So, if someone did that, then we’d be worth $100 billion, which is also ridiculous. ![]() We were just trying to jab at that in general by saying someone bought–it was 0.000000001 for $1, which would equal $100 billion. In my opinion, it goes against a lot of basic economics. It has to do with what someone else thinks it’s worth. The whole post, the fake press release was just about how someone puts in money in the company and they value it somewhere. For companies that don’t have any revenues or any profits. So, our general feeling about valuations is that most of them are absurd. Very few companies today that exist have turned out like Facebook. They are the vast exception to the rule in terms of crazy number valuations. What I do know is that valuations in general–Facebook is a great example of a wonderful company that has proven over time now to be profitable, to be a growing company and to be a true juggernaut. That was his own personal opinion about that. Jason: Well, first of all, just to clear it up, David was the one who put the post up about Facebook’s valuation. Today, Facebook is worth over $300 billion. The day before, your cofounder made fun of Facebook’s valuation being $33 billion. I felt like you were making fun of Facebook’s valuation at the time. Someone invested a buck to get a small share of it. ![]() As a result of somebody investing this money in the business, now 37signals is worth $100 billion. This was September 24th, 2010, where you basically put a dollar bill on the wall with a post-it note that says equal to a fraction of one percent of the company. I’ll tell you why you should go check out /Mixergy later.Īndrew: Hey, so, before we started, I told you that a few years ago, I read this post by you. And it’s sponsored by the company that will help host your website better than you’ve ever had it hosted before. This interview is sponsored by the company that will help organize your books. I want to talk about why I don’t see him blogging as much and so much more. How was changing the whole name, this name that they invested so much reputation and brand connection with? How did it go when they changed their company name to Basecamp? I want to find out about the transition from one of their pieces of software to someone else running it. Last time he was here, the company was called 37signals. I want to catch up a little bit about the name change. I invited him here, frankly, to talk about lots of different topics and see where the conversation goes. It does to-dos, files, messages, scheduling and milestones and so much more. He is the cofounder of Basecamp, which is a web and mobile-based project management software and collaboration tool. Joining me today is a guest who’s been on Mixergy many, many times and someone who’s influenced the design and development of so many web apps and now mobile apps. It is, of course, home of the ambitious upstart. ![]()
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