2min chapter

How I Built This with Guy Raz cover image

WordPress & Automattic: Matt Mullenweg

How I Built This with Guy Raz

CHAPTER

The Business Model Was Free to Use, Right?

The business model was still mainly free to use, is fair to say. The financial crisis actually crashed the advertising market. A quarter or a third of our usage at the time was in china. They would be blocked word press dot come because it was a free place for people publish. And bloggers in china were publishing things that the c c p didn't like. That, combined with the advertising model going out, was a big hit to the business. But luckily, we had this money in the bank, so we're able to dip into the buffer,. It saw us through to the point when the economy and our business started to recover.

00:00
Speaker 1
FPNA
Speaker 2
Today is brought to you by Data Rails, the world's number one FPNA solution. Data Rails is the artificial intelligence powered financial planning and analysis platform built for Excel users. That's right, you can stay in Excel. But instead of facing hell for every budget, month and close or forecast, you can enjoy a paradise of data consolidation, advanced visualization, reporting and AI capabilities. Plus game changing insights giving you instant answers and your story created in seconds. Find out why more than a thousand finance teams use Data Rails to uncover their company's real story. Don't replace Excel, embrace Excel. Learn more at datarails.com. Coming up in the development side, now being at a re in thinking about the kinds of reporting that you've had to do. So how does the real estate industry, how does their financial reporting differ from other sectors you've worked on? I guess maybe encompassing that what kind of metrics are important? What are you tracking? And also part of that, who are the primary beneficiaries? And maybe I should break this into three questions, but it's, you know, how it's different, what you're tracking and who you're reporting to and in all of these projects. How
Speaker 1
it's different, I would say, is that every investment is discrete, is different. There's never a time when it's just cookie cutter, whereas that's kind of picking on manufacturing earlier. But if you're cranking out something, same product 24 hours a day, I think you're reporting can be sort of probably better standardized, whereas the reporting for real estate just differs based on the product type. And there's a lot of common things that people look for in terms of returns. The big three would be IRR, multiple of capital and profit. Like that's at the end of the day what everybody cares about. And that's what the point of doing all the models is to figure out. So I think in that way, you know, it's the fact that every deal is different and you have to look at them individually rather than, you know, just a group of things that are being where the same thing is being produced over and over again. So I think hopefully that answers the first part of the question. Tell me this. I'm terrible with the stuff.

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