My First Million #7 - The Hippie With A Billion Dollars
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Aug 7, 2019 Michael Birch, renowned for founding the social network Bebo and investing in companies like Calm and Pinterest, shares his fascinating journey. He discusses his impressive business portfolio and the thrilling experience of buying Bebo back for just $1 million after initially selling it for $850 million. Birch reflects on his early struggles, his competitive days with Zuckerberg, and the creative strategies that led to viral success. Despite his wealth, he remains down-to-earth, emphasizing the joy of entrepreneurship and the importance of innovative growth.
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Unlikely Beginning
- Michael Birch's brother, a programmer at an insurance company, convinced him to join.
- Surprisingly, Michael enjoyed programming but disliked the insurance industry.
Entrepreneurial Inspiration
- Inspired by his entrepreneurial father, Michael wanted to create and invent.
- He saw the evolving computer and internet landscape as his opportunity.
Three-Year Struggle
- Michael initially estimated needing three months to match his prior salary with his ventures.
- It took three years and multiple pivots.