My First Million

This $3B Founder Is The Next Elon Musk

106 snips
Sep 26, 2023
Brett Adcock, founder of Figure.ai and known for his prior ventures like Archer Aviation and Vettery, dives into the risky world of entrepreneurship. He shares his near-bankruptcy tale post-Vettery and his relentless pursuit of innovation. The discussion highlights the transformative potential of humanoid robots and the unique challenges of hardware versus software. He passionately argues why the future of robotics could reshape industries and addresses the ethical dilemmas of automation amidst labor shortages.
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ANECDOTE

Bootstrapping Vettery

  • Brett Adcock bootstrapped Vettery for 3 years, accumulating debt and taking no salary.
  • He even borrowed $50,000 for rent before the $110M acquisition.
ANECDOTE

Going All In on Archer

  • After Vettery, Adcock invested almost everything into Archer Aviation, an electric aircraft startup.
  • He struggled to get funding initially, with one potential investor calling his pitch "disrespectful."
ADVICE

Immersion and Learning

  • Immerse yourself in the field you want to enter.
  • Call everyone you can, read every book, and go back to school if necessary.
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