From Startup To Selling To Starbucks With Peter Thum

Peter Thum is the Co-Founder and CEO of Muse, an AI-powered website builder and collaboration platform. He was previously the Founder of Ethos Water, which he successfully sold to Starbucks in 2005. Thum has also founded Fonderie 47, a company that transforms AK-47 assault rifles from African war zones into high-end jewelry and accessories, and Liberty United, which employs a similar model to reduce gun violence in the United States.

 

In this interview, Thum shares invaluable insights and experiences from his entrepreneurial journey, particularly the challenges and triumphs of building Ethos Water from a $10,000 startup to a major acquisition by Starbucks. He discusses the importance of bootstrapping, resourcefulness, and unwavering commitment to one's mission, even in the face of adversity. Thum also highlights the significance of strategic partnerships, as exemplified by his collaboration with Howard Schultz, which amplified the impact of Ethos Water and brought clean water access to millions of people in developing countries.

 

For young entrepreneurs, founders, MBA students, and managers, this episode offers a wealth of knowledge and inspiration. Thum's journey illustrates the importance of perseverance, adaptability, and the potential for businesses to drive positive social change. His experiences serve as a roadmap for navigating the complexities of building a mission-driven business while simultaneously making a meaningful impact on the world.

Episode Outline

(00:00:00) Introduction and overview of Peter Thum's background

(00:05:17) Peter's childhood in Korea and parents' careers

(00:09:39) Impact of losing his father at age 14

(00:14:01) Playing college football and being a team captain

(00:20:47) Early career at Gallo Winery and desire to move to Germany

(00:27:56) Decision to attend Kellogg School of Management

(00:32:39) Working at McKinsey & Company after business school

(00:44:43) Inspiration for Ethos Water during McKinsey projects

(01:03:21) Bootstrapping and launching Ethos Water

(01:18:27) Getting Ethos Water into Whole Foods and Starbucks

(01:32:13) Selling Ethos Water to Starbucks

(01:43:40) The social impact of Ethos Water with Starbucks' reach

(01:50:45) Founding Foundry 47 to transform AK-47s into luxury items

(01:56:03) Creating Liberty United to reduce gun violence in the US

(01:58:58) Co-founding Muse, an AI-powered no-code platform

(02:05:01) Muse's vision to democratize tech for all skill levels

Episode Links

 

Ethos Water
Starbucks
Fonderie 47 (founded by Peter Thum)
Liberty United (founded by Peter Thum)
Muse (current company, co-founded by Peter Thum)
McKinsey & Company (former employer)
Gallo Winery (former employer)
Kellogg School of Management (alma mater)

 

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