This Week in Startups Matt Mullenweg on pioneering remote work, investing in open-source, crypto & more | Angel S5 E7
Mar 4, 2021
Matt Mullenweg, the founder of Automattic and key figure behind WordPress, shares insights on pioneering remote work and the evolution of open-source software. He discusses the journey of WordPress from rejection to innovation, highlighting the importance of community support in tech. Mullenweg also delves into navigating investment in early-stage companies, the complexities of e-commerce versus SaaS platforms, and the ongoing shift towards decentralized media and remote work culture. His views on fostering company culture in a flexible work environment are particularly thought-provoking.
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Paying It Forward
- Matt Mullenweg's first angel investments were motivated by a desire to give back to the community.
- Early mentors like Tony Conrad and Phil Black inspired him to support other entrepreneurs.
Early Stage Investing as Ecosystem Support
- Early-stage investing in the tech industry used to be more about supporting the ecosystem.
- Returns were secondary to fostering innovation and community.
Automattic's Funding Strategy
- Automattic has received substantial private funding and offers regular secondary sales, enabling early investors to exit if they wish.
- This strategy has allowed them to maintain their independence and attract long-term investments.