My First Million The High School Dropout Who Made $2B & Bought an NBA Team
198 snips
Nov 5, 2025 
Ryan Smith, founder of Qualtrics and majority owner of the Utah Jazz, shares his inspiring journey from a 1.9 GPA high school dropout to a billionaire entrepreneur. He talks about starting Qualtrics from scratch with his father and how a focus on universities accelerated their success. Smith reveals his unconventional sales techniques, the importance of deeply knowing your product, and an emotional decision to turn down a $500M offer. He also recounts the challenges and triumphs of buying the Utah Jazz, emphasizing community responsibility and his passion for basketball.
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From Dropout To Seoul Hustle
- Ryan dropped out of high school, got a GED, then went to Seoul at 17 with no job or home and nearly ran out of money.
- He survived by teaching private English lessons, hustling flyers, and eventually made $8,000/month within a month.
Product Meets Go-To-Market Fit
- Qualtrics began when Ryan's father built online research tools and Ryan applied go-to-market skills from HP.
- The product solved a real blind-spot: companies weren't collecting customer or employee feedback digitally.
Use Brutal Focus Early
- Force focus by defining a single target market and saying no to others until you dominate it.
- Use accountability (e.g., a demanding cofounder) to keep progress and weekly stories meaningful.
