
Acquired
Every company has a story.
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20 snips
Feb 20, 2018 • 1h 38min
Season 2, Episode 3: Nest
Acquired brings it all back home—to the smart home that is—with Google’s 2014 acquisition of Nest for $3.2B. From Nest cofounder Tony Fadell’s first job at General Magic (alongside future Android founder Andy Rubin) to his days as “father of the iPod” under Steve Jobs at Apple, the Silicon Valley history runs deep with this one. But did that make the acquisition a good move for Google in the coming battle with Amazon’s “Lady A” for control over consumers’ homes? We dive in!Sponsors:WorkOS: https://bit.ly/workos25Sentry: https://bit.ly/acquiredsentryServiceNow: https://bit.ly/acquiredsnMore Acquired!:Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!© Copyright 2015-2025 ACQ, LLCLinks:Tony Fadell in the Academy of AchievementSteve Jobs deleting Tony Fadell from his FavoritesCarve Outs:Ben: Do by Friday podcastDavid: A Kingdom from Dust By Mark Arax in The California Sunday Magazine

4 snips
Feb 7, 2018 • 1h 20min
Season 2, Episode 2: Raising a Seed Round with Against Gravity CEO Nick Fajt
We launch mini-series on Acquired with a subject near & dear to our heroes’ hearts: startup fundraising! This has been one of our most-requested new topics, and we’re excited to kick things off with makers of the popular Rec Room social VR app, Against Gravity, which raised one of Seattle’s hottest venture rounds in recent history: a $4m seed led by Sequoia Capital in 2016. CEO Nick Fajt joins to tell the story from company inception to building and shipping the initial product, fundraising as a first-time CEO, what they’ve been able to accomplish with the capital and their vision for the future. We had a blast touching on many classic Acquired themes for the first time “in-action” with a young, growing company, and hope you all enjoy the discussion as much as we did. Let us know what you think in the Slack!Sponsors:WorkOS: https://bit.ly/workos25Sentry: https://bit.ly/acquiredsentryServiceNow: https://bit.ly/acquiredsnMore Acquired!:Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!© Copyright 2015-2025 ACQ, LLCCarve Outs:Ben: Ready Player OneDavid: Seveneves Nick: The Legend of Zelda: Breath of the Wild

18 snips
Jan 23, 2018 • 1h 18min
Season 2, Episode 1: Zappos (with Alfred Lin)
Former Zappos Chairman & COO (and current Partner at Sequoia Capital) Alfred Lin joins our heroes to kick off Season 2 with a classic: Amazon’s 2009 acquisition of the internet’s quirkiest online retailer for $1.2B in stock. How did three Harvard undergrads go from delivering pizza to their dorm to delivering happiness to the world — and become in the process one of the few companies ever to compete successfully head-to-head against Amazon in commerce? Tune in to find out! Note: Unfortunately the quality of David and Alfred’s audio tracks in this episode were significantly impacted by a processor issue on David’s computer, which we didn’t discover until after recording. We’ve worked hard to fix in post-production, but it’s still far from perfect. Still, the content from Alfred is so good, we felt we had to put this episode out there even though the audio quality isn’t up to par. We hope you’ll give it a listen regardless, and we’re working on getting a transcript made ASAP as well. -Ben & DavidSponsors:WorkOS: https://bit.ly/workos25Sentry: https://bit.ly/acquiredsentryServiceNow: https://bit.ly/acquiredsnMore Acquired!:Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!© Copyright 2015-2025 ACQ, LLCCarve Outs:Ben: Andrew Mason on Recode Decode David: Justin O’Beirne on Google Maps’ MoatAlfred: Walter Isaacson’s biographies of Albert Einstein and Benjamin Franklin

Dec 18, 2017 • 1h 22min
Episode 51: 2017 Holiday Special
Acquired cozies up to the fire and looks back on the year in tech. How wildly off were we on last year’s predictions? What does the next year have in store? Most importantly, what price will Bitcoin be trading at in December 2018??? Pour yourself a glass of your favorite holiday beverage and kick back with us.Sponsors:WorkOS: https://bit.ly/workos25Sentry: https://bit.ly/acquiredsentryServiceNow: https://bit.ly/acquiredsnMore Acquired!:Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!© Copyright 2015-2025 ACQ, LLCLinksJosh Elman on shared experiencesPatrick McKenzie on distribution2017 Carve Outs of the Year:Books His Dark Materials trilogy by Philip Pullman Shoe Dog by Phil Knight Wooden on Leadership by John Wooden and Steve JamisonArticles “The Great AI Awakening” New York Times Magazine“Founder Friendly” AVC blogPodcasts “The Ezra Klein Show” featuring Yuval Noah Harari “The Bill Simmons Show” featuring Jimmy IovineMusic Bruce Springsteen and The E Street Band live at the Hammersmith Odeon London in 1975A Moment Apart by OdeszaMovies CreedBlade Runner 2049The Last JediApps YouTube HQ

14 snips
Dec 11, 2017 • 1h 19min
Episode 50: Apple - Beats
Acquired crosses the half-century mark with an instant classic: Apple’s 2014 purchase of Beats, its largest acquisition ever. If you knew Beats as just another headphone company, think again—the history on this one will keep your heads ringin’.Sponsors:WorkOS: https://bit.ly/workos25Sentry: https://bit.ly/acquiredsentryServiceNow: https://bit.ly/acquiredsnMore Acquired!:Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!© Copyright 2015-2025 ACQ, LLCCarve Outs: * Ben: HQ * David: Wooden on Leadership

Dec 4, 2017 • 1h 17min
Episode 49: The Stitch Fix IPO
Ben and David dive into the most talked-about tech IPO of 4Q 2017: Stitch Fix. After downsizing the offering and pricing below the range, does this signal a warning that public markets won’t value high-flying silicon valley “disruptors” as high as VCs hope? Or is this a textbook example of a great return for a disciplined management team and well-run company? Most importantly, what happens next? Tune in for our heroes’ take.Sponsors:WorkOS: https://bit.ly/workos25Sentry: https://bit.ly/acquiredsentryServiceNow: https://bit.ly/acquiredsnMore Acquired!:Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!© Copyright 2015-2025 ACQ, LLCCarve Outs:Ben: The iPhone XDavid: Coach Wooden and Me: Our 50-Year Friendship On and Off the Court

24 snips
Nov 20, 2017 • 57min
Episode 48: Qualcomm - Broadcom
Ben & David cover the proposed largest tech M&A deal of all time, and in the process dive into the evolving dynamics of the industry that started everything in Silicon Valley—silicon. Just when VCs thought innovation was dead in semiconductors, a new wave of startups and large companies are redrawing the lines of competition in an industry dominated for a half-century by the “Wintel” duopoly of Intel and Microsoft.Sponsors:WorkOS: https://bit.ly/workos25Sentry: https://bit.ly/acquiredsentryServiceNow: https://bit.ly/acquiredsnMore Acquired!:Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!© Copyright 2015-2025 ACQ, LLCTopics Covered Include:Innovation and disruption in the semiconductor industry over the past two years Intel’s acquisition of Nervana Graphcore and other ML-focused semiconductor startupsCDMA and the telephone network effect Qualcomm’s early cell phone handsets Vertical integration + commoditization in smartphone chipsets The Carve Out:Ben: The de-watering of Niagara FallsDavid: Big Daddy’s AntiquesBonus: The Mystery Show

33 snips
Nov 7, 2017 • 1h 11min
Episode 47: The Atlassian IPO
Ben & David venture to the land down under (and reunite in-person!) to tell the story of the granddaddy of all bootstrapped tech success stories, collaboration software company Atlassian. How did two plucky college grads from Sydney, Australia go from just trying to escape working for the man to becoming two of the top 10 wealthiest people in the entire country, all without raising a dollar of venture capital? We dive in.Sponsors:WorkOS: https://bit.ly/workos25Sentry: https://bit.ly/acquiredsentryServiceNow: https://bit.ly/acquiredsnMore Acquired!:Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!© Copyright 2015-2025 ACQ, LLCTopics Covered Include:How Atlassian founders Mike Cannon-Brookes and Scott Farquhar met in college at the University of New South Wales in Sydney, Australia, and their decision to bootstrap a startup as an alternative to finding a “real job” after graduationAtlassian’s “no sales” model, and the resultant efficiency of their sales & marketing spend relative to other SAAS companies Organic product growth and acquisitions over the years, starting with Jira and later adding Confluence, BitBucket, HipChat / Stride, Jira Service Desk and TrelloRapid revenue growth and the decision to continue as a bootstrapped company, only raising secondary capital prior to going publicThe IPO in November 2015 and subsequent stock performance (spoiler: it’s been good) The Carve Out:Ben: Phil Knight’s memoir, Shoe DogDavid: Bruce Springsteen memoir, Born to Run

38 snips
Oct 8, 2017 • 1h 8min
Episode 46: Blue Bottle Coffee
Today our heroes cover a deal that might have more impact on life in Silicon Valley than AI, wearables and AR/VR combined… Nestle’s acquisition of Blue Bottle Coffee. Will hipster entrepreneurs and the VCs who love/need them continue to line up around the block for their minimalist coffee experience of choice, now that it’s owned by the Nesquik Bunny? Is this the beginning of Blue Bottle pod machines filling the empty counter space left by Juicero’s demise in VC offices throughout South Park? We investigate.Sponsors:WorkOS: https://bit.ly/workos25Sentry: https://bit.ly/acquiredsentryServiceNow: https://bit.ly/acquiredsnMore Acquired!:Get email updates with hints on next episode and follow-ups from recent episodesJoin the SlackSubscribe to ACQ2Merch Store!© Copyright 2015-2025 ACQ, LLCTopics Covered Include:The rise of “Third Wave” coffeeBlue Bottle founder James Freeman’s “classical” (music) influences Venture capital and the coffee business Achieving liquidity when companies and founders’ don’t want to go public, and don’t want to sell their stakes Nestle’s position in single-serve coffee market and potential brand impact of Blue Bottle The Carve Out: Ben: There Never Was a Real Tulip FeverDavid: iPhone SE

5 snips
Sep 21, 2017 • 1h 25min
Episode 45: HTC, Google and the Future of Mobile
The hosts dive into Google's acquisition of HTC, discussing its potential to reshape the mobile landscape. They explore HTC's legacy, from its origins to its pivotal role in Android's development. The conversation expands to Google's hardware strategy, comparing it with Apple's competitive advantages. Insights into the challenges of voice technology and the evolving mobile market dynamics are revealed. Listeners get a blend of tech analysis and personal music tastes as the hosts reflect on their favorite tracks, creating a vibrant connection between technology and culture.