11:22Ethan Agarwal | Hustle Con 2018
From My First Million · Published Jul 6, 2019 · Watch on YouTube
TL;DR
Ethan Agarwal, founder of Aaptiv (an on-demand audio fitness subscription), explains how his company stopped burning $2.4M/month and became cash flow positive in seven months by fixing working capital instead of laying off staff or slowing growth.
Key insights
- High burn forces constant fundraising, which cedes product control to investors; a product is a perspective and founders need to retain that perspective.
- Speed is the highest leverage point for a young company against larger competitors; reducing acquisition spend (and thus growth) is not a viable option.
- Working capital management (cash inflows vs. outflows) is rarely discussed in startups but directly determines product control.
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