Disclosure certainty 5/5 debate potential 1/5

Josh Buckley sold his teenage virtual world game for six figures

Josh Buckley · 20VC: Why The Best Entrepreneurs Are Cockroaches, What Everyone Underestimates About Customer Acquisition & What You Don't But Need To Know About Payback Periods with Josh Buckley, Founder & Chairman @ Mino Games · Nov 25, 2019 · at 4:24

Josh Buckley is the founder and chairman of Mino Games. He recounts building and monetizing a clone of an online virtual world game during high school in the UK.

0:00 / 0:04exact quote · 4.4s
720p mp4 · rendered on demand · StarZero watermark
“I actually agreed one day to sell it to a company in Texas for six figures at the time.”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

More from Josh Buckley

Assertion Contradicted
Digital advertising CPMs compound at approximately 40% per year
“The second force at play is essentially the market-wide, the CPMs are just compounding. The number we've seen is about 40% a year, and that's just because of a number of factors around the algorithms of new competitors coming into the market.”
Josh Buckley Nov 25, 2019 ▶ 16:35 20VC: Why The Best Entrepreneurs Are Cockroaches, What Everyone Underestimates About Customer Acquisition & What You Don't But Need To Know About Payback Periods with Josh Buckley, Founder & Chairman @ Mino Games
Insight
Pre-seed CAC and LTV metrics are meaningless without seven-figure ad spend
“In general, I would agree with you that both the data around CAC and LTV is far too early at the pre-seed stage. I think until you've started to kind of push more than seven figures of scale between both the CAC and LTV metrics, you really don't know those num…”
Josh Buckley Nov 25, 2019 ▶ 17:43 20VC: Why The Best Entrepreneurs Are Cockroaches, What Everyone Underestimates About Customer Acquisition & What You Don't But Need To Know About Payback Periods with Josh Buckley, Founder & Chairman @ Mino Games
Assertion Supported
Every digital ad platform update makes user acquisition more expensive
“There's never been a single update in digital advertising that has made buying cheaper. The advertising algorithms on these major platforms like Facebook and Google are getting hyper-efficient, and every update just makes them more expensive.”
Josh Buckley Nov 25, 2019 ▶ 19:10 20VC: Why The Best Entrepreneurs Are Cockroaches, What Everyone Underestimates About Customer Acquisition & What You Don't But Need To Know About Payback Periods with Josh Buckley, Founder & Chairman @ Mino Games
Insight
Customer acquisition payback periods double for every $5M in ad spend
“The reason why your payback period grows as you spend more is essentially that you're exhausting the most relevant people or customers for your business... And benchmarks we've heard thrown around are roughly doubling every five million in spend.”
Josh Buckley Nov 25, 2019 ▶ 21:01 20VC: Why The Best Entrepreneurs Are Cockroaches, What Everyone Underestimates About Customer Acquisition & What You Don't But Need To Know About Payback Periods with Josh Buckley, Founder & Chairman @ Mino Games
Assertion Not checkable as stated
Josh Buckley's most successful angel investments struggled to raise seed funding
“I was looking at my own portfolio and actually found that many of my most successful deals were actually not very hot at the seed stage. It was actually a struggle for them to raise their first rounds.”
Josh Buckley Nov 25, 2019 ▶ 24:28 20VC: Why The Best Entrepreneurs Are Cockroaches, What Everyone Underestimates About Customer Acquisition & What You Don't But Need To Know About Payback Periods with Josh Buckley, Founder & Chairman @ Mino Games
Assertion Not checkable as stated
Mino Games became one of Andreessen Horowitz's best seed investments
“We became one of Andreessen Horowitz's best seed investments.”
Josh Buckley Nov 25, 2019 ▶ 7:20 20VC: Why The Best Entrepreneurs Are Cockroaches, What Everyone Underestimates About Customer Acquisition & What You Don't But Need To Know About Payback Periods with Josh Buckley, Founder & Chairman @ Mino Games
Made with StarZero

Turn any episode into a week of clips.

This entire site, over 1,200 episodes transcribed, diarized, checked and made playable, runs on the StarZero media pipeline. Drop in your own episode and the podcast clipper finds the moments worth sharing, cuts them, captions them, and reframes them for every feed.