Thomas Tull applied dynamic pricing to laundromats early in his career
“And, you know, so the area I grew up in was economically challenged and needed laundromats. Tried to apply some innovation to laundromats with dynamic Pricing and some other things.”
Thomas Tull says growing up poor leaves lasting fear of losing wealth
“If you grow up poor, at least for me, there's always this odd thing where you're afraid that it's going to be taken away.”
Thomas Tull says success shifts founders from grinding to pattern recognition
“The older that you get and the more success that you get under your belt, like anything else, you can go from just grinding all the time to pattern recognition.”
Thomas Tull launched Legendary Entertainment with zero prior media experience
“I started Legendary Entertainment with zero experience in media. Zero.”
Thomas Tull calls Legendary's early Batman partnership with Christopher Nolan pure luck
“So in terms of pure luck, meeting a young director named Chris Nolan, and being able to, you know, to start off legendary with doing Batman Begins and The Dark Knight, and some other movies with Chris Nolan, that's pure luck.”
Thomas Tull passed on early Uber and Airbnb investments
“I had an opportunity to invest in Uber and Airbnb early. And to be honest, I completely missed the shared economy. I just thought, that's strange. You know, you would go and rent someone's room or you would, and obviously completely blew that and didn't have a…”
Thomas Tull invested heavily in Genies while avoiding direct cryptocurrency exposure
“With the crypto stuff, I don't own a lot of it. I'm a big investor in Genies, which is, you know, a company here in the States that everything from intelligent emojis to NFT and sort of web three O stuff. But I haven't gone deeply into the crypto stuff just be…”
Thomas Tull argues public markets are completely disconnected from actual company value
“The public markets to me are completely disconnected from reality, good and bad.”
Puri: Tull turned $50M FIGS investment into $2.2B at IPO
“He put fifty million in, in 2018 and became a majority owner. So 2018 is when he puts fifty million and buys, you know, 58%. Three years later goes public at a 4.4 billion dollar valuation. So his fifty million turned into 2.2 million of equity value.”
Tull: Core business edge is improving existing models rather than inventing categories
“I'm not good at coming up with a new thing. Like, there was no such thing as social media, and I invented social media, and now that's a thing. I'm not, that's not my skill set. What I've done ok at is looking at an industry or a business model and saying, ok,…”
Tull blames sunk momentum for his biggest movie production failures
“I look back at some of my biggest mistakes were movies that you put together, for example, that you got the director you wanted, you got a release date, you got the cast, but the script isn't coming together. For whatever reason, you just kind of feel it, that…”
Tull: Tulco will not expand to 40 portfolio companies
“So that's why, you know, I don't think we're going to end up with 40 companies because it's, each case is pretty unique, and you want to make sure that you can check those boxes.”