Everything Andy Dunn said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Dunn: Marc Lore is probably the East Coast's best e-commerce entrepreneur
“So probably the best third-party e-commerce entrepreneur on the East Coast.”
Dunn: Brand acquisition backlash typically lasts 72 hours before returning to normal
“For 72 hours, there's a really big reaction and an availability bias of the most vocal people. And then business returns to normal. The vast majority of people don't think about this stuff that much every day.”
Andy Dunn: Pie launched Penelope AI agent to coordinate social lives
“We just launched an AI agent called Penelope and her job is both in iMessage as well as soon in the app to help be a, what we call a social life
Instigator.
You know, and chaos coordinator to get you together with the people that you should be spending more ti…”
Andy Dunn: Pie is live in three cities and expanding to five more
“That's live in Chicago, Austin, San Francisco. We're going live in New York and LA. We got other smaller markets percolating like Columbus and Milwaukee and Atlanta.”
Andy Dunn: Pie pays community hosts up to $3,500 monthly
“We can pay those folks up to 3500 dollars a month via a rewards program to light up plans and events on Pi”
Andy Dunn: Pie has roughly 800 community builders
“We've got about 800 of those community builders on our app right now”
Andy Dunn: Carraway scaled through 3,000 unpaid Instagram gifting partners
“I'm a, I'm an investor, angel investor in a brand called Carraway. It's pots and pans and kitchenware. And what he did that I thought that was so smart is he actually built an army of something like 3000 Instagram partners. It was just value exchange for free …”
Dunn: The alcohol shot category has only about five major competitors
“There's a million alcohols to compete with, but in the shot culture, there's like five.”
Andy Dunn: Bonobos Did Not Do Layoffs Until Year 12
“Like Ipponobos, we didn't do a layoff until our 12th year.”
Dunn: Bonobos Raised First $8M from 100+ Investors During Recession
“And we started Bonobos, right? And right before the great recession. And so, oh, eight, oh, nine, 20, 10. We had to raise our first eight million from a hundred plus investors.”
Dunn: Mental health tech VC funding surged to $5.5B in 2021
“Five years ago, there was like a hundred million of venture capital that went into mental health tech.
Last year, I heard that was five and a half billion.”
Andy Dunn: Seeing an Objective Talk Therapist Is the Best Investment
“Just go talk to one person that isn't your boyfriend or mom or coworker. Someone whose sole job is to find a way to get you healthy. And that is the best investment that you can make.”
Bonobos sold to Walmart for $300 million in 2017
“We sold the company for three hundred million dollars”
Dunn disclosed his psychiatric crisis to only four key Bonobos executives
“What I did, Guy, was I told a small cohort of people who just had to know
I told our general counsel.
I told our head of HR.
I told our CFO.
I told my assistant.”
Dunn sees a doctor twice weekly so 72 hours never pass unchecked
“I'll still be seeing a doctor twice a week, And twice a week is a lot, right? Seeing a doctor twice a week is a lot, but I do it because I don't want more than 72 hours or so to pass without him having a read on how I'm doing.”
Bonobos sold $16,000 of pants in one Stanford house party
“One day, we had a pants party at our house, and I think we sold 16,000 dollars worth of pants that day, and that was when I kind of looked at him.”
Joel Peterson offered $100K at $3M valuation or $300K at $2M
“He said, at three, we'll take a 100,000, but if you dropped it down to two, we'll take the whole round.”
Dunn: Benchmark co-founder Andy Rachleff backed Bonobos at $3M valuation
“Well then I went to see the other professor from school who is an amazing business person named Andy Ratcliffe, one of the co-founders of Benchmark, and he also offered to invest, and he was willing to do it at the three million dollar price”
Dunn: Bonobos revenue grew from $10K at launch to $90K monthly within six months
“So we properly launched BonobosPants.com in October of oh seven, and we did 10 grand that month, then in November we did 20, December we did 30, came back from the holiday break in January, and we did no sales for the first five days, and I thought, oh my god,…”
Dunn hid his clinical depression while leading Bonobos through co-founder conflict
“I got depressed. So it turns out I have a propensity clinically for depression. And so I got to the place where I kind of had to fake it at work that I was doing okay, drag myself out of bed and come to the office and kind of put on a show.”
Bonobos raised its initial $8 million from more than 120 investors
“And then I had another 90 conversations like that over the course of the next couple months, and pieced together another round, and, you know, we ended up raising our first eight million from, you know, over, over a 120 investors.”
Dunn: Bonobos Chinos Line Required 4,000 to 5,000 SKU Variants
“And if you look at our chinos business, we've got 36 waist and inseam combinations, four different fit silhouettes, and we might be running 15 to 20 colors. So if you do the math, that's four to 5000 variants.”
Andy Dunn started Bonobos with $3,000 in cash and $160,000 in debt
“When I graduated business school, I had 3000 dollars in the bank and 160,000 dollars of debt. And I started a company with that balance sheet.”
Dunn: Bonobos sold $16,000 worth of pants in one day at Stanford
“One day, we had a pants party at our house, and I think we sold 16,000 dollars worth of pants that day.”