Everything Michael Hyatt said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Hyatt: AI prediction engines will eventually make human user research obsolete
“I think I could invest in your company, and I think for the next two, three years, you can make some money, but I don't think you're going to be right for long, because I believe we have to wipe out all the people, and you have to make a prediction engine that…”
Michael Hyatt predicts Vetd will reach $40M valuation at $1M revenue
“These guys get any traction. The valuation is going to be at 40, fifty million. I'm telling you. I know these enterprise companies are gonna help with bananas. He gets a million of revenues, it's gonna be 20 x, 30 x.”
Michael Hyatt believes VCs avoid boasting about profiting off homelessness programs
“I don't see any VC wanting to say to their investors that they made all this money off of this type of program.”
Hyatt: Offsite events have virtually nothing to do with building company culture
“Culture is built with 75 things. One of those 75 may be this infrequently. It doesn't have anything to do with really building culture.”
Hyatt: Industry praise is meaningless unless partners actually write investment checks
“It's really easy to say, I love you, baby. But it's much, much harder to actually cut you a check. If they love what you're doing, people are greedy with their money. They would want to make money on it.”
Hyatt: Caribu has no technical moat; publisher rights are all that matters
“We all know we can have five developers do it in five months. It's, if she has the publishers... It doesn't matter. She can have a worse product if she owns the publishers.”
Hyatt: Spot On Will Consume Immense Capital Scaling B2C Marketing
“But as soon as you actually start going wider and actually start putting marketing money in, one thing you're going to find about a B to C, you will drink capital marketing this business. This is going to be horrendously expensive to scale.”
Hyatt: There Is No Money in Pet Ride-Sharing
“There's no money in this.”
Hyatt: A $600M total addressable market is too small to matter
“That's a small market. Fifty million a month in an, in a total market, I don't know, whatever, six hundred million a year. It's too small to matter.”
Michael Hyatt predicts Virtual Gurus will eventually hit $20 million in revenue
“This revenue is going to get to twenty million and getting in at two and a half. Think about it. It's one of the best VC returns you'd have.”
Hyatt: Scaling a consumer social startup costs an order of magnitude more today
“The cost to scale this kind of company, I think, has gone up an order of magnitude than what it used to.”
Michael Hyatt: Lab 141 lacks working equipment and commercial proof
“There's no equipment yet. There's no proof in the pudding. There's no real work through.”
Michael Hyatt calls Tot Squad's $15M bridge round a mispriced deal
“It's a mispriced deal.”
Michael Hyatt: Boundless is not an investable business right now
“I guess my, when I step back and I look at this I don't think your business is actually that investable right now.”
Hyatt: I do not fund founders to figure it out later
“So, so, I don't back companies based on this idea that you're going to get a lot of money, and then hopefully, because you're a good guy, you're going to figure it out.”
Hyatt: Boundless is a service business, not a SaaS company
“And this is service business. This is not a SaaS company.”
Michael Hyatt passes on Samaritan, feeling uncomfortable profiting from alleviating homelessness
“So I'm gonna pass, and here's my reasoning. I can't get comfortable around being involved in a business like this because I don't feel comfortable pushing for profit and scaling and all this kind of stuff, and when I have to consider what we're really doing.”
Michael Hyatt says nonprofits should act like businesses and generate profit
“I can tell you that a lot of, you know, nonprofits should act more like businesses and figure out how to make it profitable so they can do more like what you're saying.”
Hyatt: Hearken Struggles Due to Market Decline and Churn, Not Mission
“I think fundamentally, you're in a declining market. You have too much churn. You have too much weightlifting to get these sales done. I'm just saying, I don't fundamentally think you're structured properly to hit the purpose that you're talking about.”
Hyatt: Smart Doghouse Market Can Support 100,000 Units
“But this market's big enough to have, honestly, a 100,000 of these things.”
Hyatt: One-on-one tutoring is an inefficient service model professionals want to escape
“You are still A one-on-one where the other person has to consume, ah, their person hours times rate, which is back to a service model, which is an inefficient model that lawyers and accountants and everybody else are desperate to get out of.”
Hyatt: Fletch is a feature rather than a standalone product
“I'm not that interested in your attendance platform because I think it's a feature, not a product, and it's got a hurdle because it's not only a feature, I've got to put in a piece of hardware, so I'm moderately interested, not that interested.”
Hyatt: Fletch should pivot to enterprise workforce attendance over education
“I don't like the education space and what you're doing. I would like you to be an enterprise product for businesses, for attendance, for workers, where there's real money transacting involved. I think that's the higher value usage, and I think you're going to …”
Hyatt: Playven's 10% take rate is probably not enough to scale
“The reason it's very very expensive, is that 10% gets eaten very quickly on customer acquisition cost, your marketing costs, you're getting in the players. So the 10% isn't probably enough to scale. You have to go through a lot of cash.”