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Paul Hedrick

11 statements across 1 episodes · 1 bullish · 1 bearish · 1 people on the record · first statement May 19, 2025 by Paul Hedrick · across every show →

On the record as a speaker too: Paul Hedrick's record, appearances and statements → this page counts the times other people say the name.

Everything said about Paul Hedrick, oldest first

May 19, 2025
Disclosure
Hedrick: Tecovas cut 20 of 70 staff and reduced salaries in 2020
“I did have to reduce the workforce. I think we had 70 employees at the time, and we did a reduction in force of about 20. And then we lowered everyone's salary as well. And then I had to raise it, kind of an emergency round that summer.”
Paul Hedrick May 19, 2025 ▶ 57:08 Tecovas: Paul Hedrick
May 19, 2025
Assertion Not checkable as stated
Hedrick: Tecovas spent $15,000 to $17,000 on launch branding and web design
“All in on branding and inclusive of basic web design. I think I paid 15 or 17,000 dollars, and that included.”
Paul Hedrick May 19, 2025 ▶ 30:33 Tecovas: Paul Hedrick
May 19, 2025
Disclosure
Hedrick: Tecovas was started with $100,000 in personal savings
“I had about a 100,000 dollars.”
Paul Hedrick May 19, 2025 ▶ 18:47 Tecovas: Paul Hedrick
May 19, 2025
Assertion Not checkable as stated
Hedrick: Tecovas generated $20,000 in sales on launch day
“Turned it on, sent four or 5000 emails out, and had 20,000 dollars of sales in the first day so about a hundred, you know, 80 to a hundred pairs, I forget.”
Paul Hedrick May 19, 2025 ▶ 43:01 Tecovas: Paul Hedrick
May 19, 2025 neutral
Disclosure
Hedrick planned to launch the first canned cold brew brand
“I went down the rabbit hole of a beverage company, specifically a coffee company, was planning to start the first canned cold brew coffee beverage company, which at the time would have been fairly innovative.”
Paul Hedrick May 19, 2025 ▶ 10:07 Tecovas: Paul Hedrick
May 19, 2025
Assertion Not publicly verifiable
Hedrick: Tecovas Reached $2M Revenue in Year One, $13M in Year Two
“We did about a little under two million the first year, 13 the second, and it was coming into that third full year in business, 2018, that we were clearly making a pretty big splash,”
Paul Hedrick May 19, 2025 ▶ 50:20 Tecovas: Paul Hedrick
May 19, 2025
Disclosure
Hedrick: Carried $30,000 in credit card debt for three years bootstrapping Tecovas
“I probably took on 30,000 dollars of credit card debt. I don't think I even erased for three years.”
Paul Hedrick May 19, 2025 ▶ 34:06 Tecovas: Paul Hedrick
May 19, 2025 negative
Disclosure
Hedrick: Tecovas rejected pre-orders to avoid customer uncertainty
“I had this almost illogical aversion to pre-orders because I wanted the whole experience of Tecovas to always be fast and free and amazing, and so I didn't want to subject the consumer to uncertainty”
Paul Hedrick May 19, 2025 ▶ 39:04 Tecovas: Paul Hedrick
May 19, 2025
Assertion Not checkable as stated
Hedrick: The first Tecovas boots were designed in Microsoft Paint
“Yeah, the first boots were designed in Microsoft Paint.”
Paul Hedrick May 19, 2025 ▶ 27:47 Tecovas: Paul Hedrick
May 19, 2025
Assertion Not checkable as stated
Hedrick: Tecovas faced a $200,000 factory minimum order to launch
“It was about a 200,000 dollar minimum.”
Paul Hedrick May 19, 2025 ▶ 29:00 Tecovas: Paul Hedrick
May 19, 2025 positive
Assertion Partly supported
Hedrick: Tecovas Revenue Grew From $80M to $140M in 2020-2021
“I mean, we'd gone from, I think we did, went from 80 to a hundred forty million in revenue between twenty-twenty and twenty-twenty-one, and it was so clear that the company was on a good track again post-COVID.”
Paul Hedrick May 19, 2025 ▶ 1:04:35 Tecovas: Paul Hedrick
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