“Somebody else came to me and was like, hey I've got Facebook stock to sell to, and so I hooked up a friend of mine with that Facebook stock, and he bought 50 K worth of stock, And that 50 K ended up being worth, like, eight million dollars for him, which is kind of amazing.”
quote is from the automated transcript, cleaned for reading:
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More from Suleman "Suli" Ali
AssertionNot checkable as stated
Ali: Bill Gurley yelled at founder over lost Andreessen Horowitz deal
“Friend of mine was raising money and got a term sheet from Andreessen Horowitz and Bill Gurley at Benchmark and went with the Andreessen Horowitz term sheet. And Bill Gurley was so mad that he called the founder up and like yelled at them for two hours. And se…”
Suleman "Suli" AliJan 24, 2023▶ 39:38Behind The Scenes of Selling My Company For Millions | Suli Ali (#410)
AssertionNot checkable as stated
Ali: TinyCo's a16z Series A was almost torpedoed by an ex-cofounder
“I started that company, then I started TinyCo and we were raising our series A from Andreessen Horowitz and he found out and He sent them an email saying, you shouldn't let this guy you shouldn't invest in this guy call me. And so they called him and, you know…”
Suleman "Suli" AliJan 24, 2023▶ 1:00:41Behind The Scenes of Selling My Company For Millions | Suli Ali (#410)
AssertionPartly supported
Ali: Travis Kalanick drove to a VC firm to block Lyft investment
“Like Travis, the Uber CEO, when he heard that some company, some VC fund was investing in Lyft, he stopped what he was doing. He drove down to that VC firm and said, here are all the reasons you shouldn't invest in Lyft.”
Suleman "Suli" AliJan 24, 2023▶ 1:01:25Behind The Scenes of Selling My Company For Millions | Suli Ali (#410)
Insight
Ali: Telling acquirers you are not for sale often gets you disqualified
“When you ask an entrepreneur if they want to sell their business, entrepreneurs are told to say, no, I do not want to sell my business. And they expect that the buyer is going to come over the top and say, even if you don't want to sell your business, we're su…”
Suleman "Suli" AliJan 24, 2023▶ 12:59Behind The Scenes of Selling My Company For Millions | Suli Ali (#410)
Insight
Ali: High valuations and competition make early-stage investing unprofitable
“So the combination of high valuations and increased competition makes it really hard to make any money as an investor.”
Suleman "Suli" AliJan 24, 2023▶ 41:13Behind The Scenes of Selling My Company For Millions | Suli Ali (#410)
Opinion
Ali: Squarespace is super undervalued and managed for breakeven, not profit
“I'd love to buy it because I think it's a great company that's super undervalued. It's not being run to maximize profits. So it's being run in a way that keeps it at breakeven.”
Suleman "Suli" AliJan 24, 2023▶ 1:04:37Behind The Scenes of Selling My Company For Millions | Suli Ali (#410)
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