“One of the main reasons why we chose to build midday squares here, we were looking at Toronto and LA is just, I always, I have this, you know, vision of bringing the energy that Nike brought to Oregon to Montreal.”
quote is from the automated transcript, cleaned for reading:
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More from Nick Saltarelli (Nick Salto)
Opinion
Saltarelli: A Founder Cannot Build the Next Nike Using Contract Manufacturers
“You might be able to build a company in five years and flip it to Kellogg's or you know, Nestle, but you ain't building the next Nike with Comends.”
Saltarelli: Retail wholesale revenue is as reliable as software recurring revenue
“Retail wholesale revenue is as good as software. It is like clockwork every 20 days. If you have a product that repurchases, meaning that that's the good sign, right? If people are coming back into their grocery habits or any of those, like it's like clockwork…”
Saltarelli: Big CPG won't reproduce manufacturing lines under $300M revenue
“They won't even look at reproducing a manufacturing line internally unless they have proof points of three hundred million dollars a year of revenue.”
Saltarelli: Founders are the scarce asset, not capital or board members
“Founders need to start taking back not control, but conviction that we are the people that are on the front lines doing the stuff. We are the scarce ones. Money's of abundance. Investors are of abundance. Boards are of abundance.”
Nick Saltarelli: Midday Squares accepts $50M valuation cuts for absolute board control
“We fundraise at lower valuations every single round to control the board and have a complete voting control. So we've taken 10, fifty million dollar cuts from the valuation in order to have those provisions in the term sheets.”
Nick Saltarelli: Whether to fundraise is simple—raise if you lack capital, otherwise don't
“I think people overanalyze a lot of things like all the way down to should you fundraise? Should you not fundraise? It just doesn't fucking matter. All that matters is that you have a goal in mind and you have to get there and to get there is going to have, yo…”
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