The Ledger

Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.

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why aren't all 20 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 1 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable

Disclosure
Zisman funded Golf Genius with $10M of personal money mostly as debt
“From two or nine to 20 20, I find I funded the company with about ten million dollars, my own money, mostly is debt.”
Mike Zisman Jun 3, 2026 ▶ 8:52 Golf Genius: $53M ARR, $10M Self-Funded, Zero VC — Mike Zisman
Disclosure
Zisman: Golf Genius Targets 20% EBITDA Margin and Reinvests the Rest
“My strategy is earn 20% and invest the rest. So we consistently earn about 20% EBITDA margin, invest the rest.”
Mike Zisman Jun 3, 2026 ▶ 7:58 Golf Genius: $53M ARR, $10M Self-Funded, Zero VC — Mike Zisman
Disclosure
Zisman: Golf Genius employs 300 people and has no physical offices
“One other thing I would say is at 300 people, we're still totally virtual. We have no offices.”
Mike Zisman Jun 3, 2026 ▶ 15:28 Golf Genius: $53M ARR, $10M Self-Funded, Zero VC — Mike Zisman
Assertion Not checkable as stated
Zisman: Golf Genius leads tournament software for golf clubs and associations
“So Golf Genius is the leading provider of tournament software to golf Clubs, private clubs, public courses, tours, associations.”
Mike Zisman Jun 3, 2026 ▶ 1:03 Golf Genius: $53M ARR, $10M Self-Funded, Zero VC — Mike Zisman
Prediction Not checkable as stated
Zisman: Golf Genius will not hit Rule of 40 in 2026
“We will not hit the rule of 40 this year.”
Mike Zisman Jun 3, 2026 ▶ 11:33 Golf Genius: $53M ARR, $10M Self-Funded, Zero VC — Mike Zisman
Assertion Not checkable as stated
Zisman: Golf Genius is the largest pure-play golf software company
“It's probably the largest pure play golf software company in the industry.”
Mike Zisman Jun 3, 2026 ▶ 6:05 Golf Genius: $53M ARR, $10M Self-Funded, Zero VC — Mike Zisman
Assertion Supported
Zisman: USGA contracted Golf Genius to build the worldwide handicap system
“And then they came back in 2019 and said, Hey, we also want you to build the new handicap system. There was a new worldwide standard for handicapping, and we want you to build that. And operate it.”
Mike Zisman Jun 3, 2026 ▶ 5:55 Golf Genius: $53M ARR, $10M Self-Funded, Zero VC — Mike Zisman
Assertion Not checkable as stated
Zisman: Golf Genius operates in 62 countries internationally
“One is international, where, although we're in 62 countries it's hand-to-hand combat in each of these countries.”
Mike Zisman Jun 3, 2026 ▶ 16:55 Golf Genius: $53M ARR, $10M Self-Funded, Zero VC — Mike Zisman
Disclosure
Zisman: Golf Genius charges private clubs roughly $4,200 annually
“So our list price, which we stick very close to at a private club today is about 4200 dollars per year for essentially unlimited use of the product for up to, ah, two 18 hole golf facilities.”
Mike Zisman Jun 3, 2026 ▶ 2:59 Golf Genius: $53M ARR, $10M Self-Funded, Zero VC — Mike Zisman
Assertion Supported
Zisman: Millions of golfers have the Golf Genius mobile app
“I mean, millions of people at this point have our mobile app.”
Mike Zisman Jun 3, 2026 ▶ 2:34 Golf Genius: $53M ARR, $10M Self-Funded, Zero VC — Mike Zisman
Assertion Not checkable as stated
Zisman: Golf Genius took 8 years to $1M, 8 to $50M
“It took us eight years to get to a 1,000,008 more years to get to fifty million.”
Mike Zisman Jun 3, 2026 ▶ 8:38 Golf Genius: $53M ARR, $10M Self-Funded, Zero VC — Mike Zisman
Assertion Open · timeframe Jun 2026
Zisman: Golf Genius has raised only $11M in total capital
“We only raised eleven million bucks.”
Mike Zisman Jun 3, 2026 ▶ 9:14 Golf Genius: $53M ARR, $10M Self-Funded, Zero VC — Mike Zisman
Disclosure
Zisman: Golf Genius Holds $14M in Cash, Completed 10 Acquisitions
“It's actually fourteen million in cash. Like, what the hell are we doing sitting on fourteen million in cash? It can fund acquisitions. We've done 10 acquisitions.”
Mike Zisman Jun 3, 2026 ▶ 7:11 Golf Genius: $53M ARR, $10M Self-Funded, Zero VC — Mike Zisman
Disclosure
Golf Genius finished 2025 at $53M to $54M ARR
“Yeah, more like 54, fifty three million.”
Mike Zisman Jun 3, 2026 ▶ 11:23 Golf Genius: $53M ARR, $10M Self-Funded, Zero VC — Mike Zisman
Assertion Supported
Zisman: Golf Genius is used in 11,000 golf courses
“We're in 11,000 courses, so we're pretty, plus we do lots of other things, but it's certainly the most inexpensive software that club will have because they also need software to, you know, do their point of sale, to manage their T-sheet, to do their website, …”
Mike Zisman Jun 3, 2026 ▶ 3:23 Golf Genius: $53M ARR, $10M Self-Funded, Zero VC — Mike Zisman
Assertion Not checkable as stated
Zisman: Golf Genius holds more cash than its total capital raised
“It's been, the company's been profitable since 2017. I'd like to say we have more cash on our balance sheet than all the money we've ever raised.”
Mike Zisman Jun 3, 2026 ▶ 6:51 Golf Genius: $53M ARR, $10M Self-Funded, Zero VC — Mike Zisman
Assertion Not checkable as stated
Zisman: Over 100 companies interface with Golf Genius through APIs
“We are a platform. I mean, we have over a hundred companies interfaced our software through our APIs.”
Mike Zisman Jun 3, 2026 ▶ 16:23 Golf Genius: $53M ARR, $10M Self-Funded, Zero VC — Mike Zisman
Disclosure
Golf Genius completed zero acquisitions in 2025 over valuation disagreements
“Disappointment to me in 20, 25 was they didn't do any acquisitions. We looked at some, but we couldn't get together on, on price.”
Mike Zisman Jun 3, 2026 ▶ 13:05 Golf Genius: $53M ARR, $10M Self-Funded, Zero VC — Mike Zisman
Disclosure
Zisman: Senior leadership owns 30% to 40% of Golf Genius equity
“Let's say me and the other seniors own 30%, 40%.”
Mike Zisman Jun 3, 2026 ▶ 10:55 Golf Genius: $53M ARR, $10M Self-Funded, Zero VC — Mike Zisman
Assertion Not checkable as stated
Zisman: Golf Genius maintains roughly 6% to 7% annual employee attrition
“We probably have six, seven percent attrition, including in Romania for developers.”
Mike Zisman Jun 3, 2026 ▶ 9:50 Golf Genius: $53M ARR, $10M Self-Funded, Zero VC — Mike Zisman
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