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225. Andrew Mason: When Your Plan B is a Billion-Dollar Idea

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Andrew Mason (@andrewmason) started a little website called The Point. An investor friend of his gave him a million dollars in seed money. The Point failed, but Andrew then used that seed money to pivot his idea into the fastest-growing company in history. Groupon hit a $1 billion valuation in only sixteen months. For someone with no entrepreneurial experience at all, this was crazy. Yahoo! offered to buy the company for $3 billion. Google offered more than $5 billion. Early on, the media wanted to adore him. After the company went public, the media wanted to abhor him. Groupon’s current valuation: a modest $400 million. After Groupon, Andrew started a company called Detour. Once again, the idea failed. But once again, he was able to find a great clue for a new company in the company he was already building. Now, Andrew is the CEO of Descript. Descript is like a word processor for audio. If you’ve ever tried to edit spoken-word audio, you know how time-consuming and frustrating it can be. Descript makes editi