4 ms·
He was ruthless about keeping overhead low. Low margins kill you when you have higher fixed costs. He also didn't need to share as much with co-founders. They
by mathattack 10y ago
He was ruthless about keeping overhead low. Low margins kill you when you have higher fixed costs. He also didn't need to share as much with co-founders. They also had their IPO much earlier in the corporate life cycle than companies do today. His dilution happened with and after the IPO.
- rdlecler1 10y agoIPO is also a dilution event, as are any subsequent offerings. Still surprising given their capital needs to grow quickly that he retained so much.