
Ever since the 2008 financial crisis, intellectuals have had to ask themselves, ‘Does Capitalism Still Work?’ I have explored this question for several years now, beginning with a seminal column I wrote for Forbes: Capitalism’s Fundamental Flaw. Two particular problems stand out.
>>>Sramana Mitra: What about your team? What kind of team did you need to make this happen?
Griffin Thall: Right now, we have about 40 employees. Everyone is an amazing team member. They are creative and hardworking. A lot of our experienced team members have come from other surf brands or apparel brands.
>>>Sramana Mitra: What was the customer acquisition strategy on each track?
Griffin Thall: For B2C, we would pass out bracelets to people in college campuses. We would go to street fairs. We would do anything that we could that was the grassroots to grow in marketing.
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If you haven’t already, please study our Bootstrapping Course and Investor Introductions page.
Griffin and his partner have turned an investment of $200 into a $130M company. Amazing execution!
Sramana Mitra: Let’s start at the beginning of your journey. Where are you from? Where were you born and raised? What kind of background did you have?
>>>Sramana Mitra: Did you have any expertise in shoe design? Who designed the shoe?
Bret Rasmussen: I had no clue on how to design a shoe or how to make a shoe. I just started networking. There was a local design firm here in Salt Lake that had done shoe design for a handful of brands.
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If you haven’t already, please study our Bootstrapping Course and Investor Introductions page.
To succeed in e-commerce today, you need to look for unserved niches with unique products.
Sraman a Mitra: Let’s start at the beginning of your journey. Where are you from? Where were you born and raised? What kind of background did you have?
>>>Sramana Mitra: This is before any venture capital. You’re still working with your $1.5 million angel round.
Roberto Milk: No. In April of 2000, we did our first venture capital round.
Sramana Mitra: How much did you raise?
>>>Sramana Mitra: It was going to be an artisan marketplace, right?
Roberto Milk: That’s right. We were leaving these corporate positions for that.
Sramana Mitra: How did you get your first set of artisans to come on board and start selling on the site?
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