Matt Ryder, a $40M/year CEO, says founders kill software companies by chasing quick revenue instead of building quality. He ran Dialer with Declan for years without taking earnings out, reinvesting everything into the product. Long-term software success requires patience and capital commitment, not early extraction.
Most people who move from our industry to software, it doesn't work out. I wonder why you think that is. It's very difficult to grow a business when you need the money from it. Most of them just fail because the people who make them require money from it quickly, which means that the quality of your product is never going to be there. If you want to build a long-term software, you have to be willing to not make money and take money. If I was to run Dialer to maximize revenue, it would fall apart. Me and Declan put money into it and we didn't take money out of it for almost the entirety of it because the software needs the opportunity to grow whilst maintaining a high-quality product. Right.
