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Vince Reed shut down his app company even though it had strong recurring revenue. He turned down an extra $10 million because he couldn't guarantee customer satisfaction and had ethical concerns about continuing.
Vince Reed shut down his app company even though it had strong recurring revenue. He turned down an extra $10 million because he couldn't guarantee customer satisfaction and had ethical concerns about continuing.
The app company you had to shut that down. You had six figures of recurring revenue that you had to stop. Why?
Nobody was complaining because people had an app. Just so everyone knows, you know, we were just saying we're going to get it in both Apple and Android Store. But people knew that depending on the kind of content sometimes they knew that they may not get approved an app. Most people that got in got both apps the second we knew that they would not get approved. Let's say there was 100 apps. All of those people got refunded. They didn't get an Apple.
You could have because you knew this in the back end what was going on. Technically you could have just let this go on.
100%. I could have made another 10 million.
But why didn't you.
Sleep at night, Mike?
That's right.
You wouldn't be here if I was that kind of guy.
That's right.
