In this company-wide meeting, Flax leadership outlines a radical new compensation and ownership model. Employees can set their own salaries and allocate up to 40% of the revenue generated by their product or service to discretionary spending, including personal compensation, marketing, or other needs. Additionally, they may receive up to 10% of their product’s monthly revenue in Flax shares, which can be sold back to the company or to other employees. The company will invest in remote‑work infrastructure, such as internal Airbnb houses worldwide equipped for remote teams, and launch an internal education portal on Monday.com to share product‑building knowledge. Transparency is emphasized through public Slack channels and Google Drive. Financial metrics are shared: $2 M annual revenue, $140 k in the last 28 days, projected $180 k in December, with a goal of $400 k monthly revenue. Strategic goals include launching the first internal Airbnb in Mexico and helping each team member build a $1 M‑per‑year product. The overarching mission is to automate business growth by creating products and services that run themselves for clients.
Chapters
Now, for example, let's say he sells this service to 4 of our Flax clients for $5,000 a month each. Then Vova's service, his product is making $20,000 per month. You can spend up to 40% of the money that your product or service makes. So if Vova's product makes $20,000 a month, he can spend $8,000 per month and choose how that money is spent. You can spend it on literally whatever you want. For example, Vova could give himself $6,000 every single month, spend $1,500 a month and spend $500 a month on marketing the product and service to try to increase it to get more clients. The other 60% gets spent by Flax on growing our company. So Flax will be spending on accounting, bookkeeping, legal, software like Slack, Gmail, Frame.io, Monday, sales, marketing, hiring, consulting, kind of everything that Flax is already spending money on, essentially. Now, I think that the way that we become the best company in the world is we make the best products and services in the world. Those are the ones that make the most impact. They have the most happy customers, they make the most money, they make the world as healthy as possible, and they're as fulfilling as possible to create. Now, I want Flax to be a foundation for us to all build products and services off the back of. Flax is also going to spend its money on things like internal Airbnbs. So houses all over the world that you can travel to and stay at. Obviously we're a remote company. I'd love for Flax to start spending some of its money on things that make working remote even more enjoyable. These houses will be optimized for remote work, so we'll have standing desks, fast Wi-Fi, equipment to explore the local area like paddleboards. There'll be one-bedroom houses and multi-room houses so that you can either work solo or meet other people on the Flax team. It should be really, really easy to build products. So we're going to launch an education portal. As a team where we'll share everything we know about building products with each other. Currently, this portal will be hosted on Monday. You guys should see a board on Monday if you search on Monday boards right now called Team Training. It's an OG board. It hasn't been updated recently, but you'll see that board existing, and that's where we're going to start posting training. So if you guys have something that you want to share, this meeting recording, for example, a link to this will get linked on that Team Training board, as well as other videos and training that we're going to be creating. To make it easy, as easy as possible to build products and services. So I'll be teaching everything I know to you guys as well about creating products and services, and we'll be hiring other experts and people that have created huge, very impactful products and services to make training videos for all of us. We'll also be posting as much of our training as possible on YouTube. We're practicing being fully transparent, hence the public Slack channels, hence the public Google Drive. We want to be as transparent as possible with literally everything. When I personally see an opportunity for products, I'll send them into our #general channel. I'd love for you guys to do the same thing. Um, there's lots and lots of products and services that our customers need right now that haven't been built. So there's lots of opportunities to go and create these products and services. The other thing is you'll also become an owner of Flax. So you can choose to pay yourself up to 10% of the revenue that you generate in stocks or shares of Flax. For example, if Vova's product is making $20,000 per month, he can choose to give himself up to $2,000 per month worth of shares in Flax. Flax has grown currently 250% every year for the last 4 years since we started. That means that $2,000 in shares today will be worth $5,000 next year and $12,500 the year after. So you get to benefit from your own work for the rest of your life. The other thing that I haven't mentioned with shares is that you'll be able to sell them at any point. You can either sell them to other people or you can sell them back to Flax. Flax will be keeping cash reserves to to buy shares back from you at any point in case you do want to sell them. Where we are at right now, our approximate yearly revenue is about $2 million. Our revenue in the last 28 days is just over $140,000, and our expected revenue this month in December is $180,000. I think with these changes that we are doing, um, with all of us building products and services as a team, we can grow incredibly quickly. The faster we grow, the more your shares will be worth. So a couple of quick goals: $400,000 a month in revenue. We're going to launch our first internal Airbnb in Mexico. And then another goal that I have currently is helping everyone on the team create a product that generates $1 million per year. These are two goals of mine over 2024, but I know that there's lots of other goals that everybody on this team has as well. The ultimate mission, the ultimate reason that we're doing this is our goal as a company is now automating business growth. So we want to create products and services that help businesses grow without the need for them to, to be involved. For example, when we're running ads, Google Ads, Facebook Ads for our customers, our goal is to run that, run their ads without them needing to do anything. We don't want them to have to think about ads. We don't want them to have to do analysis or look at ad creatives or look at their website. We just want their businesses to grow without them thinking about it. And the only, the only requirement for products and services that you're creating is it has to be in line with this mission of automating business growth. And the fact is, if it's making life easier for some sort of business or person, then it's likely automating business growth.
So this morning I made a couple of crazy—
my hair is fucked—
a couple of crazy announcements for the entire company. I'm letting people choose their salary. I'm letting people choose how much they pay themselves, essentially.
I'm also letting them choose where they work and when they work.
That's already something that happens at Flax, but right now people can't choose who they work with and what they work on. So those are a couple of other changes that I'm making. You'll essentially get free freedom, work whenever you want, how long for, for as long as you want on whatever you want with whoever you want, wherever you want.
Yeah.
So making some crazy changes. I announced lots of these on this company-wide meeting. We're going to be documenting as much of this as possible, trying to be as transparent as possible with everything we're doing at Flax. I think it's going to be really cool and I'm stoked to build in public, I best guess.
