In Episode #206, Nathan speaks with Scott Hansbury, CEO of YouStake, a company that gives poker fans the ability to stake their favorite players in real, fully-licensed tournaments. As a 53 year-old entrepreneur and former Sun Microsystems executive, Scott is a goldmine of business insight—listen as he shares those insights with us on today’s show.
- Favorite Book? – The Innovator’s Dilemma
- What CEO do you follow?— Jeff Bezos
- What is your favorite online tool?— Wunderlist
- Do you get 8 hours of sleep?— No
- If you could let your 20 year old self know one thing, what would it be?—Spend more time conducting 24-sponges, filter, and then apply.
Time Stamped Show Notes:
- 01:18 – Nathan’s introduction
- 01:45 – Welcoming Scott to the show
- 02:00 – Giving up the corporate world
- 02:46 – Talking successful exits
- 03:32 – Mezzanine round of funding
- 04:00 – ARR was $15M when they sold to Sun Microsystems at $400M—during the silly days of the internet ‘99
- 05:31 – Staying motivated when you’re “Set for life”
- 07:15 – Staking in the poker industry
- 08:19 – Person to Person sponsorship—IRS approved!
- 08:44 – Bootstrapped to launch
- 10:25 – How the betting/staking works
- 11:08 – So far, YouStake has garnered $2.8M stakes and $1.4M pledges
- 12:30 – There are a shitload of poker fans worldwide
- 14:24 – The average stake is $340
- 15:13 — %5 goes to YouStake and 2.9% goes to fee processors
- 15:53 – Registered and Active Users are the two metrics that matter most to YouStake
- 16:41 – User acquisition is done through social media
- 17:53 – Scott@YouStake.com
3 Key Points:
- Think about building a business overseas—America isn’t always the best place.
- Edgar – Nathan uses Edgar instead of other scheduling tools for Twitter because Edgar cycles through content over and over (buffer/others you have to re-input content over and over – time consuming). In the last several months, Edgar has driven Nathan over 3728 clicks that he didn’t have to work or pay for.
- Host Gator – Powerful web hosting made easy and affordable.
- Wunderlist – The online tool Scott can’t live without
- The Innovator’s Dilemma – Scott’s favorite business book
- Jeff Bezos – The CEO Scott closely follows
- Show Notes provided by Mallard Creatives
If you liked this episode with Scott, you’ll also like these:
204 Daniel Brusilovsky From 0 to 1 Billion Impressions With Imoji Founders Daniel and Jason (Coming soon on iTunes here)
188 Eran Eyal They hit $100k/mo in revenue in 2015, now raising $2.5m round of funding
183 Jules Hill Startup COO Leaves after 500 Accelerator, Left with 1% Equity