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Bootstrapped Giants

Bootstrapped Giants

By: Andrew Warner and Jesse Pujji
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Behind the scenes stories of how we're building bootstrapped companies© 2025 Andrew Warner and Jesse Pujji Economics Leadership Management & Leadership Marketing Marketing & Sales
Episodes
  • Close - Focused CRM does $50 million a year
    Jun 18 2025

    [00:00:00] Intro – Andrew sets up the conversation: sales reluctance, AI, and CRM evolution
    [00:00:47] Steli explains Close's positioning: high-communication CRM for salespeople
    [00:01:41] Revenue milestone: Close is on track to hit $50M this year
    [00:02:36] Bootstrapping vs. fundraising: why Close chose profitability over VC
    [00:04:01] Why staying small and focused is their competitive advantage
    [00:04:51] Competing with giants: don’t out-fund, out-focus
    [00:05:31] The power of saying no and maintaining a narrow product scope
    [00:06:52] Product-led growth: Close doesn’t rely on integrations to win customers
    [00:07:48] Focusing on deep communication use cases sets Close apart
    [00:08:51] Why they resist chasing enterprise customers
    [00:09:30] Andrew compares this strategy to ClickUp’s broader, less focused model
    [00:10:10] Saying no to tempting opportunities to stay true to the customer
    [00:11:35] AI as an accelerant for focused companies with strong opinions
    [00:13:05] Close’s AI vision: sales inbox automation and no lead left behind
    [00:14:44] Andrew’s “AI wrapper” idea — simple products that succeed by layering AI
    [00:16:28] The future of software: niche-focused, AI-powered tools
    [00:17:23] AI changes what it means to “build” a product
    [00:18:06] Steli warns against the belief that product alone drives success
    [00:18:53] Sales is often the missing piece in failed startups
    [00:20:32] Don’t dismiss simple wrappers — execution matters more than ideas
    [00:21:18] Close monitors product-market fit actively — it’s always shifting
    [00:22:24] VoicePen example: AI product evolution from wrapper to workflow
    [00:23:48] Talking to customers weekly keeps Close grounded
    [00:24:35] Andrew presses on how to extract value from those calls
    [00:26:07] The real problem: most people aren’t willing to talk to customers
    [00:26:52] From agency to SaaS: how Close transitioned from services
    [00:28:18] Steli’s warning: don’t jump too quickly from services to product
    [00:30:32] Andrew asks for Close's best sales tactics
    [00:31:38] Speed matters: follow up within minutes, not days
    [00:32:57] Long-term follow-up wins deals — even 6 years later
    [00:34:50] Why Close built high-quality, technical customer support
    [00:36:00] Trust is built through understanding real customer problems
    [00:37:01] Steli shares the Close.com domain story — persistence paid off
    [00:38:33] Final thoughts: $50M revenue and still just getting started

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    49 mins
  • He's controlling ChatGPT responses
    May 12 2025

    [00:00:36] Intro: ChatGPT as a traffic driver and Chirag’s early insight
    [00:01:48] Revenue Numbers and Profitability of Taco
    [00:02:24] Personal investment strategy and non-AI assets
    [00:03:36] How Chirag uses AI agents to replace writers and boost efficiency
    [00:05:42] What makes Taco a true AI-powered agency
    [00:07:03] Tracking brand rankings inside ChatGPT and Perplexity
    [00:08:33] Tools used to measure AI visibility and rankings
    [00:09:18] How to rank higher in AI search engines like GPT and Perplexity
    [00:10:30] Paid placement strategies in high-authority sites to boost AI visibility
    [00:11:06] Why AI search traffic converts better than Google
    [00:12:36] Chirag’s backstory: discovering SEO through Neil Patel and Mixergy
    [00:14:15] Cold-emailing Neil Patel and landing a $10K/month contract
    [00:15:27] Lessons from working with Neil and getting exposure to high-performers
    [00:17:06] Transitioning to CMO at Medley and moving into healthcare marketing
    [00:18:36] Failed Facebook campaigns and what really worked to reach doctors
    [00:22:39] Medley’s collapse and fraud charges against executives
    [00:25:21] Leaving Medley to care for his mom during cancer treatment
    [00:26:06] Why Chirag founded Taco based on gaps he saw in SEO agencies
    [00:27:54] Belief that search is changing—not dying—with rise of LLMs
    [00:28:48] Re-embracing SEO as a valuable, evolving skillset
    [00:30:00] Getting first customers through referrals and agency partnerships
    [00:32:06] Using relationships to close deals instead of competing on services
    [00:33:00] Discovering Mutual Intro from Jesse’s post and seeing results
    [00:34:57] Why he needed a repeatable customer acquisition system
    [00:36:00] Cold outreach stories from college and early networking
    [00:37:30] Setting up Mutual Intro infrastructure with just 2 people
    [00:39:27] Becoming systems-oriented and building processes
    [00:41:42] Joining the sales accelerator and breaking down the ROI
    [00:42:54] Generated nearly $1M in run-rate revenue from Mutual Intro alone
    [00:43:03] Future of AI search vs. Google’s market position
    [00:45:09] Why Google can’t rush into full AI interface without risk
    [00:47:06] Search behavior is fragmenting—more room for new players
    [00:48:27] Why now is a land grab moment in AI search optimization
    [00:49:21] SEO history repeating in the age of LLMs
    [00:49:57] Organic optimization matters more than ever in AI-led search
    [00:50:42] Closing thoughts and Taco’s vision moving forward

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    51 mins
  • 1440 is a Bootstrapped Giant
    May 1 2025

    [00:00:00] Quick Montage (Growth, Grit, Vision, Revenue, Meaning of 1440)

    [00:00:36] Intro: Why 1440 is Different

    [00:01:48] Revenue Numbers and Profitability

    [00:02:24] How They Funded Without Venture Capital

    [00:04:48] How Big Can an Email Newsletter Get?

    [00:05:15] Why They Ignored Advice to “Go Niche”

    [00:06:09] 1440’s Thesis: Inch-Deep, Mile-Wide for the Intellectually Curious

    [00:08:24] Tim’s Previous Startup: When in Rome (Failure Story)

    [00:11:15] Lessons on Unit Economics and Why When in Rome Failed

    [00:15:09] Why Email Newsletters Are Such Great Businesses

    [00:16:03] Inspirations: Sam Parr, Morning Brew, and the Hustle

    [00:18:45] Launching to 78 Friends and Family

    [00:20:06] Early Product Market Fit Signals

    [00:21:45] Feedback: Why They Removed Pictures from the Newsletter

    [00:24:00] Hiring Timeline: When They Brought in Their First Editor

    [00:25:48] Drew’s Grit: Waking Up at 4AM to Write

    [00:26:51] First $100K in Revenue: Growth Strategy and Milestones

    [00:29:15] Current Growth: 300K Subscribers/Month, 50% Retention

    [00:31:39] Economics: Revenue Per Email Open

    [00:32:06] Comparing Broad vs. Niche Newsletter Strategies

    [00:35:33] Why 1440 Focused on One Product (Until Now)

    [00:39:00] Scaling Discipline: Lessons from Private Equity

    [00:42:09] No Layoffs, High Revenue per Employee, Control Through Bootstrapping

    [00:43:30] New Product Launch: Knowledge Platform (Topics)

    [00:46:57] The Vision: Human-Curated Knowledge vs AI

    [00:49:30] Meaning Behind the Name "1440"

    [00:49:48] Closing Thanks

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    50 mins

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