Chris Savage & Brendan Schwartz - "Wistia's Remarkable Culture"

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Cambridge-based Wistia has taken the road less-traveled to success. They did not raise a lot of money but now compete with richly-funded startups. What’s their secret? Listen to the interview with the delightful founders of this popular video platform, Brendan Schwartz and Chris Savage, as they discuss the unique culture and vision that make the startup remarkable.

During the interview I pondered naming the episode “They Did It Their Way”; an echo of the song made famous by Frank Sinatra. I decided against this title because Chris and Brendan are nothing like the self-absorbed crooner. Actually, they are two friends from college who built a business together and still enjoy working and socializing with each other. The beautiful story of their friendship is only one of the attractions in this bravura interview.

Highlights include:

• Brendan Schwartz and Chris Savage Bio
• Wistia’s Founders Lived and Worked in a 10-Person House in Cambridge Keeping Costs Low
• “When we started Wistia, we were both 23 years old. I think really the thing that was the most attractive to me was that it was an adventure, and that no two days would be the same.”
• Wistia’s Founders Tried a Lot of Ideas Before They Found Their First Use Case
• How Wistia Found its First Use Case
• Startups Tend to Undercharge for Their Services; Wistia Was No Different in This
• $400 per Month from the First Corporate Client Was a Lot Compared to a Burn Rate of $1600 per Month
• “Today, Wistia is a video platform.” “It’s really trying to make it easy for you to get value from your videos.”
• “There's no way Wistia would be what it is today if we weren't crazy scrappy for many, many years.”
• Sal Asks for Your Review – He Points at Chris & Brendan Significantly!
• Great Advice on Finding Your First Use Case
• The Savage Rule: “If you're not embarrassed by the stuff you're putting out in the world, you probably have taken too long in protecting it or trying to make it perfect…”
• On Being Friends and then Co-Founders – Dos & Don’ts
• Chris Savage & Brendan Schwartz, Like Bettina Hein of the Founder of Pixability, Are Very Wise About their Schedule
• Chris Savage’s Brilliant Responses to the “Sleep When You’re Dead” Idea
• Wistia Has Been Massively Capital Efficient Compared to Brightcove & HubSpot – Their Investors Are Elated!!
• Over-Funded Competitors Undone by the Video Market’s Slower-Than-Expected Growth
• Wistia Is Has Put in Place a Financing Structure Unusual for a Startup
• “We hit on this idea of raising debt so we could do right by the investors, and we could really take a bet on ourselves…”
• Startups Chris Savage & Brendan Schwartz Admire
• Parting Thoughts from the Founders of Wistia
• “I wish everyone could just think longer term.”