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justinkan's profile
Justin Kan ❄️
Justin Kan ❄️
Justin Kan  ❄️
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@justinkan

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Justin Kan  ❄️Verified account

@justinkan

From the bottom to the top & back again | Co-founded @twitch, now working on making videos, http://goat.vc  @fractalwagmi @thequestmedia

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justinkan.com
Joined April 2009

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    Justin Kan  ❄️‏Verified account @justinkan 26 May 2021

    My first company @twitch sold for a billion dollars. My second one lost $75 million in 36 months. People love talking about success, but today I'm going to talk about failure. It's time to be honest about Atrium:pic.twitter.com/QHrNHpAZaI

    6:45 PM - 26 May 2021
    • 10,700 Retweets
    • 56,307 Likes
    • Kaito Shoma zahra Renu 521–512 THz marek Mehek Prabhakar Matt (🦇,🔊) Akshaynath R Briana V. Adzoyit
    614 replies 10,700 retweets 56,307 likes
      1. New conversation
      2. Justin Kan  ❄️‏Verified account @justinkan 26 May 2021

        During my time as Partner at @ycombinator, my ambition to build something big only grew. I took the plunge and decided to follow the 'age-old' wisdom of fixing my own problem and building a startup around the solution. (cont.)

        5 replies 50 retweets 1,250 likes
        Show this thread
      3. Justin Kan  ❄️‏Verified account @justinkan 26 May 2021

        I hated doing legal work for my startups and never really understood what I was paying for. The entire experience was too complicated and opaque. I started Atrium to make this easier for founders. (cont.)

        3 replies 43 retweets 965 likes
        Show this thread
      4. Justin Kan  ❄️‏Verified account @justinkan 26 May 2021

        I built up a team of five founders with different backgrounds. With my name at the helm, everyone was running to us with funding offers. We raised a $10m series A with an idea - a 10-slide pitch deck.pic.twitter.com/bo1AAY0kUL

        8 replies 47 retweets 1,019 likes
        Show this thread
      5. Justin Kan  ❄️‏Verified account @justinkan 26 May 2021

        Sometimes a new idea is not enough Despite having a great team, great investors, and early customers, our rosy start soon began to wither. Many things contributed to the eventual downfall of Atrium. Here is what I learned from my failures:

        3 replies 78 retweets 1,088 likes
        Show this thread
      6. Justin Kan  ❄️‏Verified account @justinkan 26 May 2021

        Build something you believe in and love, not for your ego As with most founders after a big sell, my ego kept nagging me to think 'bigger'. My dreams were full of insanely large numbers. A ten-billion-dollar company. A hundred-billion-dollar company.

        12 replies 246 retweets 2,389 likes
        Show this thread
      7. Justin Kan  ❄️‏Verified account @justinkan 26 May 2021

        We weren't clear about our mission early on It is very hard to write the mission after the fact. You should start with a clear reason to exist and filter early hires for believers. Without clearly defined goals between co-founders, huge frictional costs can arise.

        5 replies 177 retweets 2,182 likes
        Show this thread
      8. Justin Kan  ❄️‏Verified account @justinkan 26 May 2021

        We hired too fast Hiring too quickly - especially before PMF can be a fatal mistake. At Atrium, we hired too many people too fast and we failed to set a cohesive culture early. This is incredibly hard to change later on.

        12 replies 146 retweets 1,838 likes
        Show this thread
      9. Justin Kan  ❄️‏Verified account @justinkan 26 May 2021

        Prioritizing growth over product We raised a $10m series A with just an idea. We focused on growth over everything else. While we successfully grew our customer base, we couldn't retain them. We simply hadn't spent enough time to figure out our product.

        6 replies 140 retweets 1,581 likes
        Show this thread
      10. Justin Kan  ❄️‏Verified account @justinkan 26 May 2021

        We didn't define our 'who' early on It wasn’t clear who Atrium served; the lawyers or the clients who were buying our legal services. Without making the distinction, we fell into the pit of trying to be everything to everyone.

        3 replies 94 retweets 1,372 likes
        Show this thread
      11. Justin Kan  ❄️‏Verified account @justinkan 26 May 2021

        In contrast, early on in Twitch, we decided that we would serve only streamers and iterated till we could serve them in the best possible way.

        4 replies 62 retweets 986 likes
        Show this thread
      12. Justin Kan  ❄️‏Verified account @justinkan 26 May 2021

        Win or die leadership My colleagues needed to be supported and set up for success. My “win or die” strategy didn’t work and worse, strained relationships. I lost several friends this way. A more empathetic approach would have at least been a morale boost for the team.

        6 replies 115 retweets 1,389 likes
        Show this thread
      13. Justin Kan  ❄️‏Verified account @justinkan 26 May 2021

        Not looking inwards and asking big questions Not figuring out my intrinsic motivation made it impossible to stay resilient in tough situations. My big question was, do I really want to be the CEO and build products? I also had no passion or real interest in legal tech.

        4 replies 60 retweets 1,032 likes
        Show this thread
      14. Justin Kan  ❄️‏Verified account @justinkan 26 May 2021

        (cont.) After Atrium, I realized that building product and being a CEO was not my primary goal. I love interesting people, stories, and ideas - all of this has led me to content creation. I am a much more actualized now and pursuing something that I find fulfilling.

        5 replies 48 retweets 1,119 likes
        Show this thread
      15. Justin Kan  ❄️‏Verified account @justinkan 26 May 2021

        My failures do not define me It sucks having to shut down a company. I was not the only one affected, and I let a lot of people down. Dealing with it moving on to discover what’s important is what really matters. (Cont.)

        7 replies 90 retweets 1,205 likes
        Show this thread
      16. Justin Kan  ❄️‏Verified account @justinkan 26 May 2021

        Faith in myself that I will emerge a better and stronger person led to personal discoveries that exceeded my wildest expectations

        3 replies 71 retweets 983 likes
        Show this thread
      17. Justin Kan  ❄️‏Verified account @justinkan 26 May 2021

        Be proud of your failures - wear them like a badge. Reply to this thread and share what you've learned from your own shortcomings, would love to read them.

        75 replies 221 retweets 1,879 likes
        Show this thread
      18. Justin Kan  ❄️‏Verified account @justinkan 26 May 2021

        Read the full article + more content like this over at my weekly newsletter, The Quest Digest. Subscribe to download my thoughts and learnings in startup, business, and tech, to wellbeing and everything in between.https://thequestpod.substack.com/p/the-story-of-atrium …

        19 replies 164 retweets 1,456 likes
        Show this thread
      19. Justin Kan  ❄️‏Verified account @justinkan 26 May 2021

        I made a video on this topic, check it out here:https://www.youtube.com/watch?v=3dANQmtlkEo …

        98 replies 149 retweets 1,471 likes
        Show this thread
      20. End of conversation

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