Sell? Die? No. Grow profitably. How Ooshma Garg and Gobble did it

Ooshma Garg went from spending more than a million dollars a month to putting nearly that much into her bank account every month. How? She chose to go profitable. Learn about how she found product market fit, how she coped with the implosion of Blue Apron in the public markets, and why Gobble is poised to be the best food technology startup growing profitably and independently today.

Want to try Gobble? Use my referral code for $50 in free Gobble credit — https://www.gobble.com/garry50

00:00 Intro
01:35 How Gobble got started in 2011
02:04 First idea: peer to peer lasagna
03:08 The breakthrough
03:40 Food tech must nail the food too
05:13 The secret of long term retention for food IP
07:50 Easier and tastier = best lifetime value
08:33 Gobble's 1000 days to innovation: How they got product market fit
08:50 $6M ARR overnight
09:47 What to do when a worse competitor raises more money
11:44 Markets are voting machines early and weighing machines later
12:15 On burning $1M/mo to earning nearly that much
13:54 When you can't raise, get profitable
14:57 Digital ad buying lessons: ROI and market depth
17:12 You don't know if you can be profitable until you try
18:36 Default alive gives you control
20:49 The future of Gobble after profitability: re-investment
22:56 Great food businesses generate cash
24:37 Ooshma's hardest lessons she wishes she knew when she was 22

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Hi, I'm Garry Tan — I'm a designer, engineer, and investor in early stage startups. Cofounder and managing partner of Initialized Capital, an early stage venture capital fund that was earliest in Coinbase and Instacart. We're a team of 8 investing partners with over $500M in assets under management and our startups have created more than $45 billion in market value in the past 8 years. We focus on pre-product-market-fit seed. Selected for Forbes Midas List Top 100 Best Global Venture Capitalists for 2019 and 2020. 🚀

Previously a partner at Y Combinator. Invested in and directly worked with over 700 companies in 5 years from the earliest possible stage, often just an idea.

Before that, I cofounded Posterous and helped build it to a world-class website used by millions. (Acquired by Twitter) I also cofounded the engineering team for Palantir Technology's quant finance analysis platform, and designed the current Palantir logo and wordmark.

I love building things.

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