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Acquired

Epic Games

Acquired

Ben Gilbert and David Rosenthal

Venturecapital, Ma, Investing, Acquisitions, Startups, Vc, Investment, Business, Technology

4.82.9K Ratings

🗓️ 2 September 2020

⏱️ 147 minutes

🧾️ Download transcript

Summary

We go deep behind the "epic" story of a plucky game developer from Cary, North Carolina (by way of Potomac, Maryland) which, after bootstrapping for its first 22 years, has quietly morphed into an $18b juggernaut that may become the most important technology company for the next evolution of the internet. And oh yeah, its founder, CEO and controlling shareholder? He cares more about land conservation than he does about money, he's beholden to no one and has the firepower of China's biggest internet giant behind him, and he's willing to stare down Apple, Google and anyone else who doesn't support his vision of an open and equal-opportunity internet future in a fight to the death. You'll want to buckle your seats for this one!!

If you want more Acquired and the tools + resources to become the best founder, operator or investor you can be, join our LP Program for access to our LP Show, the LP community on Slack and Zoom, and our new Book Club live sessions with authors like Hamilton Helmer of 7 Powers and Will Thorndike of The Outsiders. Join here at: https://acquired.fm/lp/

Sponsors:
Vanta: https://bit.ly/acquiredvanta

Statsig: bit.ly/statsigacquired
Modern Treasury: https://bit.ly/acquiredmoderntreasury


New! We're codifying our own Playbook notes and takeaways from each episode and posting them on our website. Check it out: www.acquired.fm/episodes/epic-games


Links:

Carve Outs:

Sources: (available on Journal at https://usejournal.com/app/space/journal:space:project/7efa6d43-a601-4784-8e36-1edda2b1b451 )


Transcript

Click on a timestamp to play from that location

0:00.0

Yeah, I actually have on some Zoom calls been listening to Spotify in the background of my headphones, but it makes the video calls so much better.

0:07.0

That's so you're just like low in the background you get Spotify gone. That's amazing.

0:12.0

It's like nice of you to join me in the club. background you get Spotify going? That's amazing.

0:12.9

It's like nice of you to join me in the club

0:14.9

for our meeting.

0:15.9

That's really smart. Welcome to Season 7 episode 3 of acquired the podcast about great technology

0:36.8

companies and the stories and playbooks behind them. I'm Ben Gilbert. I'm

0:40.8

David Rosenthal and we are your hosts. Now for everyone new to the show and for

0:46.2

everyone who's been with us for a while, it's been a while since we introduced ourselves.

0:49.6

So we wanted to tell you a little bit about who we are.

0:53.0

I am the co-founder of Pioneer Square Labs in Seattle.

0:56.0

We are a startup studio and early stage venture fund.

0:59.0

And my background is primarily in founding companies and product management.

1:03.4

And I have been a long time venture capitalists.

1:06.5

I'm currently an independent angel investor and advisor to startups based in San Francisco.

1:12.2

So I come at things from the venture and investing

1:15.4

side. Most importantly we are excited to be with you today as peers and

1:19.8

practitioners in the industry diving into stories that I think we all talk about at the water cooler when that was a thing

1:25.8

The Zoom cooler the Zoom cooler exactly well today we will explore what happens when an idealist has full control over a product with perfect

1:36.0

global product market fit, unbelievable economics, and has the leverage to shape the world

1:41.6

to his idealistic will, even potentially at the expense of his own business.

1:56.4

Today we talk about Epic Games, makers of Fort Knight and the Unreal Game engine. You probably know of them since Fortnite is an absolute international phenomenon, the most played game in the world, and for parents out there,

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