How Spirit Halloween Makes $600M in 2 Months, The Journey of a CEO & Is a Recession Coming?

Founder's Journal

Morning Brew

Entrepreneurship, Careers, Business

4.8 • 1.1K Ratings

🗓️ 18 October 2022

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Episode 2: Today, hosts Alex Lieberman (@businessbarista), Sophia Amoruso (@sophiaamoruso), and Jesse Pujji (@jspujji) kick off with a discussion of Jamie Dimon’s recent economic predictions and how a possible recession will impact startup founders. Then, we jump into the aspects of Spirit Halloween’s business model that have helped it become wildly successful, the team’s own experience of going from founder to CEO, and finally, for Startup AMA we answer a listener question about how to pay yourself as a founder. 00:27 - Jamie Dimon’s prediction about the markets 06:06 - Intro 06:41 - The Rundown 09:58 - Discussion of Spirit Halloween’s wildly successful business model 14:02 - Businesses that have capitalized on under-used inventory/resources 18:28 - How Spirit Halloween uses licensing to their advantage 20:15 - The team discusses their own experiences of going from founder to CEO as their businesses grew 20:53 - Jesse’s experience as CEO over the course of his career 23:48 - Sophia’s experience as a CEO over the course of her career 28:33 - Alex’s experience as CEO 32:40 - Startup AMA - How should you pay yourself as a founder? 33:08 - Sophia’s bank statement in 2010, 3 years into starting Nasty Gal Links: Jamie Dimon says the economy is on the verge of a recession Morning Brew Shakes Up Leadership Structure The Role of the CEO: Managing Yourself Trung Phan newsletter What’s The Most Difficult CEO Skill? Managing Your Own Psychology Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This week, there were two kind of big economic numbers,
0:04.8	slash announcements that came out.
0:06.4	The first was inflation.
0:09.2	Inflation print was 8.2% for listeners,
0:12.9	you know, a general rule of thumb is the Fed.
0:16.0	Largely tries to keep a 2% inflation number,
0:18.9	so obviously that's too high,
0:20.2	which gives people a sense of confidence
0:23.3	that the Fed is going to continue to raise rates.
0:25.4	In addition,
0:27.1	Jamie Diamond, who's the CEO of JP Morgan,
0:30.1	you know, largely considered to be one of kind of the best operators
0:34.1	in financial markets or the bulge bracket banks,
0:37.5	said that he thinks we could see a recession the next six to nine months,
0:41.7	that he thinks markets could pull back another 20 to 30%.
0:44.9	If it's a bad recession,
0:46.9	this recession narrative obviously is going to kind of
0:49.7	be a consistent through line in the pod as it should be.
0:53.7	But maybe people don't think it should be,
0:57.4	and Jesse, I'm looking at you because I feel like you think
1:00.4	the recession narrative is overblown.
1:04.0	Yeah, well, I think from an entrepreneur's perspective,
	...

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