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The Times Tech Podcast

The Bebo Billions

The Times Tech Podcast

Will Morley

Technology, Business Analysis, Silicon Valley, Interviews, Tech, News, Artificial Intelligence, Ai, Business, Business News

4.8676 Ratings

🗓️ 24 September 2024

⏱️ 22 minutes

🧾️ Download transcript

Summary


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Transcript

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0:00.0

My first job out of uni was for a company called sparks.com, a startup boasting of being the

0:05.2

world's largest online paper greeting card store. The average sale size was one card, which is

0:12.0

worth a couple bucks. Once you found a card, we'd then ship it out to you, so postage alone

0:17.5

eliminated any profit. But back then, I didn't know any better.

0:23.1

Like so many other 20-somethings, I was entranced by this thing called the Internet,

0:28.1

which appeared to be minting overnight billionaires and changing just about how everything worked.

0:33.8

I showed up to work in cargo shorts.

0:36.3

Yes, cargo shorts.

0:38.9

My desk was a painted door set on a pair of sawhorses. I played a lot of table football.

0:45.1

It was great. Until, I was laid off, along with about a third of the company.

0:52.3

As the stock market imploded, Sparks.com's venture capital backers

0:56.0

turned off the money spigot. And his chance would have it. It was around then that Michael and

1:00.5

Sochi, living across the bay from my dingy two-bedroom apartment, were working on a website

1:05.6

that may very well have hastened the demise of my first employer and put me out of a job.

1:11.6

It was called Birthday Alarm, an astoundingly simple idea.

1:15.6

It was a birthday reminder service.

1:17.6

Turns out it was wildly profitable.

1:24.6

Perched on one of those impossibly steep only in San Francisco Hills is a stretch of a few

1:30.3

blocks of lavish, spectacular homes. It's called rather unimaginatively Billionaires Row.

1:37.7

Birch Castle, an imposing five-story stonewall estate, the color of milk chocolate, definitely belongs.

1:45.8

It is the home of Michael and Sochi Birch. A few months ago, I showed up at their door to talk to the Birches about the early

1:51.8

days of social networking. And what will definitely go down is one of the most extraordinary

...

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