Wiring a stranger $20K (no refunds) -- buying a tech company

i just bought a startup the hope is that this little widget that lets you make video calls from any website is going to make us all rich so i found it on microacquire.com the startup marketplace and to me this looked like a really great idea but it has no customers right now long story short i agreed to buy it and now it's a matter of settling all the details and sending over the payment let's back up you're probably wondering when you buy a company how do you do it do you need a team of lawyers and accountants a mergers and acquisitions investment banker or anything else like that well yeah you probably should do it that way or you could just draft up a contract that's actually a word document send 15 000 in a non-refundable wire and pray you actually hear from this person again you can probably guess which one i did here's how it went [Music] so today i wired matteo the 5k deposit to remove the listing from microacquire we're still talking and it looks like the listing's been removed so that's a good sign so we're going to be doing the tech demo later today and i'm going in ready with a set of questions this is going to be one of my few chances to ask away and get his help debugging any problems so long story short here's how the tech demo went it turns out the app is built on this platform called bubble i o which is a no code platform that helps you build apps from scratch and it seems like you can do pretty complicated things from this and there's also over a million people who have registered and i've actually never heard of it anyway the architecture of our app looks a bit like this all roads lead to bubble front end back in and the widget itself and it turns out bubble is this drag and drop editor with all these logic boxes and this visual database which i don't like at all what i see here is all the complexity of a normal app but you have to make every change through this cumbersome interface but maybe if i can find some good developers who know what they're doing they can handle it so that's bubble and then there's the widget itself the user installs on their site which is created by this code file what this code does is create something in html called an iframe and the iframe creates basically a portal to our bubble app and that's definitely the wrong color for a portal that we can show as a part of whatever page that we want by the end of the demo i didn't see any problems my questions more or less got answered but at the same time i didn't really know what i was looking at on the screen we agreed on the contract to a specific number of future meetings in case i got stuck and needed debugging and then i promptly sent over the contract to ink and finalize the deal in case you're curious the contract was just a bulleted list of everything we agreed on and it included one thing called the non-compete meaning basically he couldn't just resell this app again tomorrow to someone else but once he signed we were locked in which meant it was time to send that 15 000 more than i'd ever wired in a single payment to someone i just met the other day after seeing the bubble platform i seriously considered for a second just canceling and then building a similar app from scratch with some code i actually know how to write and look maybe that would have been the right decision but i'm a man of my word if we don't have our word we have nothing the deal was done as soon as i sent the payment he promptly transferred over the app now i had it in my own bubble dashboard i opened it up and looked at it and that's when the syncing feeling started to set in because now it's time to actually do the work to actually do the work now you probably see me starting and scaling these companies so you're thinking damn erin how are you that productive i'm really not though i'm really not but i'm trying a few things actually one thing i started trying this week and you might have noticed the different computer is having a separate work computer and then keeping all entertainment just on an ipad which is actually harder to use which is a good thing and i started using the aura ring sleep tracker to try to improve my sleep because spoiler alert my sleep scores are very bad right now i've heard the sauna actually helps a lot with sleep quality but in ukraine we have banya which looks a bit more like this when compared to finland the country with the most saunas coincidentally happiest country in the world getting naked aside the point of all this is we have a lot to do okay we have a lot to figure out we have a lot of people to hire in fact we need a small army of freelancers to get this done and i say freelancers because we're going to be bootstrapping this we're not just going to hire full-time employees up front and that means we need to get a river of cash flowing before we can actually afford that for now i've mapped out everything we need to do not on a one-dimensional to-do list or a two-dimensional project board but a three-dimensional dependency process graph what now project managers because we want as many things as possible running in parallel at one time for example the logo the design the app itself fixing bugs in the app and by the way i am terrified of being able to find enough bubble developers because let me tell you something so far it's not looking good it is not looking good you

Channel: Aaron Jack

Views: 5,145

Rating: 4.90625 out of 5

Keywords: programming, web development, javascript, react, learn programming, learn to code, coding, software development, become a software developer, software developer, freelancing, freelance developer, coding tutorials

Id: 0xLLRGdn4dA

Length: 5min 13sec (313 seconds)

Published: Mon Oct 04 2021