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In 2019 I left @insta360 before the IPO. Gave up my shares to go and do my own thing.
5 years later they listed at $9.9B.
Since then I've started 4 businesses. None of them worked. It's embarrassing how many times I've failed at this.
My mum still asks me every time I see her. "Are ye a millionaire yet?"
She only asks because I keep telling her I will be.
This is the 5th attempt.
Recursive Self-Improvement
A retired NASA engineer who had worked on the Space Shuttle program for 25 years was hired by SpaceX at age 62. He described the first week as the most disorienting experience of his professional life.
At NASA, a design change required 3 meetings, 2 committees, a review board, and 6 to 18 months of documentation. At SpaceX, his new supervisor said "if it works, build it. If it doesn't, change it by Friday."
He sat at his desk after the first day and called his wife. He told her he felt like a man who had been swimming with ankle weights for 25 years and someone just cut them off. He could move. He could decide. He could build something in the morning and test it in the afternoon. The constraint that he had accepted as the nature of aerospace engineering turned out to be the nature of bureaucracy.
Within 6 months he had contributed to more design iterations than he had completed in his last 5 years at NASA. Not because he was working harder. Because the time between having an idea and testing the idea collapsed from months to hours. The same brain. The same knowledge. A different operating system.
He described a specific moment where he proposed a modification to a Raptor engine component. At NASA, the proposal would have entered a queue. At SpaceX, the modification was machined by the end of the day and tested by the following morning. He watched his idea become a physical object in 18 hours. At NASA, 18 hours would not have been enough to schedule the first meeting to discuss whether to schedule a meeting.
He told an interviewer: "I didn't get smarter when I went to SpaceX. I got faster. The intelligence was always there. The system was in the way."
The difference between SpaceX and NASA is not talent. NASA has extraordinary talent. The difference is the time between a thought and a test. SpaceX compresses it. NASA elongates it. The same engineer produces 10x more at SpaceX than at NASA because the bottleneck was never the engineer. It was the meetings about the meetings about the work.
Malcolm Russell retweeted
SpaceX's Starship rocket has successfully reached orbit and deployed its V3 Starlink satellites into orbit for the first time, officially making this Starship's first revenue-generating flight, a major milestone for the company!
Congrats @SpaceX team! Incredible achievement 🚀
Malcolm Russell retweeted
Day 31 of posting every day until I make my $40m back.
Yesterday, I posted a video explaining why I believe Vlad scammed me out of thousands of dollars.
The video was performing well. Then it was removed following a copyright complaint from him that I believe was false.
Since then, I’ve been threatened with a defamation claim. One of his team members also threatened to report me to the embassy with a completely false allegation that I’m selling drugs.
It looks like an attempt to scare me into silence.
It won’t work.
Other people have now contacted me claiming they’ve had similar experiences with him. I’m investigating everything, but I won’t publish anything until I can verify it properly.
I’ll keep documenting what happened, preserving the evidence and pursuing it through the proper channels.
Please share this so more people know what’s happening.
Do not threaten or harass anyone. Just help me keep the facts public.
Malcolm Russell retweeted
Day 30 of posting every day until I make my $40m back.
I got scammed by vladdyis on Instagram.
Please share, like and comment so this video gets as much exposure as possible so he can never scams another person ever again.
In 2019 I walked away from a $9.9B IPO.
Leaving was always the plan. I just never knew when.
There's never a good month to go.
People underestimate the compounding that happens when you grow your network. It's slow at the start and exponential later. The mistake is burning bridges you'll need to cross the river further down the line.
Be kind, have integrity, don't be an asshole.
People are demotivated and unhappy. We need to incentivise work. Not scare people away from it. Lower tax rates, raise the tax-free allowance. Give them something to be happy about.
It's very simple.
At the end of a momentous week, here’s a final video, of @realartlaffer explaining the Laffer Curve, as we walked from a meeting in Parliament to a podcast recording at the QEII Centre. It was an honour and privilege to host Dr Laffer in London this week.
I walked away from a $9.9B IPO to start my own business. That was 7 years ago.
4 of those businesses failed. I'm working on number 5 now.
Writing here about what went wrong, what I've learned, and what I'm building. itsmalcolmrussell.substack.c…
Last week I posted about failing 4 times in business.
I nearly didn't. I've never talked about failing before, not even to my family.
Since then I've had DMs from founders, people going through the same thing, and a lot of people just telling me to keep going.
If you're struggling with something, talk about it.
"I know of no better life purpose than to perish in attempting the great and impossible. The fact that something seems impossible shouldn't be a reason to not pursue it. That's exactly what makes it worth pursuing. Where would the courage and greatness be if success was certain and there was no risk. The only true failure is shrinking away from life's challenges."
Adapted from Nietzsche
Read the first comment:
Everyone treats stress like a warning sign. Something to fix, or a reason to stop.
My mum asked me on holiday if I was okay. She wasn't asking about the business, she was asking about me.
I am okay. Not because it's easy. Because I chose this, and I'd choose it again with the same odds.
The struggle isn't the problem. Doing something safe I don't care about would be.
Malcolm Russell retweeted
Day 5 of rebuilding after losing $40m.
The best thing I did after losing everything was start again immediately.
I wanted to take a year off. A friend came to my house, sat on my sofa and told me that was a terrible idea.
“Start something new today.”
So I did.
The next business hasn’t worked out yet, but starting it gave me something to focus on. I was too busy building, raising money and paying the bills to sit around feeling sorry for myself.
People also keep asking why I’ve set such a ridiculous goal.
Because I’ve made $40m once. I believe I can do it again.
If you’re going through something difficult, don’t wait until you feel ready. Start the next thing.
Share this with someone who needs to hear it.
The bit people underestimate is how much context you lose by going deep on one thing.
we know what we’re building
Build it and they will come is a myth 🚀
A company @sdmurray built made $40m before it had a product to sell.
What it had was a community waiting for the launch. You can build an amazing product and still have no company around it.
#buildinpublic











