Shutterstock's CEO Jon Oringer: Market volatility won't stop me | Summary and Q&A

TL;DR

Entrepreneur discusses his journey in coding, starting his own businesses, and the decision to take his company public.

Key Insights

• 🤕 The entrepreneur started coding at a young age, which sparked his interest in entrepreneurship.
• 👨‍💼 Shutterstock was built out of the entrepreneur's personal need, and it became a successful business from the beginning.
• 🤪 Going public was a strategic decision based on a solid business model, despite concerns about IPO volatility.
• 🥇 The entrepreneur believes that New York is a great place for entrepreneurs, with available talent and resources.
• 🫵 Some people view New York as not ideal for building a tech company, but the entrepreneur believes that resources are available if one looks beyond the surface.
• 👨‍💼 Starting a business doesn't always require an amazing idea; it can be as simple as finding a small detail to solve a problem.
• 👻 Learning to program is an invaluable resource for entrepreneurs, as it allows for quick website development and understanding of the tech industry.

Transcript

Read and summarize the transcript of this video on Glasp Reader (beta).

Questions & Answers

Q: How did the entrepreneur get into coding and start his entrepreneurial journey?

The entrepreneur started coding at the age of five and began his entrepreneurial journey by finding a book and computer to learn from. He started various businesses, including teaching guitar even though he had limited knowledge.

Q: Did the entrepreneur start Shutterstock alone?

Yes, the entrepreneur started Shutterstock on his own, driven by his own need. He began the company with only $3,000 and built it into a successful and profitable business.

Q: Why did the entrepreneur decide to go public despite concerns about IPO volatility?

The entrepreneur believed that volatility in the short term evens out over time. He had conversations with himself and concluded that Shutterstock had a strong and sensible business model to go public.

Q: As the first tech company to go public in New York in two years, what does this mean for the New York tech market?

The entrepreneur believes that New York is a great place for entrepreneurs and running a company. He hopes that other New York entrepreneurs will stay and build their companies there, considering the resources and talent available.

Summary & Key Takeaways

• The entrepreneur started coding at a young age and began his entrepreneurial journey by starting various businesses.

• He founded Shutterstock, which has become a highly successful and profitable business from day one.

• The company recently went public, despite concerns about IPO volatility in the tech industry.