Aaron Patzer
Aaron Patzer
Aaron Patzer is an internet entrepreneur and the founder of Mint.com, the financial management tool which was acquired by Intuit and has over 10 million users...
NationalityAmerican
ProfessionBusinessman
CountryUnited States of America
avoid business mobile obvious photo sharing
If you think about photo sharing sites, the mobile photo sharing and social, there's no competitive advantage, there's no obvious business model, so I never play with anything like that. I avoid it like the plague.
business consultant days early gotten kevin knew maybe obvious photo time work
Kevin Systrom of Instagram used to work for us as a consultant in the early days of Mint. I knew him a long time ago. Maybe I could have gotten in there. But with photo sharing, I don't know if there's an obvious business model. I don't think there's a competitive, sustainable advantage.
inventor jobs
I have always thought of myself as an inventor first and foremost. An engineer. An entrepreneur. In that order. I never thought of myself as an employee. But my first jobs as an adult were as an employee: at IBM, and then at my first start-up.
ad areas deals invest networks people players simply smart tend
I actually don't invest in anything that is social, mobile, deals or ad networks simply because those are areas where there are so many players and so many other smart people in the space, I feel like I don't have a competitive advantage. So I tend to go after things that are e-commerce, like healthcare.
consider develop electric entire great grid hero invented inventions inventor life light power sell thomas
I consider myself an inventor first and an entrepreneur second. In real life, my hero is Thomas Edison. He was a great inventor, but also an outstanding entrepreneur who was able to sell his inventions to the masses. He didn't just develop the light bulb; he invented the entire electric grid and power distribution system.
computer degree duke electrical goal good knew life needed problem science turns
I always knew I wanted to be a technologist, so I went to Duke and got a degree in computer science and electrical engineering. Really, I thought my goal in life was to be an inventor, a problem solver, so I thought I needed a Ph.D. to be good at inventions, but it turns out that you don't.
business figures interest mint model rate savings student stuff
Mint's business model became, 'We'll go for free, and then we'll find these savings opportunities for you.' You know, better interest rate on your credit cards, when should you consolidate your student loans, when does it mathematically make sense to refinance your mortgage, and Mint figures all that stuff out for you.
real people design
The other big factor in building trust quickly is site design quality. Mint.com has one of the best graphic designers ever (Jason Putorti) - he cares about every pixel, all the fonts, all the transparencies and effects. And that shows instantly. People do make judgments of trust on appearance - in the real world and online.
ideas stealing
Tell anyone and everyone your idea without fear they're going to steal it.
people recessions
Recessions are great because they unlock the best people.
business real people
People do make judgments of trust on appearance - in the real world and online.
mba add engineers
When valuing a startup, add $500k for every engineer, and subtract $250k for every MBA.
business giving-up doubt
It's okay to doubt yourself, it's okay to feel down; just never give up.
real entrepreneur want
Solve a real problem. You don't start a company because you want to be an entrepreneur or the fame and glory that comes along with it. You become an entrepreneur to solve a real problem.