Wingstop: Antonio Swad. A Brilliant Idea — And a Nail-Biting Exit
A lot of founders spend their lives chasing one big idea.
Antonio Swad had two.
The first? Migrating chicken wings from the Happy Hour buffet to the center of the plate.
The second? Building a pizza business that catered to a very specific demographic: Latinos.
That first idea became Wingstop, a deep-fried wing concept that grew to 3,000 stores.
The second became Pizza Patron, a franchise that rewarded customers for ordering in Spanish, and let them pay in pesos.
This is the story of how Antonio got there.
He was a kid from Columbus, Ohio, working at a steakhouse straight out of high school…who eventually saw two big opportunities where no one else did.
Wingstop was the breakout idea, but just as it was exploding, Antonio made a surprising decision. He sold the company.
A $22 million deal.
Only…the money did not materialize.
What follows is one of the most surprising—and cautionary—tales we’ve told on this show: a single word buried in a contract that cost millions…and the moment Antonio realized he might never see the money he’d been promised.
This episode is about instinct, risk, conviction—and why sometimes…your biggest success can lead to your biggest mistake.
What you’ll learn:Why simplicity can beat variety in building scalable restaurantsThe power—and peril—of franchising as a growth engineHow identifying an underserved customer segment can unlock explosive growthWhy your hero product isn’t always what you think it is (hint: it’s not the chicken)How one word in a contract can cost millions
Timestamps:00:09:11 – Fired from bartending for being “too intense”00:14:26 – Starting a pizza shop in Dallas with $11,00000:18:41 – Discovering an underserved customer base, and the power of word-of-mouth00:23:07 – Why franchising can be the ultimate scaling strategy00:24:09 – How Antonio realized wings could be a massive business00:36:37 – A bend in the road: Why the first Wingstop struggled00:50:29 – A bizarre vision at a football game: What if this sta
Advice Line with Angie & Dan Bastian of Angie's BOOMCHICKAPOP
Today’s callers: Michelle from California assesses the trade offs of accepting outside investment to scale her organic granola brand. Then, Gloria from Connecticut wonders how to overcome stigma and get more people talking about her pelvic floor therapy device. And Eric from Australia evaluates new markets for his maple-based sports nutrition products.
Plus, Dan and Angie’s take on why even the busiest entrepreneur should find time to turn off their phone at the dinner table...
Thank you to the founders of Nana Joes Granola, Elidah, and mapleROO for being a part of our show.
If you’d like to be featured on a future Advice Line episode—where Guy and former show guests take questions from early-stage founders—leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298.
And be sure to listen to BOOMCHICKAPOP’S founding story as told by Angie and Dan on the show in 2019.
This episode was produced by Noor Gill with music by Ramtin Arablouei. It was edited by John Isabella. Our audio engineer was Cena Loffredo.
You can follow HIBT on X & Instagram and sign up for Guy's free newsletter at guyraz.com and on Substack.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
diapers.com: Marc Lore. The ecommerce visionary who lost to Amazon but still made billions (2021)
Back in the early days of ecommerce, Marc Lore took a classic retail loss leader–diapers– and turned it into a DTC giant– Diapers.com. It did so well that it attracted the attention of Amazon, which slashed prices on its own diapers until Marc was forced to sell them his business.
It was not a happy moment, but it was a galvanizing one: Marc went on to launch another ecommerce company, jet.com. Within a year, it was bought by Walmart in a deal valued at $3.3 billion.
This is a story about a devastating corporate surrender, a multi-million dollar comeback, and a founder with a relentless ability to re-invent himself.
Timestamps:
10:04 – Marc’s “boost-your-grades” bet with his college coach
14:21 – A job on Wall Street and a Master Plan: 8 figures by age 48
16:28 – How a lunchtime lark turned into a spot on the U.S. Bobsled Team
27:44 – How random Google searches led Marc to diapers
35:29 – Guerilla tactic: Buying all of P&G’s diapers to get their attention
40:07 – The simple packaging hack that boosted sales
45:53 – Building a retail empire (and getting on Amazon’s radar)
47:52 – Amazon’s scorched earth strategy forces Marc to sell
1:00:11 – Raising $750M to take on Jeff Bezos
1:03:02 – A brand new business and a $3.3 billion exit: Walmart’s record-breaking deal
This episode was produced by Casey Herman with music composed by Ramtin Arablouei. It was edited by Neva Grant.
Follow How I Built This:
Instagram → @howibuiltthis
X → @HowIBuiltThis
Facebook → How I Built This
Follow Guy Raz:
Instagram → @guy.raz
Youtube → guy_raz
X → @guyraz
Substack → guyraz.substack.com
Website → guyraz.com
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Advice Line with Marcia Kilgore of Beauty Pie (June 2025)
Serial entrepreneur Marcia Kilgore — founder of brands like Beauty Pie and Soap & Glory — joins Guy on the Advice Line, where they answer questions from three early-stage founders managing uncertainty and risk.
Today, we meet Victor in Fort Worth, the co-founder of a Mexican-style sweets and treats venture who wonders if he should focus on expanding brick-and-mortar operations, retail presence, or both. Then Lydia in Seattle, a former disease researcher who is ready to grow her small batch botanical skincare line, but needs help overcoming her fear of failure to get to the next step. And Jack in San Francisco, the founder of a custom bike bag and accessories brand who’s trying to figure out how to maintain customer excitement throughout the entire purchasing process so as not to lose momentum.
Thank you to the founders of Sol Dias, Clērstory, and Wompy Bikes for being part of our show. And stick around to hear a brief update on all three callers!
If you’d like to be featured on a future Advice Line episode, leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298.
And be sure to listen to Marcia Kilgore’s original How I Built This episode as told by Marcia on the show in 2018.
This episode was produced by Carla Esteves with music by Ramtin Arablouei. It was edited by Andrea Bruce. Our audio engineer was Cena Loffredo.
You can follow HIBT on X & Instagram and sign up for Guy's free newsletter at guyraz.com.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Vital Farms: Matt O’Hayer. How a serial entrepreneur re-branded the egg
For decades, a dozen eggs was just… a dozen eggs.
No story. No real branding. No reason to care who produced them.
Then Matt O’Hayer came along and asked a question almost nobody in America was asking: what if store-bought eggs could be different? What if they tasted better, looked better, and came from hens raised in a much more humane way?
The business he launched– with 20 hens and some used trailers– is now the number-one pasture-raised egg producer in the US, with a network of 600 farms, and a projected revenue of nearly $1B this year.
When he started Vital Farms, Matt was in his 50s, living in an RV on the farm, and trying to convince people to pay premium prices for eggs.
Before that, his passion for business drove him to pursue an astonishing range of ideas: carpet-cleaning, a barter-exchange franchise, a stint as a charter-boat captain and broker. One of his businesses left him nearly broke after 9-11, and there were many other hard lessons along the way.
This is a story about metabolizing failure into success, and turning one of the most overlooked shelves in the grocery store… into a billion dollar opportunity.
What you’ll learn: The hard lessons Matt learned from 3 (+) decades of founding businessesHow 9/11 changed his lifeWhat 4 years as a boat captain taught him about leading–and servingHow “conscious capitalism” became the blueprint for Vital FarmsWhy pasture-raised eggs were a branding opportunity hiding in plain sightHow Whole Foods became an early and critical partnerWhy great products grow faster when customers do your work for you
Timestamps: 07:48 – “I didn’t have 300 dollars.” Matt starts a carpet-cleaning company with no real plan11:31 – The barter business that taught Matt how to scale complex ideas17:58 – Building a travel company, taking it public, and growing it to roughly $50 million in sales22:57 – The morning of 9/11: Matt watches his business collapse in real time25:59 – Starting over, Matt becomes a charter boat captain
Advice Line: What’s Your Value?
In today’s special episode, Guy and four former show guests talk with callers about how they can prove the value of their products—and themselves.
First, Meagan from Vermont questions whether an experiential pop-up concept for her reusable gift wrap and bags is worth the effort. Then, Amanda from Wisconsin seeks new ways to explain her deck of dog enrichment activities to potential customers. And finally, Mark from New York looks for a complement to help grow his artisanal pesto business.
Thank you to the founders of Shiki Wrap, Woofsie, and In Mark’s Kitchen for coming on the show. Also thanks to WeWork co-founder Miguel McKelvey, Paperless Post co-founder Alexa Hirschfeld, and Chomps co-founders Pete Maldonado and Rashid Ali.
If you’d like to be featured on a future Advice Line episode—where Guy and former show guests take questions from early-stage founders—leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298.
This episode was produced by Alex Cheng with music by Ramtin Arablouei. It was edited by John Isabella. Our audio engineer was Robert Rodriguez.
You can follow HIBT on X & Instagram and sign up for Guy’s free newsletter at guyraz.com or on Substack.
To hear our returning guests’ previous episodes:
Miguel's original episode: https://wondery.com/shows/how-i-built-this/episode/10386-wework-miguel-mckelvey/
Miguel's HIBT Lab episode: https://wondery.com/shows/how-i-built-this/episode/10386-hibt-lab-wework-miguel-mckelvey/
Miguel's Advice Line episode: https://wondery.com/shows/how-i-built-this/episode/10386-advice-line-with-miguel-mckelvey-of-wework/
Alexa's original episode: https://wondery.com/shows/how-i-built-this/episode/10386-paperless-post-james-and-alexa-hirschfeld/
Alexa's Advice Line episode: https://wondery.com/shows/how-i-built-this/episode/10386-advice-line-with-alexa-hirschfeld-of-paperless-post/
Pete and Rashid
Scrub Daddy: Aaron Krause. How a Failed Experiment Became a Billion-Dollar Sponge
Aaron Krause did not set out to reinvent the kitchen sponge. He was a car detailer, building buffing pads and the machines that made them. To clean his greasy hands, he made a makeshift hand scrubber out of extra-rough foam, and it worked so well he decided to sell it.
But nobody wanted it.
He shelved the product for years. Then one day while cleaning up around the house, he accidentally discovered the foam’s “magic” properties and realized it would make the perfect kitchen sponge. Scrub Daddy was born.
As a friend advised him, nobody goes to the supermarket to discover new innovations in sponges. So Aaron did a furious round of in-store demos and eventually wound up on QVC (where he nearly got kicked off) and finally Shark Tank, where he made $1M the night it aired.
In this episode, Aaron breaks down the unglamorous mechanics of building a consumer brand—negotiation, patents, and the obsession needed to keep going when no one believes in your vision.
You’ll learn:How Aaron’s many patents helped drive his car-detailing business The hidden downside of “great” deals: exclusivity traps and corporate bureaucracyHow Aaron forced 3M to rethink value during acquisition negotiations How to sell a product no one is shopping for How Scrub Daddy built a brand block (Scrub Mommy & more) to become a category leaderHow to defend against copycats—patents, trade dress and aggressive enforcement
Timestamps:07:24 — “You get to buy your own sneakers”—the childhood lesson that shapes Aaron’s hustle09:03 — The brutal factory internship that sends him back to washing cars17:50 — The mirror snaps off a Mercedes… leading to a buffing pad breakthrough19:58 — The parable of the DIY patent: “If you had a toothache, would you drill your own tooth?”27:36 — Dirty factory hands inspire Aaron to invent a special hand scrubber… which no one wants41:35 — Aaron hangs up on a corporate powerhouse: refusing to sell to 3M based on EBITDA51:16 — The shelved scrubbers come out of sto
Advice Line with Hernan Lopez of Wondery
Today’s callers: Heather from Ontario talks through a DTC strategy for her retail pain relief tape and patches. Then Nawal in Michigan considers a rebrand for her uniforms designed for Muslim students. Finally, Casey in Idaho seeks new revenue streams for her farmer and worker-owned seed cooperative.
Plus, Hernan’s take on the future of podcasting and the sweet relief of vindication...
Thank you to the founders of Heali Medical, Studyous Monday, and Snake River Seed Cooperative for joining us on the show.
If you’d like to be featured on a future Advice Line episode—where Guy and former show guests take questions from early-stage founders—leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298.
And be sure to listen to Wondery’s founding story as told by Hernan on the show in 2023.
This episode was produced by Katherine Sypher with music by Ramtin Arablouei. It was edited by John Isabella. Our audio engineer was Kwesi Lee.
You can follow HIBT on X & Instagram and sign up for Guy's free newsletter at guyraz.com and on Substack.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Bobo’s: Beryl Stafford. A Single Mom Turns a Baking Project into a $100M Business
Bobo’s: Beryl Stafford. A Single Mom Turns a Baking Project into a $100M Business
At 40, Beryl Stafford’s life cracked open. Her marriage ended, she hadn’t worked in years, and she had two daughters to raise. She needed income—fast.
So she did the only thing that felt real: she baked.
What started as 4-ingredient oat bars— hastily placed in a Boulder coffee shop—became Bobo’s, a national brand built in the Silicon Valley of natural foods.
In this episode, Beryl walks us through the scrappy early days: buying ingredients at full retail, a risky $25K packaging machine, the Whole Foods breakthrough, the burnout, and the pressure shift that comes with outside capital—and Costco.
It’s a story powered by community support, relentless demos, and a founder who kept saying “yes” before she knew how.
What you’ll learn: Why “survival” can be a powerful founder advantageHow to sell your product before you feel ready (and why that’s often the point)The unglamorous truth of early CPG: shelf life, shared kitchens, endless demosIn a trend-driven category, the value of sticking to a recipe “your grandmother could have made.” The two faces of Costco: growth rocket and operational trap
Timestamps:08:35—Divorced at 40… “I was trying to survive.” 12:02—The baking project with her daughter… and the unexpected product-market signal17:21—The first sale: snack bars in cellophane; making up a price28:38—Sharing a kitchen with Justin’s Nut Butters: scrappy collaboration + conflict31:49—The first-time founder playbook: sell first, learn the rest later33:54—Whole Foods says yes… before she knows what “freezer safe packaging” even means39:10—Getting into national distribution: “What just happened?” 46:34—Burnout, hiring a CEO, raising outside money—and what changes when investors arrive54:31—The Costco conundrum: huge upside, real downside —------------------
This episode was produced by Noor Gill, with music by Ramtin Arablouei.
Edited by Neva Grant, with research help from Alex
Advice Line with Miguel McKelvey of WeWork
Today’s callers: Jane in Minnesota wants to scale her artful pants brand while staying true to her locally-made mission. Then Melissa in New Mexico wonders how to respond to diminishing returns on digital advertising for her grief care packages. And Lee in Massachusetts hopes to decrease customer acquisition costs for his history merch brand ahead of America’s 250th anniversary.
Plus, Miguel reflects on his WeWork experience and the similarities he sees in today’s AI-dominated tech industry. Miguel’s latest venture, Unbound, seeks to disrupt healthcare in the United Kingdom.
Thank you to the founders of Copa Threads, Good Grief, and The History List Store for being a part of our show.
If you’d like to be featured on a future Advice Line episode, leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298.
And be sure to listen to WeWork’s founding story as told by Miguel in 2017, as well as his second appearance on the show in 2022.
This episode was produced by Sam Paulson with music by Ramtin Arablouei. It was edited by John Isabella. Our audio engineer was Kwesi Lee.
You can follow HIBT on X & Instagram and sign up for Guy’s free newsletter at guyraz.com or on Substack.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Kettle Chips: Cameron Healy. The Wild Bet That Made a Brand
Kettle Chips: Cameron Healy. The Wild Bet That Made a Brand
Most founders expand the “right” way: local → regional → national → international.
Cameron Healy totally skipped the “national” part.
When Kettle Chips was still an upstart regional brand, Cameron made a move that seems almost reckless: he launched his thick-cut, kettle-cooked chips to the United Kingdom — one of the most competitive “crisps” markets on earth — before conquering the U.S.
And that wasn’t his first risky move.
Before Kettle, Cameron was a turban-wearing Sikh entrepreneur in 1970s Salem, Oregon, building a natural foods business…until he was abruptly fired. He started again from scratch with a $10,000 bank loan. Inspired by the extra thick, crunchy potato chips that he sampled on a trip to Hawaii, he taught himself how to fry sliced potatoes through trial-and-error.
Then, just as Kettle started taking off overseas, another trip to Hawaii sparked a second act: Kona Brewing — a craft beer brand that initially lost $20K a month — for years — before Cameron was able to make it work.
Meanwhile, buoyed by its UK success, Kettle chips eventually spread across the US, becoming the top-selling natural chip in the country.
What you’ll learnThe hidden details (like cooking-oil quality control) that can make or break a chipHow curiosity about British “crisp” culture fueled a risky UK rolloutThe decision that turned Kona Brewing from a money pit into a scalable brand
Timestamps07:21 — “You had to get up at 3 a.m.”: building a life in a Sikh community in Salem10:11 — Fired with four kids and no severance: the moment Cameron is forced to rebuild12:04 — The $10K loan (helped along by the offer of ski passes)14:06 — The 1980 peanut crop gamble that suddenly capitalized Cameron’s business23:14 — “Pot Chips” was the original name…until friends told him how bad it was24:48 — Hand-feeding potatoes into vats of oil: inventing a process with zero playbook29:10 — The Safeway disaster: rancid oil, a re
Advice Line with Alexa Hirschfeld of Paperless Post
Today’s callers: Jess from Washington seeks counsel on structuring a collaboration between her sympathy cards company and a pet products brand. Then, Caroline from Colorado wonders if she should build an in-house production team or outsource manufacturing for her decorative garland company. And Sayuri from California is looking to drive sales of her Japanese tatami mats through a unique approach to yoga practice.
Plus, Alexa shares how Paperless Post is responding to advancements in AI and the prevalence of post-pandemic loneliness.
Thank you to the founders of Five Dot Post, The Creative Garland Company, and Sumo Yoga for being a part of our show.
If you’d like to be featured on a future Advice Line episode—where Guy and former show guests take questions from early-stage founders—leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298.
And be sure to listen to Paperless Post as told by Alexa and her brother James on the show in 2024.
This episode was produced by Rommel Wood with music by Ramtin Arablouei. It was edited by John Isabella. Our audio engineers were Debbie Daughtry and Cena Loffredo.
You can follow HIBT on X & Instagram and sign up for Guy's free newsletter at guyraz.com and on Substack.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Square: Jim McKelvey. He Lost a $2,000 Sale, Then Built a $10 Billion Company
Most entrepreneurs think the hardest part of building a company is the product.
For Jim McKelvey — co-founder of Square — the hardest part was the system around the product.
Because Square wasn’t just competing with other startups …
It was competing with regulations, middlemen, entrenched networks, and monopolies designed to keep outsiders out.
In this episode, Jim shares the mindset and tactics that helped Square go from a tiny card reader that processed credit card payments … to a company—now known as Block— that generates over $10 billion in gross profit.
What You’ll Learn:Why the market is often “locked” on purposeHow a simple hack can solve a seemingly complex problemHow candor can sway investors more than confidenceHow Square survived by building something Amazon couldn’t copyTimestamps:00:12:26 – Engineering and art: Balancing an IBM job with glassblowing00:15:46 – The family trauma that rewired Jim00:36:26 – Losing a $2,000 sale — the moment Square was born00:43:06 – Breaking into the credit card club: “We were violating 17 rules”00:48:31 – The headphone jack hack that sidestepped Apple’s control00:58:03 – The “140 reasons we might fail” pitch that won over investors01:06:26 – The taxi ride that convinced Jim he had product-market fit01:09:28 – Amazon attacks, and why copying doesn’t always work01:13:18 – The founder’s job after success: choosing hard problems***
Hey—want to be a guest on HIBT?
If you’re building a business, why not get advice from some of the greatest entrepreneurs on Earth?
Every Thursday on the HIBT Advice Line, a previous HIBT guest helps new entrepreneurs work through the challenges they’re facing right now. Advice that’s smart, actionable, and absolutely free.
Just call 1-800-433-1298, leave a message, and you may soon get guidance from someone who started where you did, and went on to build something massive.
So—give us a call. We can’t wait to hear what you’re working on.
***
This episode was produced by Alex Cheng with m
Advice Line with Pete Maldonado and Rashid Ali of Chomps
Today’s callers: Yadi from New York thinks through an expansion strategy for her college campus-based empanada business. Then, Zachary from New York looks for ways to break into big retailers with his fresh-made frozen pies. And Josh from Indiana wonders how to go all-in on his small mouth bass lifestyle brand without overhauling his family’s lifestyle.
Plus, Pete and Rashid reflect on the ‘protein-ification’ of our food, and how a scare last year reaffirmed the importance of doing right by the customer — no matter the cost.
Thank you to the founders of Yadi’s Artisanal Empanadas, Noble Pies, and Achigan for being a part of our show.
If you’d like to be featured on a future Advice Line episode—where Guy and former show guests take questions from early-stage founders—leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298.
And be sure to listen to Chomps founding story as told by Pete and Rashid on the show in 2023.
This episode was produced by Kerry Thompson with music by Ramtin Arablouei. It was edited by John Isabella. Our audio engineer was Jimmy Keeley.
You can follow HIBT on X & Instagram and sign up for Guy's free newsletter at guyraz.com and on Substack.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Spinbrush: John Osher. The Electric Toothbrush That Sold for $475M
Before Spinbrush became the top selling toothbrush in the U.S—and before Procter & Gamble paid $475M for it—John Osher was a teenager selling earrings for $4.99.
In this episode, John walks through the strange, scrappy, but disciplined path that led to one of the fastest consumer-product breakouts ever: from a six-year stint in a commune (where he learned plumbing and carpentry), to selling baby products and battery-powered spinning lollipops. Finally, the big bet: a $5 electric toothbrush that was cheap enough to compete with manual brushes, and good enough to become a best-seller.
You’ll hear the make-or-break moment that many founders can’t survive: the decision to scrap 400,000 defective brushes before they hit the shelves. And then, the stealth move that turned a “licensing pitch” into a buyout —with one perfectly timed bluff.
What you’ll learn:Why pricing is about what the market will pay, not what your product costsThe hidden power of packaging (How “Try Me” changed everything)How to recover from “entrepreneurial terror” Why scrapping inventory can be the most important decision you’ll ever makeThe acquisition formula: you get a lot more money when they want to buy… than when you want to sell
Timestamps:
07:01 - A pricing lesson that John used forever: The 19-cent earrings that sold for $4.99.
12:04 - Six years in a commune and the unexpected skill stack: plumbing and construction.
22:09 - “Entrepreneurial terror” and a lifeline from Toys R Us
29:11 - Spinning lollipops lead to a $166 million Hasbro exit.
35:54 - What’s the real competition: $80 electric toothbrushes, or cheap manual ones?
38:42 - The design breakthrough: fixed + oscillating bristles.
55:43 - P&G admits: “We’ve bought three companies like yours… and ruined them all.”
58:07 - The earnout problem: What happens when Spinbrush performs much better than expected?
Hey—want to be a guest on HIBT?
If you’re building a business, why not get advice from some of the greatest entre
Advice Line with Julia Hartz of Eventbrite
Today’s callers: Mia from Germany wants to know how to balance her pottery business between an online shop and a YouTube channel. Then, Jen from Connecticut is looking for ways to reach more families with her print magazine for tweens and teens. And Anagha from California wonders how to convince people to embrace the time required for her globally-inspired baking kits.
Plus, Julia reflects on Eventbrite’s recent acquisition announcement, and how in-person events can help brands and creators build community in today’s digital world.
Thank you to the founders of Pottery to the People, Anyway Magazine, and Aunty Misri for being a part of our show.
If you’d like to be featured on a future Advice Line episode—where Guy and former show guests take questions from early-stage founders—leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298.
And be sure to listen to Eventbrite’s founding story as told by Julia on the show in 2020.
This episode was produced by Chris Maccini with music by Ramtin Arablouei. It was edited by John Isabella. Our audio engineer was Cena Loffredo.
You can follow HIBT on X & Instagram and sign up for Guy's free newsletter at guyraz.com and on Substack.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Netflix: Reed Hastings. “We’re Not a Family.” The Provocative Idea That Helped Build a Streaming Giant
Netflix shouldn’t have survived.
In 1997, Blockbuster owned home entertainment—9,000 stores, a business fueled by late fees, and a brand that felt untouchable. Netflix was a scrappy DVD-by-mail experiment that almost sold itself off to stay alive.
So how did Netflix win?
In this conversation, Reed Hastings breaks down the behind-the-scenes decisions that helped the business thrive: the uncomfortable leadership choices, the culture blueprint that surprised corporate America, and a near-catastrophic misstep that could have blown the whole thing up.
Reed also talks about what shaped him long before Netflix: being a late-bloomer, teaching in the Peace Corps, learning humility from a former boss, and the painful management mistakes he made while building his first company.
This is a masterclass in: challenging the status quo, choosing a culture on purpose, and making big bets without pretending you’re always right.
What you’ll learn: Why Netflix’s early “obvious” advantages weren’t enough—and how close it came to dyingThe leadership lesson Reed learned from a CEO who was admirable… but strategically wrongWhy Reed says the best companies are like championship sports teams: if you can’t perform at peak, leaveThe “keeper test” and how it changed corporate cultureThe Qwikster fiasco: what went wrong, and how Netflix moved to prevent future misstepsBuilding a House of Cards: How Netflix made the leap to original contentReed on the media landscape: The remote-control moment of truth, rival streamers, and the rise of AI
Timestamps:00:08:06 — “I was a late bloomer.” Reed on why no one saw greatness coming00:09:30 — Peace Corps in Swaziland, and the moment he nearly quit00:11:23 — An unforgettable lesson learned from the CEO who washed Reed’s coffee cups00:14:39 — Building his first company in a cold cabin—no internet, just obsession and proof of concept00:16:48 — Reed’s early struggles as a manager: “Too busy chopping wood to sharpen the axe.”00:24:11 — Blockbuster’s
Advice Line with Jon Stein of Betterment
Plus, Jon’s take on why now is a good time to start a business — in spite of market uncertainty.
Today’s callers: Dan from Washington considers new offerings beyond his core loose leaf yerba mate product. Then, Mike from New Hampshire wants to expand his woodworking business beyond his basement, without taking on debt. And Maggie from Georgia wonders how to respond to rising customer acquisition costs for her soccer-themed dog brand.
Thank you to the founders of Heretic Yerba, MTS Woodworking, and Floofball for being a part of our show.
If you’d like to be featured on a future Advice Line episode, leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298.
And be sure to listen to Betterment’s founding story as told by Jon on the show in 2018.
This episode was produced by Noor Gill with music by Ramtin Arablouei. It was edited by John Isabella. Our audio engineer was Kwesi Lee.
You can follow HIBT on X & Instagram and sign up for Guy's free newsletter at guyraz.com and on Substack.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
HOKA: Jean-Luc Diard and Nicolas Mermoud. The “Clown Shoe” That Became a $2B Bonanza
In the late 2000s, two French mountain athletes set out to build a running shoe that captured the feeling of flying.
Jean-Luc Diard and Nicolas “Nico” Mermoud had spent decades inside the innovation engine at Salomon—where product was obsession. In 2007, as Nico recovered from a brutal ultramarathon around Mont Blanc, the founders fixed on a problem that Big Footwear didn’t care about: downhill running was destroying bodies. Their solution: make the shoe bigger, softer, and shaped like a rocker.
At first, their prototypes looked like clown shoes. Runners who preferred minimalist footwear laughed at them. Retailers said no. But the founders kept doing the one thing that they knew could reverse things: they made people try them.
HOKA went from under $3M in sales in 2012 to more than $2B a year—and in this episode, you’ll hear how it happened: the risky design, the early cash crunch, and the strategic partnership that helped them win the U.S. market.
What you’ll learn:How to think of a shoe as a machine, not just a piece of apparelThe go-to-market weapon that worked: relentless demo-ing Why outside money can’t always solve a cash flow bottleneck (and what does)How HOKA used performance proof to avoid being dismissed as a gimmickWhy HOKA partnered with Deckers—and why it wasn’t just about capitalHow to keep a “rebel” mindset as competitors start copying you
Timestamps:
(Timecodes are approximate and may shift depending on platform.)[07:12] George Salomon’s leadership lesson: the CEO who sought advice from an intern[11:11] Nico’s first day at Salomon: testing ski prototypes on a glacier[18:42] The ultramarathon race where Nico’s legs crumbled (and why)[21:29] A breakthrough insight: performance changes with surface (leaves, lava, snow)[31:25] Designing a sneaker as if it were a car: engine, tires, seat[40:00] The “clown shoe” prototype—and the first successful run [47:22] Elite runners kickstart the brand [49:02] The hard part nobody glamorizes: factory minimums,
Advice Line with Serial Entrepreneur Mark Cuban
Plus, Mark on his most challenging venture yet: revolutionizing the prescription drug market in America.
First we meet Lucy from Washington DC, considering an opportunity to bring her upside-down peanut butter brand into a big box retailer. Then Macy from Utah, wondering if her youth-safe skincare products are better marketed to kids or their parents. Then Dan from North Carolina, looking to reboot his pre-pandemic business selling hand-crafted wooden razors. And finally Kristen from Michigan, questioning if she should expand her children’s winter wear brand with gear for other seasons.
Thank you to the founders of One Trick Pony, Girlyish Skincare, Imperium Shaving, and Northern Classics for being a part of our show.
If you’d like to be featured on a future Advice Line episode, leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298.
And be sure to listen to Mark Cuban’s original episode on the show from back in 2016.
This episode was produced by Casey Herman with music by Ramtin Arablouei. It was edited by John Isabella. Our audio engineers were Robert Rodriguez and Jimmy Keeley.
You can follow HIBT on X & Instagram and sign up for Guy’s free newsletter at guyraz.com or on Substack.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Taylor Guitars: Kurt Listug and Bob Taylor. From $3,700 Shop to Global Icon
A bright blue guitar covered in orange koi fish vanished from a museum display … and Swifties immediately knew what it meant.
That distinctive guitar—the one Taylor Swift used to record Speak Now—had been a gift. Hand crafted, by the founders of Taylor Guitars. When she brought it back on stage during her Eras tour, the fans went wild.
In this episode, Bob Taylor and Kurt Listug tell the unlikely story behind one of the world’s most respected acoustic guitar brands—how it grew from a tiny San Diego repair shop doing $30,000/year into a global business with nine-figure revenue. And how it survived every challenge that should’ve ended it: a distributor deal that didn’t add up, a brutal market crash in the disco era, and such slow growth that—five years into the business—the founders could barely pay themselves a salary ($15/week).
It’s a story about serendipity, obsession, and the quiet power of a partnership where each person knows their lane—Bob with relentless craftsmanship, Kurt with the discipline to turn it into a massive business.
Plus: the purple 12-string featured in Prince’s “Raspberry Beret” … the MTV Unplugged boom that boosted the business … and why the founders eventually chose to convert the business to 100% employee ownership.
What you’ll learn:The operating principle that changed Taylor’s production: one finished guitar beats 10 half-finished onesHow to make a slow-growth business survivable (and why Bob saw it as “education”)How to recognize a bad distribution dealThe design innovations that drew musicians to Taylor guitarsWhy Bob got a call from Taylor Swift’s dad when she was 14—and the iconic guitar her fans grew to loveHow the business managed demand shocks during COVIDWhy an ESOP can be a founder’s best “succession plan” decisionWhat a great partnership looks like in practice
Timestamps:
(Timecodes are approximate and may shift depending on platform.)00:06:39 – The high school moment: “I didn’t have $175 … so I thought, I’ll just make
Advice Line with Monica Nassif of Mrs. Meyers
Plus, how candor has been a more effective press strategy than talking points for (the literal) Mrs. Meyers.
First we meet Allison in California, seeking marketing ideas for her novel wig designs which aren’t done justice by photos alone. Next, Nick in Idaho wonders whether retail expansion or content development is best to grow his children’s toy and book franchise. And finally, Ben in Virginia considers options like acquiring a nearby company to grow his chandelier cleaning business.
Thank you to the founders of Encelia Hair, Randimals and Chandelier Cleaning VA, for being a part of our show.
If you’d like to be featured on a future Advice Line episode — where Guy and former show guests take questions from early-stage founders — leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298.
And be sure to listen to the founding story of Mrs. Meyers Clean Day as told by Monica on the show in 2025.
This episode was produced by Kerry Thompson with music by Ramtin Arablouei. It was edited by Andrea Bruce and John Isabella. Our audio engineer was Cena Loffredo.
You can follow HIBT on X & Instagram and sign up for Guy's free newsletter at guyraz.com or on Substack.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Gymboree: Joan Barnes. How Building a Beloved Brand Nearly Destroyed Its Founder
Before Gymboree became a cultural icon in the 80s and 90s, it was just one lonely new mom trying to find connection. Joan Barnes started hosting weekly playgroups for parents… and demand exploded. What began as a diversion became a business. Then a franchise. Then a brand everyone seemed to know, with its padded playrooms and parachute games.
From the outside, it looked like a runaway success: hundreds of locations, glowing press coverage, celebrity buzz. But inside, the franchise model was failing. A potential Hasbro rescue vanished overnight. And Joan—while smiling for the world—was breaking under the pressure.
Then came a major pivot that helped turn Gymboree around. The company was going to survive, but Joan realized she might not. She stepped away for good, to fight for her health.
In this episode, Joan talks frankly about building Gymboree, losing control of it, and learning some vital lessons about ambition, balance, and humility.
What You’ll LearnThe hidden math of franchising: when scale makes you weaker, not strongerHow—years before social media—Joan used the media as her marketing engine The moment Gymboree nearly died—and the brilliant pivot that saved itWhat it feels like to be celebrated publicly while privately falling apartWhy “more hustle” can be a trap
Timestamps:
(Timecodes are approximate and may shift depending on platform.)[08:20] “Lonely and isolated”—The new-mom need that sparked Joan’s first playgroup[13:43] The early days: parachute games, circle songs, and connecting with other parents[16:59] The first, $3,000 investment, and expanding to new venues.[23:08] Learning the hard way: “I didn’t even know what franchise meant.” [38:40] Joan discovers her business model has a terrifying Catch-22[45:05] A humiliating gut punch: Hasbro calls off a life-saving deal [50:15] The pivot to profitability: play centers + clothing stores[1:03:00] Success on the outside, collapse on the inside: panic, addiction, treatment [1:14:17] Af
Advice Line with Neil Blumenthal of Warby Parker
Warby Parker co-founder Neil Blumenthal joins Guy on the Advice Line, where they answer questions from three early-stage entrepreneurs. Plus, how AI integrations with glasses are helping us see the world in a whole new way.
First we meet Kimber in Utah, who wants to take her chewable toothpaste gummies mainstream. Then Brian in California, who’s wondering how to vet franchisees for his light therapy studios. And Tanner in Tennessee, who needs help building a team he can trust to scale his country club-inspired lifestyle brand.
Thank you to the founders of Pearl Pop, Salt and Light Wellness, and Cowboy Country Club for being a part of our show.
If you’d like to be featured on a future Advice Line episode, leave us a one-minute message that tells us about your business and a specific question you’d like answered. Send a voice memo to hibt@id.wondery.com or call 1-800-433-1298.
And be sure to listen to Warby Parker’s founding story as told by Neil and his co-founder Dave on the show in 2016.
This episode was produced by Sam Paulson with music by Ramtin Arablouei. It was edited by John Isabella. Our audio engineer was Cena Loffredo.
You can follow HIBT on X & Instagram and sign up for Guy’s free newsletter at guyraz.com or on Substack.
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
La Colombe Coffee Roasters: Todd Carmichael and J.P. Iberti. A Brotherhood Built on Coffee (2020)
When Todd Carmichael and J.P. Iberti met at a grunge concert in Seattle in the 1980s, they were an unlikely pair. But they shared a love for great coffee, and the two friends began to dream about opening a cafe and premium roastery that would produce coffee at a higher quality than anything in the U.S. at the time. A few years later, Todd and J.P. co-founded La Colombe in Philadelphia, and went on to play a leading role in the third wave of specialty coffee in the U.S. Today, their coffee drinks are sold in stores across the country, and in 2023, La Colombe was acquired by Chobani for $900M.
TIMESTAMPS: 0:11:22 - Learning barista basics: like being a DJ 0:25:25 - Todd squats at JP’s place, they set out to sell coffee0:29:48 - How La Colombe gets its name0:32:40 - Launching the business in a city they've never visited0:35:49 - The first roastery: no ventilation, visits from the fire department0:40:29 - Pitching the coffee–uninvited–at a top French restaurant 0:46:48 - The trick to making a perfect espresso0:53:30 - Todd takes a sabbatical: “I was suffering from my brain.” 0:57:40 - Expanding to more cafes and a shift from roasting to hosting1:01:17 - An impasse with investors, and a bailout from Chobani’s founder 1:09:38 - Small Business Spotlight
Hey—want to be a guest on HIBT?
If you’re building a business, why not get advice from some of the greatest entrepreneurs on Earth ?
Every Thursday on the HIBT Advice Line, A previous HIBT guest helps new entrepreneurs work through the challenges they’re facing right now. Advice that’s smart, actionable, and absolutely free.
Just call 1-800-433-1298, leave a message, and you may soon get guidance from someone who started where you did, and went on to build something massive.
So—give us a call. We can’t wait to hear what you’re working on.
—------------------------------------------
This episode was produced by Casey Herman with music by Ramtin Arablouei. It was edited by Sarah Sarasohn. Our audio engineer
