Ambition Today, Startup Stories with Kevin Siskar - Michael Loeb's New Approach To Launching Billion Dollar Companies

Michael Loeb's New Approach To Launching Billion Dollar Companies

03/11/19 • 54 min

Ambition Today, Startup Stories with Kevin Siskar

Joining us today is Founder and CEO of Loeb Enterprises, Michael Loeb. Loeb Enterprises is an early stage venture investing company and an incubator for startups. Prior to Loeb Enterprises, Michael co-founded Synapse in 1992 with Jay Walker. Synapse then became the largest seller of consumer magazine subscriptions worldwide and now is a subsidiary of Time Warner. Along with Jay Walker, Michael assisted with the creation and early stage funding of Priceline.

Although Michael was born in St. Louis, MO, he has been in New York since the age of one years old. He was your typical entrepreneur from early on, mowing lawns, having a lemonade stand, etc. However, it was not until he was fired from Time, Inc until he realized his entrepreneurial potential. Tune in to learn more of his story:

Michael growing up
Working at Time, Inc
Why being fired can sometimes be important
Creating Synapse
Co-founded Priceline
Selling his company for $800 million
Creating Loeb Enterprises
Helping founders
Pros and Cons of being in NY as a founder

Ambition Today Question of the DayTM : I have heard you say that you wish you had bet on yourself earlier in your life. How old were you when you quit Time Inc and how can people bet on themselves earlier in life?

The Single Greatest Piece of Advice: Members of the "A-list" can listen to exclusive A-list bonus clips here! If you are not a member yet be sure to join the Ambition Today A-list!

Quote Of The Episode: “It is hard to be an entrepreneur in your 30’s, if you didn’t have a big win in your 20’s.”

Links from this episode:

Visit Ambition Today on the Web: www.siskar.co/ambitiontoday Follow Kevin Siskar on Twitter: twitter.com/TheSiskar Follow Kevin Siskar on Instagram: instagram.com/thesiskar Follow Kevin Siskar on Facebook: facebook.com/kevin.siskar Add Kevin Siskar on Snapchat: snapchat.com/add/krsiskar

Kevin Siskar brings you ambitious entrepreneurs inspired by Tim Ferriss Show, How I Built This with Guy Raz, Residual Income, Entrepreneur on Fire, NPR, HBR, TED Radio Hour, the StartUp podcast with Alex Blumberg by Gimlet Media, Pat Flynn, Tony Robbins, The Uncertain Hour, Bigger Pockets, Art of Charm, Dave Ramsey, Planet Money, Jocko Podcast, EntreLeadership, Zigler, APM Marketplace, This Week In Startups with Jason Calacanis, Mixergy, Seth Godin, Joe Rogan Experience, GaryVee, James Altucher, Monocle 24, How to Start a Startup, Crooked Media, and The $100 MBA Show with Omar Zenhom, and Casey Neistat.

Be sure to listen and subscribe to Ambition Today in the iTunes Store for iOS (apple.co/1NRRPzL), on Google Play Music (goo.gl/LmmciJ), or on Stitcher for Android (bit.ly/1Rn01dy).

Michael growing up
Working at Time, Inc
Why being fired can sometimes be important
Creating Synapse
Co-founded Priceline
Selling his company for $800 million
Creating Loeb Enterprises
Helping founders
Pros and Cons of being in NY as a founder

The Single Greatest Piece of Advice: Members of the "A-list" can listen to exclusive A-list bonus clips here! If you are not a member yet be sure to join the Ambition Today A-list!

Quote Of The Episode: “It is hard to be an entrepreneur in your 30’s, if you didn’t have a big win in your 20’s.”

Links from this episode:

Be sure to listen and subscribe to Ambition Today in the iTunes Store for iOS (apple.co/1NRRPzL), on Google Play Music (goo.gl/LmmciJ), or on Stitcher for Android (bit.ly/1Rn01dy).

Previous Episode

Brian McCullough How The Internet Happened & What Is Happening Today

Approaching two decades later, our guest, Brian McCullough’s company is still going strong. Brian is CEO of ResumeWriters.com which is the longest lasting company for this service, shout out to Brian. Not only is he a successful entrepreneur, he is also the Author of “How The Internet Happened.” In 2016, he became a Ted Talk Resident, and is also known for his podcasts: Internet History Podcast and Techmeme Ride Home, which is a News Aggregator that now gives you a daily dose of tech news.

Brian grew up in Florida with no entrepreneurial background as his parents were both hard working teachers. Brian went to college to get a degree in Film, which he did, however, it was when he had to write his thesis to graduate, that he ended up becoming an entrepreneur instead. Tune in to hear more about Brian’s story:

Life background
Interviewing people for his book
Internet History Podcast
Techmeme Ride Home
History of the internet

Ambition Today Question of the DayTM : With regard to the venture capital industry whose job is to depict that future, what advice would you have for them based on the history of the internet?

The Single Greatest Piece of Advice: Members of the "A-list" can listen to exclusive A-list bonus clips here! If you are not a member yet be sure to join the Ambition Today A-list!

Quote Of The Episode: “We live in the world where entrepreneurs are rock stars”

Links from this episode:

========== Visit Ambition Today on the Web: www.siskar.co/ambitiontoday Follow Kevin Siskar on Twitter: twitter.com/TheSiskar Follow Kevin Siskar on Instagram: instagram.com/thesiskar Follow Kevin Siskar on Facebook: facebook.com/kevin.siskar Add Kevin Siskar on Snapchat: snapchat.com/add/krsiskar Follow Colors of Colleen: www.colorsofcolleen.com

Be sure to listen and subscribe to Ambition Today in the iTunes Store for iOS (apple.co/1NRRPzL), on Google Play Music (goo.gl/LmmciJ), or on Stitcher for Android (bit.ly/1Rn01dy).

Next Episode

Australia's Benjamin Chong Helps Startups Excel With Right Click Capital

Today, my guest is a fellow Founder Institute Director, Benjamin Chong. Benjamin has been the director of Founder Institute in Australia since 2011 and is also well known as a partner at Right Click Capital. Right Click Capital is a venture capital firm that invests in early-stage startups. He is an active technology startup community member that has served as a mentor and guest speaker at many different entrepreneurial programs in Sydney, South East Asia, and the United States.

Benjamin Chong grew up in Australia and says his life-changing entrepreneurial moment was when he was in a program called Young Achievement in High School where a few select students from multiple schools got together and created a business, they had to sell stock, and make it profitable, which was a success. He graduated from the University of South Wales and has been unstoppable. Listen in to learn more about Benjamin’s successes...

Early years in Australia
Young Achievement program in High School
Working at PWC
Co-founding iMega
Directing Founder Institute since 2011
Is startup life different in Australia
How important mental health is

Ambition Today Question of the DayTM : What was it like to make the switch from Founder to Investor?

The Single Greatest Piece of Advice: Members of the "A-list" can listen to exclusive A-list bonus clips here! If you are not a member yet be sure to join the Ambition Today A-list!

Quote Of The Episode: “Relationship in businesses are critical, it takes time to build relationships...”

Links from this episode:

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Be sure to listen and subscribe to Ambition Today in the iTunes Store for iOS (apple.co/1NRRPzL), on Google Play Music (goo.gl/LmmciJ), or on Stitcher for Android (bit.ly/1Rn01dy).