Imagine for a moment that we are back in the early 2000 ’ randomness – 2005 to be specific. You are in San Francisco and own fledgling design agency. You saw first hand the highs achieved by those at the crest of the dotcom bubble and what happened to them once it burst .
The design agency you started only a few years early has begun to attract some amaze clients. Celebrities, technology companies like Google and industry giants like NASA. sol, what would you say if a newfangled, unproved start-up came to you and offered equity in reappearance for designing their brand and logo ?
This is the question posed to the Cuban Council when Mark Zuckerberg and Sean Parker met with them in 2005 .
Although Facebook had a promise start and seasoned entrepreneur in former Napster founder, Sean Parker, there was nothing to say the positive signs were to be trusted. There have been enough of examples where choice entrepreneur started newly services that looked predict but ultimately failed and net investors zero or negative revert .
An example of this was the Kevin Rose founded Oink. Rose had founded the enormously successful web site Digg and went on to a litany of high profile wins. With this background, Oink saw it ’ s app usage afflictive to over 150,000 users .
Despite this rapid rise, it even ended up shutting its doors less than 6 months after it ’ south launch .
$100 Million to Design a Logo?
Hindsight is 20/20 but at the time it was not even remotely clear that what they were being offered would turn out to be worth roughly $ 100 million dollars… to design a logo .
This is not hyperbole.
At the identical lapp time as the Cuban Council were pondering this extend David Choe, a San Franciscan artist, had taken equity to create a now celebrated mural at the Facebook offices. His fairness, post IPO, was valued at approximately $ 200 million dollars .
We ’ five hundred all like to think that we are grok enough to take the equity, do the shape and laugh all the way to the bank. I mean it ’ s just a logo. How much work could it be ? You ’ d have it done in no time. right ?
Taking equity in space of money is a reasonably good way to ensure your occupation doesn ’ metric ton last very long. When do you stop working for equity ? It surely doesn ’ t pay the bills or your employees. If we follow the success of even the best venture capitalists you ’ ra looking at a identical first gear success rates. sol unless you are very golden you might have to make equity deals with dozens of companies before one returns any respect .
In this episode of True North, we tell the narrative of the Cuban Council and the decision they faced when offered equity to design the Facebook logo. We ’ re taken back to the happenings of 2005 by Cuban Council co-founder and current Google design manager, Mike Buzzard .
We besides hear from Peter Markatos, the Head of Brand at Uber, the valet who said dangle the “ the ” from The Facebook.
What is the True North Podcast?
dependable North is available on iTunes or at truenorthpodcast.com where you can find previous episodes on topics such as the UX of implants, designing to reduce anxiety in sick children, or what is faulty with design education. We besides have capital interviews with UX leads from Google, SAP, Mailchimp, Saleforce and more. We ’ ll be second with Episode 3 in a couple of weeks. Thanks for listening .
Shouldn ’ t developers understand the design fundamentals excessively ? Gabrielle Gosha teaches them in her course – Principles of Design for Developers .
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