Business Breakdowns: The rise and fall of “Blackberry” with Lon Harris | E1773

This Week in Startups is presented by: Vanta. Compliance and security shouldn't be a deal-breaker for startups to win new business. Vanta makes it easy for companies to get a SOC 2 report fast. TWiST listeners can get $1,000 off for a limited time at vanta.com/twist Embroker. The Embroker Startup Insurance Program helps startups secure the most important types of insurance at a lower cost and with less hassle. Save up to 20% off of traditional insurance today at Embroker.com/twist. While you’re there, get an extra 10% off using offer code TWIST. House of Macadamias is the next big health trend! Get 20% off your first purchase and a free box of Namibian Sea Salted Macadamia Nuts at houseofmacadamias.com/twist by using code twist20! * Today’s show: Lon joins Jason to extract the business lessons from the film Blackberry (2:19). The two discuss the company’s rise and fall, the benefits of having multiple co-founders (9:11), the psychology of framing (23:05), knowing when to "fake it 'til you make it" (56:19) and much more! * Time stamps: (0:00) Cold open! “What got us here won’t get us there.” (2:19) Jason and Lon intro Business Breakdowns - a new series! (5:51) Blackberry cast breakdown (9:11) Lessons: Importance of having multiple, complementary co-founders and market pull (13:25) Vanta - Get $1000 off your SOC 2 at https://vanta.com/twist (14:32) Lessons: “Burn the boats,” importance of diligence, product velocity (21:51) Embroker - Use code TWIST to get an extra 10% off insurance at https://Embroker.com/twist (23:05) Lesson: Framing the product or pitch (26:11) Lesson: Importance of riding and recognizing paradigm shifts (31:04) Lessons: Marketing as a status symbol, real-world virality, being of action, “bend don’t break” (36:50) Lesson: What got you here won’t get you there (40:53) House of Macadamias - Get 20% off and a free box of Namibian Sea Salted Macadamia Nuts at https://houseofmacadamias.com/twist by using code TWIST20 (42:12) Lessons: Blackberry’s downfall, importance of focus, product association (53:13) Lesson: Knowing when to cash in your chips (56:19) Lesson: Know when to “fake it ‘til you make it” (59:51) Business Breakdown Awards, presented by Jason and Lon * Read LAUNCH Fund 4 Deal Memo: https://www.launch.co/four Apply for Funding: https://www.launch.co/apply Buy ANGEL: https://www.angelthebook.com Great recent interviews: Steve Huffman, Brian Chesky, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland, PrayingForExits, Jenny Lefcourt Check out Jason’s suite of newsletters: https://substack.com/@calacanis * Follow Jason: Twitter: https://twitter.com/jason Instagram: https://www.instagram.com/jason LinkedIn: https://www.linkedin.com/in/jasoncalacanis * Follow TWiST: Substack: https://twistartups.substack.com Twitter: https://twitter.com/TWiStartups YouTube: https://www.youtube.com/thisweekin * Subscribe to the Founder University Podcast: https://www.founder.university/podcast