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In this episode, we sit down with Matt Wright, a nine-figure entrepreneur who scaled his online car-buying company in Australia to nearly $500 million in annual revenue and exited to Toyota for $120 million at just 33 years old.
Matt gets brutally honest about dropping out at 15, moving to Australia broke at 20, turning $40K in crypto into $3โ4 million, and why receiving $120 million felt completely empty.
He also opens up about the chronic depression that followed, not seeing his daughter for three and a half years due to COVID, and his new founder fund backing three founders worldwide with $1M each.
๐ฌ WHAT WE COVER:
โข Dropping out at 15 in the UK and moving to Australia at 20 with $4โ5K saved โข Becoming the #1 sales rep out of 70 people at a Telstra call center โข Running someone else's car-buying business for five years and getting nothing at the exit โข Turning $40K into $3โ4M in crypto while locked out of the account for six years โข Making $391K in 11 days on the SpaceX IPO โข Borrowing $200K from his father and starting at 27 with an exit in mind from day one โข Becoming the largest online car-buyer in Australia within 60 days of launch โข Scaling to 450 cars a week, $500K/month in ads, and 15,000 leads a month โข Revenue year by year: $182M, $253M, and $356M with 220 full-time staff โข Rejecting three Australian offers of $50โ65M to find an overseas buyer โข Having two final offers on the table, with one $30M higher, and signing at 3 a.m. on Christmas Eve โข Getting $120M wired all at once and feeling absolutely nothing โข Chronic depression for five to six weeks after the exit โข Not seeing his daughter, Elsie, for three and a half years due to COVID border closures โข The four non-negotiables: obsession, money motivation, endurance, and focus โข His A-player hiring secret: Watch how fast they walk down the corridor โข Why passion follows competence, not the other way around โข The founder fund: $1M each into one founder in the UK, US, and Australia
FOLLOW US:
๐ฒ Omar's IG: https://www.instagram.com/omar_therockstar/ ๐ฒ The Passionate Few's IG: https://www.instagram.com/passion/ ๐ฒ Matt's IG: https://www.instagram.com/realmattwright/
TIMESTAMPS:
00:00 โ Intro & The $120M Exit Story 00:40 โ What It's Like Getting a $120M Wire at 33 01:39 โ Growing Up in the UK & Dropping Out at 15 04:01 โ Moving to Australia at 20 With $4โ5K Saved 05:49 โ Becoming the #1 Sales Rep Out of 70 People at Telstra 07:29 โ Running Someone Else's Business for Five Years With Nothing at the Exit 08:42 โ The Anger That Lit the Fire to Start His Own Company 11:08 โ Borrowing $200K From His Father to Start at 27 11:50 โ Turning $40K Into $3โ4M in Crypto 13:26 โ Making $391K in 11 Days on the SpaceX IPO 15:28 โ Starting the Business at 27 With an Exit in Mind From Day One 19:03 โ Becoming the Largest Online Car-Buyer in Australia Within 60 Days 19:54 โ Scaling to 450 Cars a Week & $500K/Month in Ad Spend 23:42 โ Revenue Year by Year: $182M, $253M & $356M 27:01 โ Flying to Portugal and Telling His Father, "I Can't Do This Anymore" 28:37 โ The 18-Month Sale Process and Three Australian Offers of $50โ65M 35:11 โ Two Final Offers, One $30M Higher, and Choosing Toyota's Clean Exit 39:24 โ Signing at 3 a.m. on Christmas Eve 40:07 โ Getting $120M Wired All at Once and Feeling Nothing 42:37 โ Chronic Depression After the Exit 44:08 โ Not Seeing His Daughter for Three and a Half Years Due to COVID 46:37 โ The Four Non-Negotiables for Every Founder 52:06 โ The New Founder Fund: $1M Each Into Three Founders Worldwide 54:31 โ What He'd Do Differently: Hire Better People Earlier 57:44 โ Passion Follows Competence, Not the Other Way Around 01:00:06 โ The A-Player Hiring Secret: Watch How Fast They Walk 01:03:46 โ The Founder Fund: Who He's Looking For & How to Apply 01:07:35 โ Advice for People Who Feel Stuck: Call Your Shot Publicly 01:09:16 โ First Things First: Rapid-Fire Round 01:11:11 โ The Best Moment of His Life: Closing the Deal With His Father 01:17:37 โ Final Words: Stop Dreaming, Start Doing