Studio Apartment Operations

A story about how Jeremy and Andrew shared a cramped studio apartment as an office space in the early days of their businesses.

"I knew Andrew because when he was starting MetaLab and I was working on another startup, we shared the same studio apartment. Our office was in a studio apartment - he was in the bedroom area and we were in the kitchen.

We would keep a blow-up mattress in case the fire inspector came around. We would just say 'Oh you know, Andrew lives here, but I just have a lot of friends over working on stuff.'

That was back when MetaLab was starting to generate a fair amount of free cash flow, I think in the low millions a year. The idea was to use that free cash flow to buy businesses, since agencies don't require much reinvestment. If you're not going to put it in the S&P because that's too boring, you've got to figure out something else to do with it. That's what we did."