![]() ![]() ![]() MTAs have provided a mechanism for the acquisition community to rapidly prototype or field capabilities within five years. Applying flexible contracting authorities.Implementing lessons learned from DOD's support to Ukraine.Using Middle Tier Acquisitions (MTAs) and transitioning to production.The summit provided attendees the opportunity to network and "share perspectives on a daunting list of important and evolving problems," DAU President Jim Woolsey said.įour panel discussions aligned with the National Defense Strategy shaped the day: The PEO Summit, facilitated by the Office of the Under Secretary of Defense for Acquisition and Sustainment and DAU, was held at DAU's Fort Belvoir campus. "As we leverage the full range of authorities and tools Congress has given us in recent years, it's critical that we're sharing best practices and implementing lessons learned from broad, service-agnostic challenges." And what’s the point of having money if you can’t live anywhere?īandholz: Where can listeners follow you?Ĭampbell: I’m on Twitter, or visit ."The 2022 National Defense Strategy is a call to action for the acquisition community," said William LaPlante, Undersecretary of Defense for Acquisition and Sustainment. You have to own your primary residence in Puerto Rico. Puerto Rico wasn’t on the list until someone told me about the tax advantages. My wife and I started looking at a bunch of places. I enjoy having a wall to punch through, go around, or climb over.īandholz: You bought a residence in Puerto Rico.Ĭampbell: Paddle’s a remote company, so we could live anywhere. This wasn’t the thing that I wanted to do with my life. I then started considering what my wife and I wanted. I even bought 19 gas stations as an investment. I thought, “I can do anything, so let’s do everything.” I hired 17 employees. That’s years of my prior mortgage.” I started talking to wealth managers and insurance agents. That’s about it.Īfter the deal closed, the first interest payment came into my savings account. I had a paid-off house and $19,000 in cash. Suddenly, I want to be more knowledgeable about wealth management. Now it’s many millions.Ĭampbell: That’s the second part of the journey. I’ve had to adjust how I interface with certain folks.īandholz: Last year you had $20,000 in the bank. There were very few congratulations or offers to catch up. Six people hit me up for funds on the day of the announcement. There are downsides for sure.įor instance, folks hit me up for money. I never considered the advantages and disadvantages of publicizing it because my persona has been public in building ProfitWell. Am I going to be “rich” correctly? There are many weird emotions.īandholz: You went public with how much you made.Ĭampbell: The idea was this is a big win for a bootstrap company. I never feared death before, but now I do because there’s this pile of money in my savings account. You wonder if it was a fluke and if you could do it again. Former employees and ex-girlfriends reach out. When you sell a company for $200 million, everyone treats you like a god. We had self-funded the business - entirely bootstrapped. We were needing to raise money to continue our growth. My average salary over the 10 years was $74,000. We were doing over $10 million in recurring revenue. When we sold, I had just under $20,000 in my bank account. We had about 45,000 brands signed up at the time. I sold that business to Paddle, a billing and payment company, in early 2022 for roughly $200 million. We have a couple of products that help with retention and with pricing and monetization. We help subscription businesses understand their metrics with a free tool plugged into payment platforms such as Stripe, Recharge, and Braintree. ![]() Patrick Campbell: I founded a company in 2012 called ProfitWell. ![]()
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