What To Do if You Lose 300 Million Dollars? The Story of Jason Goldberg

Jason Goldberg was great at selling his vision.

In 2011, he left politics to be an entrepreneur and raised $300 million for an e-commerce company called Fab.

Soon, Fab was everywhere on the news as one of the fastest-growing startups, valued at $1B and gained 1 million users in just 5 months.

Next, investors pushed him to go international, but the company wasn’t ready and … everything collapsed.

In 2016, at a TechCrunch event, he mentioned this regarding his failure:

I f*** up on Fab, but every single investor who was involved in the company was aware of what was happening every single step of the way. Not a day goes by where I don’t wish I’d done a million things differently. It’s part of entrepreneurship. Sometimes you succeed, and sometimes you fail. It’s part of the business.

Fab’s story is the end of any entrepreneur, but he managed to build two more startups — Two great companies that he lost due to the 2008 recession and the COVID pandemic.

Turning a new page in 2020, he again raised $3m for a platform to help online fitness instructors. In December 2020, he tweeted:

Entrepreneurship is all about perseverance.

We all need to remind ourselves that falling down can’t stop a real builder and maker. I hope this story inspired you to come back stronger on whatever you were making.

I’m Reza Bird, a filmmaker and writer turned entrepreneur. The coming decades seem threatening and very competitive, but also full of opportunities. Subscribe to my newsletter, where I encourage you to start your own digital business as an artist and leave your safe zone. I’m also building NXT ANIMAL , a media company in Los Angeles for upcoming generation of creators.