I'm a big fan of the concept in the book and read / listened to it multiple times and consider it my long term game plan. I have to say I absolutely cant remember him saying that you have to lose money until you reach $1M. I always took it simply as breaking even (= taking a modest salary to cover personal living expenses) until you reach scale, in both revenue and employees that operate the company for you, and THEN start to profit.
This was my understanding as well. I don't remember Masterson saying you have to break even to get to the first $1m.
Nor is that the sort of business I want to run. I'm not a fan of enormous runways. I like highly profitable internet businesses. I am willing to take a loss, for a while, but I'm not one of those "start up" guys who runs a multi-million dollar business at a loss for several years then to be bought out and collect my profits. But, I don't think that's what Masterson is necessarily saying.
It would be nice to get some clarification from him, but I don't think we will.
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