Dwolla’s Ben Milne on the Worst Startup Advice He Received [VIDEO]

March 11, 2015

5:00 pm

At this year’s SXSW Interactive, Revolution is presenting a session called How I Built It: A Conversation with Ben Milne, a discussion with the founder and CEO of Dwolla. The event is created on behalf of the Rise of the Rest Road Trip, a joint initiative between UP Global, Revolution, and Google for Entrepreneurs. Make sure to come by Monday, March 16 at 12:30 AM; the event will be held in Salon D at the Hilton Austin Downtown.

Ben Milne is the founder and CEO of Dwolla, the online payment platform that easily allows you to transform money between friends and merchants. Founded in 2008, the company was essentially an early leader in the world of seamless, online payments. Indeed, back in 2010, the company released online payments that leveraged a user’s social networks – the first to really utilize social payments. Nowadays, such social payments have become an essential part of our everyday lives, with tools like Venmo now a standard app on our phones. In an interview with Credit Suisse last year, Milne shared some of the best and worst startup advice he’d ever received.

According to Milne, the worst startup advice he’d ever received was that “you don’t need anybody else.” In reality, he says that this kind of advice simply doesn’t and can’t hold up in the real world; rather, we all end up attempting to surround ourselves with the people we trust. From a practical business standpoint, doing so allows us to find the best and worst ideas for the business; making decisions based on the idea or the opinion of your yourself can sometimes result in producing the wrong outcome.

In the video above, Milne also goes briefly into how competitors have helped to shape his business, as well talking about the point at which he realized that Dwolla could and would become a potential success. At the 2012 SXSWi, he joined us at our SXSW #StartupLife Celebration where he shared with us his journey from dropping out of college to developing Dwolla to what it is today.

At this year’s SXSW Interactive, listen in on How I Built It: A Conversation with Ben Milne which is presented by Revolution on behalf of Steve Case’s Rise of the Rest Road Trip. Milne will sit down with Tom Foster, the Editor-at-Large of Inc Magazine, to talk about how he turned Dwolla into the successful company it is today. The event will take place Monday, March 16 between 12:30 PM and 1:30 PM at Salon D in the Hilton Austin Downtown. And if you’ve got some extra time while you’re at SXSWi, check out some of the other events Rise of the Rest has organized, below:

“Pardon the Disruption: Steve Case on Entrepreneurs” March 14 11:00-12:00 Austin Convention Center

“Reinventing America: Betting Big On the Heartland” March 15 3:30-4:30 Hilton Austin Downtown

“Steve Case & Rise of the Rest Pitch Competition” March 15 5:00-6:00 Hilton Austin Downtown

“Tech Talk: Building a Startup Ecosystem” March 16 9:30-10:30 Hilton Austin Downtown

“Diversity in Tech” March 16 11:00-12:00 Hilton Austin Downtown

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Ronald Barba was the previous managing editor of Tech.Co. His primary story interests include industry trends, consumer-facing apps/products, the startup lifestyle, business ethics, diversity in tech, and what-is-this-bullsh*t things.

Aside from writing about startups and entrepreneurship, Ronald is interested in ‘Doctor Who’, Murakami, ‘The Mindy Project’, and fried chicken. He is currently based in New York because he mistakenly studied philosophy in college and is now a “writer”. Tweet @RonaldPBarba.

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