Keep pulling the thread on Blake Mycoskie.
Blake Mycoskie grew TOMS Shoes into a business with peak annual sales of approximately $700 million.
TOMS Shoes was founded on a 'one-for-one' business model, where for every pair of shoes sold, a pair was given away to a child in need.
After Blake Mycoskie sold TOMS Shoes, the new ownership discontinued the original 'one-for-one' giving model.
After selling TOMS Shoes, founder Blake Mycoskie experienced a seven-year period of intense depression, which he attributes to a loss of purpose and community.
Blake Mycoskie believes that having zero experience in an industry is a significant asset for an entrepreneur because it allows for innovation without being constrained by pre-established rules.
For a period of three years, TOMS Shoes was the fastest-growing shoe company in the world.
Blake Mycoskie has launched a new brand called Enough, which donates 100% of its profits from bracelet sales to mental health organizations.
At TOMS Shoes, every employee, even when the company grew to 300 people, was funded to go on an annual trip to a developing country to participate in shoe giveaways.
In response to criticism, TOMS Shoes began manufacturing shoes in countries like Ethiopia and Haiti where it also distributed them, which created local jobs and reduced shipping costs.
Blake Mycoskie believes that while expanding TOMS' product line beyond its single iconic shoe initially helped sales, it ultimately hurt the business by diluting focus on the core product.
Blake Mycoskie predicts his new brand, Enough, can raise tens of millions of dollars for mental health, similar to the impact the Livestrong bracelet had on cancer research.
Sonia.ai is an AI-powered application that Blake Mycoskie describes as an 'incredible AI therapy bot' for emotional support.