Mar 26, 2021
 | 
Shiloh Lesner

Lester Townsend grew up idolizing tech leaders like Jeff Bezos, Bill Gates, Mark Zuckerberg, and Elon Musk. He admired the risks that they took, and how much money and power it led them to. 

He had read article after article about how they put everything on the line, worked hard, and eventually became billionaires, so, when Townsend was 21, he dropped out of college to start his company, GoodStock, a dating app for day traders. 

Townsend loved college, and was on track to graduate, but since his heroes had all been college dropouts, he thought it was best that he follow suit, despite his parents’ pleas.

He worked on his startup out of his parents’ garage, because as Townsend put it, “where else can you start a successful business?” but there was something missing...debt. All of his idols had taken on massive amounts of debt to start their companies, and Townsend assumed that it was the crushing pressure of that debt that had led them to success. So in 2019, Townsend took out a massive loan and he put it all into marketing for GoodStock.

Fast forward to today and GoodStock has not been able to reach even a small level of success. Townsend has no income, a massive amount of debt, and is earning money by answering surveys online. In a recent interview he told The Unicornian “I still don’t know where I went wrong, but now at least when I start my next company, I can call myself a serial entrepreneur. That might make the difference!”

Popular Articles