BrickX chief says he prefers the 'educated' investor, not the $100 novelty punter

BrickX chief executive Anthony Millet has opened up about the brutal lessons learned from starting up the fractional real estate investment business.

Speaking at the Intersekt fintech conference in Melbourne this month, the former online retail executive said mistakes are bound to be made when operating a high-growth company.

“Learning from your failures or some of those mistakes, making sure you have some validation of what to do and what to not do in future, is something that forms everyday part of being a startup,” said Millet.

“I probably have 10 failures a day. Building up that resilience – and having that vision — is really a key part of being a startup founder and continuing to power on.”

BrickX allows everyday people to invest in parts of a residential property through units called “bricks”, which cost as little as $66 each. The bricks can then be bought and sold on a secondary market, operated by BrickX, for liquidity.

Here are the three lessons that Millet learnt from the BrickX experience: Read more

Tony Yoo - Business Insider Australia - 8 Nov 2017