#122 Jamie Siminoff: Lessons From Building Ring

Written By Omaid Homayun

Jamie Siminoff is the CEO and founder of Ring, the camera company that transformed home security. While his viral Shark Tank episode didn't yield a deal from the sharks, it launched the video doorbell company. In 2018, Ring sold to Amazon for $1 billion. Jame published a book titled Ding Dong: How Ring Went from Shark Tank Reject to Everyone's Front Door. 

In this episode we discuss: 

-the greatest lessons from his failures
-the 1 question he'd ask James Dyson in an elevator
-why often the most important decisions are the ones we say "no" to
-how the best thing that never happened was not getting acquired by ADT
-what he learned about the relationship between money and happiness
-the best career advice he ever received
-the nicest thing anyone has ever done for him and more

PODCAST SHOW NOTES:

Key Timestamps

[00:00] Opening & Growing Up in New Jersey

  • Jamie's childhood in Chester, New Jersey

  • The nature vs. nurture debate on entrepreneurship

  • Growing up with freedom and access to tools in the basement

  • The "back by dark" generation vs. today's parenting

[03:30] Parenting Philosophy & Life Lessons

  • Greatest lesson from Jamie's parents: treating him like an adult

  • Letting kids be who they want to be (Oliver's sports photography journey)

  • Rejecting college stress and performance pressure

  • Supporting children without forcing them into predetermined paths

[07:00] Failure as Learning & The DoorBot Story

  • Reframing failures as "learnings"

  • How DoorBot (Ring's predecessor) taught valuable lessons despite commercial struggles

  • The importance of being public with failures to accelerate learning

  • Why perfect products don't exist on day one for true innovations

[10:15] Elevator Questions: Advice for a 25-Year-Old

  • Finding what you're passionate about when you're young and responsibility-free

  • The difference between a "job" and meaningful work

  • Why purpose matters more than paychecks

[11:30] The James Dyson Question

  • Jamie's admiration for Dyson as his "mentor I haven't met yet"

  • Understanding how Dyson thinks about entering new markets

  • The power of authenticity in brand building

  • Why Dyson still vacuums his own house

[14:00] Building Authentic Brands

  • Why authenticity is the foundation of great brands (Nike, Dyson, Ring)

  • The Jersey grit mentality

  • You can't buy authenticity—it comes from genuine purpose

[16:45] The Art of Saying No

  • Most important decisions are the ones you decline

  • Turning down private label deals to maintain customer relationships

  • Building long-term value vs. short-term revenue

  • The difficulty of saying no when you're desperate

[19:30] Decision-Making Framework

  • Being willing to make wrong decisions and course-correct

  • Having a clear North Star (Ring's: own the customer relationship + make neighborhoods safer)

  • The ADT meeting that never materialized—why it was the best thing that didn't happen

  • Why small companies often die when acquired too early

[23:00] Money & Happiness

  • Going from zero to significant wealth in 60 days

  • Being "all in"—Ring was 100% of Jamie's net worth

  • Borrowing money for the closing party after signing with Amazon

  • Why money's impact is temporary but purpose endures

  • What truly motivates people to stay at companies for 15 years

[27:30] Looking Ahead: Fatherhood in 10 Years

  • Hopes for relationship with Oliver at age 27

  • Supporting children to fully achieve what they want for themselves

  • Staying best friends and traveling together

[28:30] Best Career Advice Ever Received

  • Be very careful with advice—everyone is unique like a fingerprint

  • Listen and learn from everyone, but filter through your own lens

  • Advice from one person's perspective doesn't automatically apply to yours

[30:00] Wisdom from Age 40 to Now

  • Wish he understood investing and compounding earlier

  • The power of the S&P 500 and long-term wealth building

  • Brad Gerstner's Invest America initiative (teaching kids to invest)

  • It's harder to keep money than make money

[33:00] Acts of Kindness

  • Story of a stranger providing an AC unit during a Bay Area heat wave

  • Mark Schuster's unwavering support during Ring's darkest moment

  • The importance of showing up for people

  • Real legacy: how many people say you changed their life

[37:00] Luck vs. Skill: The Lottery Ticket Theory

  • Shark Tank as the ultimate lottery ticket (30,000+ applicants)

  • Hard work buys you more lottery tickets, but doesn't guarantee winning

  • Seeing smart, hardworking people with great ideas not make it

  • The phenomena of Ring becoming the largest company ever on Shark Tank

[40:00] Closing Thoughts

  • The power of brand awareness and timing

  • Resourcefulness as a core trait

  • Learning and adjusting on the fly

Omaid Homayun
Next

#121 Patrick Mouratoglou: Building Unshakeable Confidence