Why I Sold 21 Hats

This week, in episode 101, the tables are turned, as Loren Feldman announces the sale of 21 Hats and takes questions from Shawn Busse, Karen Clark Cole, and Jay Goltz. The buyer is Toby Scammell, founder of Womply, which provides software services to small businesses and helped more than a million of them obtain Paycheck Protection Program loans. Loren will continue as editor-in-chief, but as he explains, much of what this will mean for 21 Hats has yet to be determined—including, for example, whether the new entity will keep the 21 Hats name. Shawn, Karen, and Jay share their thoughts on that and also talk about how Karen solves problems for her big tech clients—and what smaller businesses can learn from her process. And Jay explains a change he’s making to his 401(k) plan that he believes will make it fairer for all of his employees.