Máximo Cavazzani, Etermax | Staying Grounded After Success, Predicting the Future, and Building a Legal Monopoly

The audio and video are in Spanish. These notes are a translation.

Today I spoke with Máximo Cavazzani, CEO of Etermax, the software company behind some of the most successful mobile games of the last decade. Its popular game Preguntados has reached close to 1,000 million downloads worldwide and at one point held the #1 spot in the U.S. App Store. In 2022, Etermax was valued at approximately $1,000 million.

Youtube Timestamps*

[2:11] - Personal Story and First Steps in Entrepreneurship

Máximo discovered his passion for entrepreneurship from a young age, inspired by his father and his technological curiosity.

How did his family environment influence his decision to become an entrepreneur?
Why did he decide to study computer engineering with the impact of technology on the future in mind?

Máximo created his first app for buying stocks from a mobile phone before the iPhone launched.

What led him to spot this opportunity, and how did he turn a simple idea into a global success?
What did he learn from managing his first million dollars at such a young age?

He founded his first company while he was still in university.

How did he handle the challenges of combining studies and business?
What strategies did he implement to find the right partners in his early days?

[17:44] - Lessons on Predicting the Future

Máximo has been recognized for spotting trends ahead of their time, from the smartphone explosion to mobile video games.

What principles does he follow to identify emerging opportunities?
How does he apply the concept of “technology waves” in his business decisions?

Máximo believes that changes in technology and society are the ideal moments to start a company.

Why does he believe that markets in transformation favor new entrepreneurs?
How has he used this approach to differentiate himself in competitive industries such as video games and mobile apps?

[32:36] - Building and Scaling Products

Máximo led the development of Preguntados, one of the most successful mobile games in the world.

What did he learn from his early failures in game development?
How did he turn the challenges of localization and content generation into a competitive advantage?

The global success of Preguntados exceeded every expectation.

How did he handle the pressure of surpassing such a large success in his later projects?
What strategic decisions did they make at Etermax to stay relevant in the video game industry?

[44:29] - Business Philosophy and Culture of Innovation

Máximo advocates the idea that entrepreneurs must “kill their own company” in order to innovate.

How does he make sure that Etermax keeps evolving constantly?
What role does “A/B testing” play in product development at Etermax?

Building a sustainable company requires discipline and a long-term vision.

How does Máximo balance innovation with the need to generate immediate results?
How much importance does he place on creating a culture that values learning and resilience in the face of failures?

[57:16] - Advice for Entrepreneurs and Personal Reflections

Máximo believes that an entrepreneur’s ultimate goal is to build a legal monopoly.

How does this goal affect his strategic decisions when starting a new business?
What distinguishes a legal monopoly from unfair practices in business?

In his own words, entrepreneurship is a way of life.

What sacrifices has he made on his path as an entrepreneur, and what lessons have they left him?
How does he maintain a balance between ambition and patience in his career?