My favorite part:

"Shipped horribly buggy beta in 6 months. Charged from day one. No PR, no launch. Revenues: $10 million"

Lots to learn from this approach. Eric gets it.

Just to elaborate from what I gathered from the audio. They shipped the product in 2004, and achieved $10m revenue by 2007.

Still impressive, but that quote seemed a bit misleading.

This seems like great advice but I'd like to point out that IMVU has those horrible ads everywhere (I think that there are flash embedded ones unless I am mistaken) and I'd like to know how much influence this had on revenues compared to the earlier "No PR" approach.