Live data from Hacker News

I wasted $40k on a fantastic startup idea

tjcx.me

11–20 of 408 posts

Re: I wasted $40k on a fantastic startup idea

#11

This reminds me of an idea I had days ago of using an AI to tell poisonous mushrooms from edible ones apart, from photos. Then I realized I don't want to be responsible for anyone's death.

What if you limited the range from I don’t know if it’s poisonous to X% likely poisonous vs is/is not poisonous?

Re: I wasted $40k on a fantastic startup idea

#12
post #7

I think this was posted already (a couple of years? ago) Anyway, yeah, it wasn't a good value proposition (and is it just me or GlacierMD is a bad name for this)? Because in the end, it doesn't matter much if you don't get "the absolutely best choice of drug". If it solves your problem great, if not, doctors can exchange it, but that's when the drug or dosage is bad, not "not great".

From Glacier, it's a very short mental route to Titanic. So, yeah I'd say naming your product that brings up thoughts of the Titanic is not great.

Iceberg != Glacier. AWS manages to market Glacier without people expecting S3 to sink to the bottom of the Atlantic

Re: I wasted $40k on a fantastic startup idea

#13

This reminds me of an idea I had days ago of using an AI to tell poisonous mushrooms from edible ones apart, from photos. Then I realized I don't want to be responsible for anyone's death.

What if you limited the range from I don’t know if it’s poisonous to X% likely poisonous vs is/is not poisonous?

People empirically do not understand probability in a useful way. Folks will, in aggregate, read that as "X% poisonous", not "X% chance to be kill you."

"Oh, that's only 25%, it'll be fiiine."

Re: I wasted $40k on a fantastic startup idea

#14
I think that people are probably misleading themselves if they say they want it, but aren't willing to pay for it.

People fork over money for IAPs by the millions per minute, because they want the results.

I think if it were truly that desirable, people would have been happy to pay for it. I just don't think it provided that much value to the customer.

Re: I wasted $40k on a fantastic startup idea

#15
This article's thesis seems to be that medical professionals are not incentized to provide the best interventions, and as a result, wouldn't pay for this service. However, what the author fails to mention is the competitors in this space that are successful, such as Up To Date, which provides really high-quality research trial data: https://www.uptodate.com/home

Rather than building a product that informs medical professionals about effective interventions, I wonder if the creator would have had more success if he deeply explored what sources of information these medical professionals pay for now - do they pay for anything at all, such as UpToDate, and don't want to pay this because it's an additional expense? If the creator found which sources people are using, the creator could sell this database as a feature for these partners and widely disseminate this data through partner channels rather than creating a competing source of information. It seems to be a case of this being a good instance of a B2B2C model, where selling this service to other businesses that sell directly to medical professionals could be more viable than trying to sell directly to them.

Alternatively, if the creator wanted to sell to patients, rather than medical professionals, the blueprint here is all of the consumer reports companies, such as Wirecutter, which is one of the New York Times's most popular services. Here, again, a "Wirecutter for medical interventions" could be quite successful, and you could sell this service to media companies that provide consumer reports as a service that would bolster these companies.

It's bad the creator wasn't able to find traction, as getting more medical data into the hands of consumers could have a huge postive impact over time.

Re: I wasted $40k on a fantastic startup idea

#16

This reminds me of an idea I had days ago of using an AI to tell poisonous mushrooms from edible ones apart, from photos. Then I realized I don't want to be responsible for anyone's death.

Definitely a neat idea, but how would this work? Most identification starts with a spore print. What if instead of an AI to identify mushrooms it was software that used a classification system like what is described in "Mushrooms Demystified".

Edit: Should clarify most reading I have done on mushroom ID involves taking spore prints as an essential step but it's not always the rule.

Re: I wasted $40k on a fantastic startup idea

#18

This reminds me of an idea I had days ago of using an AI to tell poisonous mushrooms from edible ones apart, from photos. Then I realized I don't want to be responsible for anyone's death.

Isn't the volume so low on that and the latency requirements so undemanding that ML is overkill to get the answer as well as the accuracy issues with false positive for "not deadly" being somewhat asymmetric?

I still think of ML as having a niche of "mostly right is ok" and useful for very, very large volume otherwise one or more people does better for less. That may change in time. Self driving cars are very close now they say, but i suppose we've been hearing that for a few years without getting there.

Re: I wasted $40k on a fantastic startup idea

#19
post #2

I like your idea, but I’m confused why you didn’t try the webmd competitor route.. 50c/user that webmd makes is pretty good really , with good SEO + content marketing you could scale to enough users to make things interesting

Exactly. This was the right path in this case. The value is for the consumer, if he could attract just 100K visitors per month, that's $500,000/year.

Not only that, he would have a highly targeted group of users that he could tailor all kinds of products and services to.

Re: I wasted $40k on a fantastic startup idea

#20
post #10

Amusingly enough, I've got a document that's essentially a list of ideas where the business model is spurious at best and on that list is a solution almost identical to what was built here. I appreciate that someone took the dive and then shared the process, pain and failure of seeing it through to its conclusion. The only thing missing is the attempt to raise VC money to scale it to some sort of expert system you ca…

Turning the product described in the article into an enterprise product sounds like nonsense to me. The product should arrive to the user that benefits the most. Isn't that people in general?
Post reply on HN