Thanks for contributing to reduce survivorship bias in the startup space and for being very vulnerable.
Appreciate the comment!
Our VC told us they won't follow for Series A. At the worst moment
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Re: Our VC told us they won't follow for Series A. At the worst moment
#12I am skeptical of "professional" founders. How can you come up with useful and feasible products in a couple of weeks without any deeper knowledge about markets, demand, etc.? To me this sounds mostly like business school kids throwing around buzzwords.
Not sure what you mean by "professional" founders?
VCs?
Re: Our VC told us they won't follow for Series A. At the worst moment
#13we were not the right team for Web3 I commend you on your foresight for this decision.
I do think most web3 founders are newbies, but somehow you need to be very passionate about the space...
Re: Our VC told us they won't follow for Series A. At the worst moment
#14I am skeptical of "professional" founders. How can you come up with useful and feasible products in a couple of weeks without any deeper knowledge about markets, demand, etc.? To me this sounds mostly like business school kids throwing around buzzwords.
Not sure what you mean by "professional" founders? VCs?
The author of the article and her team, I think.
Re: Our VC told us they won't follow for Series A. At the worst moment
#15Ok im curious, how much cash do you have in the bank left?
Can't share yet but enough to start a new product with an 8-people team!
Re: Our VC told us they won't follow for Series A. At the worst moment
#16I am skeptical of "professional" founders. How can you come up with useful and feasible products in a couple of weeks without any deeper knowledge about markets, demand, etc.? To me this sounds mostly like business school kids throwing around buzzwords.
Some are just good salespeople. Selling is a large part of gaining traction. I think a lot of good salespeople go out with an idea, try to sell it to potential customers, come back with feedback on what the potential customers actually need and adjust the product accordingly. Being able to get your foot in the door with a lot of potential customers is a very valuable skill. You don't need the world's greatest idea when you start.
Re: Our VC told us they won't follow for Series A. At the worst moment
#17I'm not surprised the neo bank idea was shut down. The profit margins are really low and moving forward, capital is going to be expensive. In India, most neobank startups are bleeding money through rewards and incentives funded by VCs and they are all shutting down one by one. There is no moat. Support is expensive. They are still tied up with a traditional bank because getting bank license is not an option for start…
I agree with you around the analysis, but how do you explain the success of Ramp in the US then? Re India, will RazorPay win on the neobank side as well? As they have the critical size?
Re: Our VC told us they won't follow for Series A. At the worst moment
#18I'm curious. What was your original idea that you trashed?
Re: Our VC told us they won't follow for Series A. At the worst moment
#19we were not the right team for Web3 I commend you on your foresight for this decision.
Yup it requires an unwavering belief, not just a 'spark of curiosity' x opportunistic, which was our case.
Re: Our VC told us they won't follow for Series A. At the worst moment
#20How did you decide to pivot to a billing solution?
It seems that you are evolving in this space right now, when looking at https://getlago.com.
Also, did you pitch the new idea and all investors were in? I think a lot of companies are living this tough pivot situation, and finding a new idea is hard…