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Taking over a Dead IoT Company

blog.kchung.co

21–30 of 213 posts

Re: Taking over a Dead IoT Company

#21
post #8

"As we discussed earlier, even at $300 the product is too cheap. The sign should have likely been selling at $600 from the very beginning." Even at $600 - there's a screenshot saying the company had three engineers and a marketer. If your 4 employees earn $25k per annum, with the $150 parts cost you'd have to sell 222 signs at $600. And if the employees were on $100k, that's 888 signs a year. That's a heck of a lot o…

Or charge less and get a recurring fee for the API.

Re: Taking over a Dead IoT Company

#22

Towards the end of the article the author mentions not wanting to pursue this as a business as there are so many cheap programmable signs out there already. As someone who would love to buy one of these and customize it for myself does anyone have experience or recommendations with any of these?

Some experience. The cheapest and easiest route is to buy a pre-made sign from AliExpress and just use the serial/usb interface to send data to the sign. That's somewhat limited, as you can't really control each pixel in a real time way, and you're limited to sending a series of "screens" as either text (in their limited choices of fonts) or images, defining some linger time, transitions, etc. With some visual disruption as you send new data to redefine what to display. But it's easy. There's also variations on this theme. Some signs, for example, have had people who reverse engineered the protocol so that you can send stuff from your own scripts instead of the supplied (usually crappy) software.

The other path is to buy plain led matrix modules and use some SBC to directly control what's displayed. More fun, but more work. This particular sign uses qty 2, 4mm pitch, 32x64 pixel panels, side by side. Like this one: https://www.aliexpress.us/item/2251832064290423.html?spm=a2g... Lots of choices in pitch, single/three/full color, indoor or outdoor brightness, etc. Though you need to ensure your choice of driver (see paragraph below) supports it. They have different refresh rates, data sequence, and timing requirements.

Then, you pick what to drive it with. Lots of choices there. There are libraries and hardware level-shifter adapters for a variety of things like a Parallax Propeller, Raspberry Pi, BeagleBone Black, etc. With various advantages and disadvantages. Fwiw, the Rpi is usually trickier as you're bitbanging from a non-real-time OS. The Parallax and BeagleBone have better ways to be quasi real time.

Re: Taking over a Dead IoT Company

#23
post #6

Hello, author here. Happy to answer any questions! My apologies for the downtime, I wasn't expecting much traffic today since I submitted the post to HN yesterday but I've started scaling my server now!

Love the story! At one point, you are asking about the purpose of the giant hole in the backside of the display: The most plausible explanation is that, it is to allow air circulation within the device to prevent overheating.

Another explanation that I saw [0] was that it was for people to pop the back panel out. I think this is the most likely explanation but it didn't occur to me while working with the sign. I feel like a little notch would have been more appropriate for an actual product.

[0] https://hackaday.com/2023/01/09/iot-archaeology-leads-to-api...

Re: Taking over a Dead IoT Company

#24
post #12

Earlier quoted context omitted.

The entire project looks like the result of a high school student's first Instructables. It's hilariously under-engineered and it's clear that these folks had absolutely no idea of how to build a product, IoT or otherwise. Hint: if your product plans involve a raspberry pi, you probably fucked up.

I think dunking on the rpi is harsh - if it allows you to prototype and get your small-volume product out the door quickly, there's lots of other areas you could optimize the BOM first. Better to make a product with 75% gross margins as a single dev in 6 months than a product with 80% gross margins with a team of 6 in a year. Of course, they also overhired and wasted money on other BOM components

The problem with rPi is storage and filesystem. You need to issue a shutdown command and wait for it to complete before removing power in order to help ensure that it will come up without problems. This will literally never happen with a consumer IoT device. Also, SD media is extremely prone to failure.

It's fine for prototype at a very early stage, absolutely not fine for something you ship to a user.

Re: Taking over a Dead IoT Company

#25
post #6

Hello, author here. Happy to answer any questions! My apologies for the downtime, I wasn't expecting much traffic today since I submitted the post to HN yesterday but I've started scaling my server now!

Just curious what made you come up with at least $30 per LED panel, as these should run you about $10 in bulk.

Re: Taking over a Dead IoT Company

#26

I think RPi in this thing says it all. It screams it was built by somebody that does not know how to develop a physical product for mass market. There are only three parts in this product that should have any significant cost to them: * the display itself, * the wooden enclosure, * the packaging the product comes in, If there are switches, potentiometers or encoders I am really partial to well working ones and these…

Even the wooden enclosure could be done for significantly less.

It's effectively a picture frame. There are plenty of standard box frame profiles they are very similar to what they have built. If it was me, I would have explored working with a picture frame company for final assembly, many are used to "assembling" products with extra components (think of stuff on Etsy). The frames are simply cut with a framing guillotine and stapled together.

My estimate would be frame (including custom cut back panel), and final assembly would be in the region of $10-$15 at a US/UK framers. (Excluding electrical BOM)

Re: Taking over a Dead IoT Company

#27
post #25
post #6

Hello, author here. Happy to answer any questions! My apologies for the downtime, I wasn't expecting much traffic today since I submitted the post to HN yesterday but I've started scaling my server now!

Just curious what made you come up with at least $30 per LED panel, as these should run you about $10 in bulk.

I had found some tweets by the company where they talked about using an Adafruit panel that was $40. The price on Amazon was about $30 so I figured I would go with the lower price. They may have switched to a lower cost panel but my guess is that didn't happen.

EDIT: Here is the specific tweet: https://twitter.com/NYCTRAINSIGN/status/926106932573810688

Re: Taking over a Dead IoT Company

#28
post #21
post #8

"As we discussed earlier, even at $300 the product is too cheap. The sign should have likely been selling at $600 from the very beginning." Even at $600 - there's a screenshot saying the company had three engineers and a marketer. If your 4 employees earn $25k per annum, with the $150 parts cost you'd have to sell 222 signs at $600. And if the employees were on $100k, that's 888 signs a year. That's a heck of a lot o…

Or charge less and get a recurring fee for the API.

Perhaps, but still tough to make the business plan work for a $100k wage bill.

833 subscribers at $10/month? 8,333 subscribers at $1/month?

Re: Taking over a Dead IoT Company

#29
post #11
post #6

Hello, author here. Happy to answer any questions! My apologies for the downtime, I wasn't expecting much traffic today since I submitted the post to HN yesterday but I've started scaling my server now!

Love this story. I did something similar with a website. Previous owner took it down, bought the domain from him and it organically grew to over 1m users per month with the same exact functionality. I wouldn't discount your ability to bring this back to market. Would consult a lawyer to see what implications taking over the branding and APIs have. But clearly this has a big market.

I would really like to read more of this story. E.g. what did you do differently, did the original owner ever get in touch with you after it grew, stuff like that. Only if you can, ofc!

Re: Taking over a Dead IoT Company

#30

I think RPi in this thing says it all. It screams it was built by somebody that does not know how to develop a physical product for mass market. There are only three parts in this product that should have any significant cost to them: * the display itself, * the wooden enclosure, * the packaging the product comes in, If there are switches, potentiometers or encoders I am really partial to well working ones and these…

Used to work on an iptv set top box user interface (html+js on opera embedded) back in the days. BOM for the board designed in my country... 150$. Chinese manufacturer proposed a redesign 100% compatible with the same features... BOM at 15$ IIRC
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