101–110 of 209 posts
Earlier quoted context omitted.
Who you know, luck, being in the right place at the right time are MAJOR components of success in life. Infinite number of equally talented people in this world, without the right path.
This comment showed as burried for me, which I find odd.
[1] system to automatically match an item in an image, against its equivalent in a database with ecommerce links to purchase that same product.
And that leaves 0 for business + marketing + sales.
Maybe you didn't find the right business model during 5.5 years because you had nobody working on finding the right business model?
As someone who is interested in one day starting my own business, I have nothing but respect for someone who has the guts to follow through with that and pursue their vision. That being said... why did you (or if anyone else can chip in) decide to chase funding when you didn't have a business model? Maybe I'm being naïve here, but isn't it kind of crazy to raise 3.5M in funds for a business that has no plan but to be…
But from a cynical standpoint, why not take VC money if you can get it? It seems like you should take VC money if you don’t have a business model that would lead to being a profitable ongoing concern.
If I can see profitability, why would I give up equity?
You let other people take the downside risk. Why use your own money instead of other people’s money.
The guy of blogger had to fire pretty much everyone, and it was on bay still running, and everyone angry at the former employer. A few months pass and Blogger took off.
Earlier quoted context omitted.
Yes you can. It's called a small business loan. See https://www.sba.gov/funding-programs/loans and https://www.bankofamerica.com/smallbusiness/business-financi... . You'd finance your dry cleaners with debt rather than equity because (unless you are starting a chain) you are not shooting for the massive, near-zero marginal cost scaling that the venture capital model focuses on. Instead, the bank looks for a modest, p…
Yah, but re:wework, throw in a dry cleaning app that schedules a dirty laundry pickup and suddenly the valuation goes from marginal to billions. Especially if you get some machine learning in there to detect spots (or something).
First, there's a delivery part. Delivery companies often become very big and make a lot of money.
Second, centralizing many small dry cleaning places into one has Significant economic advantages.
Third, they probably use an asset-lite model like Uber.
Fourth, all those make them somewhat similar to some sucsesfull, high growth companies , so it's possible they'll grow big.
> "We are a team of 8. We are 2 full-stack, 1 iOS, 1 Android and 4 product people." And that leaves 0 for business + marketing + sales. Maybe you didn't find the right business model during 5.5 years because you had nobody working on finding the right business model?
> "We are a team of 8. We are 2 full-stack, 1 iOS, 1 Android and 4 product people." And that leaves 0 for business + marketing + sales. Maybe you didn't find the right business model during 5.5 years because you had nobody working on finding the right business model?
As someone who is interested in one day starting my own business, I have nothing but respect for someone who has the guts to follow through with that and pursue their vision. That being said... why did you (or if anyone else can chip in) decide to chase funding when you didn't have a business model? Maybe I'm being naïve here, but isn't it kind of crazy to raise 3.5M in funds for a business that has no plan but to be…
> Maybe I'm being naïve here, but isn't it kind of crazy to raise 3.5M in funds for a business that has no plan but to be acquired by someone else? That's pretty common, and is basically what seed funding is . The paradox behind markets and investment is that logically speaking, if a potential company has a profitable business model, that company should already exist. After all, with millions of potential entrepreneu…
This basically amounts to "everything that can be invented has been invented". You sure?