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Beepi Winding Down After Burning Through $150M

wsj.com

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Re: Beepi Winding Down After Burning Through $150M

#21

Post by boxcardavin »

edoceo wrote: post #19

I hate seeing things like this. As an entrepreneur it's frustrating that I've built a business, in a growing space, $300k ARR, consistent growth, a few employees, no debt and a well defined path to 10x growth that's not built on any (bulshit) models that VC seems to love. And for some reason it's very hard to find funding that's not from Wall Street guys (who love models that earn). Hey VCs! I can burn less of your m…

VCs invest in people they know and people who know people they know. Need-ta fix that first, but those peeps might not be the type of peeps you wanna know.

"The game is the game."

Re: Beepi Winding Down After Burning Through $150M

#22

Post by meddlepal »

btgeekboy wrote: post #8
puranjay wrote: post #6

Earlier quoted context omitted.

How the hell do you burn through $37.5M a year? It's a used car marketplace? How...?

A ton of ads on FM radio would be my guess, based on on how often I heard them.

Interesting... I never heard or saw a single ad for them. Literally the first time I am ever hearing about Beepi.

Re: Beepi Winding Down After Burning Through $150M

#23

Post by killbrad »

Silicon valley mental bubble. I've never heard of this company (not a problem), but there seems to be a SV problem I see constantly repeating:

- Some people like this thing. There could be a market.

- Investor cash gushes in; fast fellation or get no orgasm!

- Startup uses up all of the money somehow on bullshit or self-payment of execs.

- turns out a good thing is now shit because VC's jizzed them full of undeserved cash, the founders sucked up the money, and the staff no longer has any incentive to deliver.

- Hacker News article.

Venture capital is a major problem here. Rich idiots keep giving out money to people that want money, hoping that one of them will become a unicorn. News flash: the bubble is gonna pop again because venture capitalists are basically all idiots. They gamble money they can lose. However, the average person can't handle those fluctuations.

Re: Beepi Winding Down After Burning Through $150M

#26

Post by hyh1048576 »

killbrad wrote: post #23

Silicon valley mental bubble. I've never heard of this company (not a problem), but there seems to be a SV problem I see constantly repeating: - Some people like this thing. There could be a market. - Investor cash gushes in; fast fellation or get no orgasm! - Startup uses up all of the money somehow on bullshit or self-payment of execs. - turns out a good thing is now shit because VC's jizzed them full of undeserved…

I used them and sold my car at a price better than any dealer. But I personally doubted whether their business model was viable. Actually people don't sell cars very often and being an "car dealer on the internet" doesn't change that fact.

Re: Beepi Winding Down After Burning Through $150M

#27

Post by ThrustVectoring »

Rainymood wrote: post #25
sjcsjc wrote: post #4

Paywall workaround https://www.facebook.com/l.php?u=https://www.wsj.com/article...

Not sure why, but this paywall workaround goes through facebook. It does work, but it goes through facebook.

Because WSJ wants to have their articles shared on facebook viewable, but throw a paywall on other attribution sources.

Like, I also do not have a WSJ subscription, but my email subscription to the Volokh Conspiracy gets me links to readable articles.

Re: Beepi Winding Down After Burning Through $150M

#30

Post by isolli »

puranjay wrote: post #6
nikanj wrote: post #2

Founded in 2013, winding down in less than four years. There's a lesson about burn rates here.

How the hell do you burn through $37.5M a year? It's a used car marketplace? How...?

Maybe they're returning some of the money to investors, like Staffjoy did recently?
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