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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

#31
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…

Why bother raising from a VC? Bootstrapping can work out very well.

Re: Beepi Winding Down After Burning Through $150M

#32
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…

10x is $3m ARR. What will your gross margin be at that point? Do you expect to be able to scale beyond that size? How large is the addressable market?

Re: Beepi Winding Down After Burning Through $150M

#34

Earlier quoted context omitted.

Yes you do know #2 when you start. If I'm working on a cure for (name your sickness) you know there is a market. You're doing it wrong if you don't know #2 when you start. Don't be a solution looking for problem/market see: Is Your Product a 'Vitamin' or 'Painkiller?' https://www.entrepreneur.com/article/230736

Many startups haven't figured out monetization at the beginning, that's why they search for Product Market Fit. If you do MVPs properly, you won't have burned much money on the way.

sometimes its hard to do a MVP properly, and sometimes doing MVP and getting insufficient or wrong data is also the case.

like, here are some people that showed interest in this feature, lets build it, and after you build it you see that you simply did not have enough data. like in A/B test if you stop it to early an you get some screwed data.

we had some external company do a FB ads for our company, and indeed we did get a loot of new signups, but after examination we saw that all those signups where garbage.

you really need to do it properly, and i dont think thats easy.

Re: Beepi Winding Down After Burning Through $150M

#36

Question: now that the Google workaround no longer works for WSJ links, are they even allowed on HN? @dang has implied that paywalled articles without workarounds aren't allowed.

Use this bookmarklet someone posted in HN a few days ago:

javascript:window.location="https://m.facebook.com/l.php?u="+encodeURIComponent(window.l...;

Re: Beepi Winding Down After Burning Through $150M

#37
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…

Isn't the point of VC that they gamble high-risk high-reward situations because the high-reward ones pay off the failed risks? If they want to go for a safe option, is your business a better investment than (insert safe investment options here, i don't know much about investing)? There's probably a fixed cost related to every investment(having to study your company etc) which might mean it doesn't pay off to invest in small companies.

Re: Beepi Winding Down After Burning Through $150M

#38

Question: now that the Google workaround no longer works for WSJ links, are they even allowed on HN? @dang has implied that paywalled articles without workarounds aren't allowed.

Use this bookmarklet someone posted in HN a few days ago: javascript:window.location=" https://m.facebook.com/l.php?u="+encodeURIComponent(window.l... ;

For those that read this, here [1] is a draggable bookmarklet that will instantly unlock WSJ articles based on the above code:

[1] http://salzeko.com/wsj

But 99% of HN users are not going to see this and the whole reason the "web" link exists is to aid in the Google workaround, because that was the gold standard until now. WSJ has now put itself into a special class of sites. Unless I post my link on every single WSJ story submitted to HN, non-subscribers (the vast majority of people seeing it here) won't be able to read it, which means they can't discuss it etc. Therefore it would make sense to me that WSJ links should be blocked here.

Re: Beepi Winding Down After Burning Through $150M

#39

Question: now that the Google workaround no longer works for WSJ links, are they even allowed on HN? @dang has implied that paywalled articles without workarounds aren't allowed.

I mod a large sub-reddit, and I added an automoderator rule that basically tells people to paste the text of the article into the comments or the link is taken down after 2 hours. It is very effective.
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