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Dog-walking startup Wag raised $300M, then things got messy

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Re: Dog-walking startup Wag raised $300M, then things got messy

#41
post #34

>Mike Walsh, a general partner at Structure Capital, which was an early investor in Wag, described the brothers to CNN Business as "so smart" that it's "almost difficult to communicate" with them.

Can also be read as smart with poor social skills.

Re: Dog-walking startup Wag raised $300M, then things got messy

#42
post #4

Earlier quoted context omitted.

Ok, but please don't post unsubstantive comments to Hacker News.

What the person is trying to say is these startups are essentially playing by the rules of "crossing the chasm", "the lean startup" etc, but only in the most theatrical and vapid of ways. It's an application of the startup playbook on something essentially meaningless. Wag is an idea that could be well executed in about 2 million - a trendy app, some "social networking" for dogs and their owners, a form of payment an…

Your comment comes closer to being substantive, which is often the case with the reactions people post to our requests not to post unsubstantive comments.

Even so, while I understand your perception and like most people I intuitively feel like it must be true in many cases, I'm missing any sense of what specifically makes it true in this case, other than that "dog-walking" sounds trivial. A line of the form "Wag is an idea that could be well executed in about 2 million" feels to me like it's in the orbit of "I could implement that in a weekend"—the sort of thing people say when they're not personally close to the problem, because everything seems smaller at a distance.

Similarly with what you say about "bozos" and "well-paid fools"—ok, such humans exist, maybe including some of the humans who see others as bozos and fools—but do you know something specific about the individuals here? If you think you do, do you really know it, or might this be hearsay based on very little information? Usually what comments like this do is repeat generic reactions about a common topic, which is actually the opposite of a substantive HN discussion.

Re: Dog-walking startup Wag raised $300M, then things got messy

#44

If you're Saudi Arabia with a silly amount of money in cash, are you looking for 10-100x return out of this, or are you simply looking for a place to park liquid funds that won't lose as much as leaving it in German government bonds.

Or are you spending money on PR that might even get you a direct ROI? Putting $50bn in VC that is primarily invested in the US likely buys you some sympathy, legitimacy and connections.

Re: Dog-walking startup Wag raised $300M, then things got messy

#45

What I don't get about the Vision Fund is how so many of its investments lack (pun intended) vision. Other than the ARM, Nvidia, and a few billion in biotech (about $3 billion[1]) investments, so much of the fund has gone into pretty "obvious" traditional startups. If I had a $100 billion fund, I wouldn't be swinging for these singles and doubles (which Uber and WeWork were by the time Softbank got involved, although…

Except that this isn't what Vision fund is about.

What you are describing is more like a pre-seed/seed fund of which there are thousands around including YC. Sure they don't have the capital but that is often not the blocker for most of these companies.

Vision fund is focused on taking successful companies global. And using their capital to knock out competitors and their experience in managing execution risk.

And their "vision" seems to be focused on a world where everything is provided by autonomous and robotic systems. And where Uber, Wag etc are the brands that leverage them.

Re: Dog-walking startup Wag raised $300M, then things got messy

#46
post #15
post #4

Earlier quoted context omitted.

Ok, but please don't post unsubstantive comments to Hacker News.

Can we make a small exception for when the comment perfectly elucidates what everyone is actually thinking while reading the article? I’m sorry, all due respect, but.... a dog walking company .

Well, let's apply the HN guidelines [1] and, more importantly their spirit, to this case. That spirit is to be reflective rather than reflexive [2], which means to interrupt the rapid reflex that springs up immediately ("what everyone is actually thinking"), inhibit the temptation to react, and give the slower, reflective part of the brain time to catch up.

When I do that, the first thing that comes to me is that the dog-owner market is huge—so huge that $300M is likely a small number rather than a large one. Moreover, the emotions that people have about their dogs are intense, profound, and deeply personal. ("Dogs are the new kids", reads a coffee mug I once saw in a kitchen in San Francisco.) So this market is not only broad, it's deep; the potential customers are not only numerous but the chance for repeat business is high. Probably there's a huge opportunity here, if you can satisfy people's needs or at least give them a feeling of that. As for dog-walking sounding trivial, if you've ever been (or known) a stressed-out, overworked dog owner and how it feels to face your sad unwalked dog in the evening when you have no energy left to do anything, this is actually not trivial at all. It is not only a form of suffering, it's closely connected with deeper forms of suffering—because so many of us invest our unfulfilled relational capacity into our pets. People will spend a lot of money to relieve a problem like that. In short: huge market, repeat business, premium pricing.

I know nothing about Wag, but this is more than enough to see how the GP comment broke the HN guidelines by being a shallow dismissal. I totally get why people want to post that kind of rant and share that perspective—I share it too, it's fun and creates a sense of community in its own way. But we have to remember what we're optimizing for on HN. There are tradeoffs in the kinds of discussion we get to have. If we take the shallow route and go for the sugar rush of piling on stupidity at a distance, we forego the quieter, insightful kind of discussion. Compounded, this determines the kind of site Hacker News is going to be.

Edit: I read the article, which seems to me unusually good and to deserve a more thoughtful discussion than most comments have offered here so far. Among other things, it makes clear that the issue is not "a fucking dog walking company" being a bad business per se, because a competitor is actually doing better.

1. https://news.ycombinator.com/newsguidelines.html

2. https://hn.algolia.com/?dateRange=all&page=0&prefix=true&que...

Re: Dog-walking startup Wag raised $300M, then things got messy

#47

These on demand - fulfilled by gig contracting platforms can _only_ provide value if there has been a big technological change that undermines expertise in a job. Uber works because of google maps knowing a faster route than even the 20 year veteran tax driver. There hasn't been a revolutionary technology in dog walking, just people who need cash but dont know pets. There hasnt been a revolutionary technology in groc…

> Uber works because of google maps knowing a faster route than even the 20 year veteran tax driver.

Who also use google maps to do their route planning...

Re: Dog-walking startup Wag raised $300M, then things got messy

#48

I applied to this company right at the beginning of there expansion. The person that interviewed me said he had been sleeping on couches for the last year or so, (around 2017) and working insane hours. They gave me a php coding test to implement some kind of pub/sub. I finished it. Had no real way of submitting it other than emailing it to the interviewer as a zip. The moment the interviewer told me they worked with…

I had a similar experience in 2018. In fact, I think my application with them is still active, cause I also never heard back from them after my in person interview.

They had me come in at noon, said they'd serve me lunch, then directed me to a galley kitchen where there were some leftovers from something that was served the day before.

I kind of zoned out after that, cause I was hungry and also annoyed, but I remember being condescended to, everyone being late, and everyone seeming like they were in a huge hurry. Never heard a rejection or offer from them.

My ex has our dog, I told her to stop using Wag as soon as possible. I'm not trusting a company that disorganized with my dog.

Re: Dog-walking startup Wag raised $300M, then things got messy

#49

I applied to this company right at the beginning of there expansion. The person that interviewed me said he had been sleeping on couches for the last year or so, (around 2017) and working insane hours. They gave me a php coding test to implement some kind of pub/sub. I finished it. Had no real way of submitting it other than emailing it to the interviewer as a zip. The moment the interviewer told me they worked with…

Are they at least using a php framework like symfony or is it all spagetti?

I interviewed with them. Their tech stack is Laravel. The whole interview seemed flaky. Now glad I got rejected.

Re: Dog-walking startup Wag raised $300M, then things got messy

#50
post #31

Earlier quoted context omitted.

What about scaling a VC organization ? With hundreds of managers, A lot of institutional knowledge, helpful infrastructure for said company, and deep ties between companies ? Come to think of it, it has many similarities to Google X. But that's extremely hard to build.

You're describing Ycombinator.

Sure, though from what I found the Vision Fund is about 10x larger than Ycombinator, so doing the Ycon thing at a VF level would probably involve some scaling challenges. But fundamentally, it seems a better way to go about things than putting nearly all of your eggs into late-stage start ups with highly correlated business models & failure modes.
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