81–90 of 238 posts
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Airbnb is mostly commercial listings that are basically unlicensed hotel rooms / appartments. I don't think people renting out their personal living spaces is a big part of their income. It's just a story they use to get around regulations.
None of that existed when they first started. The pitch was to rent out your house while you're out of town.
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In other sectors that's just called a "small business" and celebrated as the fullest expression of the American dream. I've always found it funny that tech treats the idea of a going concern with such distaste.
Specifically investors, not "all of tech". And to be fair to them, if a company doesn't grow, your investment is wasted in that company, right? No shade to good small businesses, but they may not be worth investing in?
See https://codiesanchez.com/book/ or https://store.hbr.org/product/hbr-guide-to-buying-a-small-bu...
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Enough money to keep going doesn't mean just enough money to cover the costs. It means being able to continue paying yourself and all your employees their salaries, meet costs and make a small minimum profit.
Aren't salaries considered to be part of the costs?
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That’s not what a lifestyle business is. Unless your lifestyle is eating ramen
Sure it is. If your business nets 3 million a year, it takes 5 people to run it, and your customer base is steady, that's lifestyle. Sucks for investors, pretty nice for you if you can keep it running.
There are not just startups that become unicorns and startups that fold. Investors' worst nightmare is if you just make enough money to keep going, but you don't grow ("lifestyle business" as they use it is a derogatory term). That's because they prefer a sudden death where they can write down the investment and deduct their loss from taxes than an investment where they never see any money again. And then there are "…
Nothing stops them from selling you back their share at close to zero if they really want to right it off.
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Sure it is. If your business nets 3 million a year, it takes 5 people to run it, and your customer base is steady, that's lifestyle. Sucks for investors, pretty nice for you if you can keep it running.
In other sectors that's just called a "small business" and celebrated as the fullest expression of the American dream. I've always found it funny that tech treats the idea of a going concern with such distaste.
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That’s not what a lifestyle business is. Unless your lifestyle is eating ramen
Enough money to keep going doesn't mean just enough money to cover the costs. It means being able to continue paying yourself and all your employees their salaries, meet costs and make a small minimum profit.
The list is missing stock trading platform Cera. These clowns were absolute scammers with a buggy app and zero customer support.
Another example of objectively obvious fraud that is on the graveyard list is "NFTScoring". Yeah, just what kind of people aspire to tell other people which NFTs to buy (professional shills and get-rich-quick ponzi pyramid scheme scammers, that's who), and what kind of people knowingly invest in them, or recommend them after performing due shilligence?
Filestack YCS12 is a mistake, it's very active.
It’s not really dead, but not really a “startup” in the traditional sense anymore either.
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Sure it is. If your business nets 3 million a year, it takes 5 people to run it, and your customer base is steady, that's lifestyle. Sucks for investors, pretty nice for you if you can keep it running.
I thought that was called sustainable.