Well, We Failed – Wattage is shutting down
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Re: Well, We Failed – Wattage is shutting down
#2Should have focused on a specific sub-market at first, used it to proof-out internal tools and design->front door delivery processes, show the potential.
Something boutique-ish but simple, maybe a few internal configurables, that could use customization. Like headphone amplifiers (since headphones are becoming like fashion accessories).
Or e-ink pens.
Re: Well, We Failed – Wattage is shutting down
#3It's always instructive to see how people failed and how they eventually realized why.
In this case I would have told them up front this is too much to do to start with. To get big wins eventually you have to start with small ones.
Re: Well, We Failed – Wattage is shutting down
#4I'd say you were just too early, everyone will benefit from them having pushed these ideas further.
Re: Well, We Failed – Wattage is shutting down
#5Thanks for the mostly transparent insight into your experience.
How does one enter a deal to pay back investors with a shuttered operation? Does that mean make them whole or just pay something back? It seems like someone is holding onto a bag - THE bag?
Re: Well, We Failed – Wattage is shutting down
#6Should have focused on a specific sub-market at first, used it to proof-out internal tools and design->front door delivery processes, show the potential. Something boutique-ish but simple, maybe a few internal configurables, that could use customization. Like headphone amplifiers (since headphones are becoming like fashion accessories). Or e-ink pens.
That seemed to be what they did. Only a pod cast radio instead of a headphone amp.
Re: Well, We Failed – Wattage is shutting down
#7Should have focused on a specific sub-market at first, used it to proof-out internal tools and design->front door delivery processes, show the potential. Something boutique-ish but simple, maybe a few internal configurables, that could use customization. Like headphone amplifiers (since headphones are becoming like fashion accessories). Or e-ink pens.
It's really easy to say this is why someone failed and this is what they should have done instead but take a moment to walk in their shoes. Do you really think it never occurred to them? Every decision has incredible amount of weight to it and only they had to the bear the consequences of the those decisions.
Re: Well, We Failed – Wattage is shutting down
#8If your business hinges on "playing the VC game", do you really have a business?
Re: Well, We Failed – Wattage is shutting down
#9POP!
Re: Well, We Failed – Wattage is shutting down
#10How did Wattage secure a deal to return its investors money? Presumably they had spent it. Did they arrange a loan on terms that would give the original investors liquidation preferences?