sam carter | 현춘
@samhcarter
You should read my essay about why your startup might not want to “move fast and break things.” https://samhcarter.com/posts/do-things-that-dont-break/
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Dan Romero
@dwr.eth
I disagree. OpenAI is valuable because they are ahead and move quickly. If they move slower, they will lose their advantage.
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sam carter | 현춘
@samhcarter
FWIW this is mostly about hardware startups and how software investors undervalue their early signs of traction.
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Dan Romero
@dwr.eth
Consumer hardware? In my experience, the investors respect the early traction, but initial prototype / version and at-scale production are very different areas of competence
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sam carter | 현춘
@samhcarter
Consumer and enterprise. Early (pre-growth) investors mostly use ARR growth as a leading indicator, while it’s a huge lagging indicator for hardware companies with enterprise customers, since most early payments are in mutual NRE. But then revenues explode because that NRE made and/or qualified a global supply chain.
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sam carter | 현춘
@samhcarter
I’m mostly referring to B2B sales (for components in consumer devices). However, I think this still holds for DTC — people bought Rabbit and Humane, but they sucked so they died quickly without getting the “iPhone chance” to succeed and improve over time. The first iPhone had no App Store. Not possible today.
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Dan Romero
@dwr.eth
Daylight is recent example. Great v1 product but had a very very hard time raising capital.
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