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Re: Uncuts Ups & Downs | The State Of Things
[1/4] July was an extremely tough month for us. A part of a team was fired since we could not afford to pay salaries, and we ran out of money even to pay for infrastructure. The primary problem was our April mistake with smart contracts and the decision to refund 75% of our future earnings. It’s clear, we gave away a huge chunk of what we were made, the rest we spent only on service providers and the infra. There were no funds for scaling. But that wasn’t the only problem. After seeing the behavior of our users, and competitors’ users we finally got that the Uncuts concept has no PMF (product-market-fit).
Our monthly burn rate excluding salaries is almost $2k. It includes Privy, Neynar, Pimlico, Subabase, Vercel → Hetzner, etc. Despite we are still optimizing our infra needs and migrating from some of these services, we struggle to afford these expenses.
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