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androidsixteen
@androidsixteen.eth
You know a sector is undervalued when VCs have to hunt for founders to form companies: https://x.com/matthuang/status/1848009139110191373
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Ben - [C/x]
@benersing
Seeing a lot of that - “incubations”
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androidsixteen
@androidsixteen.eth
Does it ever work out? Trying to think of a very successful incubated company (recently, not yc heyday)
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richie is foraging
@richie
there are examples in other industries, like Hims (Atomic Labs), Bitly, Giphy (Betaworks), and Dollar Shave Club (Science Inc)
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androidsixteen
@androidsixteen.eth
Interesting that 1/2 of the examples were d2c
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richie is foraging
@richie
yeah i think its an industry where there is a formula, someone spots the opportunity in the market and it’s a clear equation to optimize to undercut artificially bloated wholesale brands. combined with internet native ads against legacy brands (like Gilette). in Hims case it was the viagra patent expiring.
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androidsixteen
@androidsixteen.eth
Right — and the other two were internet micro utilities (short links and GIFs) Does the incubation model work for things that are less plug and play? Ie. Requires founders to ruthlessly iterate the idea maze
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richie is foraging
@richie
i doubt it. but that opinion is marinated in my own bias + beliefs about where that founder magic comes from and what it takes to build that kind of company over the long haul. i don’t think a hired gun ceo could have built airbnb for example.
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androidsixteen
@androidsixteen.eth
Right, I agree with you Also why I’m bearish this working for consumer crypto (where it’s frontier level open)
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richie is foraging
@richie
yeah im generally bearish on this format, but it could work for projects borrowing from existing games that already worked in a prev era and adapting them to crypto. similar to dtc in that way. product is already proven out. could even be good businesses but unlikely to be capital S startups
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