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Raising $1B pre-launch is worthy of criticism
The mistakes startup founders make are usually characteristic. Nontechnical founders think they can win through marketing. Technical founders get obsessed with solving interesting problems instead of users' problems. And magnates raise too much money.
Well said Sir!
I wouldn't invest in already rich first time founders, personally. They have too little to lose and not enough founder experience, for which I know of no substitute.
Applauding this perspective.
So is the ideal co-founder pair one that is one half technical and one that brings domain expertise about the industry the startup is tackling?
Agree w/ all of the above. But here, did JK and MW people really take on the same risks and process as other entrepreneurs? Their investors took on a disproportionate amount of risk. Root for all startups but it’s OK to point out when a startup’s unfair advantage is fundraising.
I agree it’s tough. When I first saw their app I thought it was brilliant, the way it worked and the content was exciting. But as soon as I saw the subscription fee at £7.99 I knew it would never make it. They should have come in low and grown their audience.
Interesting point but you have two domain experts there. Meg Whitman from a technical perspective and Jeffery Katzenberg from a content perspective. What seems lacking is any market discovery for the format they focused on. $1B is an huge amount to be taking such risks
There's an algo for that.
So why not encourage creative founders and tech founders to unite?
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