Startups are subject to something like infant mortality: before they're established, one thing going wrong can kill the company. Hardware companies seem to be subject to infant mortality their whole lives.
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You offer what the hardware is meant to provide customers, as a service. Video cameras for example provide video surveillance, so offer a video surveillance service for a monthly fee, and then you monitor and ensure the functioning of the hardware, and replace cameras as needed.
Yes, this seems like a good solution. In effect you are your own customer. Arguably Google was (still is?) a hardware company of this type with their cheapo home-made servers.
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Tesla is the best example here. Ships hardware once, and make improvements through software. I almost always hardware startups to giveaway the hardware and charge for a service under a Saas play.
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Not exactly; with Tesla the consumer is still buying the hardware up front and own's the hardware. Imagine paying
@Tesla for a monthly car rental, and if it breaks they swap out a new model same day. Transportation as a service, but unlike Uber, it's in your garage. - Show replies
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Hardware companies should be able to evolve to this as they mature; they know the value end users derive from use (where you can extract margin by delivering that use case as a service), and deeply know the hardware spec and tech limits, to accurately model replacement cycles.
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Thanks Cory for sharing your opinions. Running a hardware company, I can relate to this. Having foresight into user needs where they use our product as service is a massive competitive advantage and gives us more probability of survival.
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Yep, instead of shipping hardware, remaining responsible for that hardware in a circular economy way
Thanks. Twitter will use this to make your timeline better. UndoUndo
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What did you like about the pebble; the form factor, or the UI? I would suggest that all hardware is destined to devolve to the cheapest generic, but the software delivering the content and experience is where its possible to really differentiate and drive returns
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