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🦄 There are 1240 unicorns Many of them are struggling to raise $$$ This is the pitch all of them need to memorize and take to their venture capital investors The key after discussing the burn rate is to confidently close with “I don't care" List of all 1240 unicorns here ⤵ https://lnkd.in/eSqahpn
The more fool theory is very resilient.
The way to create this is to, uh, continually shift the goalposts.
Have patience for your greatness. If you have value to offer on this magnitude, the universe presents itself to you. Most individuals allow fear to cloud their vision. Projections of their own inability to excercise self-discipline and accountability, manifest in a desire to control and limit momentum. This 'bad behavior' is more often than not what sinks the lifeboat as we're all trying to get to brighter shores. #dontforgetyouforgot
Value-chain evolution .... when cars were first brought in, hundreds of inventors set up shop in Detroit. An analysis showed that if you invested in any, the chances we're you'd lose $$$. The value shifted when car buyers moved out of inner city to suburbia and resulting property prices. Even if AGI (vaguely defined) is technically deliverable, there is no guarantee the capture and extraction of value will justify the aggregate upfront sunk costs.
We are likely in a bubble. We will know for sure in a few years. Significant amounts of venture capital will be incinerated, and many startups eith commodity technology and unproven business models will fail. But bubbles aren't always a bad thing (dot com bubble didn't mean the internet was overhyped or building network infrastructure was a waste) Progress and learning are what truly matter for society overall and will be valuable for decades to come.
At least he is honest. He really does not care how much money he will burn. Lucky that Microsoft has a lot of money and it‘s better to burn it than create further versions of Microsoft Windows or Office.
This post has nothing to do with India . Indian VCs loves burning money in non-tech companies (Basically they call them tech companies but they never generate any tech in-house). They have a mind set that Indians in India are second grade and can't develop tech. This is funny that when some U.S. company launch a tool they start educating on how to use the tool . Tell me one VC funded tech company who has developed anything new that don't exist in U.S. while in China there are many! They should shame on it. We are not America's extended state . We should have our own existence. If U.S. companies stop supporting, most of such start-up get failed immediately.
Sam is right. It’s not about the money. A company is not about the spend, it’s about the mission. The mission is all that matters.
What about an alternative POV? Raise less than $1M and be paid by customers in close beta to deliver an MVP that is infinitely scalable, only limited by the population of the planet and can cover the bills for the next 120 years without spending $50B on a Wizard of Oz MVP and even if the company with the MVP goes out of business? Further what if that MVP ensures No one can be evil?
Founder, CIO at Birkoa
1wHe would care if he was burning his own $