More or Less #10: You should kill your startup, What replaces globalization
8 snips
Aug 18, 2023 The hosts discuss when companies should quit, reminisce about failed investments, and debate U.S.-China tech policy. They also explore the potential ban on TikTok, the power of quitting, and the changing landscape of venture capital. The podcast touches on storage services, surviving startups, and the trade imbalance between atoms and bits. They express excitement about artificial intelligence and express gratitude to the audience.
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Higher Bar For Startup Success
- VCs now demand clear product-market fit with tangible customers, revenue, and growth metrics.
- Story-driven pitches that once cleared Series A no longer suffice in a higher-rate environment.
Buttons For Everything Era
- The panel reminisced about the era of “buttons for things” like Banner Man and delete apps that promised on-demand physical services.
- Many of those startups felt inevitable then but didn’t sustain product-market fit.
Quit To Preserve Optionality
- If your startup is marginal and burning cash, consider folding to redeploy talent into better opportunities.
- Stop giving false hope with endless rope; quitting early preserves optionality.