Sourcery

John Coogan, EIR at Founders Fund, Founder of Soylent & Lucy

16 snips
Jul 24, 2024
Guest
John Coogan
John Coogan, an entrepreneur in residence at Founders Fund and co-founder of Soylent and Lucy, shares his fascinating journey through the startup world. He discusses the evolution of Soylent and the lessons learned from early failures to viral success. Diving deep into the complexities of nicotine products, he highlights misconceptions and regulatory challenges. Coogan emphasizes the importance of storytelling in marketing and authentic consumer engagement, while offering a fresh perspective on navigating the VC landscape.
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ANECDOTE

From Broke YC Hack To Viral Food Brand

  • Soylent began as broke YC founders experimenting with a complete meal shake to save money and went viral after a provocative blog post.
  • The viral launch drove huge early demand, mainstream press, and rapid revenue growth before operational mistakes and over-raising hurt outcomes.
INSIGHT

Regulation Creates Late-Mover Moats

  • The nicotine alternative market became attractive because regulation would soon raise barriers to entry and create oligopolistic economics.
  • Starting in 2016 let Lucy build product and distribution before the regulatory door closed to new entrants.
ANECDOTE

Watching A Rocket Ship Early On

  • John recounts watching Juul's early team call it the most insane rocket ship they had seen and how many early employees became wealthy.
  • The company reached huge valuations and an Altria stake, illustrating both financial upside and later regulatory pain.
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