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This is too bad... I would be very interested in something like this. I'd be curious about more details as to why it failed as a business. Were its costs too hi
by api 11y ago
This is too bad... I would be very interested in something like this. I'd be curious about more details as to why it failed as a business. Were its costs too high? I wonder if it was more or less a victim of the insanely high real estate prices in SF and NYC and whether it might have been more successful elsewhere.
- danieltillett 11y agoI would say it was the standard reason which is the margins are too low (because of competition and then need for large amounts of human labor) to support a tech start-up valuation. There are lots of potential businesses that have high demand, but you just can’t make money from them. It is relatively easy to build a business that customers love, what is really hard is to build a business customers love AND are willing to pay a premium to use AND which can be monopolized so your margins are not eroded by competition. These are rarer than unicorns.