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[Wall Streeters turned venture capitalists] are people who do dumb shit like ask about pricing for a premium version of a genuinely novel product (in a category
by bwh2 17y ago
[Wall Streeters turned venture capitalists] are people who do dumb shit like ask about pricing for a premium version of a genuinely novel product (in a category with no existing market) that hasn't even launched yet...in the first meeting.
Right, because asking about pricing (you know, the process by which you charge actual money for a product, thus generating revenue and hopefully profit) is a completely unreasonable thing for an investor to ask about.
- pchristensen 17y agoWhen the product hasn't launched and there's no existing market, the questions should be around finding customers, distribution, and technology risks.
- MediaSquirrel 17y agoI agree that focusing on the biz model is important, but determining price pre-supposes finding product-market fit. Real discussion should be around that.