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Behind the Scenes on How A Former Tesla PM Raised $8M for 82 Labs

40 points by justin 8y ago

justin 8y ago
Hello HN! Atrium CEO Justin Kan here. Happy to answer any questions about the article or how Sisun (who is incredibly awesome) ran his fundraising process after coming to one of our free Atrium Scale boot camps.
- nfranchise 8y ago
  How can you pitch what your plan to scale is when your company is only 7 months old?
  - mosaiclifestyle 8y ago
    "Don’t bullshit. You don’t need a perfect business plan to get funded. If your business plan was perfect, everyone would throw money at you. Talk through what you know, share what you don’t know, and explain how you will work towards plugging the gap. Coming up with a vague answer on why your business has perfect defensibility (when it doesn’t) will just make you look like a clown." I think it comes down to seeing the multiple paths towards scale, and not just as silo'ed options or all-in bets. I've often found the overexuberance of other CEOs I've worked under a bit offputting -- up and to the right, and that whole shtick while brushing over the knowledge gaps and ultimately leaving VCs to fill it in themselves. But this is a CPG after all, and not a software company so the aspirational path to scale is probably more linear and over a longer time scale than a company burning cash to bring a product to market.
- deleted 8y ago
  [deleted]
- dami 8y ago
  How do you know an idea is ready to be pitched to investors? Does the Atrium Scale boot camp help with solidifying a problem need and the solution for it
- joeyloi 8y ago
  Do you find major differences in raising for software products vs straight to consumer retail products?
deleted 8y ago
[deleted]
mattysap 8y ago
Amazing story! Very inspiring for any new first time CEO wondering how to navigate their first raise!
dontstopthebeet 8y ago
PM power! PMs are hustlers and it is great to see a former PM navigate his way through raising a round with a mentor like Justin Kan. Love Justin’s real advice like avoiding the SV beauty contest, staying focused on building your business and bringing in investors who will add value rather than add splash.
theplaz 8y ago
The biggest learning I had from this and watching Justin work is to be honest - don’t try to bullshit and pretend you know more than you do. Be honest what you don’t know - but then act quickly to learn what you don’t know and answer those questions.
sisun1030 8y ago
Sisun over here as well :) Learned tons from Atrium Scale as a first-time founder. Happy to answer any questions you have for me.

40 points by justin 8y ago

Hello HN! Atrium CEO Justin Kan here. Happy to answer any questions about the article or how Sisun (who is incredibly awesome) ran his fundraising process after coming to one of our free Atrium Scale boot camps.

nfranchise 8y ago
How can you pitch what your plan to scale is when your company is only 7 months old?
- mosaiclifestyle 8y ago
  "Don’t bullshit. You don’t need a perfect business plan to get funded. If your business plan was perfect, everyone would throw money at you. Talk through what you know, share what you don’t know, and explain how you will work towards plugging the gap. Coming up with a vague answer on why your business has perfect defensibility (when it doesn’t) will just make you look like a clown." I think it comes down to seeing the multiple paths towards scale, and not just as silo'ed options or all-in bets. I've often found the overexuberance of other CEOs I've worked under a bit offputting -- up and to the right, and that whole shtick while brushing over the knowledge gaps and ultimately leaving VCs to fill it in themselves. But this is a CPG after all, and not a software company so the aspirational path to scale is probably more linear and over a longer time scale than a company burning cash to bring a product to market.
deleted 8y ago
[deleted]
dami 8y ago
How do you know an idea is ready to be pitched to investors? Does the Atrium Scale boot camp help with solidifying a problem need and the solution for it
joeyloi 8y ago
Do you find major differences in raising for software products vs straight to consumer retail products?

deleted 8y ago

[deleted]

mattysap 8y ago

Amazing story! Very inspiring for any new first time CEO wondering how to navigate their first raise!

dontstopthebeet 8y ago

PM power! PMs are hustlers and it is great to see a former PM navigate his way through raising a round with a mentor like Justin Kan. Love Justin’s real advice like avoiding the SV beauty contest, staying focused on building your business and bringing in investors who will add value rather than add splash.

theplaz 8y ago

The biggest learning I had from this and watching Justin work is to be honest - don’t try to bullshit and pretend you know more than you do. Be honest what you don’t know - but then act quickly to learn what you don’t know and answer those questions.

sisun1030 8y ago

Sisun over here as well :) Learned tons from Atrium Scale as a first-time founder. Happy to answer any questions you have for me.