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> Summary: They are vulnerable - Get 'em Or, go get $55 Million in VC funding from someone else. You have a major head start. Your company is theoretically wo
by mkolodny 8y ago
> Summary: They are vulnerable - Get 'em
Or, go get $55 Million in VC funding from someone else.
You have a major head start. Your company is theoretically worth at least as much as theirs.
Complaining about competitors copying you might slow them down a bit. But it will probably slow you down a lot more. On the other hand, using their valuation to raise $55M+ would be a huge boost for you.
- brk 8y ago"Your company is theoretically worth at least as much as theirs." Maybe. Having worked in the auto industry (albeit well over a decade ago), it is one of those industries where connections, and knowing how to navigate the relationships, goes a long way. I don't know much about either of these companies, or their founders, but in B2B scenarios like this, the value is often related to much more than just the underlying technology. If I were Smartcar, I would look closely at relationships, physical and virtual proximity to major automotive players, and how their suppliers prefer to do business. And, perhaps they already have...
- taurath 8y agoThe fact that in-car tech is so bad in general is a good indicator that the auto industry is a relationship industry. Its a golf course based business, and building the tech is the "easy" part. See also: the payments and especially credit card space - if you don't start up with the backing of a major player your entire business hinges on bus-dev and exec relationships to convince the incumbents to let you play in the space.