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I thought you were kidding with the name of the startup, given its situation. There has to be a word for that kind of irony?
by cdolan 7y ago
I thought you were kidding with the name of the startup, given its situation.
There has to be a word for that kind of irony?
- high_derivative 7y agoHah. I have wondered about this particular one a fair bit. First, it seems there is just not market for their product that could possibly support the valuation in the near future. Second, by virtue of already being so large a company, there is no room for evaluation of new small projects that would change direction. Anything must immediately have enough potential to generate millions in revenue. Runway is maybe 5 years, so they got until then to produce enough revenue to raise more funding or become profitable. IIRC they sold approximately 50% of the company for the 500M round. Maybe I got this one completely wrong, but I just don't see how this can go well. What an incredibly inefficient allocation of capital for the ecosystem. Imagine giving 100 teams 5M each instead.
- leesalminen 7y ago> Imagine giving 100 teams 5M each instead. In 2014 I took $250k as an investment and turned it into ~100x that (in cash) in 2017 with a SaaS product. At the time, VCs said it was “too risky” and so we turned to people in our industry for the investment cash. VCs are funny.
- deleted 7y ago[deleted]
- techslave 7y agojust because you succeeded doesn’t mean it wasn’t risky.
- grepthisab 7y agoRespectfully it may have been above their risk tolerance, and of course you being successful with it doesn't make it a prudent investment. That's the "I won the lottery so everyone should have played the lottery" thing.
- skellera 7y agoAs the other person said, doesn’t mean it wasn’t risky. But also, people in your industry may have been in a better place to assess that risk.
- xR172 7y agoHmm, don’t they also have an enterprise/Defence sector? I imagine that would generate more stable revenue It seems natural that they video games business is pretty spikey in terms of revenue, although it’s worrying there isn’t a AAA game that’s using their technology yet, seems still unproven.
- hummel 7y agoWrong, they never delivered anything to anyone. I got insider sources.
- foobarbecue 7y agoReminds me of https://grift.network https://grift.network
- techslave 7y agoThere has to be. And it has to be in German.
- deleted 7y ago[deleted]
- lonelappde 7y agoIt's an Infinite Improbability Investment Drive, topic of Douglas Adams's next novel.
- Der_Einzige 7y agoThat's what I thought with Soylant but here we are...
- mindfulplay 7y agoA better name for their company would have been Oh, The Irony.