4 ms·

Why would you enter a market that requires that much in run-way and think that this is a viable option let alone that could succeed given the current incumbents

Why would you enter a market that requires that much in run-way and think that this is a viable option let alone that could succeed given the current incumbents? >> To answer your question, we enter this industry as completely new-comer. If we know what we know now, we agreed we should have never started this business in the first place. Also we have 0 founder-market fit, and that should be a big reason why no VC funds us.

Melting_Harps 4y ago
> To answer your question, we enter this industry as completely new-comer. So were we, in fact it had never been attempted before because of the aforementioned legal implications, despite the obvious use-case in the MJ Industry--we had to turn them down despite the immense demand from the MJ side because of the legal landscape. I think it's time to have a very serious chat with your team and break-down why this didn't work out and learn from this; but just the monetary outlay needed to make this work is entirely untenable to me. Hopefully you can leverage the skills you learned to use in future projects/jobs, because it seems it's time to cut your losses. > I am wondering if I am being a bad person. 99% of startups fail, and no one is a 'bad person' unless they embezzle funds or back-stab/sabotage their co-founders/team (which sadly happens all the time) in my POV. This is just a reversion to the mean when easy-funding, only possible due to ZIRP, has dried up.
GianFabien 4y ago
>> "If we know what we know now, we agreed we should have never started this business in the first place." You have answered your own question. should never have started this business.
- Melting_Harps 4y ago
  > You have answered your own question. should never have started this business. Listen, I'm sure it sounded like I was attacking you, but that isn't what I wanted to do as I know what I feels like and that never helps. I'm sure you have a lot on your plate right now, and I wanted to just say that these things happen in startup-land, it's not the exception it's the norm you aren't a bad person for that. Internalize and learn from this, but don't let it get you too down after that. Just be honest with yourself and your team and go from there. Starting over is like getting over an intense relationship, in the moment it seems insurmountable, but with time it gets easier to want to try again. Best of luck!

Melting_Harps 4y ago

> To answer your question, we enter this industry as completely new-comer. So were we, in fact it had never been attempted before because of the aforementioned legal implications, despite the obvious use-case in the MJ Industry--we had to turn them down despite the immense demand from the MJ side because of the legal landscape. I think it's time to have a very serious chat with your team and break-down why this didn't work out and learn from this; but just the monetary outlay needed to make this work is entirely untenable to me. Hopefully you can leverage the skills you learned to use in future projects/jobs, because it seems it's time to cut your losses. > I am wondering if I am being a bad person. 99% of startups fail, and no one is a 'bad person' unless they embezzle funds or back-stab/sabotage their co-founders/team (which sadly happens all the time) in my POV. This is just a reversion to the mean when easy-funding, only possible due to ZIRP, has dried up.

GianFabien 4y ago

>> "If we know what we know now, we agreed we should have never started this business in the first place." You have answered your own question. should never have started this business.

Melting_Harps 4y ago
> You have answered your own question. should never have started this business. Listen, I'm sure it sounded like I was attacking you, but that isn't what I wanted to do as I know what I feels like and that never helps. I'm sure you have a lot on your plate right now, and I wanted to just say that these things happen in startup-land, it's not the exception it's the norm you aren't a bad person for that. Internalize and learn from this, but don't let it get you too down after that. Just be honest with yourself and your team and go from there. Starting over is like getting over an intense relationship, in the moment it seems insurmountable, but with time it gets easier to want to try again. Best of luck!