4 ms·

Those 126K spent on "App development". Plenty of money in CRUD APIs apparently.

by ly3xqhl8g9 4y ago

jrochkind1 4y ago
Software development is much more expensive than people predict, including software developers. Let's say you're paying $200/hour to a software consultancy -- which isn't as much as it sounds, the engineers doing the work will not be making anything close to HN-bragging-level of take-home at that rate, although they'll be doing okay. 120,000 is 600 hours of work at $200/hour billed. So that might be two engineers working about 8 weeks. Does two engineers working 8 weeks seem so crazy for developing a novel app, full-stack from back-end to design? Not at all. Software is expensive. Which means, sure, there's plenty of money in developing it!
- ly3xqhl8g9 4y ago
  Sure. Nevertheless, the "App development" budget for a startup with no users/clients should be $0, otherwise it's not a start-up, but more of a start-middle.
  - jrochkind1 4y ago
    For sure you don't want to spend that kind of money without customers/clients yet. The problem with a software-based startup is... software development is expensive. Not that contractors will rip you off charging too much for shoddy work -- although that happens, software is expensive even when it doesn't. If you are paying a consultancy for the software development, you should probably plan on spending six figures in consultancy invoices to even get an MVP -- if you mean an actually working app by "MVP". That's not a lot at all. So... up to you to figure out how to verify your business model before you do that (with an "MVP" that isn't actually a working app yet perhaps), or have a business plan that accommodates it.
pc86 4y ago
At least 70K spent on development before a penny in bookings - and probably closer to 100K given the relative 2020 vs. 2021 bookings. Absolutely insane, and it's no wonder this guy lost almost a quarter million.

4 ms·

Those 126K spent on "App development". Plenty of money in CRUD APIs apparently.

by ly3xqhl8g9 4y ago

Those 126K spent on "App development". Plenty of money in CRUD APIs apparently.

jrochkind1 4y ago
Software development is much more expensive than people predict, including software developers. Let's say you're paying $200/hour to a software consultancy -- which isn't as much as it sounds, the engineers doing the work will not be making anything close to HN-bragging-level of take-home at that rate, although they'll be doing okay. 120,000 is 600 hours of work at $200/hour billed. So that might be two engineers working about 8 weeks. Does two engineers working 8 weeks seem so crazy for developing a novel app, full-stack from back-end to design? Not at all. Software is expensive. Which means, sure, there's plenty of money in developing it!
- ly3xqhl8g9 4y ago
  Sure. Nevertheless, the "App development" budget for a startup with no users/clients should be $0, otherwise it's not a start-up, but more of a start-middle.
  - jrochkind1 4y ago
    For sure you don't want to spend that kind of money without customers/clients yet. The problem with a software-based startup is... software development is expensive. Not that contractors will rip you off charging too much for shoddy work -- although that happens, software is expensive even when it doesn't. If you are paying a consultancy for the software development, you should probably plan on spending six figures in consultancy invoices to even get an MVP -- if you mean an actually working app by "MVP". That's not a lot at all. So... up to you to figure out how to verify your business model before you do that (with an "MVP" that isn't actually a working app yet perhaps), or have a business plan that accommodates it.
pc86 4y ago
At least 70K spent on development before a penny in bookings - and probably closer to 100K given the relative 2020 vs. 2021 bookings. Absolutely insane, and it's no wonder this guy lost almost a quarter million.