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I don't think it has. This was a once in a lifetime kind of thing. My other companies are all innovative technology companies, like you said.

capableweb 4y ago
> Iridium Development - Iridium Development focused on making revolutionary iPhone apps > Distribute- Distribute aimed to be the Alibaba of the US, mostly with wholesale drop shipping. > Materialist - an e-commerce solution, [...] trying to bring wholesale housing products to market. > Dave - personal financial management app > Vizit - Image Analytics > txtsmarter - Communications Surveillance Service We might have different opinions on what counts as "innovative" I guess.
- gsibble 4y ago
  I really don't think personal attacks are called for. Only Iridium was my company, which built a pretty unique app that was featured in the App Store in its very first year (of the App Store). You conveniently left out Omnivore.io, the only other company I built. Ask anyone in the restaurant industry in the US what it is. All the rest were just employers. edit: Since I can't reply below: Omnivore was the first company that offered API access to over 80% of the installed point of sale systems in the US, including direct injection of web orders into the POS instead of needing a tablet next to the POS with manual order entry. We allowed over 1,000 partner companies to bring unique and innovative solutions to the restaurant space. Thanks for not reading my LinkedIN profile, just what sector my company was in.
  - capableweb 4y ago
    Ah, sorry... > Omnivore - PoS + hospitality services Definitely haven't been done before, you got me there :) > I really don't think personal attacks are called for. I don't think it's a personal attack, you brought up "My other companies are all innovative technology companies" so I was curious to see what you consider "innovative", thought others might be curious too, so listed what I found here.
    - deleted 4y ago
      [deleted]
    - gsibble 4y ago
      Omnivore was the first company that offered API access to over 80% of the installed point of sale systems in the US, including direct injection of web orders into the POS instead of needing a tablet next to the POS with manual order entry. We allowed over 1,000 partner companies to bring unique and innovative solutions to the restaurant space. Thanks for not reading my LinkedIN profile, just what sector my company was in.
    - zamnos 4y ago
      You don't think adding > We might have different opinions on what counts as "innovative" I guess. might have made it seem like you were doing more than "simply listing" what you found? We might have differing opinions on what constitutes a personal attack, I guess.
      - gsibble 4y ago
        Thank you.
  - anonymouskimmer 4y ago
    > edit: Since I can't reply below: For brand new comments that you want to comment on you want to click on the timestamp and comment from there. Otherwise you have to wait a couple of minutes.
    - gsibble 4y ago
      Got it. Thanks.
- deleted 4y ago
  [deleted]
rexreed 4y ago
Just want to say that as a startup founder, running tech companies for the past many decades, this post makes me sad, not grateful or joyous. It makes me feel like there's plenty of money on the sidelines to fund $300M+ at-a-whim larks to bail out Startup founders who are mostly going to go bust anyways (those are just the facts of startup life), but meanwhile startup founders outside of that bubble can't raise a penny and go bust / layoff anyways. Layoffs.fyi tracker hasn't been slowing down. So it's just a feeling, but it's not of happiness - it's of profound sadness and disappointment.
- chernevik 4y ago
  Then you aren't getting the concept. This isn't equity funding for a business idea. It's basically buying a claim on a bank in receivership. It doesn't matter if that claim is held by nextbigthing.com or Apple. Those claims are backed by SVB's portfolio of T-bonds and MBS so they are very solid. The benefit to users is acceleration of receipt and certainty. It's hardly a lark. The OP was planning to target this offering to startups, which are only fraction of SVB's depositor base. Someone saw their community in distress and thought to use their connections to put together a solution, for a modest profit. Sounds fine to me.
  - rexreed 4y ago
    I understand the concept of this particular fund raise / action. I totally get it. You don't understand my sadness. The money is there from wealthy individual investors to rescue SVB depositors who might miss a payroll or otherwise risk solvency, but it's not there to rescue other startups who are already going bust. Amazing that $300M just can appear like that over a weekend to save startups in one case, and yet doesn't exist in the other case. And it makes me sad. It's a feeling, and you might feel joy or even excitement. But I feel sadness, and that's just how I feel.
    - chernevik 4y ago
      These seem to me very different cases but of course you have a right to your own take

capableweb 4y ago

> Iridium Development - Iridium Development focused on making revolutionary iPhone apps > Distribute- Distribute aimed to be the Alibaba of the US, mostly with wholesale drop shipping. > Materialist - an e-commerce solution, [...] trying to bring wholesale housing products to market. > Dave - personal financial management app > Vizit - Image Analytics > txtsmarter - Communications Surveillance Service We might have different opinions on what counts as "innovative" I guess.

gsibble 4y ago
I really don't think personal attacks are called for. Only Iridium was my company, which built a pretty unique app that was featured in the App Store in its very first year (of the App Store). You conveniently left out Omnivore.io, the only other company I built. Ask anyone in the restaurant industry in the US what it is. All the rest were just employers. edit: Since I can't reply below: Omnivore was the first company that offered API access to over 80% of the installed point of sale systems in the US, including direct injection of web orders into the POS instead of needing a tablet next to the POS with manual order entry. We allowed over 1,000 partner companies to bring unique and innovative solutions to the restaurant space. Thanks for not reading my LinkedIN profile, just what sector my company was in.
- capableweb 4y ago
  Ah, sorry... > Omnivore - PoS + hospitality services Definitely haven't been done before, you got me there :) > I really don't think personal attacks are called for. I don't think it's a personal attack, you brought up "My other companies are all innovative technology companies" so I was curious to see what you consider "innovative", thought others might be curious too, so listed what I found here.
  - deleted 4y ago
    [deleted]
  - gsibble 4y ago
    Omnivore was the first company that offered API access to over 80% of the installed point of sale systems in the US, including direct injection of web orders into the POS instead of needing a tablet next to the POS with manual order entry. We allowed over 1,000 partner companies to bring unique and innovative solutions to the restaurant space. Thanks for not reading my LinkedIN profile, just what sector my company was in.
  - zamnos 4y ago
    You don't think adding > We might have different opinions on what counts as "innovative" I guess. might have made it seem like you were doing more than "simply listing" what you found? We might have differing opinions on what constitutes a personal attack, I guess.
    - gsibble 4y ago
      Thank you.
- anonymouskimmer 4y ago
  > edit: Since I can't reply below: For brand new comments that you want to comment on you want to click on the timestamp and comment from there. Otherwise you have to wait a couple of minutes.
  - gsibble 4y ago
    Got it. Thanks.
deleted 4y ago
[deleted]

rexreed 4y ago

Just want to say that as a startup founder, running tech companies for the past many decades, this post makes me sad, not grateful or joyous. It makes me feel like there's plenty of money on the sidelines to fund $300M+ at-a-whim larks to bail out Startup founders who are mostly going to go bust anyways (those are just the facts of startup life), but meanwhile startup founders outside of that bubble can't raise a penny and go bust / layoff anyways. Layoffs.fyi tracker hasn't been slowing down. So it's just a feeling, but it's not of happiness - it's of profound sadness and disappointment.

chernevik 4y ago
Then you aren't getting the concept. This isn't equity funding for a business idea. It's basically buying a claim on a bank in receivership. It doesn't matter if that claim is held by nextbigthing.com or Apple. Those claims are backed by SVB's portfolio of T-bonds and MBS so they are very solid. The benefit to users is acceleration of receipt and certainty. It's hardly a lark. The OP was planning to target this offering to startups, which are only fraction of SVB's depositor base. Someone saw their community in distress and thought to use their connections to put together a solution, for a modest profit. Sounds fine to me.
- rexreed 4y ago
  I understand the concept of this particular fund raise / action. I totally get it. You don't understand my sadness. The money is there from wealthy individual investors to rescue SVB depositors who might miss a payroll or otherwise risk solvency, but it's not there to rescue other startups who are already going bust. Amazing that $300M just can appear like that over a weekend to save startups in one case, and yet doesn't exist in the other case. And it makes me sad. It's a feeling, and you might feel joy or even excitement. But I feel sadness, and that's just how I feel.
  - chernevik 4y ago
    These seem to me very different cases but of course you have a right to your own take