5 ms·

How do companies like this get funding? Do they get it before even having a prototype?

by endofreach 3y ago

qingcharles 3y ago
Walk into VC meeting, say "LLM", collect cash... profit?
Hamuko 3y ago
I assume by selling products to customers.
- endofreach 3y ago
  Its serious question. I am stuck in a loop of taking clients money to bootstrap my startup but i need much more to pay a few other engineers to show companies like these that they produce garbage. Even apple is running in the totally wrong direction. Until now i was under the impression i'd need to hustle more to earn cash & build the prototype. But that won't be fast enough. I can't watch people that just don't get it but try to imitate apple (website, keynote, lol) with just some bullshit. The more i watch from the sidelines, the more i am reassured that we are building something incredible that nobody sees coming. But we are not located in the EU, not the US. So i am not sure what i should do.
  - com2kid 3y ago
    The founder launched a product previously, which means he has a track record of leading an engineering team to success. > But we are not located in the EU, not the US. So i am not sure what i should do. Keep the team in the EU, founders move to US, become a global remote company, raise funding in the US.
deleted 3y ago
[deleted]
canucker2016 3y ago
Experience in the domain. They must have had a prototype to get their initial $20M funding (Oct 4) as well as another $10M announced 10 weeks later (just 3 weeks ago). see https://www.rabbit.tech/updates/rabbit-raises-20m https://www.rabbit.tech/updates/rabbit-raises-20m and https://www.rabbit.tech/updates/rabbit-raises-additional-10m https://www.rabbit.tech/updates/rabbit-raises-additional-10m But the actual rabbit device in the keynote could have come later. The cloud backend including the LLM is independent of the rabbit device. They could've demo'ed an app on an iPhone to show the VCs - there's nothing rabbit-device-specific that an iPhone or Android phone couldn't do.

How do companies like this get funding? Do they get it before even having a prototype?

qingcharles 3y ago

Walk into VC meeting, say "LLM", collect cash... profit?

Hamuko 3y ago

I assume by selling products to customers.

endofreach 3y ago
Its serious question. I am stuck in a loop of taking clients money to bootstrap my startup but i need much more to pay a few other engineers to show companies like these that they produce garbage. Even apple is running in the totally wrong direction. Until now i was under the impression i'd need to hustle more to earn cash & build the prototype. But that won't be fast enough. I can't watch people that just don't get it but try to imitate apple (website, keynote, lol) with just some bullshit. The more i watch from the sidelines, the more i am reassured that we are building something incredible that nobody sees coming. But we are not located in the EU, not the US. So i am not sure what i should do.
- com2kid 3y ago
  The founder launched a product previously, which means he has a track record of leading an engineering team to success. > But we are not located in the EU, not the US. So i am not sure what i should do. Keep the team in the EU, founders move to US, become a global remote company, raise funding in the US.

deleted 3y ago

[deleted]

canucker2016 3y ago

Experience in the domain. They must have had a prototype to get their initial $20M funding (Oct 4) as well as another $10M announced 10 weeks later (just 3 weeks ago). see https://www.rabbit.tech/updates/rabbit-raises-20m https://www.rabbit.tech/updates/rabbit-raises-20m and https://www.rabbit.tech/updates/rabbit-raises-additional-10m https://www.rabbit.tech/updates/rabbit-raises-additional-10m But the actual rabbit device in the keynote could have come later. The cloud backend including the LLM is independent of the rabbit device. They could've demo'ed an app on an iPhone to show the VCs - there's nothing rabbit-device-specific that an iPhone or Android phone couldn't do.