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Back from SF and Boston. I met with 15+ founders in the field of manufacturing across all stages. Here are my honest takeaways and hypothesis:
1) There is a feeling of disillusionment among investors. A lot of money went into autonomous driving, drones, manufacturing - yet not so much has happened and development is slower than expected.
2) There are very, very few - if any - companies that follow T2D3 logic (triple twice, double three times). Initial time to PMF and revenue growth takes on average more time than for traditional SaaS companies. I covered that here: medium.com/point-nine-new…
3) I think many companies can become profitable and successful businesses but not the outliers which are required for VCs. For many founders, it would be probably better not to raise from VCs if they can. See also:
4) Many incredible smart engineers and researchers are working on very hard technological problems. It's really amazing with what they come up with. However, doesn't mean that these will become great businesses. It's tough.
5) It's not extremely hard to raise a seed round at the moment, i.e. early stage investors are excited about founders + opportunity + some early traction / pilots. The main challenge will be raising a Series A and B. See here: venturebeat.com/2019/01/22/ind…
6) Overall, there is a lot to win and a lot to lose - Europe has to play offense and not defence in order to ensure we maintain our place at the global table as @benblume puts it here: medium.com/point-nine-new…
