"Almost to a person, the biggest technology successes were thought of as idiotic at the time, or going after small prizes"
"Almost all great companies go through a desert of disillusionment, where investors decide that they're not worthy of sticking with"
"Almost all great companies go through a desert of disillusionment, where investors decide that they're not worthy of sticking with"
https://twitter.com/patrick_oshag/status/1442824338017816580
Financing Netflix after the dotcom bubble popped
"And the company had not yet achieved cashflow positive. There was not a penny available in the world, much less millions for a consumer facing eCommerce company in the spring of 2001. It really was a post bubble nuclear winter"
"And the company had not yet achieved cashflow positive. There was not a penny available in the world, much less millions for a consumer facing eCommerce company in the spring of 2001. It really was a post bubble nuclear winter"
Fundraising
"We gave 188 presentations around the globe to ultimately raise $100 million, TCV One. But there was incredible stress during that point in time. One of the stresses was people didn't like Crossover. They wanted it either a private fund or a public fund."
"We gave 188 presentations around the globe to ultimately raise $100 million, TCV One. But there was incredible stress during that point in time. One of the stresses was people didn't like Crossover. They wanted it either a private fund or a public fund."
$PTON
"The road is littered with dead carcasses of companies that went after home fitness and failed.
He wanted to control the entire ecosystem. I think by doing so, it created a magical consumer experience, but it was very different from what anybody thought made sense."
"The road is littered with dead carcasses of companies that went after home fitness and failed.
He wanted to control the entire ecosystem. I think by doing so, it created a magical consumer experience, but it was very different from what anybody thought made sense."
Five criteria:
1. Unique value proposition (value, convenience, selection)
2. Tremendous consumer engagement
3. Virtuous cycle to the business/network effect
4. Tremendous execution.
5. Visionary CEO (who probably is a little crazy)
1. Unique value proposition (value, convenience, selection)
2. Tremendous consumer engagement
3. Virtuous cycle to the business/network effect
4. Tremendous execution.
5. Visionary CEO (who probably is a little crazy)
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