> we were burning $100K/m and making $9K/m in revenue
There's all that needed to be said, right there.
There's all that needed to be said, right there.
The bubble is not in valuations, the bubble is in people's heads - the naive delusion that you can disrupt all aspects of human nature by applying enough technology and holistic ideology.
This. Absolutely this. Superior software/technology has, is, and will lose to crappy stuff from time to time. And here is why... psychology trumps technology. If your technology doesn't align well with psychology then you have an enormous uphill climb to conquer. If your solution requires people to fight their nature, best of luck to you.
It may be true that there are aspects of human nature that can't be disrupted by technology, but the problem is recognising which can and which can't. Often when something fails you don't actually know because it may succeed under slightly different circumstances. The failure of a startup is evidence that there may not be a market for "disrupting human nature" in that domain, but it definitely isn't proof.
It would be fun to spend some time working in a venture backed company since it's so different from the reality I operate in currently.
Even if the model turns out to be grossly incorrect at least you get some idea of critical factors and milestones. And, it's fun! So you update it regularly. Here we are nearing the end of Q2....
It's dead, Jim (unless you can increase that revenue FAST)...