310 karma · joined March 3, 2020
Our TAM is $12 Billion, expected to reach $32 billion by 2025. It is a large, fast-growing market. We can definitely be a unicorn. But I have to dwell some more on the question of ecosystems and crowd dynamics.
Our MVP worked fine. In fact we were reviewed by the BBC last year. It's our new version that isn't ready yet. Our chip supplier has asked us to order 6 months ahead. We do have the BOM and the hardware files at this point. We are at the point of getting our prototype boards manufactured. But the state of the world is definitely a challenge.
We would like to take preorders for two reasons: firstly to convince VCs that there is a market, and secondly to gauge how many chips we need to order.
Thank you for helping me think this through. I am beginning to see some upsides to crowdfunding even though I am turned off by how manipulated it has become (with paid backers, etc.)
The idea behind taking preorders is to convince VCs that we have a market. They can get on TikTok and read the comments asking for our products, but I don't think that's going to convince them. Hence the need to have pre-orders.
Any idea how many pre-orders is enough to validate a new hardware product? The MSRP is $200.
But you have given us something to think about.
And yet... we have discovered that it's true what they say: hardware is hard. More than that: it's expensive.