35 karma · joined November 29, 2012
This is certainly better than losing the investment completely but I can't imagine the investors being too thrilled about this outcome.
As an analogy, say I had the idea for a car when everyone is still using horses. I raised a seed round to build my car but the funding is only enough to build a car prototype that goes 10mph. At 10mph, there is obviously no product/market fit since horses are still faster and cheaper. However, the prototype proved out the technical challenges, so I know with more capital I'd be able to make a car that can go 80mph, making the horses obsolete. How would your post apply in this case?
“The customers are buying the product just as fast as you can make it — or usage is growing just as fast as you can add more servers. Money from customers is piling up in your company checking account. You’re hiring sales and customer support staff as fast as you can.”
We are actually building a wearable that gives you full hand tracking without the need for line of sight. It's intended for AR/VR applications since it's just as precise as vision based products without all the downsides. But one thing that's personally important to me that we are incorporating into the product is the ability to turn any surface I touch into a trackpad. It basically gives me a portable trackpad anywhere I go and I can sit 10 feet away from my computer and use my leg or arms of the chair to control my computer. I'm curious what kind of usages you need from a product like this.
Anyone know what accounts for the huge price difference between these two?
Meta is trying to achieve this through their AR glasses, which Steve Mann is part of.