Road to Decacorn

  "What is 'Product-Market Fit' ( #PMF )? Foremost, we must not confuse PMF with Problem-Market Fit (aka Problem-Solution Fit). Problem-Market Fit is "achieved when you had identified the critical pain points suffered by your target #customer segment and solved them by your product/ #solution offering, through deliberate process of #experimentation and #validation ." PMF is when “a #product being so attractive to a significant number of customers in a large #market that they recognise the problem it was intended to solve and feel compelled to purchase the product" , as coined by Andy Rachleff of Wealthfront. Once you have PMF, you can start to focus on hiring, getting more customers, finding customer #acquisition channels, optimizing #pricing , and so on. In reality, there’s usually not a sharp line of demarcation that separates the "before" from the "after". Rather, companies typically increase their level of PMF gradually. Read ar...

  Related :  Network Effect and Metcalfe’s Law

Funders want to look at the founders. Founders who can weather the storm, who can deal with whatever comes your way. Because even the best business model breaks in this current situation. 1. Founders Who Can Go Digital 2. Founders Who Can Collaborate, Consolidate & Converge 3. Founders Who Can React Fast To Situations 4. Founders Who Can Make Painful Decisions 5. Founders Who Know When To Go Back To Basics You want see if the founders can go out and save the company, raise money, and at the same time cut costs. We’re looking at all these things. To a founder, if you exit at RM30 million you’re fine, but to us, you’re a failure. So when we decide between yes or no, sometimes the founders don’t understand. It’s a time to go back to basics in defining who your customers are. Really think about what real problems the business is trying to solve . We want to see quantitative measurement metrics to prove that a product is viable . You need to be self aware, you need to know what you are ...

Much will appear the same for the consumer, but money could be fundamentally different. The implications of using a CBDC by a government for purposes other than for “good” should give us pause. With a country’s ability to create incentives through programmable money and to keep track of digital transactions, deep moral and ethical implications will arise.  Inevitably, legislation, rules and regulations will likely be debated and created to balance the privacy and potential power of programmable currency.  Given the speed at which countries are implementing CBDCs, perhaps the time for that debate is NOW. https://cointelegraph.com/news/central-bank-digital-currencies-have-the-power-to-upend-global-finance

 

  The slide deck we used to raise half a million dollars from Buffer

Funding Rounds Journey Mistakes to Avoid Notes: Term sheet - investment savvy lawyer Series A - <50% to investors Angel / seed - convertible note, valuation on hold - validation / market engagement Waterfall analysis - participants right / entitlement Investment instrument, 债源 (defi)  LP, quantitative tracking Internal Rate of Return - Net Present Value - appreciation value - interest rate FB Mark - Voting shares - Determining shares