My startup is failing

Emberburn
Emberburn

My startup is failing.

We raised $500k three years ago, even though we weren't profitable.

The funds are now quickly coming to an end, and it's quite clear that we won't ever be profitable.

Everyone seems to be taking this as a successful experiment ("we learned market wasn't ready") but to me it's also a big failure. I can't even humor the idea of getting a 'normal' job i.e. working for someone else.

I'm probably going to spend the last few months enjoying the lifestyle, not having to report to anyone, the great company culture, turning up at 11am and working in the middle of the night.

Also drinking. I've been drunk every day for the last two weeks.

All urls found in this thread:
https://en.wikipedia.org/wiki/Sunk_costs
SniperWish
SniperWish

@Emberburn
just raise more funds and this time funnel it into your bank account properly :^)

RavySnake
RavySnake

So, no question? No initiation for a discussion?

Just a blog post? Sage goes in every field.

WebTool
WebTool

@Emberburn
I cant even humor the idea of getting a normal job

Im going to spend the last few months enjying the lifestyle

I've been drunk every day for the last two weeks.

I think I have spotted the problem, here.

BlogWobbles
BlogWobbles

nice blog, but where do I subscribe?

LuckyDusty
LuckyDusty

Whats your startup?

Stop coming in at 11am and leaving at 1am.

Come in at 8am and leave at 1 am.

Can you prove to any investors the market isn't ready? Functioning for 3 years is an asset.

AwesomeTucker
AwesomeTucker

@Emberburn
We raised $500k three years ago, even though we weren't profitable.

Nigga what part of

profits = sales - costs

do you not understand?

JunkTop
JunkTop

@SniperWish

There were plenty of dubious 'expenses' being paid, that's one of the reasons why most of the money went so quickly. That, and salaries. Jesus humans cost so much.

@RavySnake

What is your opinion of me?

@WebTool

I only started drinking recently. We worked very hard usually. We'd stay up all night coding, getup early to visit customers, and spend the next day jotting down ideas for what to do next. The lifestyle was great because if one day we wanted to come in and have an office party and order pizza, we could.

@LuckyDusty

Augmented reality. We wanted it to become a big part of online shopping. The truth is it's mostly a gimmick at the moment, too early to do anything useful with it. But mainly nobody is willing to pay for it.

GoogleCat
GoogleCat

@AwesomeTucker

We had created the startup in our spare time out of our own homes. We didn't have any sales but we pitched the idea, people liked it, we wrote a business plan, developed the product a little more and got funded. I don't understand what you're trying to say.

Need_TLC
Need_TLC

@Emberburn
what industry you guys in?

Booteefool
Booteefool

@Emberburn
What went wrong buddy? If someone gave you more money would it become profitable eventually? Or is something fundamentally wrong with the business?

Harmless_Venom
Harmless_Venom

@JunkTop
My opinions is that you might fall and get stuck into a depression pit. Stop drinking.

Try and move away from the sunk costs and carry on with something else:

https://en.wikipedia.org/wiki/Sunk_costs

Lord_Tryzalot
Lord_Tryzalot

@JunkTop
Augmented reality
Yeeaahh...how exactly were you pulling this off because that was probably your first problem

Boy_vs_Girl
Boy_vs_Girl

@Need_TLC

Augmented Reality.

@Booteefool

Probably not. I think we've established pouring money into this product/market is not a good idea. We could pivot, but it's too late.

girlDog
girlDog

@Lord_Tryzalot

It probably because we built this 'cool' demo that showed how you could go into a shop or online website and basically try things out in your own home as though you had bought them. Use cases were interior design and fashion initially.

happy_sad
happy_sad

@Boy_vs_Girl
Probably not. I think we've established pouring money into this product/market is not a good idea. We could pivot, but it's too late.

If that's the way you think, then give up on it. You must've had more than one business idea up til today, right? Work on it while working part-time.

SomethingNew
SomethingNew

@Emberburn
Back to posting frogs nigger

TreeEater
TreeEater

@girlDog
Forgive me if I sound like a dick but who were your targets? I can't think of a market where someone wants to pretend to shop

New_Cliche
New_Cliche

@Emberburn
Pivot, pivot mother fucker!
Failure is a habit, if you do it once, you'll do it again

Nojokur
Nojokur

@girlDog
That idea is a gimmick that would never work out realistically. Were you making 3D models of each and every store?

How in the hell did you raise $500k!? Which idiot gave you the most money? Why didn't you settle with making a mobile game, they're VERY easy to make yet no one puts effort into them - you could've sunk that $500k into one and made something great. Hell if I had that I would open a convenience store and write manga for the rest of my life and make some doujinshi to give back to the community.

Need_TLC
Need_TLC

@Nojokur
Go back to /a/ fucking weaboo

Garbage Can Lid
Garbage Can Lid

@Need_TLC
At least I have dreams.

farquit
farquit

@Nojokur
The investor was gambling, he thought vr would take off and he would have something everyone wanted.

Obviously not a very technical person, since vr itself is pretty meh and, as op said, it's a gimmick. Every store would have to pay a fortune for 3d models.

hairygrape
hairygrape

@Nojokur
Ikea is doing what OP tried to do; interior design using AR via image projection -- their catalog app can show furniture as other pieces of Ikea furniture. Wayfair also has an interior design app in the works using VR headsets.

It doesn't seem like there's NO market for these, it was probably just a matter of finding people and doubling down on them.

Snarelure
Snarelure

Augmented reality is literally on the verge of taking off now that Pokemon Go has set a precedent. Already in just a couple of months the technology has transitioned from oddity to commonplace. It would be a shame if you pulled out now.

Burnblaze
Burnblaze

@girlDog
So like, map out my shitty house, and try on curtains and carpets and such?

SniperGod
SniperGod

businesses made by people without financial knowledge

RavySnake
RavySnake

@girlDog
Last time I went to buy a house they showed me how it was going to be in VR (shitty Android phone VR).

LuckyDusty
LuckyDusty

@Emberburn
why not join another startup? you have experience now and that experience will be valuable to newbies.

AwesomeTucker
AwesomeTucker

Fucking nu-male startup cucks spending all their investor's money on pizza and bean bag chairs

Despise this culture tbqh

Soft_member
Soft_member

@Emberburn
being lazy unorganized piece of shit
expecting to succeed with startup

Bidwell
Bidwell

@Emberburn
Liquidate and repeat.

Sounds like you got paid for three years.

Structure the next one better, get paid better.

What's the problem?

Poker_Star
Poker_Star

@JunkTop
no one willing to pay for it

Check out WayFair.com; They're developing a similar platform currently. Although they speak of having no intention of rolling it out for at least 5 more years. I think that industry is more R&D for big companies currently, or at least contracts with big companies.

What was your company's goal? Get bought out by Google?

Carnalpleasure
Carnalpleasure

@Emberburn
Who cares? If it failed, it failed, take a vacation, look back and understand what went wrong and start another one.

Need_TLC
Need_TLC

@Snarelure
This. I have this groundshaking AR idea, just building some capital over another project to invest into it. AR is coming big.

Garbage Can Lid
Garbage Can Lid

@GoogleCat
created the startup
in our spare time

there you go. go big or go home.

Bidwell
Bidwell

@girlDog
I think this sounds like a great idea. It'd be nice to get to decorate my house without actually leaving said house and going to the store. This will probably be a thing in the next 10-15 years. Maybe the technology is not ready yet?

boo.com went bust too, and look at online shopping today, 15 years later.

Inmate
Inmate

If you were ahead of the curve on this kind of thing, why didn't you play for royalties instead of going down a narrow route to market?

Take your experience and start again with something else.

Deadlyinx
Deadlyinx

@Emberburn
Write a comprehensive guide on how you raised the capital and shill it all over the internet. I'd pay 19.99 if it was legit.

Supergrass
Supergrass

Sounds like depression fammyfam. You can cure it by not being a loser.

MPmaster
MPmaster

@Emberburn
Move on to another project.

You know what happened when I found out my dog died? It kinda sucked because I poured a lot of money and time into that dog and it just went up and died on me. That's your start-up. No one becomes an alcoholic because their dog died.

Stop being a pussy and go get a new dog.

Methnerd
Methnerd

@Deadlyinx
medium is full of them

Spazyfool
Spazyfool

@Emberburn

What do the investors think?

Legally there is probably fuck all they can do, but I bet they are pissed.

ZeroReborn
ZeroReborn

@Snarelure
@Bidwell
this. perhaps you were too early. honestly, you could try raising more money and keep at it, couldn't you?

Deadlyinx
Deadlyinx

@Spazyfool

Legally

As if they would take you to "legal" court, jeje

TurtleCat
TurtleCat

@AwesomeTucker
The investors were the real cucks here. 500k isn't enough to implement this idea, not by a long shot

Sir_Gallonhead
Sir_Gallonhead

@Emberburn
Why here??? just to piss and moan??
no question or commentary, just crocodile tears... you have to proactive in life. if your not breaking e figure out why, and fix it....
you had to have seen profitability as an option, or you wouldn't have started business.

happy_sad
happy_sad

@JunkTop
theres literally almost no augmented reality devices on the consumer market.

I'm actively anticipating the release of microsofts hololense to be the forerunner to AR much like the occulous rift has been to VR

even so, both VR and AR are still in their infancy at best, we have a good decade or two before either technology is actively accepted into the masses and becomes a standard of living (like computers, the internet, smartphones, etc)

At that point various forms of marketing within these technologies will be HUGE, but yeah, it's just a gimmic for now.

how the fuck you didn't realize that I have no idea

haveahappyday
haveahappyday

@Emberburn
probably too much bad debt...

have you tried reading Rich Dad, Poor Dad?

w8t4u
w8t4u

@Emberburn
Augmented reality. We wanted it to become a big part of online shopping. The truth is it's mostly a gimmick at the moment, too early to do anything useful with it. But mainly nobody is willing to pay for it.

This is your problem. your trying to create an entire industry with small business capital. when developing and then marketing new technology, you need millions....

if i were you... i would try to sell to google or amazon ... use money to start a more liquid small business... exe (Bar, dry cleaner, lemonade stand) do something you have a passion for

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