Since we’re in the last throes of summer and many investors unplug at this time – not all, mind you, but this is the last hoorah of summer, so not the best time to send out that pitch deck, unless you happen to know the investor or someone in the fund. Then you’re more likely to get a response, which will most likely be, “looks interesting. Let’s revisit this after Labor Day.”
Been there, done that and tis the season.
That other season.
It was something of a travel week for us, and a good time to at long last look at articles in the ‘save for later’ pile, which we did: stopped to smell the absurdities.
Incandescent lightbulbs were outlawed recently in favor of the longer lasting and supposedly more climate friendly LED bulbs, but according to greenmatters, LED Bulbs May Not Be as Great as We Thought — Studies Show Health and Environmental Risks, reporting that “Per a recent study published in the journal Science Advances, researchers from the University of Exeter have noted various health and environmental risks that come with LED lights. According to The Guardian, LED bulbs are becoming increasingly more common, and even though they are more energy efficient, they emit more blue light radiation”…which is harmful to human health and the environment.
What to speak of the fact that they arguably create more of an environmental hazard when it comes to their disposal.
It’s mid-August and thoughts of back-to-school and returning to work are in high gear. Or at least amping up.
Especially since tech companies are tightening their rules on remote work.
“Zoom, once the poster child for remote work during the pandemic, is now forcing a significant number of its employees back to the office, joining the growing chorus of tech companies pivoting away from remote work. Despite its explosive growth and popularity as a virtual communication tool, Zoom seems to have caught the in-office fever. The company’s hybrid approach demands that employees within 50 miles of an office show up in person at least two days a week, supposedly to foster team interaction,” the New York Times reported.
We’ve covered this subject before, and here’s a reminder – with other points added, and updates, since certain of the investors mentioned did change funds. Or started new ones. So, once more with feeling…
When you were a kid how many times did your parents say No! N-O, NO! More than once, we’d wager. How many times did they say, Yes, Y-E-S, YES!’ Bet I can count the number of times on one hand – zero. Never happened.
We did notice this at a fairly young age – long before we knew that there was such a word – that NO is an acronym. It was parent-code for ‘keep trying’ or ‘change the talking points.’ In some cases, we found that if we changed our approach or arguments, we could get a yes. Persistence pays. And the same can be said of investors. Investors hate to miss opportunities, so they don’t really like to say No. Investors like to hedge their bets and keep their options open. Sometimes they will give you a hard and fast No and mean it. Still, that said, things change, so one never knows if it truly is a hard No.
Of course, that’s a play on the line from the movie, Forrest Gump. That life is like a box of chocolates; you never know what you’re gonna get.
We tend to shake our heads whenever a shiny new thing comes along, especially one which requires people to surrender even more of their personal information.
Sam Altman rolled out his new Worldcoin—a cryptocurrency traceable on the blockchain that requires users to first prove their identity, soon to be available in 35 cities across 20 countries – and talk about security first, as ArsTechnica reported, “Central to the effort is an eye-scanning physical “orb,” which Worldcoin’s founders say is necessary for a future in which distinguishing between humans and robots becomes increasingly challenging due to a surge in artificial intelligence technology. Once users have proven they are not robots, they can be issued one of the company’s tokens.”
There was an interesting Twitter thread from @thedanigrant, CEO of jam.dev. We suggest you read the entire thread, but she begins, “When you start a startup, so many people tell you to ship fast and ship messy. They tell you: you’ll know you have product market fit when people are willing to jump through hoops to use your broken product. This was great advice in 2013. But not in 2023.”
Grant said that Jam.dev first released a buggy product, and while users might have been willing to put up with bugs in those earlier days of tech, meaning long before 2013, these days, not so much. And MVP is a good way to start – providing that the ‘M’ is sufficiently engaging to users, and case in point is the meteoric rise and cataclysmic disengagement of Meta’s Threads, which we mentioned just last week.
Oh, once the bugs were out, jam.dev relaunched and found its userbase.
Things have certainly changed in the startup landscape. Investors haven’t completely unplugged for the summer, as they had previously. Their offices might have moved to non-sanctuary cities or they may no longer have offices at all. And investment into female founded companies is down.
Okay, so not everything changes, fair enough.
While none of us have any control over investor behavior, and as someone who is hired to ‘fix’ pitch decks all the time and make introductions to investors where and when appropriate, we can tell you that founders can control their own behavior, and give themselves a leg up, by presenting their offering clearly and concisely and grabbing the attention of investors, provided that they’re truly on to something – some of whom might actually write a check.
Unless you’ve been under a rock – or unplugged due to an extended Independence Day holiday – you do know that Meta has released ‘Twitter killer’ Threads. Thirty million people signed on Day One, and it’s easy to join. No special invite required. No early adopter wait list. All you need is an Instagram account and click on the icon. You’re in!
Ah, but can you just as easily get out?
Long answer: no. Not without deleting your Instagram account and even then, who knows what data capture threads Meta has left behind.
We spend time at our place outside of the city, come the warmer weather. Two years ago, when Spring came, we noticed a small bird building her nest, tucked into a seemingly protected nook above our front door. Most people use our side door, so it was apparently out of harm’s way, and she also seemed to enjoy perching herself on the fence in front of the house, to keep an eye on her nest, and an eye out for predators and to forage.
One day, we noticed that the nest had somehow been dislodged and had fallen onto the concrete tiles. All the eggs had been destroyed. The little bird continued to perch herself on the fence in front of the door, but guess she only had one shot at that season’s eggs.
The following year, she made her nest in the same spot, and, well, history does have a way of repeating itself. Again, the nest had somehow been dislodged and had fallen, and all her eggs destroyed.
While LLMs such as ChatGPT are still very new and people do seem to forgive them for some of the ‘hallucinations’ qua fabricated information they may deliver, Amazon’s Echo and Alexa have been around for quite some time now and in case you missed it, Amazon Shuts Down Smart Home for a Week Over Racist Slur Claim.
Which begs the question: where does tech end and what belongs to you begin?
“If you bought a toaster, at the end of the day, you own the toaster. It’s your toaster…Alexa is not a subscription service. You buy the devices, and that’s supposed to be it,” said the Microsoft engineer who was shut out of all things in his connected home connected by Amazon-controlled devices, such as Echo and Alexa.