August was acquired by Yale (the lock company) and it got us thinking. What startups will succeed and which will fail? In this episode we talk about the criteria and then run the test against the top startups of 2017.
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Startup Show Notes
The Canary in the Coal Mine by John Biggs, TechCrunch
“If you watch startups long enough you can see interesting tells. Poor products launched haphazardly? The CEOs are focused on an acquisition or are almost out of money. Red hot hype cycle with loads of interest? Headed for a correction of Biblical proportions. Celebrity investors making the news? The company is sunk. Hot Dog costumes? You probably want to talk to your broker.”
August Bought By Yale by Swapna Krishna, Engadget
“August completely rethought how the deadbolt should work, instead of making a small wifi improvement. It made it difficult to fit into existing infrastructure.”
How to know if a startup will succeed:
- They’re making money
- Sales grow organically (viral/exponential growth is nice, but not required) – meeting a customer’s need
- The Golden Circle: How Great Leaders Inspire Action (Simon Sinek TED Talk)
- An Example: Making Life Multiplanetary (Elon Musk Speech About Space X)
10 Most Well Funded Failed Startups of 2017 by Matt Burns, TechCrunch
- Magic Leap
- Snapchat
- Lyft
- Robinhood
- Fitbit
- IFTTT
- Essential
Most valuable startups of 2017 by Avery Hartmans, Business Insider
- Dropbox
- SpaceX
- WeWork
- Palantir
- Airbnb
- Uber