Two tech workers in Brooklyn are planning to build a newsletter/article based professional education service, starting with product managers.
|1. Fundraising Target?||$250000|
|2. Fundraised So Far?||$13150|
|3. Pre-Money Valuation?||$2000000|
|4. Previous Year's Annual Revenue||$0|
|5. Previous Year's Annual Net Income (+ Profitable, - Burning Cash)||~$-46965|
The 6 Calacanis Characteristics ("Sow Passion, Not easy mediocrity", or S2 P6 N18)
|1. A startup that is based in SV?||False: Brooklyn, NY|
|2. Has at least 2 founders?||False: Two|
|3. Has product in the market?||False: Trying to be newsletter education for professional upskilling|
|4. 6 months of continuous user growth or 6 months of revenue?||False: Nothing in the market|
|5. Notable investors?||False: No one I recognize|
|6. Post-funding, will have 18 months of runway?||False: Would need half a mil|
The 7 Thiel Questions (Every Time Man Profits, Don't Dismiss Serendipity)
|1. Engineering?||1||Not convinced it's 10x better|
|2. Timing?||2||Newsletter/articles are indeed the right thing to build in this time|
|3. Monopoly?||1||No rev, no users, I'd probably be the target market|
|4. People?||2||Cool techies, but no product|
|5. Distribution?||2||Fine distribution through Internet and network but no overpowered advantage|
|6. Durability?||2||Hard to say since product isn't launched eyt|
|7. Secret?||1||E-learning is going to be monetized through curated articles and Homeroom will play the curriculum designer|
What has to go right for the startup to return money on investment:
1. Ship a product; 2. Monetize; 3. Demonstrate stickiness and solve the curriculum problem at scale
What the Risks Are
1. Not even a million dollar startup yet; 2. Feature not a business; 3. The education space can definitely be messy, see /Viveka
Bonus Muhan's Notes
Made me wonder about how I level up in my own learning. Mostly audiobooks! Shameless plug:
This is where I’ll post updates about the company. This way all my notes from offering to post-offering updates will be on one page.
Review these deal memos every time the startup raises a new round
Test if original thesis still applies
Notice trends in how you think
So, did I invest?Click here to find out.
Other thoughts, questions, comments, or concerns? Write me at firstname.lastname@example.org and let me know.