- 天时地利人和—Feasible problem, with demonstration traction, backed by the investment arms of their customers and worked on by a team with deep complementary skills.
- Starting in a “niche” and defensible application: B2B sales and helping airlines begin to think about email as an interface rather than just a messaging service.
- Critical investments from JetBlue and Elal Airlines’ venture arms.
|1. Syndicate lead has >5 years investing and >1 unicorn investment||Fail|
|2. A startup that is based in SV||Fail (New York, NY)|
|3. Has at least 2 founders||Pass|
|4. Has product in the market||Pass|
|5. 6 months of continuous user growth or revenue.||Pass: Revenue grew from $73k to $84k from 2017 to 2018|
|6. Notable investors?||Pass: JetBlue Technology Ventures|
|7. Post-funding, will have 18 months of runway||Pass: Raised $474k, expenses in 2017 were $82k|
|8. Proprietary technology?||Pass: as proprietary as anything in digital property can be|
|9. Network effects?||Fail|
|10. Economies of scale?||Pass|
|11. Great branding?||Pass: (Huzzah for UX cofounder)|
- The Engineering question:
- Good: MovableInk in NYC has great technology that allows for email to dynamically update, but most emails I get do not have this yet. Perhaps there’s an adoption question where most people still think about writing and delivering e-mails like traditional mail, instead of dynamic (dynamic novels, dynamic contracts, etc.)
- The Timing question:
- Good: 2018 is a good time to build software business. Aside from that, airlines are getting killed by their thin-margin business.
- The monopoly question:
- Good: helping airlines apply this technology, then applying it across other verticals, is a winning strategy.
- The people question:
- Good: With a team of three, young Asian men who occupy the “hacker, hustler, hipster” paradigm (programmer, salesman, and designer) there’s not much to dislike.
- The distribution question:
- Good: B2B sales is super hard. But with money from JetBlue
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