Today’s 641st FREE online 1Mby1M Roundtable for Entrepreneurs is starting in 30 minutes, on Thursday, May 23, at 8 a.m. PDT / 11 a.m. EDT / 5 p.m. CEST / 8:30 p.m. India IST. CLICK HERE to join. PASSWORD: startup All are welcome!
Erik discusses his journey as a serial entrepreneur and we deep dive into the Positioning of Bloomfilter.
Sramana Mitra: Let’s start at the very beginning of your journey. Where are you from? Where were you born, raised, and what kind of background?
>>>As discussed, the Venture Capital model looks for hyper growth startups that grow at an exponential pace. Companies that can go from 0 to $100M in revenue in 5-7 years.
Hyper Growth is not a natural state of business. Most businesses grow at a linear pace at best.
>>>As of December 31, 2023, in the United States alone, there are 54,000 venture funded startups.
Let us refresh our memories on what constitutes the Venture Capital model: hyper growth startups that grow at an exponential pace. Companies that can go from 0 to $100M in revenue in 5-7 years.
>>>Sramana Mitra: I have one last question on the engineering stack. To what extent were you able to leverage existing models and components that are out there? To what extent did you have to kind of do things from scratch?
Anthony Scodary: That’s a good question. In general, we try to build everything in Gridspace from scratch, but I’ll try to answer your question in as much detail as I can.
>>>There are over 7000 Incubators and 3000 Accelerators around the world by now. On average, they take 25-30 companies per cohort, give each $15k-$150k in pre-seed funding, and off the bat, drive them to seek exponential growth funded by Venture Capital.
>>>The market is full of companies facing velocity issues due to high churn.
Somehow or the other, they may have managed to sell subscriptions to enterprises, SMBs or individuals.
>>>Communication Platform as a Service (CPaaS) player Twilio (NYSE: TWLO) recently announced its first quarter results that outpaced market expectations. Twilio continues to focus its efforts on integrating its Segment acquisition into the core business.
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