I’m publishing this series on LinkedIn called Colors to explore a topic that I care deeply about: the Renaissance Mind. I am just as passionate about entrepreneurship, technology, and business, as I am about art and culture. In this series, I will typically publish a piece of art – one of my paintings – and I request you to spend a minute or two deeply meditating on it. I urge you to watch your feelings, thoughts, reactions to the piece, and write what comes to you, what thoughts it triggers, in the dialog area. Let us see what stimulation this interaction yields. For today – Les Couleurs Italienne 10
Les Couleurs Italienne 10 | Sramana Mitra, 2021 | Watercolor, Pastel, Brush Pen | 8 x 8, On Paper
This feature from The Wall Street Journal analyzes the impact of streaming on the music industry. In 2022, on-demand music streams in the U.S. alone exceeded 1 trillion. For this week’s posts, click on the paragraph links.
>>>Sramana Mitra: The lifetime value of the customer is much higher.
Prashant Warier: I don’t think we have had more than one or two churn. That means a lot to me. The lifetime value is high. Also, it takes time to activate a market. Once there is a reasonable number of users in a certain market, that is when you start seeing the cost of sales become low. Initially, you might have to spend a lot. If you look at the cost of sales, you might not be making money on that particular customer. Then you are hoping that you’ll make money on the 31st customer.
>>>I’m publishing this series on LinkedIn called Colors to explore a topic that I care deeply about: the Renaissance Mind. I am just as passionate about entrepreneurship, technology, and business, as I am about art and culture. In this series, I will typically publish a piece of art – one of my paintings – and I request you to spend a minute or two deeply meditating on it. I urge you to watch your feelings, thoughts, reactions to the piece, and write what comes to you, what thoughts it triggers, in the dialog area. Let us see what stimulation this interaction yields. For today – Les Couleurs Italienne 9
Les Couleurs Italienne 9 | Sramana Mitra, 2021 | Watercolor, Pastel, Brush Pen | 8 x 8, On Paper
Sramana Mitra: When did you enter the US? Before of after the Sequoia funding?
Prashant Warier: Just before the Sequoia funding, we hired our Chief Commercial Officer, but we didn’t have FDA clearance. FDA clearance came in 2021. Our real traction was in 2022. Even now, we are very small in the US. We have some commercial traction, but we’ve a long way to go. The other thing is that we are able to identify patients early.
>>>In case you missed it, you can listen to the recording of this roundtable here:
During this week’s roundtable, we worked with two interesting businesses.
No Sweat Clothes
First up, we had Martin Aker from Oslo, Norway, pitching No Sweat Clothes, a niche e-commerce business already in revenue.
MIAH
Then Emmanuel Akandwanaho from Kamala, Uganda, pitched MIAH, a SaaS-enabled marketplace venture.
You can listen to the recording of this roundtable here:
Sramana Mitra: When you validated the TB use case in 2018, did you put that as your only use case? Were you doing other radiology use cases as well?
Prashant Warier: We had a lot of other use cases. We are also working on a head CT product. Chest X-rays has a high volume. The other one requires speed. AI can manage volume and speed. Head CTs are taken when you’re looking at critical cases. When you want to do something quickly, you do a CT. You need a fast interpretation there. For a stroke patient, for every minute that goes by, brain cells are dying. You want to intervene quickly.
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