https://www.linkedin.com/search/results/content/?…
Not saying any of the above startups are bad ideas, but looking through there, it made me think of some startups that I've worked with or have read about. I can't believe some of these companies get funded, but it makes me want to try my stupidest ideas that I know shouldn't work.
What ideas have you seen that were funded but shouldn't have received the funding they did or any funding at all?
I forget the name of it, but I recall a vege juicer that received a shitload of funding and when it launched, users found that you could squeeze the juice from the packet, and therefore forego the ~$400+ machine.
You mean Juicero https://www.bloomberg.com/news/features/2017-04-19/silicon-valley-s-400… Another obvious one is Theranos
https://www.nytimes.com/2017/09/01/technology/juicero-start-up-shuts-do…
"Yo"
Just looked that up. Christ.
It's the kind of thing that makes you lose even more faith in humanity. Seriously--the creator of the yo app should be mercilessly beaten.
wow that's a scam
Is that what the show Silicon Valley satirized with the "Bro" app?
The bad startups receiving money today are about the same amount as the bad tech companies going public in 98-2000's.
Funny how things come back around.
twitter
Facebook
I heard of one called 'Ice Juice' that failed due to some external interference. I lost millions, but it was worth it.
color.com
The guys raised a bunch of money, paid 250k for the URL and bought a halfpipe for their office. I am not exactly sure what they did, but I know they didnt have a product or revenue and ended up getting "acqhired"
https://www.fastcompany.com/3002341/color-failed-what-happens-its-41-mi…
That's not stupid. That's genious. The morons are those who acquired them. It reminds be of the South Park episode on start-ups: specifically set up to do nothing and get paid for it.
Never heard of Color before, but I think some dude made bank on selling pizza.com once. Color.com would be no different, but I don't think I'd spend $250k on the domain name. I'd pretty much be gambling that Crayola would be willing to buy it for more than that...
Guy on CNBC yesterday had some start up app that helped people find each other at a concert...thought to myself we have that already, it's called texting.
Snapchat bought this company lmfao
Just about every ICO as of late
I had read that a free online survey creator website only used by human resources for nonsense received 600,000 in funding. Oh wait I misread the letter M in that, they got 600 million
Name?
I'm working on a bunch of tech startups right now
One is called Gopher. It involves people posting any task they want done and how much they're willing to pay. Users can pick up any task from the queue, but can't call the cops
Another is called WaterCloset. It takes your current location and shows you all the nearest bathrooms. It takes into account restaurants that won't let you in hassle free, and includes nearby trees and deserted areas that also work. So far it's only for #1 and #2, but working on including #3 and #4
Another is called LikeLikeLike. It connects to every social media platform (Facebook, Twitter, Instagram, etc) and automatically likes or hearts every single post or comment from every user you're connected to. It will also retweet or share every single post to every other person
Make these 5% less ridiculous and they are completely believable as startups that could get funding right now
www.fiverr.com
www.sitorsquat.com
Please enlighten me on what the hell a #3 or #4 is. Also, where did the name WaterCloset come from? Is it from the German Youtube personality that talks about Jennifer being a party pooper?
I'm hoping one is spray shitting
What about MOD Pizza? Self explanatory, a pizza joint, that has raised $150 million. Insane, I mean the place just sells pizzas. There is no idea in today's environment "too basic" to not get funded.
MOD Pizza is delicious... try it before you knock it. It could be the next Chipotle.
So you mean it's like Domino's with E. coli as a mandatory topping?
Stuff like that sounds crazy but is actually not. just cause an industry has a high start up cost or cap ex as it's barrier to entry doesn't mean it should be funded. Hell i bet i could get funding for a ips "startup" by focusing high speed internet in unserved rural communities. Innovators dilemma
I think the worst ideas that receive funding are political campaigns. Hillary blew through $1B, does it really take $1B to run for president? Even the special election in Georgia received $50M. Why would you pay people to lie to you?
Look up a startup called "Blippy".
Once you are done with that look up "Yo".
Ok, still 11PM and I'm already drunk but here's my 2 cents:
1 - Most startups (hell, most companies even mom and pop shops with no cool " startup" tag) will fail, for all the due diligence, modelling and whatsoever, whoever decides to fund them knows very well that most are crap and will not survive, the handful which do, will be counted as a "success", if ROE is above said investor's benchmark well then...it might even go to their website
2 - There was a time when I looked at some stupid companies which got funded and said " what the hell...who would create such a stupid company, what a jackass". Well I grew up and now I consider myself mature enough to say "Yeah that sucks but hey they were really smart, found someone to invest there".
Awake Chocolate. Look it up. There's no way anyone buys their products, which taste disgusting.
Never tasted it, but at least it's got a purpose.
Got called into a meeting by my one of my MD's (who focuses on VC capital raising), and this guy was asking for a multi-million dollar capital raise to get his tech company off the ground. No partnerships developed, No product developed, no proprietary IP, all pending patents (nothing verified), didn't bother testing the market with surveys, and projected a billion dollars in revenue 5 years down the road...
I have yet to see projections that aren't hockey-stick shaped. To your point, not much that bankers can do if there is no traction.
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