One year as a solo dev building open-source data tools without funding
datastation.multiprocess.io
datastation.multiprocess.io
If you're really interested in VC funding you should proactively approach VCs (ideally using introductions by your network) that seem suitable. And you should check beforehand that they don't fund your main competitor.
Respectfully disagree - I don't think competitors copying is a significant risk early on, compared to running out of money whilst trying to hit product market fit.
Basically if somebody wants to invest ask them: $ and t+
If they try to dodge or make up excuses, MOVE ON. IF they say if you give me A,B,C and then we can invest, ask them to put them in writing and put an exit fee. If they do not invest, they give you 1% of the proposed amount.
Somebody who is serious and has the balls won't waste time. Unfortunately rare.
I've wasted a two years of my youth because a VC on HN reached out to me, who ultimately just used my product/coding services.
Any dumb fuck can be a VC if they can raise cheap capital. Remember, there is very small group of VCs that know what they are doing. The rest are just in the game to spray and see what sticks on the wall (most of them do not make it during a downturn)
It's not necessarily a bad thing to meet with an associate, and doesn't mean they are seeking to kill your company. An intro meeting with an associate will take time you could be spending elsewhere, so it's up to you to determine if it's a good use of it.
Had a random contact and ended up securing funding.
Had hundreds of random contacts with junior VCs who were just fishing and looking to fill their calendar.
Nowadays I just decline these meetings as they are quite boring after the 10th time and have a low hit rate.
But VCs employ armies of people to trawl the internet for new companies, and as an early stage founder you are time poor. Tell them that you are focusing on building right now but would love to chat when the time is right, add them to a spreadsheet, and go back to work.
The time to start taking calls is when you are actually ready to raise a pre-seed/seed, or ~6-12 months out from your series A (by this point you should have a team who can keep building while you are networking).
Also as the author noticed, treat the VC calls like a phone screen, and ask questions to filter out bad matches. If they don’t lead rounds at your current stage, or don’t “get” your product or market, move on.
If ever founder followed this advice, there would be a revolution in the funding landscape.
If you know, how are you going to prove it?
If you can prove it, how are you going to litigate it?
NDAs only real usefulness is for big players to legally bribe and contain small fry.
A VC seems impressive but they are just another company trying to make money. It's the founder version of getting LinkedIn Recruiter Spam.
Err... why?
It feels like a stamp of approval even though its mostly meaningless. Like getting recruiter spam from a fang company. It feels like you must be doing something right or its a sign you are a good X. In reality it just means you're in someones marketing/outreach funnel.
People with money don’t usually know where to put it but can buy the time of many people in their 20s to roll the dice with their time.
It can be a mutually productive relationship if eyes are wide open.
If it’s one way it can be tough.
Mentors/Investors have always said to me to seek investors (or individuals who care about you and your mission (before being part of a VC portfolio) and can help you navigate a world that is going to be foreign.
VC portfolios are focused on their return or outcome in a specific timeline. Decisions may need to be made as a result that might be the wrong ones because of that pressure and not enough insight from the market. Still it can be positive and productive in a healthy relationship.
It's great gossip, don't get me wrong. It can even sway decisions. But a fifteen minute call between two people about another call one of them had isn't really the tell-all people might think.
At best I learn that so-and-so is using this tool, or spending money with this vendor, or do such-and-such process in-house. If gossip about another company convinces an executive to make big moves, the gossip was a very small part of that energy.
You can also just promote your business without disclosing your secret sauce. If you can't handle a meeting with a VC without accidentally handing over company secrets, you've got bigger problems.
If your idea can be so easily stolen, no one will want it because others can also steal it. Also, someone has probably thought of it and tried it. Also, it probably means your vision not ambitious enough to be a unicorn, and you would have better spent your time climbing a corporate ladder.
That said, there's wisdom in not assuming that VCs want your company to succeed, even if you get funded by them.
(self-response: maybe, if they're going to cut corners in some areas to provide a more popular but somehow value-compromised alternative)
I can definitely recommend Startup School, it helped me build a lot of useful connections.
Edit: I'm not looking for actual %s, just the factors involved.
I dream to start a company where I am able to steer almost every decision and the company shares automatically reduce my ownership over X years until a kind of coop forms and most employees have enough equity as a group to control the company. Give away control to put the right incentives on hiring. Also none of this 1 year cliff vesting nonsense. If you are willing to join a startup I am willing to give you equity immediately.
It is foolish to give immediate equity to a new hire who hasn't proven themselves as a good worker and good fit.
this is actually a terrible advice, although i'm glad it worked out for you!
this type of side-hustling can quickly turn into losing your startup or your job (or both)
better approach is to save some money, leave for a year and become profitable from day 1
profitability will decrease your chances of failure dramatically
This kinda feels like saying a small loan of a million dollars increases your chances dramatically.
The challenge is in getting to that point.
majority of us cannot afford to retire at home for years not making any income
"just make some money" is not good advice. It trivialises the entire problem and even worse, it's the core problem of everyone in this space. This reasoning is dismissive of their struggle and doesn't help them move towards where they need to be. There is absolutely no good reason to treat other people like that.
i'm suggesting to try to make money as soon as you can, else you'll just drown like many others
In many Western economies, the level of taxation is designed to prevent you from doing that. It would take many years to save enough money to sustain yourself for a year without changing your commitments much. So either way you are in a bad position. I mean it's possible if you don't have a family, share a flat with others so your bills are low and so on, but you may end up just as burnt living in such environment.
Even solo entrepreneurship isn't really "solo". Takes a village to raise a {business|baby}.
Same as the author we tried to get funding and mostly failed. In the end I think it is for the best as I am not a fan of the growth at all cost, I much prefer to build a smaller sustainable business if that is still possible. One thing that I wish we had is a more experienced person in the team since we burned time and money for stuff we didn't know better (small tear when I see my lawyer bill). It is a great experience otherwise, I just hope it will go somewhere.
This is great advice, also take the time to find people that are passionate about what your are doing.
"WunderGraph let's your access all your systems through a single pane of glass."
Lets* You*
i'd like to suggest you to also build a business
else, you'll end up like countless of other startups and open-source projects that existed for a brief moment but failed due to not making any money
try working on both your business offer and your software offer in tandem
your software product should serve your business, not the other way around
this is the approach i'm using right now for Typosaur (.com)
Congratulations on your work :)
If you’re determined to be CEO get a CEO mentor and an early sales VP who can do all the interpersonal stuff you find uncomfortable.
If you want to stay in product/dev find a cofounder to be CEO. They are late so cofounder doesn’t necessarily mean 50/50 here. Founder vest.
It’s evident your story needs tuning as “I had a hard time paginating results” is not the real story here nor is it very compelling and just reinforces initial uninformed opinion in the space that you’re only scratching an itch that isn’t market-validated.
What are other people doing with your product? That is the story. This feels like it could be a really big thing.
My main thought midway through your narrative was wondering when you'd realize you're building out a datadog-like tech stack - you mention I think splunk at one point in there at least.
I think a thorough review of datadog and a competitor or two might be interesting for you; the market for 'use SQL for everything' is pretty small. The market for 'use dashboarding tech to read ALL the data' is really very large, and the command line tool you built probably works as middleware.
If I were sitting where you're sitting, I would probably look at two things: could I build a niche datadog competitor with what I've got? If so, you've got really good market comps in public companies and could probably build a pretty great SAAS-model lifestyle business at the very least, which would have value to own, sell, or get investment in for growth.
Second, if I didn't think I could, I would look into selling the CLI-SQL tool in the marketplaces of datadog and so on; their strategy is to allow partners to monetize the customer base by selling tools - this probably wouldn't be a retirement-grade result for you, but I bet the monthly income could significantly beat what you've got so far; those BI tools are expensive, and so incremental charges don't always register, especially if you're bringing new data in the system in a way that was difficult to before. In this case, I'd probably work on a couple quick hits where your tool brought a lot more expressivity to the dashboarding tools. For instance, you can pay extra for log ingestion at datadog, but the tools for dealing with these logs are somewhat limited in the UI. A similarly-priced extension from you that gets better querying might be worth a lot.
At any rate, keep it up, and good luck in the next year!
> Tons and tons of companies are trying to solve this. You'll get lost among all the vendors trying to capitalize on the “Modern Data Stack”. They're expensive.
Yes, and Yes. However I see a path for a new kind of warehouse that isn't a "Git for Data" or a Databricks' product.
"Topics" (Kafka terminology) containing versioned datasets could help organise and discover what is available in a given repo. The Data versioning would help ensuring reproducibility of any AI pipeline consuming those, because artefacts would be kept unaltered "forever". And finally, availability would be supported by a simple set of read-only replicas.
Your best alternative today consist of stuffing a blob storage with parquet files, and giving write access to a proxy (or to everyone, if you want to live dangerously). Where are append-only semantics ? Conflict-free artefact creation with concurrent reads ?
There is massive opportunities here, it's almost exciting !
PS : > I'm particularly interested in ending up at a database or analytics company. So if you're a database or analytics company hiring managers or developers, feel free to message me!
I see you in the thread, so does a consulting company with a massive Data Science arm is of any interest to you ? :)
ha, maybe! You have my email.
If your data versioning "Utilizes a Git-like structure that enables effective team collaboration through commits, branches and rollbacks", then it means you can only consume one version at a time in your pipeline. This is, unfortunately, a fatal flaw. Especially when working with time series !
5 years later and this still feels correct. From one OSS Dev Tool founder to another - more power & good luck!
[1] https://www.defmacro.org/2017/01/18/why-rethinkdb-failed.htm...
Especially on the community building aspect, it's really impressive that you've been able to spark so many communities on various platforms (Reddit, GitHub, Discord, etc.)!
On a more technical note, since dsq is based on the "load it into SQLite and query it from there" architecture, have you considered integrating with the plugin ecosystems of other existing projects based on that same architecture, like Datasette[0]? It seems like a way to add a lot of value to your tools without much work.
Just curious, cause I'm thinking about doing something similar for OctoSQL[1] (write an adapter for the rich library of plugins Steampipe[2] has, as they have a similar gRPC plugin-based architecture as OctoSQL), for the reasons I listed above.
On a more commercial note, overall I think tools like this are very hard to monetize, because right now they're just a fairly niche use case, between - as you mentioned - full blown data analytics platforms and observability query systems, as well as standard unix tools. Especially since if you need the analytics a lot, you'll probably have time to integrate it into your preferred analytics solution (like BigQuery). Do you have any thoughts on that?
> Especially on the community building aspect, it's really impressive that you've been able to spark so many communities on various platforms (Reddit, GitHub, Discord, etc.)!
Yeah it's been so cool to see so many people come together, hobbyists and professionals.
> On a more technical note, since dsq is based on the "load it into SQLite and query it from there" architecture, have you considered integrating with the plugin ecosystems of other existing projects based on that same architecture, like Datasette[0]? It seems like a way to add a lot of value to your tools without much work.
Interesting idea! I haven't looked into Datasette too much. And I haven't thought about plugins too much either. The most I've done is extend the SQLite standard library [0] and I hope to continue growing that. I'd be curious to hear what specifically people like from Datasette they'd like to see in dsq.
> On a more commercial note, overall I think tools like this are very hard to monetize, because right now they're just a fairly niche use case, between - as you mentioned - full blown data analytics platforms and observability query systems, as well as standard unix tools. Especially since if you need the analytics a lot, you'll probably have time to integrate it into your preferred analytics solution (like BigQuery). Do you have any thoughts on that?
My idea was always to focus on smaller and less mature organizations, probably ones that have been around for 10+ years. They aren't using BigQuery, they prefer to host everything themselves, and they don't yet realize there are tools like DataStation that they can easily run to make analytics easier.
I've worked at a bunch of companies like this so I know the market exists. Actually I have been surprised how many people outside of this market showed up in the DataStation community. I've seen Googlers, MS-ers, modern startups, data science teams show up interested in DataStation compared to what they're already using.
For me it's just been a matter of time (and funding) to build out the product to serve these communities commercially as a SaaS or enterprise product.
I personally enjoy the software side too much to be a solo founder. When I'm in a place where I'm able to start something new, I'm going to look rather aggressively for someone to work with who can round out my shortcomings.
For the sake of the article though it's a hook I figured might encourage folks to keep reading. :)
Keep in mind the realistic alternative in practice is number of users paying for a yearly subscription. Which would you rather see more often as an engagement metric - subscription plans, or open source users? It would be a sign of vitality for the open source community if github stars were a metric that VCs sought more often.
All metrics for pre-seed startups are based on popularity, that’s what VCs ask for: indicators that people want to use your product, whether it’s monthly active users, monthly recurring revenue, or github stars.
When someone is trying to build it via open source rather than a subscription model, github stars might be the best, or even only available way to track engagement reliably. Also, part of the story was about how long it took to reach a certain number of stars, and they compared it to other projects that got as much engagement more quickly.
Regarding funding - I think this is a very crowded space and it is hard to see, how data station will get 10x better than other toolings. E.g. on the self-service side there are solutions like Alteryx, that are progressing quite quickly. On the dev oriented side e.g. for automated productive integrations you have various toolings available e.g. in the could platforms. Yes, they all cost money, but they deliver also value.
There will be a niche certainly for this tool somehow, but I think this path needs to be approached together with customers. So if you find someone who is willing to pay $$$ for a certain addition to the tool, you'll have some light into the direction this could head to be self-sustaining.
Exactly why you dont do this too
Saved you some time
I would actually recommend this sort of sabbatical if you can afford it and were in a similar situation as I was, basically.
They're now at $1M ARR: https://microfounder.com/blog/cofounder-in-marketing
(also open-source btw)
i don't understand the logic here
why would you need YC if you have found a co-founder and have some usage already? can't you just start making money?
YC is primarily looking to invest in unicorns that have returns in the 100x-1000x range. Even if you're "making money," you might just be a lifestyle business (e.g. selling custom art on Etsy) or a small business (e.g. family-run bike shop). And while both might be profitable (the owners might even be worth 7+ figures), neither of these have any realistic chance of becoming the next Amazon.
Here's a demo video: https://www.youtube.com/watch?v=_7LEV3ZeQWU&feature=youtu.be
Does this work with larger datasets (10gb+)? Does it upload the data to a server?
The DataStation desktop or server app will work better for larger datasets but it takes a while to handle data larger than 4GB. It should handle 10gb+ eventually but it will be slow.
If you hourly rate is 150$ (in the market), and you can work 300H a month (including weekend) (It should be 400 hours - 13 hours a day).
Than you are basically making around 70-100K a month (in value), but paying only 4K (in cash, your living expenses).
Of course, if you are 2X, 3X , 4X engineer , you are basically making 300K a month for 4K cost.
Unless you're actually realizing those gains and earning 300K a month, you are not "basically making 300K a month for 4K cost". You are making 0 dollars a month for 4K cost.
Further, if you think that it will pay you back in full in the future (instead of making the money right away), you will have to invent a wildly successful product and/or customer base to backfill the pay for all the previous hours worked. Realistically, you'll probably make nothing for your first year unless you start with a plan to secure funding. You'll also bust your ass for a year while losing money in the hopes of a reward in the future. I know they say time is money, but it's not money the way you seem to be equating it here haha.
Strange analysis, these numbers mostly don’t add up. People contracting at an hourly rate almost never get constant consistent work, otherwise you’d get hired on a salary. You have to spend half your time looking for work, and you’re not accounting for that at all. At 400 hours/month, you are suggesting working 90 hours per week for 365 days per year. Having worked this many hours before for stretches, I know first hand this is a recipe for complete and total burnout and depression within a few months. And even 90 hours per week at $150 per hour doesn’t add up to 70k/month, it’s 60k/month. 2x/3x engineer is usually referring to productivity, but not pay. You generally can’t increase your pay by being more productive. Pay scales that you’re talking about ($300/hr, $450/hr, $600/hr) are extremely rare in engineering and come only with niche software markets. Almost nobody is making hourly rates like that, there’s nothing basic about it, this is an unrealistic goal.
Why not sunset it, given it presents an opportunity cost?
Also, it can be convenient for testing/development since it requires no server.
I'm indecisive.
Isn't this whole problem space already addressed by a bunch of multi-source query engines (falling under the buzzword "Data Virtualization"?)
(Now, as a side note, if funding decisions were up to me, I'd suggest not using VC, never using VC, staying as far away as you can from VC, treating VC as if it were a highly addictive and intoxicating substance, like alcohol is to some people: "When friends don't stop friends from using VC..." (you know, like those old Mothers Against Drunk Driving (MADD) ads from the 1980's <g>)
"VC" above = "Venture Capital" (system) not "Venture Capitalist" (person).
(You know, like "Love the sinner, but hate the sin..." or more colloquially in recent times, "Don't hate the playa, hate the game..." <g>)
You might want to read the following articles:
https://www.joelonsoftware.com/2003/06/03/fixing-venture-cap...
https://www.joelonsoftware.com/2006/04/07/foreword-to-8220er...
But let's say that despite this, you still want to garner some funding...
For whatever reason, after Googling, I can't seem to find a comprehensive list of the various types and tiers of startup financing capital that are available (for example, there are lists of VC's, lists of "Angel Investors", lists of Crowdfunding platforms, lists of ways to bootstrap a business, lists of financial institutions and interest rates for generic borrowing -- but nobody has really sought to unify all of these sources into a single spreadsheet showing an amount of capital borrowed, and what is owed to whom in return for the capital (i.e., Equity (and if so, what %), in the case of VC's, Interest (and what %) in the case of Banks/other lenders, Finished Shipped Product (in the case of Crowdfunding platforms), or other debts/obligations as appropriate).
You could of course, just proverbially "keep the day job", that is, finance the startup costs with other employment -- and avoid all debt/obligations related to borrowing for your business altogether -- at the cost of your time, and working for someone else...
If you absolutely positively (you know, like FedEx! <g>) cannot go without VC of any sort, then you might wish to consider Pioneer's $20,000 for 2% of your company deal (https://pioneer.app/)
This might be better than YC's $125,000 for 7% IF (if and only if!) you can launch your company for $20,000 or less.
If you can launch your company for $10,000 or less, I wouldn't even go with Pioneer, I'd go with Crowdfunding and/or Family & Friends funding and/or bank loans and/or revenue from a day or part-time job...
At least if you self-finance, the "Pound of Flesh" (the drawback or compromise or hook or caveat -- with my apologies to Shakespeare's "The Merchant Of Venice") that could have been present in your company's future -- will never come due!
It's sort of like, pay now or pay later... pay now with due diligence and thrift -- or pay later, when the VC owns you! <g>
Anyway, wishing you well with your blossoming company!