1,068 karma · joined June 10, 2008
Building @draftbit https://www.draftbit.com
twitter: https://twitter.com/bluerssen
website: https://bluerssen.org
We're building the tools and platform to make it possible to build mobile apps from the browser. Like Webflow for apps. We have a small, product-focused team of highly technical people based in Chicago. We're building with Reason, React, Javascript, React Native, Node, etc. We're hiring both Senior and Intermediate software engineers.
More Info @ https://draftbit.com/about or https://angel.co/draftbit/jobs/452524-senior-software-engine....
Interested? emailing us talent@draftbit.com
p.s. If you're a developer, you should check out the platform too.
We're building the tools and platform to make it possible to build mobile apps from the browser. Like Webflow for apps. We have a small, product-focused team of highly technical people based in Chicago. We're building with Reason, React, Javascript, React Native, Node, etc. We're hiring both Senior and Intermediate software engineers.
More Info @ https://draftbit.com/about or https://angel.co/draftbit/jobs/452524-senior-software-engine...
Apply on Angellist above or by emailing us talent@draftbit.com
p.s. If you're a developer, you should check out the platform too.
We're building tools to make building mobile apps as easy as webflow has made building a website. We're backed by great investors, including YC. Learn more https://www.draftbit.com
Apply here: https://angel.co/draftbit/jobs
If an investor is already invested in my company, then the expectation is that they are already trying to help me fundraise from future investors and helping me to realize exit with potential acquirers. So I shouldn't have to pay extra.
Obviously there is likely more to this story, but on the average this feels perverted.
We're building Draftbit to make it easier for everyone to build, launch, and iterate on mobile apps. And do it without writing code, unless you want to. Over time, we hope to make building great looking, high quality apps as easy as (or easier than?!) launching a website is now. And by doing so, we hope to democratize software development, allowing anyone to turn their idea into reality, and build it into something great. https://draftbit.com
We're a YC Company.
Apply At: https://angel.co/draftbit/jobs
You probably need a membership model that people pay for, that also grants them the Amazon prime shipping benefits and covers the cost of reviews etc...
The site uses ReasonML to stack SVG's on top of each other, provide unique combinations of attributes. Our current set supports more than 2.5 billion possible permutations!
You can use Personas to create a new icon for slack, social media, product hunt, etc. Or use the (free) Sketch file to build a set for your products or apps, or dig into the source code on GitHub to help us improve and expand Personas for everyone. Cheers!
Instead of being an "infrastructure" layer like they have touted to be in the past, they are now getting into verticals. So anyone building a consumer focused business that relies on a graph should be pretty paranoid about what the future may hold, just as anyone in the retail/ecommerce world is already scared of amazon. Especially if you're using facebook auth or facebook ads to drive your business: because it tells them whether you're worth coming after or not.
Think of the forces at play here:
- (1) Facebook already has an enormous, aggressive, and well funded team ready to pounce on new consumer apps that are up and coming. See Snapchat features, and the dozens of other apps that have gotten to the first tier of success only to be out gunned by facebook.
- (2) The rapidly shrinking facebook API landscape (and related platforms), due to the Cambridge analytics stuff and other concerns. API access is shrinking, not growing, with many platforms (like WhatsApp) with no plans to ever even have one.
- (3) The prevalence of facebook ads as a "first place" to learn and iterate on your business. If you think they are ignoring the rapidly scaling consumer businesses, you're wrong.
- (4) And now finally, their willingness to go into verticals instead of stay at the infrastructure level. They have the perfect storm to come after any consumer business with network effects at the core of its functionality.
I agree, this is hard to do. Because most investors triangulate on 15-25% per round, and use the amount of money you expect to raise as a way to back into a valuation.
As a founder, the best way to do this in a seed round would be to raise (all or most of) your seed round from Angels, who are more likely to sign off on a note / safe at a specific cap without knowing the total amount raised, and then you can triangulate on 10%.
It's worth noting that this game is even harder outside of the valley, because while operating costs are significantly lower, so are valuations, and most companies will bump into minimum cash needs for 12-18 months.
Sam made a good point: running out of money is way worse than optimizing for your cap table.
Let me make a second point: Optimizing for success is way more important than optimizing your cap table. In other words: If you believe a specific investor meaningfully adds to the probability of a success state for your company, then its probably a good bet even if you are not happy about the dilution.
In order of what you should care about:
1. Not running out of money.
2. Finding people who can be value-add and help you prevent mistakes and find success.
...
3. Dilution (within reason).
Also, you can always recap founders in later stages. It happens.
Overly simplistic example: eBay bids $1 max and Amazon bids $2 max. People searching for eBay have a 10% probability of clicking on an eBay ad and a 2% probability of clicking on an Amazon ad.
Expected value to google: Ebay - $1 * 10% = $0.10 EV max Amazon - $2 * 2% = $0.04 EV max
Ebay is displayed even with a lower bid because the expected value of the display is higher. The bid is never adjusted -- eBay is specific about its bid or its maximum bid and the market of expected value decides who is shown. Amazon could just as easily bid $5.01 and show up. And when the ad is clicked, if Amazon is the only bidder at $2, then Ebay would pay $.50 for that click because that is the lowest bid that wins the position using the EV.
To apply this to the Snapchat Conversation -- One might expect if Snapchat operated this way, then its probably fair to assume that EveryTown would have had a much higher relevancy score than NRA, so should have been able to win the campaign for much lower $$. But in paid placement like this, everyone is paying for placement not for performance. It is not an EV market. Hence the dilemma.
It allows nasty investors to put a gun to the head of the company to either bankrupt the company or (in reality) force a crazy negotiation for more equity when an exit isnt found within enough time.
Avoid like the plague.
So, good for Dropbox.