Homejoy Is Shutting Down At The End Of The Month

[Andy Black]

@MJ DeMarco I wonder if we should have a dead pool similar to what F*ckedcompany.com used to have... An archive of companies that were once high flying that are now defunct.

Two purposes… Number one it's Google indexable and number two the history is great for up and comers to learn from.

We could also put our own projects in there or a similar location, highlighting where we think we went wrong, what we'd do different, and where others could pick up if they wanted to pursue it.

Sometimes projects or progress threads go dead and just trail off. It might be nice for closure and encourage people to see "failure" as feedback.

 

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[obrian]

Another one down.

I've no idea how much total funding they had, but they received $500k back in 2013.

• http://techcrunch.com/2013/09/02/sooqini

I signed up out of curiosity, looking for a telemarketer. I even paid £50 to get one of their staff to help me, more to see how their onboarding worked.

Even when I raised my hand and marked myself as someone with a need who is willing to pay for a solution, I still got nothing out of it.

Which wasn't a good sign for their business.



I had this email today:

lol another company down, entrepreneurs these days feel like since they watch a little sharktank and get inspired, they can get some idea and run with it like it's early 2000 lol businesses these days is a different climate. i don't anything against entrepreneurs who want to start a "startup" because they are the ones that has alot influence on the world and make life easier for us consumers "if and when the make it big". i watched this new series that's just start called "startup u" with tim draper in it.

when i look at these wanna be entrepreneurs in the show that say that they wanna make a difference in the world looking so confident like they can take on the world and they're ideas are far from that. There is even this idea i think from this girl that say she want start this relationship gift company lol on the internet.

entrepreneurship is not an easy road and if you think some idea and funding is going to sort you out lol think again and go back to the drawing board.

 

[GSF]

Startups make me cringe, everytime I see these 'founders' up on the stage going on about their business using startup buzzwords and making references to uber or apple I just cant watch it, call me simple but surely business really comes down to this,... no matter how great or grand your idea for world domination is... does it make money? more money coming in than it spends going out? - more income than expenses? more assets than debts?

The other day I noticed these jokers- Shazam, I was a bit confused about what it is they actually do (I still am) so I did a bit of research, turns out theyve had a total of $125m funding and haven't been profitable in over 8 years, but theyre valued at $1billion, theyre on a mission "to identify any piece of music, wherever it plays", thats great if they achieve that, but if theres no profit then its not commercialy viable, and surely only a matter of time before failure.

 

[juan917]

Startups make me cringe, everytime I see these 'founders' up on the stage going on about their business using startup buzzwords and making references to uber or apple I just cant watch it, call me simple but surely business really comes down to this,... no matter how great or grand your idea for world domination is... does it make money? more money coming in than it spends going out? - more income than expenses? more assets than debts?

The other day I noticed these jokers- Shazam, I was a bit confused about what it is they actually do (I still am) so I did a bit of research, turns out theyve had a total of $125m funding and haven't been profitable in over 8 years, but theyre valued at $1billion, theyre on a mission "to identify any piece of music, wherever it plays", thats great if they achieve that, but if theres no profit then its not commercialy viable, and surely only a matter of time before failure.

Sounds like a pyramid scheme to me

 

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[obrian]

look at this article a company that just launched and worth over 3 billion.
http://www.wsj.com/articles/frenzy-...jet-com-harks-back-to-dot-com-boom-1437359430

 

[Richard Hart]

Always makes me scratch my head when you read about startups losing money hand over fist yet are valued in the $billions. Snapchat being an example. Valued at $20bn yet generated only $3.1m last year on top of losses of $128m.

http://uk.businessinsider.com/snapchat-only-generated-31-million-last-year-2015-8

 

[obrian]

Always makes me scratch my head when you read about startups losing money hand over fist yet are valued in the $billions. Snapchat being an example. Valued at $20bn yet generated only $3.1m last year on top of losses of $128m.

http://uk.businessinsider.com/snapchat-only-generated-31-million-last-year-2015-8

lol for real i guess that's just how it goes these days

 

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[nzerinto]

Always makes me scratch my head when you read about startups losing money hand over fist yet are valued in the $billions. Snapchat being an example. Valued at $20bn yet generated only $3.1m last year on top of losses of $128m.

http://uk.businessinsider.com/snapchat-only-generated-31-million-last-year-2015-8

It's not surprising. Valuations are often inflated because the investors want it that way. Get in early, pump up hype around the startup, get more funding from other sources, get insane valuation, then exit and take a giant payout. It's gambling - calculating other investors won't want to loose out in case the startup does turn into a unicorn....

 

[obrian]

It's not surprising. Valuations are often inflated because the investors want it that way. Get in early, pump up hype around the startup, get more funding from other sources, get insane valuation, then exit and take a giant payout. It's gambling - calculating other investors won't want to loose out in case the startup does turn into a unicorn....

look what's happening right now with tech stocks.
http://uk.businessinsider.com/bill-...ch-stocks-could-kill-off-some-unicorns-2015-8

 

[Member]

Always makes me scratch my head when you read about startups losing money hand over fist yet are valued in the $billions. Snapchat being an example. Valued at $20bn yet generated only $3.1m last year on top of losses of $128m.

http://uk.businessinsider.com/snapchat-only-generated-31-million-last-year-2015-8

Companies are not valued only on their current earnings, but also on their potential future earnings.

That is what is happening in the technology/app sector, where if a company can come up with a good idea for how to monetize on their massive number of users they could explode their profit overnight.

I'm not saying the valuation is reasonable. The dot com bubble happened for similar reasons, where people speculated on future earnings that just never came.

Warren Buffet scratched his head during the dot com bubble. He tried to warn people but most didn't listen.

 

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[Bouncing Soul]

Companies are not valued only on their current earnings, but also on their potential future earnings.

That is what is happening in the technology/app sector, where if a company can come up with a good idea for how to monetize on their massive number of users they could explode their profit overnight.

I'm not saying the valuation is reasonable. The dot com bubble happened for similar reasons, where people speculated on future earnings that just never came.

Nobody knows what startup companies are worth. That's it. The institutional investors are not stupid, or irrationally exuberant. They know more about what these companies are worth than anyone, including the founders. They need to make their bets to a strategy, they know most are going to fail.

Warren Buffet scratched his head during the dot com bubble. He tried to warn people but most didn't listen.

Buffett's favorite investment is a rock pit. He is the anti-Silicon Valley...the ultimate rent seeker, he creates nothing.

 

[Delmania]

We could also put our own projects in there or a similar location, highlighting where we think we went wrong, what we'd do different, and where others could pick up if they wanted to pursue it.

Sometimes projects or progress threads go dead and just trail off. It might be nice for closure and encourage people to see "failure" as feedback.

Something like this? http://autopsy.io/