Varun MathurIts behind a paywall. What's the jist of it ?
We trail US by a normalized factor of 100x when it comes to angel/seed investing (private capital), and China by 100x when it comes to public money earmarked for high-risk startups - curious to know what you think we need to do better ?
We outgrew our office so we moved to a new one and we are subleasing our old one. It's got 2 months left, King & Spadina, Ebay building. We pay $3,300.00 a month, but we're willing to sublease it for $2000.00 a month. It can fit 4 large desks, comes with $200 Regus coupons. If interested, please call 416 843 2304 or email [email protected]... See MoreSee Less
Welcome to Episode 48! Michael Litt is the Founder & CEO of Vidyard, the video intelligence platform that allows you to create, measure and strengthen engagement of your video content. Vidyard are based in Canada and have raised over $60m in VC...
Citizenziggy EsQobarAirbnb comes close second at well over 2B.
global business models that require litigating at the municipal level are a massive ongoing legal expense... but if they can hold out they will entrench themselves a virtual monopoly.
9 hours ago · 3
Varun MathurMichael Mahon Couldn't disagree more (perhaps you did that intentionally to start this debate :)) This is going to be the one of the greatest tech companies of the 21st century:
1. Uber as a startup is close to having a near-monopoly on the ridesharing market in the US (how long will Lyft survive as an independent startup ?)
2. And, still, it has only just scratched the market - with less than 15% of US consumers having ever used Uber/Lyft. Pew Research poll.
3. Tapped into a blue-ocean of non-taxi drivers, converted a large number of people to drive casually.
4. Unlike every other on-demand startup, Uber drivers actually make money - "good enough" for them to hang around using it (I have been moonlighting in Uber driver forums for past several months and see it first-hand).
5. Uber is expanding into delivery of anything and everything - moving people and goods. It will decimate other startups operating in this space unless they can find a specific niche.
6. Brand - consumers love it.
7. Data - Uber has extensive data and leverages it effectively to manage supply/demand. Surge pricing.
8. Platform/API - It is embedding itself gradually to be a viable alternative means of transport. For instance, through Google Maps, you can trigger ordering an Uber now and see ETA. Using Uber API you can plug your app/bot to leverage Uber's driver network.
9. Vision/driverless cars - Its partnership with Volvo, and the ability/ambition to equip cars with self-driving car kits is a better vision for adoption of self-driving cars than the one which calls for buying one outright. An Uber de-facto operating system allowing fully-autonomous cars to go out and make money during the day moving people and supplies, 20 years from now, doesn't seem too far-fetched.
10. Sheer aggression, attitude and war mentality of its leadership team led by Travis.
Matt Burnsinvesting in the future > generating profits in the present imo
9 hours ago
Michael HofwellerTheir biggest expense is paying human drivers. Based on what I've read lately my opinion they're using human drivers only for deep global market penetration and product validation but will recoup that in the long run as they eliminate humans and replace them with self driving cars. Just taking a guess :p
9 hours ago · 1
Mathieu LachaînePeople saying they have a "monopoly"... the problem is there is virtually no switching cost... and I'd rather take an autonomous Tesla, I respect the CEO's mission much more.
8 hours ago
Mathieu LachaîneTwo Questions:
1. how much did Tesla lose up to date ? I believe it is still losing $ after 10 years, no ?
2. are those companies capitalizing R&D? I believe most US startups don't, and that can make a huge difference in accounting losses.
Julien SmithYeah how is this even a conversation we are having? You think the best venture firms in the world are idiots? I know people at massive, massive funds that now REGRET passing on Uber at 16b valuation. This is a common sentiment.
Honestly I think a lot of this reeks of jealousy whenever it comes up. It's a shame. Canada can do better than to hate on others to pull themselves up.
Florent VilmartYou know a lot of startup with $1B revenues? This is already big... bigger than anything else. So big it can hemorrhage $2B
5 hours ago
James MartindaleTheir annual revenue is close to $4 billion and grew 18% in a quarter. I don't think anyone will panic until the revenue growth starts to slow. It's a sustainable business model with that revenue and investors will continue to allow them to burn cash to establish further penetration.
Sandy ScottWhat I found interesting was the massive difference between gross and net revenue. Net revenues relative to gross revenues is actually shrinking (25% to 22%) - suggests they are actually accelerating subsidies or somehow redistributing margins to others somewhere...given their competitive stature, I wouldn't have thought this necessary (at this point...3 years ago, sure, but now? with 80+% share?). Also, operating losses GREW from quarter to quarter, meaning spending is growing at a meaningfully higher rate than the revenue is. So they continue to accelerate subsidies, as well as operating expenses, at a faster rate than their 18-20% growth rate.
I am a huge uber user and fan...well, except when surge is like 4x like it is right now in Toronto! And I have to believe that some regions, like Canada, have to be profitable (if regions like Canada weren't, given there is basically no competition, then there would be REALLY MEANINGFUL SIGNAL there in my opinion). Anyway, some dudes that are WAY smarter than me thinking about this one inside the Company and am sure they know what they're doing.
We all have our hearts in the right place but sometimes it is good to question the mechanisms we use to achieve our objective. There is the potential our policies have the opposite effect to what we hope. ... See MoreSee Less
Sonya MeloffNice article Ben. At STA, we shut down Dec. 20th - Jan. 6th and it's been unbelievable how hard people work to the end and how refreshed and energized everyone returns in the new year. We're going on 4 years of this now, and I personally can't wait for the yearly break when I know the whole company is off. Of course, we're all sales people and will deal with business where possible and as required and we've only seen a positive impact.
In case you love going to listen to old white dudes talk about money. I got this email today with a lovely and proud layout of 15 head shots of old white guys, 3 other coloured humans and one white female speaker. Obviously I rushed to cash in some bitcoins and get signed up because I'm certain the content will be entirely fresh and it's a great representation of the future of tech. To add some irony - the email came from the url youngstartups.co where maybe wedontthinkyoullnotice.com or youprobablydontcareaboutequality.biz might have been more appropriate. I'm surprised it didn't come in over the fax.
We're pleased to announce the first round of Top-Tier VCs confirmed to speak at The 2016 New England Venture Summit, being held on December 6th - 7th at the Hilton in Boston Dedham, MA.This exclusive venture summit will feature over forty leading VCs on timely panel discussions, presentations by mor...
Boris MannFor basic contracts, especially around custom development (either you providing it or you contracting it) we really should just have free high quality templates available. Here's mine -- [email protected]/sample-consulting-agreement-8300bcbe538
So, which law firm in Canada is actually going to go all 21st century and provide a set of these?!?!?!?!!?
Kelly McGregorIf you're involved with Velocity (you appear to be from uw), there's a lawyer/advisor who has done some work for us that we are happy with and she offers free to cheap rates for velocity companies. Email me at [email protected] and I'll refer you.
A few people have asked me about legal standardized templates for their startups. Take a look at this templates free from YC. Obviously these are just templates and don't be afraid to reach out to a lawyer for guidance.
Safe Financing Documents The safe (simple agreement for future equity) is intended to replace convertible notes in most cases, and we think it addresses many of the problems with convertible notes while preserving their flexibility. In addition to being simpler and clearer, we intend the safe to rem...
Melissa KwanI've gotten permission from our lawyers to do a piece on this and make their Canadianzied SAFE available. I'll be writing something on our funding experience using the SAFE in the US (I'm in NYC but my co is based in Vancouver), the pushbacks we had, and how we addressed them. Stay tuned.
Joseph PuopoloBoris Mann thank you kindly for your counterpoint. The main goal, get reusable documents so to your point we aren't re-inventing the wheel. Maybe these docs could live on Startup North David Crow?