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So, @adamhjk is spot-on here -- and to a degree that was honestly surprising. Aren't all startups either fundmakers or zeroes? As it turns out, no -- or at least not to the degree that we were... It took us a while to see the pattern, but because of this starkly bifurcated potential outcome, we were REALLY divisive within partnerships: over and over again, we had partnerships tell us that their normally genteel firm had nearly come to blows over Oxide. (Always when they passed, BTW!) The level…
When Oxide was an early idea, I wound up in several conversations with investors about it. The bet was always a good one: that what enterprises will want is to own the compute layer, and that great software married to great hardware unlocks it. It's the kind of bet that venture capital is made for. If they're right, Oxide can win in a huge market that's grown fat and happy, and provides systems everyone hates to work with - it can be a huge company. If they're wrong, well - it goes to zero and burns a lot of capital as it goes down. Not every investor could see it - sometimes because they didn't like the bet, sometimes because it didn't fit their own investment thesis, sometimes because the idea of building real world things was too much. But Bryan and Steve could see it, and they found the folks who could, and the proof is here: a profitable new enterprise hardware company, growing its own at-scale manufacturing. It makes me proud of my friends who built it, and it's the kind of success that makes me glad I choose to make a career building venture backed startups. Sometimes the good ones win!