Slowing demand from consumers, high cost of doing business, less access to capital and private equity backed executives who have no compunctions about firing half the company to run it for the cash flow.
Not an ideal time for #fundrasing, but the time maketh man, clothes too I guess.
I had few meetings with Private Equity executives. They are mostly men, and work in Finance. They could have trained as engineers in their past life but now they are, ‘Assessors.’
For me personally there was lot of discomfiture discussing the idea and implementation of Machine Dalal.
My personal story of the product is about building a feature rich environment for trade to transpire. It is about building a transformative community. A human network for machines.
That is not the story they are interested in. Investors are not in the business of life-changing ideas or transformational products. They are in the business of buying low and selling high. Way too high in fact, and this is the story that they like to hear.
Once I started doing the research I was flabbergasted by what was revealed – the industry at its current estimate will be over 800b$ within three years. With Machine Dalal we plan to capture 5-7% of it.
You see I can’t rush the process. Great invention happens over long periods of time, by lots of very smart people playing each other’s ideas against each other. We are in this for long term and we are building this brick by brick and our biggest source of encouragement has been the industry itself.
Also the first offer that came wasn’t too much to my liking. Remember my fellow entrepreneurs – if you end up reading this, a good deal will always wait. Only fools rush in.
Personally speaking I still have to earn what I burn each month but there is something I understand that this is war of attrition. There is no clock on this thing.
We have to persist and we have to stay focused.
The world of venture capital investment is about risk taking and risk to reward ratio. The world of engineering is about building things. They are inherently two different worlds but entwined to a common purpose, and if our path be righteous, the twain shall meet.
Up until next time….