HN user

evancharles

76 karma

Working on Opendoor, previously cofounded DoorDash (YC S13). Reach me at evancharlesmoore at gmail dot com

Posts0
Comments27
View on HN
No posts found.

You're going to get a ton of skepticism, but I think it's possible in a dense area to find enough people who have enough overlap in the staples they consume who are willing to pay for this. I would try to focus on quality first, proving that you can get super high customer retention and unit margin, before trying to be cost-competitive with a larger grocer.

Conflicted Capital 5 years ago

When I've seen founders try to keep investors at arms length it seems to result in mistrust, leaving investors feeling like they can't get the real story, and thus decreasing the likelihood they invest further. So rather than keeping insiders at arms length, I'd suggest being direct about wanting to meet other investors. I suggest uncomfortable candor over comfortable misdirection.

One trick to catch opportunists: start with those looking to increase their headcount faster than baseline (as any good opportunist will attempt), and then see if they will adopt an opposing logical argument as long as it leads to the conclusion that their headcount should grow.

This is a flavor of looking for those who make different arguments depending on the audience, which in general is a helpful warning signal.

Although it's impossible to entirely route out opportunists at a high quality, quickly growing company, as the author notes, I still find it is worthwhile to maximize the number of leaders in your company whom you trust to make arguments in the service of making the business work.

I think you underestimate owner costs of turnover. Risking an empty apartment for even a few weeks can erase your yield for the whole year. Landlords, then, are only likely to hike rent aggressively if it's worth that risk, in other words, when the market price is dramatically higher than the current rent rate.

Love the persistence. Happy to help edit your app or do a mock interview. Random idea for your product you've probably heard before - wedding website providers might be a good channel.

Customers are also a great source of project ideas. You can pick a customer, like "small business owner" or "wealth advisor," and interview them.

My favorite question that leads to ideas is "tell me everything you did from when you started your day until now," and dig into all the annoying/painful things they mention.

We're a startup that builds software to simplify real estate, and we use capital markets to power that experience. The ability to buy the home directly allows us to put the homeowner in control of their timeline. I like pg's definition of startup here http://www.paulgraham.com/growth.html

Internally, we talk about fundraises as "moments" but not milestones. Fundraising takes work and is critical to growing our business, so we recognize that effort but don't celebrate rounds as successes for the business or for our customers.

While great CEOs of large companies do edit much more than they write, I see early stage CEOs that think they can start editing right away, because they're the CEO.

For the first couple years (at least), it takes heroic effort to get something to work and then to build a growth machine around that thing that works, and a founder/CEO needs to do a lot of "writing" to make that happen.