If on the other hand we have committed $10 million and if you don’t have 3 other investors around the table and if you’re burning $800k / month (implying you need $10 million more to fund one-year’s operations or nearly $15 million to fund 18 months) – we’re simply “over our skis” in order to help you because we wouldn’t put $25 million in one company at our size fund. So even if we LOVE your business you are stretching our ability to fund you in tough times.
And rumour has it they aren't showing real hardware demo's to anyone, even under NDA. Glad I didn't take Perry up on her offer of a tour, that would have been a waste of a 24,000km trip
And rumour has it they aren't showing real hardware demo's to anyone, even under NDA. Glad I didn't take Perry up on her offer of a tour, that would have been a waste of a 24,000km trip
Shoulda sent Dave #2 aka David
BTW: Rumor around my apartment is she just makes you watch while she eats an entire ham (after signing an NDA).
Check this out:
http://www.bothsidesofthetable.com/2016/02/15/so-what-is-the-right-level-of-burn-rate-for-a-startup-these-days/
Mark Suster who funded uBeam to the tune of $10M, odds are he's talking about uBeam here:QuoteIf on the other hand we have committed $10 million and if you don’t have 3 other investors around the table and if you’re burning $800k / month (implying you need $10 million more to fund one-year’s operations or nearly $15 million to fund 18 months) – we’re simply “over our skis” in order to help you because we wouldn’t put $25 million in one company at our size fund. So even if we LOVE your business you are stretching our ability to fund you in tough times.
He invested $7.5M, the "biggest cheque he's ever written", and $800k/month churn rate sounds about right for a company the size of uBeam.
Obviously using uBeam as a case example here even though he's not saying it. And he says "It’s a very personal topic "
And rumour has it they aren't showing real hardware demo's to anyone, even under NDA. Glad I didn't take Perry up on her offer of a tour, that would have been a waste of a 24,000km trip
Check this out:
http://www.bothsidesofthetable.com/2016/02/15/so-what-is-the-right-level-of-burn-rate-for-a-startup-these-days/
Mark Suster who funded uBeam to the tune of $10M, odds are he's talking about uBeam here:QuoteIf on the other hand we have committed $10 million and if you don’t have 3 other investors around the table and if you’re burning $800k / month (implying you need $10 million more to fund one-year’s operations or nearly $15 million to fund 18 months) – we’re simply “over our skis” in order to help you because we wouldn’t put $25 million in one company at our size fund. So even if we LOVE your business you are stretching our ability to fund you in tough times.
He invested $7.5M, the "biggest cheque he's ever written", and $800k/month churn rate sounds about right for a company the size of uBeam.
Obviously using uBeam as a case example here even though he's not saying it. And he says "It’s a very personal topic "
And rumour has it they aren't showing real hardware demo's to anyone, even under NDA. Glad I didn't take Perry up on her offer of a tour, that would have been a waste of a 24,000km trip
$800k/mo seems pretty outrageous to me. That would be at least 50 well paid engineers plus bennies and overhead. Obvious there are some hardware costs in there, but that really smells fishy to me. I'm not saying this is going on a uBeam, but it's not unheard of for the "other people's money" being spent to boomerang back into the execs' pockets in the form of owning the property being leased, making loans to the company at high interest rates, etc. That just seems like a metric shit ton of cash flowing with nothing to show for it.
$800k/mo seems pretty outrageous to me. That would be at least 50 well paid engineers plus bennies and overhead. Obvious there are some hardware costs in there, but that really smells fishy to me.
I think they settled a year or two ago.
I think Dweck may have dodged a bullet there!
$800k/mo seems pretty outrageous to me. That would be at least 50 well paid engineers plus bennies and overhead. Obvious there are some hardware costs in there, but that really smells fishy to me.
According to LinkedIn they have 24 employees:
https://www.linkedin.com/vsearch/p?f_CC=3038762&trk=extra_biz_employees_deg_connected
So maybe double that as everyone is not on Linkedin, or bother to update.
Also, it seems they have a production clean room and all the latest toys. Just their production setup alone would cost a lot, they are making their own transducers apparently.
I have no doubt the facilities and tech would be very impressive if you visited, which is almost certainly the reason Perry invited me (apart from fire fighting and pre-empting my announcement I was thinking about doing a video on it).
As for building one's own tranducers, thats just a total headscratcher. Maybe there's an IP issue that drove the decision, but ultrasonics is a technology that's at least seven decades old and well into maturity. So, inventing their own production techniques really strikes me as odd. Typically that's what one has to do after everyone that knows what they're doing tells you to FO.
(I used to live in Smithfield, VA (Ham Capitol of the World) and on days when the wind was jussst right, you could smell smoked ham. On days the wind was wrong, you'd smell the pig trucks, which was about as bad as you'd imagine.)
Meredith tweeted this the other day and them promptly deleted, presumably after someone tapped her on the shoulder and said that's probably not a good idea.
A photo of their first ASIC.
What does that mean? Well it obviously means that they were not close to production if this is their first ever ASIC. It's not even packaged yet, just hot off the wafer line.
And it shows were the money has been going too, ASIC's aren't cheap.
Also, what ASIC is it? The transmitter? The receiver?
It also shows how much further they have to do before actual production.
And of course, more classic Meredith - "Keeping silicon relevant in the valley" as if no one else is doing it
And WTF are they doing making ASICs before demonstrating anything ? Just pissing more VC money away?
And that die looks huge, way too big for it to be cost-viable in a receiver.
Or it could just be BS
"almost delusional mentality" - well that's about right, minus the "almost"
If that's a picture of a wafer those are some strange looking die. If you just look at one square it looks more like a lead frame than a chip.