Hackett: Google erred pitching wearable cameras as AI platforms, not cameras
“In, in typical Google form, they pitched it though as like, this is the center of our AI learning platform about the world, which is the same marketing mistake they made with everyone wants a face computer. No, everyone does not want a face computer. Everyone …”
Hackett: Programmers fool themselves thinking they sustain 12–14 productive hours daily
“Programming is like a deeply draining, incredibly mentally complex task, and doing it 12:14 hours a day, you're not getting 12 or 14
And you're just completely fooling yourself.”
Hackett: Founders should pitch investors who will say no first
“So the pro tip on fundraising, actually, like those kinds of sales processes, like start with someone you, and don't, this is something, someone gave us this advice, but like start with someone you don't care about, who you don't think is going to, you know th…”
Hackett: Any investor response without a term sheet is a no
“Understand that if you don't have a term sheet, it's not a yes. And even if you have a term sheet, there's still some chance that it's not a yes, but probably is. But don't leave a meeting and hear yeah, we're super interested. Tell me who else is investing an…”
Hackett: Startup acquisition processes take at least six months
“It takes six months if you want to go down that path at a minimum, and me as a, like, process optimizer, hyper-organizer, no, we can, of course we can do it in three months. You cannot.”
Hackett: Startups cannot get acquired with only one month of runway
“90% of people ask me this question when they've got a month of cash left, and the answer is you can't.”
Hackett: Never fake leverage in acquisition talks because Silicon Valley talks
“If you're in the valley, all, everyone talks to each other. Assume that all the information is out there. If you're not in the valley, it's maybe tuned down a little bit, but still, like, don't get caught lying. It, it's not worth it. It doesn't make sense.”
Hackett: Leaders should share information only when employees can act on it
“My, Feeling about all this, and just this is a general thing, being a manager, executive, founder, is you should give people as much information as possible. You really should try and be transparent. If that information is actionable, if it can actually cause …”
Neistat: Beme never missed payroll and had zero turnover during sale process
“No one on our team ever There was never a missed payroll. There was never a delayed payroll. Like this was something that Matt and I always made priority number one. And I think that like, look, no one left. No one left. And this is a shitty seven month proces…”