Everything Hamed Abbasi said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Abbasi: I would spend my entire first startup year just interviewing buyers
“If I were to go back and think about, you know, launching the next business idea, I would definitely do that. Then I would just probably spend the first year Not building anything at all and actually just talking to all the potential buyers to really understan…”
Abbasi: PayPal was a 'pretty crappy business' until eBay acquired it
“Cause you know, if you look at the history of PayPal, you know, they were pretty crappy business for a very, very long time until eBay bought them.”
B2B fintechs must match the simplicity of writing a check to win
“So if you're building a fintech product, you really need to think about how can I make the experience? Like I literally write a name, I press a button and it's gone. Otherwise you're not going to be able to replace checks.”
Plooto's original B2B payment product was built on Bitcoin and failed
“So the first iteration of Pluto was to do payments, business payments on blockchain and Bitcoin was like the only coin at that time on the only cryptocurrency at that time. So, so we built it on, on Bitcoin and then other things came and we started a multi I g…”
Pacaso's CEO spent a full year interviewing buyers before building a product
“He spent an entire year going around the United States, talking to real estate agents, talking to potential home buyers to really understand like the pain point associated with buying a home, a vacation home and he didn't build anything for a year.”
Plooto completely failed its 2018 Series A raise due to poor retention
“And when we went to raise our series A, we actually like completely failed because like every investor looked at our usage metrics and they basically came back to us and they're like, well, you know, you have something here, but it's not, Enough for me to, you…”
Plooto eliminated its cash burn overnight when 82% of users accepted paywall
“And we were forecasting that maybe 30% of customers would stick around, but over 82% of customers converted in October of 2019 to subscription pricing plus usage. So when that happened, like we literally eliminated our burn overnight.”
A Product Market Fit Show 18