Sanish Mondkar, founder and CEO of Legion, highlights the disparity between tech investment in desk workers versus frontline retail workers.
Insight
Revenue is an overrated, potentially misleading metric in early-stage fundraising
“At that stage, my belief is investors are not, the revenue is not the important thing. The proof point is the important thing. Proof point, there are many ways to prove traction and product market fit. Revenue is just an obvious way, and sometimes actually a m…”
Insight
True passion means a willingness to join others solving the problem
“I really believe that entrepreneurs at that stage when they're thinking about, you know, you should focus more on the problem statement than on the notion of being an entrepreneur. I mean, I just feel that those are sort of the maybe slightly misplaced motivat…”
Assertion Not checkable as stated
Tech has not materially changed work for 60% of the workforce
“And here, there are eighty million workers, 60% of the workforce. For them, technology hasn't really changed anything materially in the past decade.”
Insight
Early design partner compensation does not have to be monetary
“The pay, the quote unquote payment for software is doesn't in the early days, it doesn't always have to be in form of money. Philz was, they had, they gave me desk space, they gave me access to their locations, they gave me access to their managers, I could go…”
Insight
Enterprise software should optimize for quick task completion, not dwell time
“Enterprise apps. No one wants to hang out in your app. It's something needs to be done and you're in and out, right? That's actually a great experience from a user standpoint.”
Assertion Not checkable as stated
Legion surveyed over 500 New York businesses door-to-door in one month
“We had like over 500 businesses that we talked to and very well organized data over, you know, three, three, four week period very structured data in a spreadsheet that I could start now talking to people with”