The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 10 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Kugel: Tire Agent is raising on a $10M convertible note
“So we're doing a ten million dollar convertible note.”
Daniel Gulati: Tire Agent Fails the 10x Better VC Standard
“It's like the old venture capital rule. It's like you gotta be 10 times better, 10 times cheaper. And I just feel like your business doesn't meet that grade. I don't think it's so much better that the average customer will kind of migrate to you in droves.”
Michael Hyatt: Tire Agent works best as a cash-flow lifestyle business
“I think this is the most amazing lifestyle business. This guy understands how to work that New York market. He could get out a million bucks of free cash flow a year. He could pay all his investors. He could make three, 400 grand a year and be very happy.”
Kugel: Mobile tire competitors lack pricing knowledge and distributor connections
“So where we're different is a lot of them really don't buy tires at the right price because they don't know the cost of the distributors. And so I do, that was an advantage that I had coming into it. Plus I have a lot more connections than a typical tire shop …”
Kugel: Tire Agent can make $100K profit per truck
“I believe you can make about a 100,000 dollars a truck in profit, not including if I add wheels.”
Hyatt: Tire Agent's valuation is likely no higher than its prior round
“Really, your valuation is probably not much more than what you just did, and really what you should be looking for is, is, is probably strategic investors that'll help you and make these introductions and what have you.”
Phil Nadel Passes on Tire Agent Citing $10M Cap and No Traction
“If there was some traction, if you were able to show real numbers and real progress, that makes a difference, and then compound that with, you know, what I consider to be a crazy valuation at a ten million dollar cap, I just think, you know, it, I can't get ex…”
Kugel: Tire Agent recently raised capital at a $3M valuation
“I didn't really have much of a choice because I had just raised money at a three.”
Kugel: Tire Agent captures 25% gross margin on retail tires
“The average cost is typically a hundred bucks on a tire retail. Our margin's about 25%. That's what we make. We make 25 bucks. The remainder goes to the distributor or manufacturer.”
Kugel: Tire Agent subcontracts all tire installers from mobile installation companies
“Right now, all of our installers are subcontracted of other mobile installation companies that we're working with, and that industry has been very fragmented, and now I'm kind of converting them into an actual tire shop, but we're the customer experience.”