Hank Leber details the launch metrics of Unicoin Gold, a token sale powered by CoinCircle.
Insight
Leber: Building SaaS entirely dependent on third-party platforms is fatally dangerous
“Building a SaaS company on the back of another platform that could kill you is a very dangerous thing to do. And my million run rate business died, but I've, you know, there are 10,000,020 million run rate businesses that also died. Same fate, building on the …”
Assertion Not checkable as stated
Leber: Twitter suspended thousands of Vitamin's accounts overnight in May 2016
“So May 2920 16. We literally had zeros across our dashboard on the back end looking at all the accounts, and I thought, oh, man, something must be wrong with the dashboard, because there's just no way we could have lost thousands of accounts overnight, and it …”
Insight
Leber: Early-stage growth marketing cannot be automated
“The learning there about six months in was early stage companies are so needy that that's not really a thing. It has to be a custom build every time across the entire spectrum because they don't know their early stage company, you think about 500 K to a millio…”
Disclosure
Leber: Vitamin spends zero on outbound marketing, using its own software
“We use our own technology on ourselves so we don't have to Spend on marketing, so to speak. I mean, it's all our own software. So we do not spend on outbound marketing at all.”
Assertion Not checkable as stated
Leber: Vitamin burned its remaining $70K runway in 3.5 weeks
“We had raised about 650 and we had gotten just that month. We got into cashflow positive by about a hundred dollars. So I was like, Hey, this is great. I'm going to go out and fundraise like this. You know, arms crossed instead of like this with hands outstret…”
Assertion Contradicted
Leber: Twitter cut automation tolerance by 80% to 200 actions daily
“It took longer than three weeks to figure out that it was a reduction in the automation threshold. It went from a thousand actions per day down to about 200 per day. So they did an 80% reduction in their tolerance.”