Opinion certainty 4/5 debate potential 3/5

Rom Lacritz: Nobody has successfully figured out location-based social data

Rom Lakritz · He Said No Once and They Tripled the Offer · Aug 9, 2024 · at 19:14

Rom Lacritz, founder and CEO of Anchor, discusses the collapse of the location-based services sector and why his first startup decided to shut down.

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“Nobody really uses check-ins and Foursquare and events on Facebook. It's not really a thing. Nobody really connected between the real world and the social world in the location-based data cause theoretically you have so much data who goes where and what type of people and what they're doing and what hours it's full or not. And nobody, nobody really figured it out and use it.”

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More from Rom Lakritz

Insight
Lacritz: Founders should only escalate problems to investors if they need help
“If we had a bug in, in anchor it's not the first thing I do is not call my investors and tell them I had a bug, I fix it. I understand what's you know, what's, what's happening. And if it's interesting or important, and I think it may have long-term effects, t…”
Rom Lakritz Aug 9, 2024 ▶ 16:32 He Said No Once and They Tripled the Offer
Disclosure
Lakritz Raised A $15M Pre-Seed Round Without Writing Any Code
“So, you know, you look at us at anchor, we raised fifteen million dollars in the pre-seed with customer discovery.”
Rom Lakritz May 4, 2022 ▶ 12:11 Rom Raised $15M Before Writing a Single Line of Product Code
Assertion Supported
Lakritz: Post-COVID Seed Rounds Have Ballooned Up to $50 Million
“Where you raise the seed amount, where, what you're talking about around half and five million dollars before COVID. And today it can be somewhere between five and 50. Even I've seen a seed investment.”
Rom Lakritz May 4, 2022 ▶ 13:30 Rom Raised $15M Before Writing a Single Line of Product Code
Disclosure
Lacritz plans to fully bootstrap his next company
“In my head though, my next company would be bootstrapped and we'll take it all the way bootstrapped.”
Rom Lakritz Aug 9, 2024 ▶ 9:13 He Said No Once and They Tripled the Offer
Insight
Lacritz: Founders mistakenly believe investor relations is just always presenting good news
“I do see a lot of entrepreneurs that look at that relationship as I need to sell something to the investors. I need to show them always that everything is, is good. And that's, it's, I would say it's actually a small part of it.”
Rom Lakritz Aug 9, 2024 ▶ 11:11 He Said No Once and They Tripled the Offer
Assertion Not checkable as stated
Lacritz: Acquirer Tripled Bid After Founders Rejected First Offer
“What happened is that we actually said no the first time and they came back when pretty much tripled the amount.”
Rom Lakritz Aug 9, 2024 ▶ 22:34 He Said No Once and They Tripled the Offer
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