89. How to burn $2 billion

89. How to burn $2 billion

Does having $2 billion in the bank account and celebrity backing guarantee success for a consumer app? Not necessarily.

Listen to how one company burned through almost $2 billion and had to shut down their app after just 6 months. Learn what Quibi did wrong, so you can avoid their mistakes.

Learning notes from this episode:

  • Success in one field does not necessarily translate into another, especially without training. Quibi's founders used lessons from launching Hollywood blockbusters to launching consumer apps. This did not work.
  • Follow the product development process, no matter how much money you have. Focus on the user. Do your research. Build in stages. Track user reactions at each stage and pivot if necessary.
  • Only invest in large budget marketing after you've proven user need at small scale. Focus on retention metrics first, then on growth.

---

Join the Tech for Non-Techies membership community. As a community member, you'll get:

  • ALL of our courses (Tech for Non-Technical Founders, How To Speak Tech For Leaders and more)
  • Monthly coaching with Sophia Matveeva
  • Live masterclasses with global experts
  • Supportive Online Community
  • Library of masterclasses
  • Exclusive Resources & Perks

Learn more and sign up at https://www.techfornontechies.co/membership

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Avsnitt(319)

318. Why US startups beat Europeans, and lessons from Slack and Dropbox

318. Why US startups beat Europeans, and lessons from Slack and Dropbox

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26 Aug 23min

317. From Excel spreadsheet to AI company: the non-technical CEO's playbook

317. From Excel spreadsheet to AI company: the non-technical CEO's playbook

A non-technical CEO built a mobile network, then transformed a startup into an AI company. Here's exactly how he did it — and what he learned about investors. Peter Scott has done things that most peo...

19 Aug 31min

316. What makes a great tech product? Product thinking for non-techies

316. What makes a great tech product? Product thinking for non-techies

Did you wake up today thinking that you really want to use a cup? No! Because you are not insane. You woke up thirsty, and then used a cup. That distinction sounds obvious. But many founders and inves...

12 Aug 15min

315. What non-technical founders need to know before building with AI

315. What non-technical founders need to know before building with AI

The number of non-technical founders running billion-dollar companies increased four times between 2013 and 2023. Not because the technology got easier — though it did. But because investors finally f...

5 Aug 40min

314. 4 ways non-technical founders get stuck

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Many non-technical founders don't lose money in one big mistake — they lose it in four small stuck points that all feel completely reasonable at the time. In this episode, Sophia walks through the fou...

29 Juli 20min

313. Nvidia's most valuable asset is not on its balance sheet

313. Nvidia's most valuable asset is not on its balance sheet

What is Nvidia actually worth? You could look at their factories, their hardware, their staff. But their most valuable assets — the patents, the processes, the institutional knowledge — don't appear a...

22 Juli 15min

312. How competitive advantage changed in the age of AI

312. How competitive advantage changed in the age of AI

If building products isn't your competitive advantage anymore, then what is? Listen to this episode to find out. AI means that everyone can now build (and everyone can copy). So to succeed today, you ...

15 Juli 17min

311. The one metric that tells you if you're really winning

311. The one metric that tells you if you're really winning

You can hit your financial goal and destroy your business. You can be surrounded by fans, but none of them become customers. This is demoralising, and it happens when you're measuring the wrong thin...

8 Juli 21min

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