Price of Admission Is An Amazing Product

As I read about the unveiling of the Tesla Model X, I have two thoughts. The first one is “I want” (hint: Amy – you need to replace your red Range Rover.) The second is that price of admission is an amazing product.

Indulge me while I go on an amazing product rant from our portfolio.

  • Glowforge is turning 3D printing inside out by using a laser to cut and engrave, instead of an extruder to, well, extrude. They just crossed the $4 million mark in day five of their thirty day pre-order campaign.
  • Sphero has sold more BB-8’s in the month since they launched than even I thought possible. I have one on my desk and it gives me joy every day I’m in the office.
  • Accenture just launched their Connected Analytics Experience’s immersive environment which is enabled by Mezzanine. As a daily user of Mezzanine, it actually makes video conference and collaboration tolerable.
  • The demand for the 3D Robotics Solo drone is off the charts.
  • Rock Band 4 comes out next week. Yesterday two new U2 songs were added as exclusives. Enough said.
  • We closed an investment yesterday in a company that will announce next week. I’ve been using the product for sixty days along with their competitor’s product. Their competitor has raised 10x the amount of money so far (prior to our investment), and the product from the company we invested in, from my own head to head comparison, is amazing, compared to the “meh” product from its competitor.
  • We are issuing a term sheet today to another company that I hope accepts our offer. Your mind simply explodes when you use this particular product.

I could keep going but you get the idea. When I reflect on our successful investments, regardless of the form factor (software or hardware or both) that they take, they all are amazing products. And the founders come from a product first mindset – their goal is to unambiguously create the best product that delight users every time they come in contact with it.

I’ve heard the discussion about how important product is for over 20 years of being an investor. But it’s not important anymore. Instead, an amazing product is simply price of admission. If you don’t have an amazing product, you don’t get to play, at least in my little corner of the world.

  • “… unambiguously create the best product that delight users every time they come in contact with it.” True for every kind of product/ service. But if this is the minimum bar (albeit a very high one), what other factors take the product all the way? As a VC what are the other factors you look for before investing?

    On a side note – the Sphero BB-8 is a thing of beauty!

    • Product and people.
      Product and people.
      Product and people.

      • Rule to live by. Been trying to internalize it for the last couple of years.

  • Well the BB-8 is clearly going to be the geek toy for Christmas. Well done to them, I was wondering about Sphero’s future and this is a perfect side division that will undoubtedly benefit from such a huge franchise (especially post Star Wars film release).

    • my last pay check was $7559 working 8 hours a week online. My sisters friend has been averaging 16k for months now and she works about 18 hours a week. I can’t believe how easy it was once I tried it out. This is what I do…

      http://www.homebiz20.tk

      421

  • my last pay check was $7559
    working 8 hours a week online. My sisters friend has been averaging 16k for months
    now and she works about 18 hours a week.
    I can’t believe how
    easy it was once I tried it out. This is what I do…

    http://www.homebiz20.tk

    544

  • JingaLalaHoHo

    my last pay check was $8370 working 8 hours a week online. My sisters friend has been averaging 23k for months now and she works about 14 hours a week. I can’t believe how easy it was once I tried it out. This is what I do…

    http://www.usa-bizz20.tk

    96

  • < After quitting my office job one year ago, I was blessed to get familiar with this amazing freelance job opportunity on internet that was a life-saver… They hire people to work from home. Last check after being on this job for them for four months was 10000 dollars… Cool thing about it was that the only requirement for the job is simple typing skills and connection to the internet… >

    http://www.webworkreviweshomebasedjobs.blogspot.com

    554

  • knotmott

    “The demand for the 3D Robotics Solo drone is off the charts.” – so are all the numbers (low sales and high returns) being tossed around untrue? 50K to 100K units were discussed in public videos and articles. Those in the know say things are not going well. Please inform what is behind your seemingly glowing statement? It appears they are going to miss the holiday season sales due to still incomplete GoPro integration and other misses.

  • Peter Zotto

    Nothing says it better than Steve Jobs standing up to criticizing developer, circa 1997. http://www.alphr.com/apple/1001759/a-guy-insults-steve-jobs-from-the-audience-jobs-reply-was-awesome