The Force Awakens has been particularly exciting to me since we are investors in Sphero. If you haven’t seen BB-8 from Sphero yet, take a look.
I watched Star Wars for the first time the week it came out in 1977. I was 11. I’ve been an unashamed Star Wars fan since then, loving almost every moment except for the ones I had to suffer through with Jar Jar Binks. It turns out that I’m about six months older than J.J. Abrams so I feel similar to him about Star Wars.
“I was 11 when I saw the first ‘Star Wars’ and my mind was blown,” he says. “It was everything. It was funny, it was surprising, it was aesthetically gorgeous. It had designs and effects you’d never seen before. It had the most incredible sound effects and music you’d ever heard. It had amazing characters who grabbed you by the heart. It was spiritual. It was filled with adventure. On every level, it was just this incredible thing. If it had only looked that cool, or had that great script, people would still be talking about it. But it had all of it. It reminds me of the Beatles, the way, for any other band, any one of their songs would have been enough for a career. But they did it all — the way George Lucas, somehow through his brilliance, did it all.”
And yes, I’m a big Beatles fan also.
BB-8 is so deeply awesome. If you don’t have one yet, you know you want one. See you at the movies.
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.
One of the most enjoyable things I get to do in my job is to be involved in creating amazingly fun products. If you hang around in our office at Foundry Group you see plenty of Makerbots, Fitbits, an Oblong Mezzanine, an Occipital Structure Sensor, ModRobotics Cubelets, littleBits, 3D Robotics drones, and Spheros.
Now we’ve got some BB-8s (from Sphero) in our office. And if you want one, you can buy one right now.
The story of Sphero and BB-8 makes me smile a huge smile. I’m a massive Star Wars fan and saw the first Star Wars movie in 1977 when I was 11. I had a digital LED Star Wars watch from Texas Instruments that I wore proudly every day. Recently, I’ve been wearing Star Wars Vans. Yoda adorns lots of spaces in my world and “Do or do not, there is no try” is one of my mantras.
Sphero was originally known as Gearbox when it entered Techstars in Boulder in 2010. It’s origin story is summarized in the Techstars Founder Stories series and our journey with Ian Bernstein, Adam Wilson, Paul Berberian, and the team they subsequently assembled has been awesome.
Shortly after we led the seed round the company changed its name to Orbotix. It released its first product – Sphero – a little over a year later and was off to the races.
Last year, Orbotix did an unusual thing. With two successful products under its belt (Sphero and Ollie), the team was working on the next product concept. At the same time, Techstars had partnered with Disney to create the Disney Accelerator. While Orbotix was now a substantial company (with around 50 people), Paul, Ian, and Adam decided to go through the Disney Accelerator to create their next product. They had no idea what it would be, but they just wanted to isolate themselves from the rest of the company and invent the next thing. Paul spent 50% of his time in LA and the other 50% of his time in Boulder. Ian and Adam spent 100% of their time in LA and went through the first Disney Accelerator program.
The story of how BB-8 came out of this has been talked about plenty of times including an article in Wired and this morning on the front page of the Denver Post. It’s a great example of the power of a prepared mind, magical technology, and the Techstars corporate accelerator dynamic.
Today, Orbotix is called Sphero. The latest product from Sphero is BB-8. And, as a Star Wars geek, I couldn’t be happier to have a tiny part in bringing BB-8 to life.