There are a *lot* of software shops in the world that would far rather have one more technical dependency than they'd like to pay for one of their 20 engineers to become the company's SPOF expert on the joys of e.g. HTTP file uploads, CSV parsing bugs, PDF generation, etc.
On a serious note, it's interesting to observe that you can build a decent business charging $20 - $50 per month for something that any good developer can set up. This is one of those micro-saas sweet spots between "easy for me to build" and "tedious for others to build"— Jon Yongfook (@yongfook) September 5, 2019
A consulting shop delivering a $X00k engagement for an internal system, a SaaS company doing something custom for a large client or internally facing or deeply non-core to their business, etc.
I think subscription fatigue is far more reported by people who are embarrassed to charge money for software than it is experienced by for-profit businesses, who don't seem to have gotten pay-biweekly-for-services fatigue.
More from Patrick McKenzie
APIs add new things to the toolbox. For example: Treasury, which lets an app/platform store, move, and track a business’
I've been a small business owner and can talk at length about SMB banking, and will later, but let's put on the software developer hat right now.
Lots of software talks about money, keeps records about money, does calculations about money, but can't *touch* money.
This is extremely frustrating when you're building SaaS apps for businesses, because you have total control over your UX right until your app needs to touch money... at which point all data about it lives in a silo you can't access.
So you generally push work to the operator.
For example, suppose you’re writing a business-in-a-box system for electricians, including an invoicing feature.
You need to be able to read bank transactions to reconcile. You probably can't. The owner can. So you ask the owner to do mind-numbing work a computer does better.
It sure would be great if your business customers had bank accounts you could actually introspect and operate on their behalves! You could just get the list of incoming payments and match against the invoices.
There is some software to write but it is not rocket science.
Here's how I'd measure the health of any tech company:— Jeff Atwood (@codinghorror) October 25, 2018
How long, as measured from the inception of idea to the modified software arriving in the user's hands, does it take to roll out a *1 word copy change* in your primary product?
How long does it take, measured from initial expression of interest through offer of employment signed, for a typical candidate cold inbounding to the company?
What is the *theoretical minimum* for *any* candidate?
How long does it take, as a developer newly hired at the company:
* To get a fully credentialed machine issued to you
* To get a fully functional development environment on that machine which could push code to production immediately
* To solo ship one material quanta of work
How long does it take, from first idea floated to "It's on the Internet", to create a piece of marketing collateral.
(For bonus points: break down by ambitiousness / form factor.)
How many people have to say yes to do something which is clearly worth doing which costs $5,000 / $15,000 / $250,000 and has never been done before.
Maybe more geeks need to meet someone who says “My job is teleporting value across time and space.”
Financial engineering is sort of a squishy term. I don’t primarily mean payments infrastructure or financial rails, although both of those involve substantial engineering.
I mean more “We took a thing and performed some alchemy, and now have a new thing.”
Except instead of alchemy it is generally quite a bit of math, a huge amount of contract law and due diligence, often an impressive amount of ops work, and a dusting of technology that web devs would recognize as such.
How to put this in regular finance terms...
Suppose hypothetically you have an account at a brokerage with some valuable asset in it. You take a margin loan against that asset to fund your normal spending, or pay a tax bill, or maybe buy something at another brokerage.
For reasons known only to the brokerage, they don't denominate your loan in dollars. They denominate it in shares of a money market fund, which are worth $1 +/- epsilon and basically never deviate from that.
And you think "Hmm, I have a large equity cushion against this loan."
One day, a computer system at the brokerage reports, sorta-kinda erroneously, that the value of the money market fund is actually $1.30 per share. The equity cushion is gone. Your valuable asset is sold, at timing you didn't choose, at wrong price, to pay an inflated phantom debt
And your recourse is... probably tweeting at patio11 saying he finds too much joy in this.
Which I don't; I just feel like this is why you don't trust a CPU built out of redstone to build reliable financial infrastructure on top of.
For candidates: evaluate prospective employers accordingly.
For startups employing e.g. engineers: given that your candidates should evaluate you accordingly, be *extra special* careful to operate like professionals with regards to e.g. interviewing, offers, and negotiation.
"Can you be more explicit about 'abusive' here?"
Not without violating a confidence, but as someone who has been on hiring side of table and is a capitalist, there are *clearly* things you could do which would be "sharp operating, but we're all sharp operators" in some contexts.
Hiring employees is often not one of those contexts. The nature of the relationship, the asymmetry in power, and the social contract strongly counsel you to be a lot better there than you are minimally required by law / contract.
A thing which aesthetically frustrates me is that a lot of the things I've heard companies do here serve *no legitimate business purpose.* In some cases it's getting tens of dollars of advantage. TENS! On an engineering candidate!
More from Startups
You should probably consider starting something
Just listen to this:
You can start with the community
I’ve identified ~8000 communities that could be unbundled from Reddit
- They are thriving
- They could make you ~$1m/year of revenue
- You often need $400 max to build MVP to tap that untapped value
- It's fun
Sounds like a dream job to me
People in Silicon Valley don’t have an edge on you
SF held the monopoly on startups for decades. Now, being in SF doesn’t matter for 99% of businesses
Don’t let anyone tell you otherwise
The world is flat and is staying flat
Hell yeah. That feels good to say
You have 10x the amount of funding sources
You used to have to rely on VCs. Not anymore
To name a few:
- Fund via your community
- Fund via NFTs
- Fund via pre-sales
- Fund via tokens
- Fund via accelerators all over the world
All of a sudden, you have 10x the options
Niche businesses can be worth billions
People used to laugh at niche. Why “go small” when you could “go big”?
The way to go big right now IS to go small
Large tech companies can’t be everything to everyone
1/ A lot of new consumer technologies have been introduced to US households in the last 100 years. But it's taken many of them - like the telephone - more than 50 years to get to the majority of the US. Why is that?
2/ We had to literally teach people how to use phone. Which end goes to your mouth, which goes to your ear. Say "hello" when people call. The motivation of consumers to talk to their friends has always been there, but we had to teach the behavior
3/ If you compare phones to the latest technologies, there's been a huge shift. Things are being picked up much faster.
4/ Even while there's been all this innovation recently, physically speaking, we are still the same human beings from 100,000 years ago.
Today, I’m at the local fair.
There are hundreds of vendors.
But there are also huge crowds who are hot and thirsty; lots of demand for cold drinks!
Go where the crowds are!
Again, this is just a metaphor!
But it’s a good reminder:
🍋 If you have a lemonade stand, it’s better to go somewhere hot, where there are a lot of thirsty people.
💻 If you want to make software, it’s better to go where there are a bunch of potential customers.
BTW - targeting a good market doesn’t mean you’ll automatically win!
There are a TON of factors that influence a business’ success (or failure).
But choosing a market that has a lot of demand (and good channels) is essential for future success.
In business, nothing is guaranteed.
You might be in a good market today, but tomorrow it could fall apart.
Markets are fickle.
Some days they want 🍦, other days they want 🥤.
The economy can go up, or it can crash.
A good competitor can come in and grab market share.
But this reinforces the point:
“Business is already hard, why make it harder?” – @asmartbear
Why try to enter a niche where there’s no demonstrable demand?
Why try to serve a total addressable market of 500, when you could go after 500,000 potential customers?
Here are the early growth tactics used to reach 20M+ revenue in 2021
1) In 2015, Founders Alex Lieberman and Austin Rief started the Morning Brew, an email newsletter with the purpose of making business news more interesting for young people. Students wanted something to keep them informed in a more engaging and fun way
2) They noticed students felt the need to follow business news but found current media dry and difficult to read.
Current outlets like the Wall Street Journal lacked the high level roundup that most young people needed to quickly stay informed and not put them to sleep
3) Strategy 1: Pure hustle
At 20 years old, Alex created a PDF newsletter (originally called the Market Corner) and sent it to 45 friends and family. They then got their first 300 subscribers by putting out flyers and speaking at lectures to fellow students at Michigan University
4) They spoke at 50 business classes/clubs explaining what they’re doing, the problem they solve, and that it’s free to join. Students gladly joined and word of mouth spread fast. After 4 months the list grew to 1000 people, eventually reaching 1M in 2019. 15% from word of mouth
We figured out their unconventional growth tactics.
This thread walks you through how to repeat them for yourself.
1/6 Experiment with timing.
Here's a clever example:
@brooklinen "leaked" a time-bounded discount and had one of their *best* revenue days of the year.
Great startups experiment not only with copy/creative, but also framing.
2/6 Get people to FEEL the problem your startup solves.
Here’s how Muzzle (notification hiding tool) uses their site to visualize the problem:
• Shows cringey notifications
• Makes them super vulgar
• Points out how Muzzle puts an end to this during Zoom calls
3/6 Poach potential customers from competitors:
• Create landing pages that compare you against them
• Address customers' biggest objections
• Show your product in action
Then, when people search for you versus your competitors, you'll show up on the Google results page.
4/6 Improve your attribution.
It's often unclear what drives a purchase.
So try this:
• Add a post-purchase survey asking customers how they found you
• Remove friction—limit choices. Make it super easy to quickly select the right one
Attribution helps you double down.
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Bhoga Yoga Narasimha Swamy Temple, Devarayanadurga is located near Tumkur of Karnataka. There are two temples are here for Narasimha Swamy, one is at the base of the hill which is Bhoga Narasimhar and 👇
the other on the top of hill which is Yoga Narasimhar.
Bhoga Narasimha swamy Temple Prathista is said to be done by Maharshi Durvasa who did tapasya here. While doing tapasya Muni wished to bath in river Ganga and decided to travel to Ganga river bank,
At that time Ganga Devi appeared here and said she will remain here in the temple pond.
Yoga Narasimha swamy Prathista is believed to be done by Bhrama Deva who did tapasya here for many years.
Narasimhar appeared with Lakshmi Devi here to give darshan to Bhrama Deva here.
उग्रं वीरं महाविष्णुं ज्वलन्तं सर्वतोमुखम्।
नृसिंहं भीषणं भद्रं मृत्युमृत्युं नमाम्यहम् ॥
Om Shri Narasimha Murthaye Namah
On the day of Amavasya, devotees get the darshan of Shyam Baba in Shyam varan (black color). In ordinary days, the form of Baba is saffron. The reason for this is a custom. The real head of Shyam Baba which had appeared from Shyam Kund is of Shyam varan.
Every day Shyam Baba's grand Shringar is done by Pujaris. The main part of Shyam Baba's shringar is Tilak. This Shringar is done by the members of Nij Mandir sevaks. The sevaks of the Nij Mandir do sandalwood tilak to Baba everyday in the auspicious time.
This Divine Tilak is applied from the forehead to the nose. When Baba is given a bath by sevaks, this tilak comes off. Then in the auspicious time, the sevaks again apply tilak to Baba.
There is no auspicious time on the Amavasya. Because of this, tilak is not done on that day. That's why devotees have darshan of Shyam Baba on the Amavasya only in the actual real form (Shyam Swaroop). Baba's tilak is done on Amavasya only on the day of Deepawali.
I might have a panic attack due to excitement!!
Read this thread to the end...I just had an epiphany and my mind is blown. Actually, more than blown. More like OBLITERATED! This is the thing! This is the thing that will blow the entire thing out of the water!
Has this man been concealing his true identity?
Is this man a supposed 'dead' Seal Team Six soldier?
Witness protection to be kept safe until the right moment when all will be revealed?!
Who ELSE is alive that may have faked their death/gone into witness protection?
Were "golden tickets" inside the envelopes??
Are these "golden tickets" going to lead to their ultimate undoing?
Review crumbs on the board re: 'gold'.
#SEALTeam6 Trump re-tweeted this.
I'm giving up on social media consumption too.
So little substance.
Need to devote more time doing. More time creating.
Who needs another "5 ways to boost growth" post? I click and am disappointed every time. Not again.
I don't want to poop on content marketing, but marketers need to step it up.
Or at least, founders need to know that doing something is not always better than doing nothing.
Why is content marketing not as effective as it used to be? An innumerable amount of factors...
But one things for damn sure.
Things have to change.
Two of the chief sins:
1. Unoriginal research/story/study/etc
2. Not having anything more to add that's meaningful
Why blog/podcast/vlog/etc about something that's already been said? Already been done?
Do we really need another interview with founder of x hot startup? Do we really need another ultimate guide about facebook ads?
Not all content is like this...
Sometimes, you get an occasional piece that truly leaves you better off than you were before. That doesn't make you want to skim.
An original case study. A first time interview with a founder. An honest account of an experiment. An explanation of a change, shift, or realization.
Ottappalam, Kerala. 🚩
This is very unique temple as Shiva and Vishnu both are in the “linga” form in the same Garbhagriham. The Srikovil is in a circular pattern. Temple's Prathishta was done by Parasurama.
Mahadeva and Maha Vishnu in the same Srikovil is very rare Prathishta, but poojas are done separately Dhara is done to Maha Vishnu here. People suffering from “KAIVISHAM” and mental illness are fully cured on drinking a medicinal herb supplied by a nearby family here.
The root of the banyan tree around the Ayyappa Sannidhanam is said to have great powers for skin ailments.
Very ancient temple but was covered with forest for many years.
Later two persons Chakki and Chaathan, while cutting trees their axe hit on the nearby
Vigrahams and it suddenly started bleeding. Later Devaprashnam was held and thus found out that these were murthy's of Shiva and Vishnu which was worshipped long back. And thus temple is constructed here.
Om Namah Sivaye
Om Namo Narayanaya